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TOKYO, Feb. 14, 2023 (GLOBE NEWSWIRE) — The Global Robotic Process Automation Market Size accounted for USD 1.6 Billion in 2021 and is projected to achieve a market size of USD 25.1 Billion by 2030 rising at a CAGR of 35.9% from 2022 to 2030.
Robotic Process Automation Market Research Report Highlights and Statistics
Robotic Process Automation Market Overview
Robotic Process Automation (RPA) is an innovative technology that uses software robots to automate manual, repetitive, and rule-based tasks that were previously performed by humans. The RPA market has witnessed substantial growth in recent years, owing to its ability to streamline business operations and increase efficiency while reducing costs.
The utilization of RPA ranges across various industries such as finance, healthcare, retail, and others, where it finds diverse applications. For instance, in the financial services sector, RPA can be used to automate the reconciliation of accounts, loan processing, and fraud detection. In the healthcare sector, RPA can assist with claims processing, appointment scheduling, and patient data management.
The versatility of RPA is further accentuated by its capability to integrate with various systems and applications, including legacy systems, cloud services, and Artificial Intelligence (AI) and Machine Learning (ML) technologies. This makes it an ideal solution for organizations seeking to digitize and streamline their operations.
The RPA market continues to grow, offering organizations a reliable, efficient, and cost-effective solution to automate mundane and repetitive tasks. With its diverse range of applications, organizations can leverage RPA to improve operational efficiency and stay ahead in the competitive business landscape.
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Cloud Storage Market Report Coverage:
|Market||Robotic Process Automation Market|
|Robotic Process Automation Market Size 2021||USD 1.6 Billion|
|Robotic Process Automation Market Forecast 2030||USD 25.1 Billion|
|Robotic Process Automation Market CAGR During 2022 – 2030||35.9%|
|Robotic Process Automation Market Analysis Period||2018 – 2030|
|Robotic Process Automation Market Base Year||2021|
|Robotic Process Automation Market Forecast Data||2022 – 2030|
|Segments Covered||By Type, By Deployment, By Organization Size, By Application, And By Geography|
|Robotic Process Automation Market Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Automation Anywhere, Blue Prism Limited, EdgeVerve Systems Limited, Kofax Inc., FPT Software, NTT Advanced Technology Corporation, OnviSource, Inc., Pegasystems Inc., UiPath, and Xerox Corporation.|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
Trends in the Robotic Process Automation Market
Robotic Process Automation Market Dynamics
Growth Hampering Factors in the Robotic Process Automation Market
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Robotic Process Automation Market Overview by Region
North America has the largest Robotic Process Automation market share, with the United States being the largest contributor to this growth. The increasing adoption of RPA by the healthcare and financial services sectors in the United States is driving the growth of the RPA market in North America.
Europe has the second largest Robotic Process Automation market share, with significant growth being observed in countries such as the United Kingdom, Germany, and France. The increasing adoption of RPA by the retail and banking sectors in Europe is driving the growth of the RPA market in this region.
The Asia-Pacific region has the fastest-growing Robotic Process Automation market share, with significant growth being observed in countries such as China, India, and Australia. The increasing adoption of RPA by the manufacturing and BPO sectors in the Asia-Pacific region is driving the growth of the RPA market in this region.
The Latin American and MEA regions have a low market share for robotic process automation however they are set to grow steadily in the future with significant market for RPA in Brazil, UAE, Saudi Arabia etc.
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Robotic Process Automation Market Key Players
The Robotic Process Automation (RPA) market is highly competitive and has a large number of players. Some of the major players in the RPA market include: UiPath, Blue Prism, Automation Anywhere, WorkFusion, Pega Systems, NICE, Cognizant, Infosys, Wipro, Accenture, HCL Technologies, TATA Consultancy Services, KPMG, Deloitte, EY, Capgemini, Atos, Kofax, Genpact and Virtusa. These players are engaged in offering innovative RPA solutions and services to organizations across various industries, helping them streamline their operations and improve efficiency. The competitive landscape of the RPA market is dynamic, with new players entering the market and existing players continuously expanding their product offerings and services.
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