Robotic Process Automation Market Projected to Grow at Double Digit CAGR Through 2025
Rising need to improve
accuracy and speed of business processes to boost the growth of the global
robotic process automation
According to
TechSci Research report, “Global Robotic Process Automation Market By Type, By Deployment, By Enterprise Size, By
Industry, By Region, Competition, Forecast & Opportunities, 2025”, the global robotic process automation market is expected to
grow at CAGR of close to 25% during the forecast period on account of
growing digitization of businesses due to deficiency of low cost and skilled
labor and high efficiency with the use of robotic process automation. Robotic
process automation or RPA uses software inbuilt with technologies such as
machine learning & artificial intelligence for handling large volume of
repeatable tasks. Unlike traditional IT automation, RPA can learn on its own
and adapt to the changing environment, driving the growth of the global robotic
process automation market.
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Robotic process
automation market, globally, can be segmented based on type, deployment,
enterprise size, industry and region. In terms of enterprise size, market can
be bifurcated into small & medium enterprise (SME) and large enterprise.
Large enterprise dominated the global robotic process automation market in
2019; however, SMEs are expected to be benefited most from the deployment of
RPA as it will help them to improve the quality of services by minimizing
errors and inconsistencies due to human error.
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UIPath Inc., Automation
Anywhere Inc., Blue Prism Group PLC, Nice Robotic Automation Ltd., Pegasystems
Inc., Blue Prism Group PLC, IPsoft Inc., Uipath SRL, Xerox Corp., IBM Corp.,
among others are the leading players operating in global robotic
process automation market. The companies operating in the market are using
organic strategies such as product launches, mergers and collaborations to
boost their share.
“North
America is the leading region in the global robotic process automation market and
the region is expected to continue dominating the market over the coming years as
well. This is due to the large-scale adoption of RPA for automation in industries
as it helps to improve efficiency and efficacy by automating repetitive tasks.
Additionally, increasing digital transformation among various end user
industries is positively impacting the growth of the robotic process automation
market in the region.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global Robotic Process Automation Market By
Type, By Deployment, By Enterprise Size, By Industry, By Region, Competition,
Forecast & Opportunities, 2025” has evaluated
the future growth potential of global robotic process automation market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global robotic process automation market.
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