Robotic Process Automation (RPA) market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Robotic Process Automation (RPA) market by region.

Request To Download Sample of This Strategic Report:-
https://reportocean.com/industry-verticals/sample-request?report_id=51561

The study reveals that the Robotic Process Automation (RPA) market is expected to cross $7,000 million by 2024, at a CAGR of nearly 27% during the forecast period. Due to significant growth in technologies such as artificial intelligence (AI) and cognitive learning, the adoption of business automation technologies by enterprises has also increased. This has led to a rapid increase in demand for the virtual workforce to eliminate repetitive human efforts, on the back of which, the global robotic process the automation market is gaining traction.

COVID-19 Impact

The COVID-19 pandemic in 2019 engulfed the world. It caused a worldwide halt. The entire global economy was affected. In addition, many people have also lost their lives. Around 252,297,094 cases and 5,091,465 deaths have been reported worldwide so far for COVID-19. The pandemic spread to almost every country in the world. In most industries, the pandemic resulted in some form of loss. As a result of the pandemic, the Robotic Process Automation (RPA) market also experienced a slowdown. Statista estimates that the Robotic Process Automation (RPA) market total worldwide revenue stood at approximately US$ 3.94 trillion in 2019. In 2014, the Robotic Process Automation (RPA) market generated revenues of US$ 5.4 trillion at a record high.

The degree of competition among prominent global companies has been developed by analyzing several leading competitors operating globally. In addition, specialist analysts examine various aspects of the Robotic Process Automation (RPA) market, including market competition, market share, the most recent advancements in the industry, innovative product launches, partnerships, mergers, and acquisitions by leading companies. 

Rule-based operations: the global market leader

Rule-based robotic process automation operations have been the largest larger contributor to the global robotic process automation market as compared to knowledge-based operation. This operation uses sophisticated computer software that automates rule-based processes, which are statements pre-defined in a software system, without the need for constant supervision of the human workforce.
The rule-based operation has gained significant interest from all sized enterprises as it enables organizations to configure software robots that effectively automate various annual and highly repetitive tasks. It also helps organizations in saving a lot of time by completing an actual human task within a fraction of seconds. The market for rule-based operations is expected to continue its dominance, during the forecast period, as it can be easily integrated within a business ecosystem without disrupting the traditional or legacy business framework

Request To Download Sample of This Strategic Report:-
https://reportocean.com/industry-verticals/sample-request?report_id=51561

The market to witness the fastest growth in Asia-Pacific during the forecast period
Geographically, North America has been the largest market for robotic process automation, whereas Asia-Pacific is expected to witness the fastest growth among all regions, during the forecast period. The anticipated growth in the market can be attributed to factors such as advancement in new technologies, growing digitalization, growth in the automation software industry, and increasing adoption of business process automation solutions by small and medium scale enterprises in the region. Further, due to increasing demand for automation in major industry tasks such as business process outsourcing (BPO), outbound sales, and other back-office work, industries in the region have high tendency to adopt robotic process automation solutions at a rapid scale in the next few years.

Operational Excellence in the Middle-East is driving the global robotic process automation market

One of the foremost driver due to which the Global Robotic Process Automation Market is gaining traction is considered to be its success in increasing operational excellence in the rapidly developing Middle-East and North Africa (MENA). The regions in line with the global trend have rapidly opened up to embark on the RPA transformation wave. Although in its nascent stage, Robotics process automation has already created significant traction in the GCC region, due to high interest shown by the Middle-East CXOs.

Also, the companies in these regions, allowing software bots handle mundane and low-value tasks, employers are finding it easier to upgrade the skill levels of employees thereby retaining more local workforce, At present, corporates in the Financial services and Telecom space have started their RPA journey as early adopters. However, entities in other sectors as Oil & Gas, Healthcare, Retail, Real estate, manufacturing and Government sector are expected to join the bandwagon very soon

On the basis of User size, the market is segmented into Large Enterprise and SMEs. On the basis of Industry, the market is segmented into BFSI, Telecom & IT, Retail and Consumer Goods, Manufacturing, Healthcare and Pharmaceuticals, and Others. BFSI was the largest segment in the global robotic process automation market in 2017.

Get a Sample PDF copy of the report:-
https://reportocean.com/industry-verticals/sample-request?report_id=51561

High competition among key players in the market

The research states that the global robotic process automation market is highly competitive, with players developing new robotic process automation applications. Some of the key players operating in the robotic process automation ecosystem are Nice Systems Ltd., Pegasystems Inc., Automation Anywhere, Blue Prism PLC, Ipsoft, Inc., Celaton Ltd., Redwood Software, Uipath SRL, Verint System Inc., Xerox Corporation, and IBM Corporation.

Most of the major vendors in the global robotic process automation market are actively focused on enhancing their offerings to meet the ongoing demand for advanced business automation solutions. This includes software integrated with artificial intelligence and cognitive learning.

Market Segmentation: Global Robotic Process Automation Market
By Process
, Automated Solution
, Decision Support & Management
, Interaction Solution

By Operation
, Rule based
, Knowledge based

By Service
, Professional
, Training & Support

By User Size
, Large Enterprize
, SMEs

By Industry
, BFSI
, Telecom & IT
, Retail and Consumer Goods
, Manufacturing
, Healthcare and Pharmaceuticals
, Others

Get a Sample PDF copy of the report:-
https://reportocean.com/industry-verticals/sample-request?report_id=51561

In addition, the report provides analysis of the robotic process automation market with respect to the following geographic segments:
, North America
o U.S.
o Canada
, Europe
o Germany
o U.K.
o Russia
o France
o Rest of Europe
, Asia Pacific (APAC)
o China
o India
o Japan
o Singapore
o Rest of Asia Pacific
, LATAM
o Brazil
o Mexico
o Rest of Latin America
, MEA
o Saudi Africa
o UAE
o Saudi Arabia
o Rest of Middle-East

What is the goal of the report?
• The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.
• During the forecast period, the report analyzes the growth rate, market size, and market valuation.
• The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
• The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance

Access full Report Description, TOC, Table of Figure, Chart, etc.

https://reportocean.com/industry-verticals/sample-request?report_id=51561

About Report Ocean:

We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom line goals which will boost your market share in today’s competitive environment. Report Ocean is a ‘one-stop solution’ for individuals, organizations, and industries that are looking for innovative market research reports.

Tags: Robotic Process Automation Market Trend, Robotic Process Automation Market Analysis, Robotic Process Automation Market, Robotic Process Automation Market Share

See Campaign: https://reportocean.com/
Contact Information:
Get in Touch with Us: Report Ocean: Email: [email protected] Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611 – UNITED STATES Tel: +1 888 212 3539 (US – TOLL FREE) Website: https://www.reportocean.com/

Tags:
Menafn, PR-Wirein, iCN Internal Distribution, Research Newswire, English