Robotic Process Automation Market: A Look at the Industry's Growth and Future Prospects

Rising demand for automation in aerospace and increase in adoption of RPA in revenue cycle management are some key factors driving market revenue growth

VANCOUVER, BC, CANADA, June 8, 2023/EINPresswire.com/ -- The global Robotic Process Automation (RPA) market size was USD 2.45 Billion in 2022 and is expected to register a rapid revenue CAGR of 36.3% during the forecast period, according to latest analysis by Emergen Research. Growing popularity and adoption of Industry 4.0, and various advanced technologies, as well as rapid adoption of smart solutions to optimize operations and increase productivity are key factors driving market revenue growth. RPA (Robotic Process Automation) can help optimize operations by automating repetitive tasks and reducing human error. This can lead to required results such as increased efficiency and productivity, as well as cost savings. In addition, RPA can also help to improve data accuracy and consistency, as well as allowing for the reallocation of human resources to more value-added tasks. These factors are expected to drive the revenue growth of the market to a significant extent.

Our analyst team evaluates many other important aspects of the market, including historical market trends, estimated growth rates, revenue generation, production capacity, pricing structure, and key market drivers, opportunities, challenges and constraints. Did. The latest research report offers an accurate study of the Robotic Process Automation industry and highlights key factors such as import/export analysis, production and consumption rates, distribution channels and consumer base in key regions of the global market. This report further explores key facts and figures related to current market conditions and provides an industry-validated database for companies looking to invest in the market. Additionally, the report provides actionable insights that help readers identify key opportunities and challenges faced in the broad competitive landscape of the Robotic Process Automation market. These insights also help formulate lucrative business expansion strategies to gain a competitive edge in the market.

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Major Players/Manufacturers profiled in the report are:

UiPath, NICE, Pegasystems Inc., OnviSource, Inc., NTT Advanced Technology Corp., Blue Prism Limited (SS&C Technologies Holdings, Inc.), Automation Anywhere Inc, EdgeVerve Systems Ltd. (Infosys), FPT Software and KOFAX, Inc

Some Key Highlights From the Report

The software segment is expected to register a rapid revenue growth rate over the forecast period in the global robotic process automation market. This can be attributed to increasing number of companies providing Software-as-a-Service (SaaS) to end users in order to meet rising demand for RPA.

The cloud segment is expected to account for larger revenue share over the forecast period. Cloud platforms enable easer deployment, flexibility, and scalability of RPA solutions. In addition, it is cost effective as compared to on-premises deployment, which can lead to it higher adoption of cloud-based services among Small and Medium Enterprises (SMEs).

The Small and Medium Enterprises (SMEs) segment is expected to register a rapid revenue growth rate over the forecast period. Increasing adoption of RPA among SMEs can aid in cutting costs and optimize operations in order to improve productivity and scalability.

The Banking, Financial Services and Insurance (BFSI) segment accounted for largest revenue share in the global robotic process automation market in 2022. RPA has automated various manual tasks in the BFSI industry that can help the users in cost cutting and earn better Return on Investment (ROI).

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Global Robotic Process Automation Market Report - Segmental Analysis:

Type Outlook (Revenue, USD Billion; 2019-2032)

Software

Services

Deployment Outlook (Revenue, USD Billion; 2019-2032)

Cloud

On-premise

Organization Size Outlook (Revenue, USD Billion; 2019-2032)

Small and Medium Enterprises (SMEs)

Large Enterprises

Key Geographies Profiled in the Report:

North America(the U.S., Mexico, and Canada)

Asia Pacific(China, Japan, India, and Rest of Asia Pacific)

Europe(the U.K., France, Germany, and Rest of Europe)

Latin America(Brazil and Rest of Latin America)

Middle East & Africa(GCC Countries and Rest of Middle East & Africa)

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About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

 

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Emergen Research
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