Robotic Process Automation (RPA) Market Size By Service (Training & Consulting Services, Professional Services), By Tool (Model-based, Process-based), By Organization Size (SMEs, Large Enterprises), By Solution (Automated, Decision & Management Support, Interaction), By Operation (Rule-Based, Knowledge-Based), By Application (BFSI, IT & Telecom, Healthcare, Manufacturing, Retail, Transportation, E
Published on: 2024-07-07 | No of Pages : 240 | Industry : Media and IT
Publisher : MRA | Format : PDF&Excel
Robotic Process Automation (RPA) Market Size By Service (Training & Consulting Services, Professional Services), By Tool (Model-based, Process-based), By Organization Size (SMEs, Large Enterprises), By Solution (Automated, Decision & Management Support, Interaction), By Operation (Rule-Based, Knowledge-Based), By Application (BFSI, IT & Telecom, Healthcare, Manufacturing, Retail, Transportation, E
Robotic Process Automation (RPA) Market Size By Service (Training & Consulting Services, Professional Services), By Tool (Model-based, Process-based), By Organization Size (SMEs, Large Enterprises), By Solution (Automated, Decision & Management Support, Interaction), By Operation (Rule-Based, Knowledge-Based), By Application (BFSI, IT & Telecom, Healthcare, Manufacturing, Retail, Transportation, E
Robotic Process Automation Market Size
Robotic Process Automation (RPA) Market size exceeded USD 2 billion in 2019 and is estimated to witness around 40% CAGR from 2020 to 2026. Rising demand for automating processes with less human intervention is likely to fuel the RPA industry growth.
Rising demand for RPA in the BFSI industry is creating more market opportunities. The BFSI industry uses RPA software for automating new account entries, financial report generation, loan approval process, and auditing support & validation process.
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Several market factors challenging the industry growth include lack of experienced employees for the implementation of RPA software within an organization. Practical implications of RPA software increase the ROI of the organization, hence RPA providers arrange training and consultation services for the small- and large-scale businesses to develop and acquire new skill set related to RPA.
The global RPA market is poised to see a provisional stoppage due to the spread of the COVID-19. With the rising number of COVID-19 positive cases, many businesses are experiencing financial losses and immediate disruption in the supply chain management, hampering the industry growth. However, many industry players are focusing on acquiring small businesses, new product development, product launches, and partnerships with government organizations to augment the market share.
| Report Attribute | Details |
|---|---|
| Base Year | 2019 |
| Robotic Process Automation Market Size in 2019 | USD 2 Billion |
| Forecast Period | 2020 to 2026 |
| Forecast Period 2020 to 2026 CAGR | 40% |
| 2026 Value Projection | USD 23 Billion |
| Historical Data for | 2016 to 2019 |
| No. of Pages | 200 |
| Tables, Charts & Figures | 353 |
| Segments covered | Service, Tools, Organization Size, Solution, Operation, Application |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
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For instance, in May 2020, Kryon, one of the providers of RPA software partnered with Bank of Jerusalem to offer financial services to customers during the COVID-19 pandemic.
Robotic Process Automation Market Analysis
The process-based tool in Europe is anticipated to expand at more than 8% CAGR through 2026. Increasing demand to improve business operations such as non-voice processes across enterprises provide opportunities segment growth. Use of such technological solutions across the industries provide efficiency in terms of speed as well as operations.
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The rule-based operation holds around 65% of the robotic process automation market share in Europe. Organizations are increasingly focusing on systematizing the rule-based operations making use of the advanced software solutions. These solutions are applied to the systems such as ERP, databases and workflow management.
The RPA market from professional services to observe significant growth during 2020 to 2026 owing to the rising trend of business process-as-a-service. This provides an opportunity for professional services firms to harness the potential of automation for high operational efficiency. Increasing demand for service providers with adequate technical expertise to properly manage the facilities will support the market revenue.
The Europe automated solutions are set to register a growth rate of about 43% up to 2026. Automated solutions, such as handling customer queries, sending & responding to messages, are increasing the use of RPA software in various end-use industries. The solutions help companies to automate the basic activities and help in focusing on their core competencies to simplify various tasks.
SMEs accounted for about 35% of the RPA market share in North America in 2019. Due to high market price of software, only large enterprises were able to afford RPA software and their supportive services. In recent technological shift, many software providers developed RPA software for small-scale businesses to increase operational efficiency and automate their processes.
The BFSI application in North America to achieve more than 40% CAGR through 2026. The RPA software is helping to automate various banking processes such as customer verification, form processing, claim processing, customer on-boarding, data management, loan processing, and compliance maintenance. Many leading banks in India had implemented RPA software in their financial processes.
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North America robotic process automation market size surpassed USD 900 million in 2019 and is projected to grow at over 40% CAGR through 2026. The presence of major market players such as UiPath, Automation Anywhere, and Pegasystems Inc. will create new market growth opportunities for small, medium, and large-scale businesses in the region to automate their businesses with low operational costs.
Increasing investments in RPA by the U.S. government are expected to contribute to the growing market demand. Moreover, many AI capabilities such as natural language processing and natural language understanding also offered by the company to provide accurate and sophisticated analytics to understand the business impacts.
Robotic Process Automation Market Share
RPA providers are engaged in developing effective software to meet the growing demand of consumers. Companies are focused on developing advanced software and bots and integrate with the latest technologies such as AI to fulfill the demands of SMEs and large organizations.
Key robotic process automation market players include
- UiPath
- Automation Anywhere
- Blue Prism
- Pegasystems
- Nice Systems
- Kofax Inc.
- NTT Data Inc.
- HelpSystems
- Rocket Software, Inc.
- EdgeVerve
This market research report on robotic process automation (RPA) includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2020 to 2026 for the following segments
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Market, By Service
- Training & consulting services
- Professional services
Market, By Tool
- Model-based
- Process-based
Market, By Organization Size
- SMEs
- Large enterprises
Market, By Solution
- Automated
- Decision and management support
- Interaction
Market, By Operation
- Rule-based
- Knowledge-based
Market, By Application
- BFSI
- IT & Telecom
- Healthcare
- Manufacturing
- Retail
- Transportation
- Energy & utilities
- Others
The above information has been provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Russia
- Asia Pacific
- China
- India
- Japan
- Australia
- Malaysia
- Singapore
- Latin America
- Brazil
- Mexico
- MEA
- South Africa
- Saudi Arabia
- UAE
Table of Content
Report Content
Chapter 1 Methodology and Scope
1.1 Definitions & forecast parameters
1.1.1 Definitions
1.1.2 Methodology and forecast parameters
1.2 Data Sources
1.2.1 Secondary
1.2.2 Primary
Chapter 2 Executive Summary
2.1 Robotic process automation industry 360° synopsis, 2016 – 2026
2.1.1 Business trends
2.1.2 Service trends
2.1.3 Tools trends
2.1.4 Organization size trends
2.1.5 Solution trends
2.1.6 Operation trends
2.1.7 Application trends
2.1.8 Regional trends
Chapter 3 Industry Insights
3.1 Industry segmentation
3.2 Impact of COVID-19 on robotic process automation industry landscape
3.2.1 Global outlook
3.2.2 Regional impact
3.2.2.1 North America
3.2.2.2 Europe
3.2.2.3 Asia Pacific
3.2.2.4 Latin America
3.2.2.5 MEA
3.2.3 Industry value chain
3.2.3.1 Research & development
3.2.3.2 Marketing
3.2.3.3 Supply
3.2.4 Competitive landscape
3.2.4.1 Strategy
3.2.4.2 Distribution network
3.2.4.3 Business growth
3.3 Industry ecosystem analysis
3.3.1 Technology providers
3.3.2 Software Developers
3.3.3 End use landscape
3.3.4 Distribution channel analysis
3.3.5 Vendor matrix
3.4 Technology & innovation landscape
3.5 Regulatory landscape
3.5.1 North America
3.5.2 Europe
3.5.3 Asia Pacific
3.5.4 Latin America
3.5.5 MEA
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.1.1 High demand to minimize operational cost across businesses in North America
3.6.1.2 Increasing demand for RPA across BFSI and IT & telecom industries in Asia-Pacific
3.6.1.3 Rising collaboration and partnership activities with government to develop public sectors in Europe
3.6.1.4 Increasing demand for automation in oil & gas industries in MEA
3.6.1.5 Rising BPO industry in Latin America
3.6.2 Industry pitfalls & challenges
3.6.2.1 High cost associated with the technology
3.6.2.2 Lack of awareness regarding RPA in underdeveloped and emerging economies
3.7 Growth potential analysis
3.8 Porter's analysis
3.8.1 Supplier power
3.8.2 Buyer power
3.8.3 Threat of new entrants
3.8.4 Threat of substitutes
3.8.5 Internal rivalry
3.9 PESTEL analysis
Chapter 4 Competitive Landscape
4.1 Introduction
4.2 Company market share analysis, 2019
4.3 Key player analysis
Chapter 5 Robotic Process Automation Market, By Service
5.1 Key trends by service
5.2 Training & consulting services
5.2.1 Market estimates and forecast, 2016 – 2026
5.3 Professional services
5.3.1 Market estimates and forecast, 2016 – 2026
Chapter 6 Robotic Process Automation Market, By Tools
6.1 Key trends by tools
6.2 Model-based
6.2.1 Market estimates and forecast, 2016 - 2026
6.3 Process-based
6.3.1 Market estimates and forecast, 2016 – 2026
Chapter 7 Robotic Process Automation Market, By Organization Size
7.1 Key trends by organization size
7.2 SMEs
7.2.1 Market estimates and forecast, 2016 – 2026
7.3 Large enterprises
7.3.1 Market estimates and forecast, 2016 – 2026
Chapter 8 Robotic Process Automation Market, By Solution
8.1 Key trends by solution
8.2 Automated
8.2.1 Market estimates and forecast, 2016 - 2026
8.3 Decision & management support
8.3.1 Market estimates and forecast, 2016 – 2026
8.4 Interaction
8.4.1 Market estimates and forecast, 2016 – 2026
Chapter 9 Robotic Process Automation Market, By Operation
9.1 Key trends by operation
9.2 Rule-based
9.2.1 Market estimates and forecast, 2016 – 2026
9.3 Knowledge-based
9.3.1 Market estimates and forecast, 2016 – 2026
Chapter 10 Robotic Process Automation Market, By Application
10.1 Key trends by application
10.2 BFSI
10.2.1 Market estimates and forecast, 2016 - 2026
10.3 IT & telecom
10.3.1 Market estimates and forecast, 2016 – 2026
10.4 Healthcare
10.4.1 Market estimates and forecast, 2016 - 2026
10.5 Manufacturing
10.5.1 Market estimates and forecast, 2016 – 2026
10.6 Retail
10.6.1 Market estimates and forecast, 2016 - 2026
10.7 Transportation
10.7.1 Market estimates and forecast, 2016 – 2026
10.8 Energy & utilities
10.8.1 Market estimates and forecast, 2016 – 2026
10.9 Others
10.9.1 Market estimates and forecast, 2016 – 2026
Chapter 11 Robotic Process Automation Market, By Region
11.1 Key trends by region
11.2 North America
11.2.1 Market estimates and forecast, by services, 2016 – 2026
11.2.2 Market estimates and forecast, by tools, 2016 – 2026
11.2.3 Market estimates and forecast, by organization size, 2016 – 2026
11.2.4 Market estimates and forecast, by solution, 2016 - 2026
11.2.5 Market estimates and forecast, by operation, 2016 – 2026
11.2.6 Market estimates and forecast, by application, 2016 - 2026
11.2.7 U.S.
11.2.7.1 Market estimates and forecast, by services, 2016 – 2026
11.2.7.2 Market estimates and forecast, by tools, 2016 – 2026
11.2.7.3 Market estimates and forecast, by organization size, 2016 – 2026
11.2.7.4 Market estimates and forecast, by solution, 2016 – 2026
11.2.7.5 Market estimates and forecast, by operation, 2016 – 2026
11.2.7.6 Market estimates and forecast, by application, 2016 – 2026
11.2.8 Canada
11.2.8.1 Market estimates and forecast, by services, 2016 – 2026
11.2.8.2 Market estimates and forecast, by tools, 2016 – 2026
11.2.8.3 Market estimates and forecast, by organization size, 2016 – 2026
11.2.8.4 Market estimates and forecast, by solution, 2016 – 2026
11.2.8.5 Market estimates and forecast, by operation, 2016 – 2026
11.2.8.6 Market estimates and forecast, by application, 2016 – 2026
11.3 Europe
11.3.1 Market estimates and forecast, by services, 2016 – 2026
11.3.2 Market estimates and forecast, by tools, 2016 – 2026
11.3.3 Market estimates and forecast, by organization size, 2016 – 2026
11.3.4 Market estimates and forecast, by solution, 2016 - 2026
11.3.5 Market estimates and forecast, by operation, 2016 – 2026
11.3.6 Market estimates and forecast, by application, 2016 - 2026
11.3.7 Germany
11.3.7.1 Market estimates and forecast, by services, 2016 – 2026
11.3.7.2 Market estimates and forecast, by tools, 2016 – 2026
11.3.7.3 Market estimates and forecast, by organization size, 2016 – 2026
11.3.7.4 Market estimates and forecast, by solution, 2016 – 2026
11.3.7.5 Market estimates and forecast, by operation, 2016 – 2026
11.3.7.6 Market estimates and forecast, by application, 2016 – 2026
11.3.8 UK
11.3.8.1 Market estimates and forecast, by services, 2016 – 2026
11.3.8.2 Market estimates and forecast, by tools, 2016 – 2026
11.3.8.3 Market estimates and forecast, by organization size, 2016 – 2026
11.3.8.4 Market estimates and forecast, by solution, 2016 – 2026
11.3.8.5 Market estimates and forecast, by operation, 2016 – 2026
11.3.8.6 Market estimates and forecast, by application, 2016 – 2026
11.3.9 France
11.3.9.1 Market estimates and forecast, by services, 2016 – 2026
11.3.9.2 Market estimates and forecast, by tools, 2016 – 2026
11.3.9.3 Market estimates and forecast, by organization size, 2016 – 2026
11.3.9.4 Market estimates and forecast, by solution, 2016 – 2026
11.3.9.5 Market estimates and forecast, by operation, 2016 – 2026
11.3.9.6 Market estimates and forecast, by application, 2016 – 2026
11.3.10 Italy
11.3.10.1 Market estimates and forecast, by services, 2016 – 2026
11.3.10.2 Market estimates and forecast, by tools, 2016 – 2026
11.3.10.3 Market estimates and forecast, by organization size, 2016 – 2026
11.3.10.4 Market estimates and forecast, by solution, 2016 – 2026
11.3.10.5 Market estimates and forecast, by operation, 2016 – 2026
11.3.10.6 Market estimates and forecast, by application, 2016 – 2026
11.3.11 Russia
11.3.11.1 Market estimates and forecast, by services, 2016 – 2026
11.3.11.2 Market estimates and forecast, by tools, 2016 – 2026
11.3.11.3 Market estimates and forecast, by organization size, 2016 – 2026
11.3.11.4 Market estimates and forecast, by solution, 2016 – 2026
11.3.11.5 Market estimates and forecast, by operation, 2016 – 2026
11.3.11.6 Market estimates and forecast, by application, 2016 – 2026
11.4 Asia-Pacific
11.4.1 Market estimates and forecast, by services, 2016 – 2026
11.4.2 Market estimates and forecast, by tools, 2016 – 2026
11.4.3 Market estimates and forecast, by organization size, 2016 – 2026
11.4.4 Market estimates and forecast, by solution, 2016 - 2026
11.4.5 Market estimates and forecast, by operation, 2016 – 2026
11.4.6 Market estimates and forecast, by application, 2016 - 2026
11.4.7 China
11.4.7.1 Market estimates and forecast, by services, 2016 – 2026
11.4.7.2 Market estimates and forecast, by tools, 2016 – 2026
11.4.7.3 Market estimates and forecast, by organization size, 2016 – 2026
11.4.7.4 Market estimates and forecast, by solution, 2016 – 2026
11.4.7.5 Market estimates and forecast, by operation, 2016 – 2026
11.4.7.6 Market estimates and forecast, by application, 2016 – 2026
11.4.8 India
11.4.8.1 Market estimates and forecast, by services, 2016 – 2026
11.4.8.2 Market estimates and forecast, by tools, 2016 – 2026
11.4.8.3 Market estimates and forecast, by organization size, 2016 – 2026
11.4.8.4 Market estimates and forecast, by solution, 2016 – 2026
11.4.8.5 Market estimates and forecast, by operation, 2016 – 2026
11.4.8.6 Market estimates and forecast, by application, 2016 – 2026
11.4.9 Japan
11.4.9.1 Market estimates and forecast, by services, 2016 – 2026
11.4.9.2 Market estimates and forecast, by tools, 2016 – 2026
11.4.9.3 Market estimates and forecast, by organization size, 2016 – 2026
11.4.9.4 Market estimates and forecast, by solution, 2016 – 2026
11.4.9.5 Market estimates and forecast, by operation, 2016 – 2026
11.4.9.6 Market estimates and forecast, by application, 2016 – 2026
11.4.10 Australia
11.4.10.1 Market estimates and forecast, by services, 2016 – 2026
11.4.10.2 Market estimates and forecast, by tools, 2016 – 2026
11.4.10.3 Market estimates and forecast, by organization size, 2016 – 2026
11.4.10.4 Market estimates and forecast, by solution, 2016 – 2026
11.4.10.5 Market estimates and forecast, by operation, 2016 – 2026
11.4.10.6 Market estimates and forecast, by application, 2016 – 2026
11.4.11 Malaysia
11.4.11.1 Market estimates and forecast, by services, 2016 – 2026
11.4.11.2 Market estimates and forecast, by tools, 2016 – 2026
11.4.11.3 Market estimates and forecast, by organization size, 2016 – 2026
11.4.11.4 Market estimates and forecast, by solution, 2016 – 2026
11.4.11.5 Market estimates and forecast, by operation, 2016 – 2026
11.4.11.6 Market estimates and forecast, by application, 2016 – 2026
11.4.12 Singapore
11.4.12.1 Market estimates and forecast, by services, 2016 – 2026
11.4.12.2 Market estimates and forecast, by tools, 2016 – 2026
11.4.12.3 Market estimates and forecast, by organization size, 2016 – 2026
11.4.12.4 Market estimates and forecast, by solution, 2016 – 2026
11.4.12.5 Market estimates and forecast, by operation, 2016 – 2026
11.4.12.6 Market estimates and forecast, by application, 2016 – 2026
11.5 Latin America
11.5.1 Market estimates and forecast, by services, 2016 – 2026
11.5.2 Market estimates and forecast, by tools, 2016 – 2026
11.5.3 Market estimates and forecast, by organization size, 2016 – 2026
11.5.4 Market estimates and forecast, by solution, 2016 - 2026
11.5.5 Market estimates and forecast, by operation, 2016 – 2026
11.5.6 Market estimates and forecast, by application, 2016 - 2026
11.5.7 Brazil
11.5.7.1 Market estimates and forecast, by services, 2016 – 2026
11.5.7.2 Market estimates and forecast, by tools, 2016 – 2026
11.5.7.3 Market estimates and forecast, by organization size, 2016 – 2026
11.5.7.4 Market estimates and forecast, by solution, 2016 – 2026
11.5.7.5 Market estimates and forecast, by operation, 2016 – 2026
11.5.7.6 Market estimates and forecast, by application, 2016 – 2026
11.5.8 Mexico
11.5.8.1 Market estimates and forecast, by services, 2016 – 2026
11.5.8.2 Market estimates and forecast, by tools, 2016 – 2026
11.5.8.3 Market estimates and forecast, by organization size, 2016 – 2026
11.5.8.4 Market estimates and forecast, by solution, 2016 – 2026
11.5.8.5 Market estimates and forecast, by operation, 2016 – 2026
11.5.8.6 Market estimates and forecast, by application, 2016 – 2026
11.6 MEA
11.6.1 Market estimates and forecast, by services, 2016 – 2026
11.6.2 Market estimates and forecast, by tools, 2016 – 2026
11.6.3 Market estimates and forecast, by organization size, 2016 – 2026
11.6.4 Market estimates and forecast, by solution, 2016 - 2026
11.6.5 Market estimates and forecast, by operation, 2016 – 2026
11.6.6 Market estimates and forecast, by application, 2016 - 2026
11.6.7 UAE
11.6.7.1 Market estimates and forecast, by services, 2016 – 2026
11.6.7.2 Market estimates and forecast, by tools, 2016 – 2026
11.6.7.3 Market estimates and forecast, by organization size, 2016 – 2026
11.6.7.4 Market estimates and forecast, by solution, 2016 – 2026
11.6.7.5 Market estimates and forecast, by operation, 2016 – 2026
11.6.7.6 Market estimates and forecast, by application, 2016 – 2026
11.6.8 Saudi Arabia
11.6.8.1 Market estimates and forecast, by services, 2016 – 2026
11.6.8.2 Market estimates and forecast, by tools, 2016 – 2026
11.6.8.3 Market estimates and forecast, by organization size, 2016 – 2026
11.6.8.4 Market estimates and forecast, by solution, 2016 – 2026
11.6.8.5 Market estimates and forecast, by operation, 2016 – 2026
11.6.8.6 Market estimates and forecast, by application, 2016 – 2026
11.6.9 South Africa
11.6.9.1 Market estimates and forecast, by services, 2016 – 2026
11.6.9.2 Market estimates and forecast, by tools, 2016 – 2026
11.6.9.3 Market estimates and forecast, by organization size, 2016 – 2026
11.6.9.4 Market estimates and forecast, by solution, 2016 – 2026
11.6.9.5 Market estimates and forecast, by operation, 2016 – 2026
11.6.9.6 Market estimates and forecast, by application, 2016 – 2026
Chapter 12 Company Profiles
12.1 Automation Anywhere
1