Global Robotic Process Automation (RPA) Market to Generate USD 18.69 Billion by 2030, Outlines a New Report by Next Move Strategy Consulting
The robotic process automation industry is mainly driven by development in the robotics industry, the adoption of RPA in the automotive and aerospace industry, along with the involvement of various governments in the deployment of RPA setups. In addition, the increase in demand for efficient and errorless work by telecom and logistics companies contributed into the global RPA market growth.
New York, Feb. 20, 2023 (GLOBE NEWSWIRE) — According to a report published by Next Move Strategy Consulting, the Global Robotic Process Automation Market generated USD 2.27 billion in 2021 and is projected to reach USD 18.69 billion by 2030, witnessing a CAGR of 22.5% from 2022 to 2030. The study provides a thorough examination of shifting market trends, in-depth segmentation, leading market players, and regional circumstances.
The report aims to serve as a useful source of information for leading players, investors, and startups to take the necessary actions to achieve a sustainable growth and competitive advantage. It does this by providing a detailed analysis of every aspect of the E-mobility services industry.
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| Report Coverage | Details |
| Forecast Period | 2022–2030 |
| Base Year | 2021 |
| Market Size in 2021 | USD 2.27 Billion |
| Market Size in 2030 | USD 18.69 Billion |
| CAGR | 22.5% |
| No. of Pages | 392 |
| Tables | 321 |
| Figures | 296 |
| Segments covered | By Component, By Process, By Application, By Deployment, By Organization Size and By End-use Industry. |
| Drivers | The rising development of RPA-enabled self-learning conversational chatbots drives the market growth |
| Increasing adoption of advanced technologies such as AI, cloud, and machine learning boosts the market growth | |
| Developments and innovations in RPA to fulfil consumer demands | |
| Opportunities | Increasing focus on human-aware AI systems and the development of smarter robots create opportunities for the market |
The report provides an extensive analysis of changing market trends in the global robotic process automation industry, based on drivers, restraints and opportunities. The robotic process automation (RPA) market is generally driven by the development of self-learning conversational chatbots.
Additionally, the market is growing as more people begin to use cutting-edge technologies like AI, cloud computing, and machine learning. Moreover, the presence of market players and deployment of RPA in the BFSI sector is expected to drive the growth of the robotic process automation (RPA) market. However, the rise in prices of RPA tools restrains market growth.
Lead Analyst at Next Move Strategy Consulting stated that “Increasing focus on human-aware AI systems and development of smarter robots” is expected to create new opportunities for the market in the coming years.”
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North America accounted for the highest market share in RPA industry and is estimated to maintain its dominance throughout the forecast period. The RPA industry is mainly driven by several government initiatives for the adoption of RPA in administration along with a rise in the deployment of RPA in the BPO industry. In addition, a rise in the number of corporate offices that adopts RPA tools for increasing the efficiency of employees propels market growth.
However, due to factors like the region’s abundance of manufacturing and logistics firms, Europe is predicted to grow steadily throughout the forecast period. In addition, the RPA market in Europe is also driven by the increasing demand for automated customer support across various industry verticals such as BFSI, IT & telecommunication.
The report uses tabular and graphical formats to analyze every region based on segments and their sub-segments. This analysis is useful for figuring out what steps should be taken to expand the RPA market.
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The report offers a detailed analysis of leading market players in the robotic process automation industry. Some of the major players in the market include UiPath, Inc, Automation Anywhere, Blue Prism Limited, Nice Ltd., Pega System, Kofax Inc, NTT-AT, EdgeVerve System, HelpSystems and WorkFusion, Inc.
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