Global US $ 7.64 Bn Robotic Process Automation Market Outlook to 2028
The global Robotic Process Automation Market Size is expected to rise with an impressive CAGR and generate the highest revenue by 2029. Fortune Business Insights™ in its latest report published this information. The report is titled "Robotic Process Automation Market Size, Share and Trends Forecast". The report discusses research objectives, research scope, methodology, timeline and challenges during the entire forecast period [2022 - 2029].
- Fortune Business Insights says that the market value stood at US $ 1.29 Billion in 2020
- By 2028, the Robotic Process Automation Market size is expected to reach US $ 7.64 Billion
- The market is expected to grow at a CAGR of 21.3% in the forecast period (2021-2028).
- The growth rate of the Global Robotic Process Automation Market is 21.3%, with an estimated value of US $ 7.64 Billion million by 2028.
Driving Factor:
Increasing Adoption of Advanced Technologies to Fuel Market Growth
The increasing demand for automated technology by companies to handle their complex and unstructured information and automate their businesses end to end is expected to drive the robotic process automation market growth in upcoming years. Additionally, the combination of RPA technology with artificial intelligence as well as technologies is helping in extending the horizons of business processes. Using such advanced technologies helps automatically observe work activities, recognize optimal workflows, and suggest a self-regulatory path to businesses. For instance, in May 2020, AntWork announced the launch of ANTstein, an AI, RPA, and machine learning integrated platform. With this launch, the company aims to offer maximum bot utilization, insights into all types of data, data curation, and building.
Major companies in Robotic Process Automation Market Report are:
- Automation Anywhere (California, U.S.)
- Blue Prism PLC (Warrington, U.K.)
- IPsoft Inc. (New York,U.S.)
- Kofax, Inc. (California,U.S.)
- Nice Systems Ltd. (Ra'anana, Israel)
- NTT Advanced Technology Corporation (Kanagawa, Japan)
- Pegasystems, Inc. (Massachusetts,U.S.)
- Redwood Software (Houten, Netherlands)
- Uipath SRL (New York,U.S.)
- OnviSource, Inc. (Texas, U.S.)
Pre-Post COVID-19 Impact on Global Robotic Process Automation Market
COVID-19 is an infectious disease caused by the most recently discovered novel corona virus. Largely unknown before the outbreak began in Wuhan (China) in December 2019, COVID-19 has moved from a regional crisis to a global pandemic in just a matter of a few weeks.
In addition, production and supply chain delays were also witnessed during the second quarter which poised a challenge to the Robotic Process Automation Market, since end-user industries were still not operating at their full capacity.
Secondary Research:
This research study made extensive use of secondary sources, directories, and databases such as Hoover’s, Bloomberg BusinessWeek, Factiva, and OneSource to identify and collect information useful for a technical, market-oriented, and commercial study of the global Robotic Process Automation Market. Other secondary sources included company annual reports, press releases, and investor presentations, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.
Primary Research:
Various sources from both the supply and demand sides were interviewed during the primary research process to obtain qualitative and quantitative information for this report. Primary sources included industry experts from the core and related industries, as well as preferred suppliers, manufacturers, distributors, technology developers, researchers, and organizations from all segments of the value chain of this industry. To obtain and verify critical qualitative and quantitative information, in-depth interviews were conducted with a variety of primary respondents, including key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants.
Estimation of Market Size
The total size of the Robotic Process Automation Market was estimated and validated using both top-down and bottom-up approaches. These methods were also widely used to estimate the size of various market sub segments. The following research methodologies were used to estimate market size:
Extensive secondary research was used to identify the industry’s key players.
The revenues generated by the market’s leading players in molecular diagnostics have been determined through primary and secondary research.
All percentage shares, splits, and breakdowns were calculated using secondary sources and confirmed using primary sources.
FAQ's:
1. How big is Robotic Process Automation Market?
The global robotic process automation market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 21.3% during the forecast period, to Reach USD 7.64 Billion by 2028, from USD 1.29 Billion in 2020
2. Who is the market leader in Robotic Process Automation?
Major Points in Table of Content:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Key Takeaways
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global Market Share Analysis and Matrix, 2020
- Key Market Insights and Strategic Recommendations
- Profiles of Key Players
- Overview
- Key Management
- Headquarters etc.
- Offerings/Business Segments
- Key Details
- Employee Size
- Key Financials
- Past and Current Revenue
- Geographical Share
- Business Segment Share
- Recent Developments
- Annexure / Appendix
- Global Robotic Process Automation Market Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
TOC Continued...!
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