Global Robotic Process Automation Market Growth Analysis With Investment Opportunities

LONDON, GREATER LONDON, UK, June 25, 2024 /EINPresswire.com/ -- The global robotic process automation market is projected to grow from $5.70 billion in 2023 to $7.28 billion in 2024, at a CAGR of 27.8%. The market is anticipated to reach $19.33 billion by 2028, driven by the increasing demand for automation of business processes, growing trends towards industry 4.0, and the rising use of RPA for regulatory reporting in the BFSI industry.

Increased Demand for Automation Drives Market Growth
The increased demand for automation in various industries is expected to boost the growth of the robotic process automation market going forward. Automation refers to the process of utilizing technology or machinery to perform tasks or processes with minimal human intervention. The advancements in artificial intelligence, robotics, and sensor technology are making automation more affordable, accessible, and versatile. Robotic process automation excels at automating repetitive, rule-based tasks such as data entry, extraction, form filling, and other digital processes, enhancing task efficiency by enabling software robots to perform these activities faster and more accurately than humans. For instance, in September 2022, the International Federation of Robotics reported that global companies installed a total of 517,385 new industrial robots in 2021, an increase from 394,000 in 2020. Therefore, the increased demand for automation in various industries is driving the growth of the robotic process automation market.

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Key Players and Market Trends
Major companies operating in the robotic process automation market include Microsoft Corporation, International Business Machines Corporation, Salesforce Inc., Xerox Corporation, Nice Systems Ltd., FPT Software, Pegasystems Inc., UiPath Inc., and Verint Systems Inc.
In a strategic move, Automation Anywhere Inc. launched the automation success platform in October 2022. The platform is designed to accelerate business transformation by democratizing automation, making it accessible to all. It delivers intelligent automation to every employee, empowering both IT and automation leaders to effectively scale success. The platform introduces new document automation, simplifying data extraction from documents and seamless transfer into any application.

Segments:
The robotic process automation market covered in this report is segmented –
1) By Component: Software, Service
2) By Process: Automated Solution, Decision Support and Management Solutions, Interaction Solutions
3) By Operation: Rule Based, Knowledge Based
4) By Deployment: Cloud, On-Premises
5) By Industry: Banking, Financial Services And Insurance, Healthcare And Pharmaceuticals, Manufacturing And Logistics, Telecom And Information Technology, Retail And Consumer Goods, Travel, Hospitality And Transportation, Other Industries

Geographical Insights: North America Leading the Market
North America was the largest region in the robotic process automation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.

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Robotic Process Automation Global Market Report 2024 from TBRC covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Robotic Process Automation Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on robotic process automation market size, robotic process automation market drivers and trends, robotic process automation market major players, competitors' revenues, market positioning, and market growth across geographies. The robotic process automation market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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