USD 2.58 Billion
Robotic Process Automation Market Size, Share, Growth Analysis, By Type(Tool-based, Service-based), By Organization Size(Small and Medium Enterprises, Large Enterprises), By Process(Automated Solution, Decision Support and Management Solution, Interaction Solution), By Operation(Rule-based, Knowledge-based), By End User(Banking, Financial Services, Insurance, Telecom and IT Industry), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG45J2216 |
Region:
Global |
Published Date: August, 2024
Pages:
157
|Tables:
116
|Figures:
77
Robotic Process Automation Market Insights
Robotic Process Automation Market size was valued at USD 3.39 Billion in 2023 and is poised to grow from USD 4.46 Billion in 2024 to USD 39.9 Billion by 2032, growing at a CAGR of 31.50% during the forecast period (2025-2032).
Growing demand for efficiency and productivity across all industry verticals is projected to primarily bolster the demand for robotic process automation over the coming years. Increasing digital transformation around the world and rising complexity of regulatory mandates are also estimated to favor robotic process automation market development going forward. Rising labor costs, high emphasis on resource utilization, and advancements in robotic technologies are other factors that are estimated to create new opportunities for robotic process automation providers in the future. Dearth of skilled workforce is also a key factor that is slated to promote the adoption of robotic process automation across the forecast period and beyond. However, resistance to change, complex deployment, and return on investment concerns are estimated to be major restraints that robotic process automation companies will have to deal with in the future.
US Position Sensor Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024–2031
Global Market Size
Largest Segment
Process
Fastest Growth
Process
Growth Rate
31.5% CAGR
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Robotic Process Automation Market Segmental Analysis
The robotic process automation market is segmented based on Type, Process, Operation, Organization Size, End User and Region. Based on Type it is categorized into Tool Based (Model-Based Application Tools, Process-Based Application Tools) Service Based (Consulting, Integration and Development, Training. In terms of organization size, the market is divided into large enterprises and small and medium enterprises (SMEs). Based on Process it is categorized into Automated Solution, Decision Support and Management Solution, Interactive Solution. Based on Operation, it is categorized into Rule Based, Knowledge Based. Based on End User it is categorized into Banking, Financial Services, and Insurance, Telecom and IT Industry, Travel, Hospitality, and Transportation Industry, Retail and Consumer Goods, Manufacturing and Logistics Industry, Healthcare and Pharmaceuticals, Other Industries. Based on region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Organization Size
Large enterprises are leading the demand for robotic process automation owing to their high spending potential and quick adoption of advanced technologies. Large enterprises are continually focusing on enhancing their productivity and efficiency, which is contributing to the dominance of this segment. The costs of robotic process automation deployment for large enterprises are easily outweighed by its benefits, which is why this will remain a major segment for robotic process automation companies going forward.
On the other hand, the demand for robotic process automation in small and medium enterprises (SMEs) is projected to surge at an impressive pace across the study period. Growing affordability of robotic process automation and rising awareness regarding its benefits are making this segment a highly opportune one over the coming years. Emphasis on resource utilization is also predicted to help boost market growth via this segment.
Analysis by Type
Service-based robotic process automation is projected to bring in the most revenue for robotic process automation companies across the forecast period. From consulting to maintenance, almost all aspects of robotic process automation adoption require services due to its novel nature. The growing trend of outsourcing complex operations to enhance resource utilization is also a key factor that is promoting the demand for service-based robotic process automation over the coming years.
Meanwhile, the demand for tool-based robotic process automation is expected to increase at a robust pace across the study period and beyond. Rising investments in the development of new software and applications to automate repetitive tasks and advancements in robotic process automation technologies are helping this segment generate new business opportunities going forward.
Global Robotic Process Automation Market By Process (%)
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Robotic Process Automation Market Regional Insights
The early technology adopter status of North America allows it to dominate the global robotic process automation market share. Growing number of organizations opting for robotic process automation in this region are helping it maintain its dominant stance. Moreover, rising awareness regarding benefits of robotic process automation adoption and rising need for better solutions to ensure regulatory compliance are also helping North America’s high market share. Canada and the United States are expected to be the most opportune markets for robotic process automation providers in this region. High acceptance of automation technologies among employees in this region will also favor robotic process automation adoption in the future.
On the other hand, the Asia-Pacific region emerges as the fastest-growing market for robotic process automation owing to growing digitization and the rising popularity of automation. The presence of a robust industrial ecosystem and supportive government initiatives to promote digital tech adoption are helping create new business opportunities in this region. China remains the top market for robotic process automation companies in this region followed by Japan, South Korea, and India. Increasing labor costs in this region and emphasis on automation adoption are slated to bolster robotic process automation market growth in the long run.
Global Robotic Process Automation Market By Geography
- Largest
- Fastest
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Robotic Process Automation Market Dynamics
Drivers
High Demand for Operational Efficiency through Automation
- Almost all industry verticals are focusing on improving their productivity and efficiency to maximize profits in this volatile economic landscape through automation adoption. This trend is projected to promote the demand for robotic process automation across the forecast period and beyond.
Adoption of Digital Transformation
- Digitization has reached almost all walks of life and this trend is creating an opportune setting for robotic process automation companies going forward. Companies opting for digital transformation are more open to the idea of opting for robotic process automation thereby driving market development.
Restraints
Resistance to Change
- Workforce displacement concerns have led to employee pushback when it comes to automation adoption in any industry vertical. This is due to unresolved concerns and lack of knowledge regarding the role of automation in businesses and productivity enhancement.
Return on Investment Concerns
- High initial investments are associated with adoption of robotic process automation and this raises return on investment concerns among adopters with limited spending potential. Added costs of support and maintenance further add up to concerns regarding returns on investments and hinder adoption.
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Robotic Process Automation Market Competitive Landscape
Robotic process automation companies should focus on diversifying their offerings for multiple industries to increase their market share. Integrating other advanced technologies will also create new business scope for robotic process automation providers in the future. Developing custom robotic process automation solutions catering to specific applications will also be a popular strategy for market players. Partnerships and collaborations will play a vital role in expanding the market presence of all companies involved.
Top Player’s Company Profiles
- Automation Anywhere (USA)
- UiPath (USA)
- WorkFusion (USA)
- NICE (Israel)
- Pegasystems (USA)
- Redwood Software (Netherlands)
- SAP (Germany)
- Appian (USA)
- EdgeVerve (India)
- HelpSystems (USA)
- Datamatics (India)
- Epiance (India)
- AutomationEdge (India)
- Xerox Corporation
- Verint System Inc
- Uipath SRL
- Celaton Ltd.
- Ipsoft, Inc.
- Arago Us, Inc.
- IBM
Recent Developments
- In December 2023, Saudia Private, a luxury aviation provider from Saudi Arabia announced the soft launch of robotic process automation. The company intended to improve user experience and enhance operational efficiency during high-volume operations during peak seasons.
- The largest producer of aluminium in India, Vedanta Alumnium, announced that it had introduced robotic process automation in its operations in February 2023. The company became the first one in the Indian metal market to opt for hyper automation technology for its commercial operations.
Robotic Process Automation Key Market Trends
- Cost-effective Robotic Process Automation Solutions: While large enterprises have embraced robotic process automation with open arms, the same cannot be said for small and medium enterprises. Crafting affordable yet scalable robotic process automation solutions for SMEs will be a major trend to explore in the long run.
Robotic Process Automation Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing adoption of automation and high emphasis on operational efficiency improvement are estimated to bolster robotic process automation market growth in the future. On the contrary, workforce displacement concerns, high cost of deployment, and resistance to change are slated to be key restraints for market growth across the forecast period and beyond. North America holds sway over global robotic process automation demand owing to the early adoption of novel technologies by enterprises in this region. Developing affordable robotic process automation solutions for SMEs is projected to be a key trend for the future.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 2.58 Billion |
| Market size value in 2031 | USD 30.34 Billion |
| Growth Rate | 31.50% |
| Base year | 2023 |
| Forecast period | 2024–2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Robotic Process Automation Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Robotic Process Automation Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Robotic Process Automation Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Robotic Process Automation Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Robotic Process Automation Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Robotic Process Automation Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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