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Global Robotic Process Automation Market to Grow at a CAGR of 36.40% During 2021-2026, Aided by the Heightened Demand for Automation of Routine Business Operations

According to a new report by EMR titled, ‘Global Robotic Process Automation Market Report and Forecast 2021-2026’, the market reached a value of around USD 2.23 billion in 2020. It is expected to witness a healthy growth in the forecast period, growing at a CAGR of 36.40% between 2021 and 2026 to attain USD 14.32 billion by 2026.

The global robotics process automation industry is being driven by the heightened demand for automation of routine business operations in a variety of industry verticals. In order to reduce time in monotonous tasks and increase operational efficiency and productivity, organisations are seeking to implement robotic process automation in their different business segments. Moreover, RPA technology allows for reduced errors and operational costs with improved and accurate data processing and enhanced customer service. Furthermore, with on-premise deployment services, organisations can implement RPA technology while ensuring data security and the regulation of RPA based on company policies.

The growing focus of the leading players in the development of robotic process automation technology by utilising advanced technological interventions is expected to positively impact the industry growth in the forecast period. According to a press release dated July 2020, IBM Corporation (NYSE: IBM) announced its plan to acquire WDG Automation, a robotic process automation service vendor based in Brazil, in pursuit to advance AI-infused automation capabilities for business enterprises, which would allow to reduce the time required for understanding, identifying, and responding to an issue.

Furthermore, another leading robotic process automation service vendor Pegasystems Inc (NASDAQ: PEGA), in a press release dated June 2021, announced the selection of its low-code software services for digital transformation by the Royal Air Force and Royal Navy. The new application in the making is a joint low-code platform for candidate recruitment, which is expected to leverage intelligent automation that is expected to reduce the time taken in the recruitment process significantly. Such developments are expected to spearhead the growth of the robotic process automation industry in the forecast period.

Market Breakup by Component, Deployment Model, Organisation Size, Industry Vertical, and Region:

  • The market is bifurcated based on component into software and service.
  • On the basis of the deployment model, the market can be distributed into on-premise and cloud.
  • Based on organisation size, the industry is segregated into large enterprises and small and medium-sized enterprises.
  • The market can be categorised, based on industry vertical, into BFSI, manufacturing, healthcare, IT and telecommunications, retail, and others.
  • Region-wise, the global market for robotic process automation can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for robotic process automation is being driven by the rising demand for the automation of routine business operations. 
  • The increased adoption of robotic process automation across different industry verticals has significantly contributed to the market expansion. 
  • The growing investments in the R&D of robotic process automation technology are also aiding the industry growth. 
  • The rising technological advancements such as the integration of AI technology are expected to further propel the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for robotic process automation for the periods (2016-2020) and (2021-2026). 
  • The report also offers historical (2016-2020) and forecast (2021-2026) market information for the components, deployment models, organisation size, industry verticals, and major regions of robotic process automation.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global robotic process automation market are Automation Anywhere Inc., Blue Prism Limited, EdgeVerve Systems Limited, IBM Corporation, Pegasystems Inc., and others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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