Automation Market is expected to grow at a CAGR of 32.8%, till 2028
Over the forecasted period (2021-2028), the Robotic Process Automation Market is anticipated to develop at a CAGR of 32.8%, reaching an estimated value of USD 1,570 million in 2020.
More Info, Click to Access Complete Report – https://www.gmiresearch.com/report/robotic-process-automation-market/
The factors driving growth of the Robotic Process Automation Market includes increasing application of robotic process automation for data entry, accounting/finance, procurement detail, and record keeping, growing demand for automation in Business Process Outsourcing (BPO) sector and improvements in the living standards. Robotic Process Automation solutions help companies to carry out high-volume, repetitive, and monotonous tasks, saves both time and costs, aids in meeting regulatory compliance, enhances customer’s experience, and minimize business response time, are some of the features pushing the Robotic Process Automation Market size. Moreover, growing adoption of advanced technologies such as Artificial Intelligence (AI), Machine Learning (ML) and Cloud Computing, rise in the launch of innovative products and rapid urbanization, are some of the additional factors supplementing the Global Robotic Process Automation Market. In addition, increasing investments by major corporations on research and development, strategic collaborations, and partnerships between key industry leaders, rising population growth rates and growing disposable incomes, are further contributing towards the market growth.
However, growth of the Robotic Process Automation Market is hindered attributed to its high cost.
The leading players operating in the Robotic Process Automation Market includes OnviSource, Inc., Automation Anywhere, Inc., Blue Prism Limited, Pegasytems, Inc., International Business Machines Corporation, Appian Corporation, Nice Ltd., NTT Advanced Technology Corporation, Infosys Limited, and FPT Corporation, among others.
Based on Deployment Mode, the Cloud segment is expected to grow at a fastest CAGR in upcoming years
Cloud based deployment minimize maintenance costs, reduces the cost of infrastructure, and are highly scalable, are some of the features pushing the segment’s growth.
Based on Industry Vertical, the BFSI segment is projected to grow at a robust CAGR over the forecast period
Robotic process automation solutions are increasingly used in BSFI sector because it automates time consuming tasks processes such as customer service, compliance, credit card processing, and mortgage processing, are propelling growth of the segment.
Based on Region, the North America region is projected to increase at as highest CAGR over the forecast period
Increasing demand by companies for automating different processes, rising adoption of advanced technologies by major corporations, presence of the companies such as International Business Machines Corporation and Appian Corporation and high per capita incomes, are some of the important factors augmenting the Robotic Process Automation Market share in North America.
Segmentation by Deployment Mode
Segmentation by Size of Enterprise
Segmentation by Industry Vertical
Segmentation by Region
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland