Robotic Process Automation Market Perceives Worth 2,700 Million USD by 2023: Anticipates MRFR

RPA Market
The Robotic Process Automation Market is expected to grow at approximately USD 2,700 Million by 2023, at 29% of CAGR between 2017 and 2023.

Market Highlights

On the basis of regional analysis, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World.  North America region is generating highest market share in robotics process automation market owing to higher technology implementation. North America region is leading due to presence of major players from the region in the robotics process automation market. The implementation of RPA software by both small and medium enterprises is increasing rapidly. In US region, the implementation of RPA software in BFSI sector accounts for highest market share. Due to its capabilities to improve efficiency and reduce operational cost is driving the Robotic Process Automation Market in the region. The study also indicates, the high implementation of RPA software in financial and human resource domain is driving the market in the region. Mexico region also witnessed large utilization of RPA technology in manufacturing industry.

 

The prominent players in the robotic process automation market are- Automation Anywhere (U.S.), Blue Prism (U.K.), Celaton Ltd (U.K.), Ipsoft (U.S.), Nice Systems Ltd. (Israel), Pegasystems (U.S.), Redwood Software (U.S.), Uipath (Romania), Verint (U.S.), Xerox Corporation (U.S.), among others.

 

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Robotic Process Automation Market Segmentation

By industry segment the robotics process automation market consists of BFSI, healthcare & pharmaceutical, manufacturing & logistics, IT & Telecommunication among others. In US region, there is a high implementation of RPA technology in BFSI sector due to its efficient data processing and workflow management capabilities. Owing to its high flexibility and scalability, there is a rapid deployment of robotics process automation technology in BFSI domain.

 

Market Research Analysis:

By regional analysis, the market consists of North America, Europe, Asia-Pacific and Rest of the World. North America region is dominating the robotics process automation market. Asia-Pacific is few of the prominent players in the market owing to increase utilization of robotics automation process in healthcare & pharmaceuticals, retail, BFSI, IT & telecommunication industry among others. The robotics automation process witnessed its implementation in manufacturing industry. The region witnessed high growth in the market due to emerging economies from countries such as China and India that offers outsourcing services, that is boosting the market in the region. Increased operational efficiency and low cost, reduction in overall employee strength, leveraging BFSI sector and other benefits associated with it is driving the market in the region. Europe region is expected to be one of the prominent players owing to presence of RPA technology in rich manufacturing and logistics sector. Also, economies from countries such as Germany, Russia, Spain and Denmark is having high adoption of RFA technology in various industrial sector. The study indicates, Europe region is expected to witness high market growth due to high adoption of RPA technology in healthcare and manufacturing sector.

 

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