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Robotic Process Automation Market To Reflect Tremendous Growth Potential With A CAGR Of 40.6% By 2025: Grand View Research Inc.

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Robotic Process Automation Market To Reflect Tremendous Growth Potential With A CAGR Of 40.6% By 2025: Grand View Research Inc.

February 19
17:12 2021
Robotic Process Automation Market To Reflect Tremendous Growth Potential With A CAGR Of 40.6% By 2025: Grand View Research Inc.

“Grand View Research, Inc. – Market Research And Consulting.”
According to a recent report published by Grand View Research Inc., the organization’s need to automate structured and a repetitive processes to focus on core business activities to reduce operation time and effort are likely to accelerate the market expansion.

According to a report, “Robotic Process Automation Market Size, Share & Trends Analysis Report By Type (Software, Service), By Application (BFSI, Retail), By Organization, By Service, By Deployment, By Region, And Segment Forecasts, 2020 – 2025”, published by Grand View Research, Inc. The global robotic process automation market size is expected to reach USD 25.56 billion by 2025, registering a lucrative growth rate of 40.6%, as per a new report by Grand View Research, Inc. The Robotic Process Automation (RPA) can be executed across several business departments to automate various processes such as order processing, customer, employee, vendor onboarding, payroll processing, and report aggregation.

The integration of technology to automate repetitive tasks across industries has resulted in reduced human error, accelerated work, and increased throughput. The integration of RPA with cognitive technologies including machine learning, speech recognition, and Natural Language Processing (NLP) is capable of maintaining higher-order tasks with Machine Learning (ML) & Artificial Intelligence (AI) assistance without humans’ decision-making intervention. RPA is designed to minimize repetitive tasks by applying a set of predefined procedures that do not require knowledge, while the incorporation of AI allows RPA softbots to function as a knowledge-based dynamic system to work beyond an automated cognitive system. 

The COVID-19 pandemic has stemmed a need for cost saving by tumbling the number of employees involved in completing redundant tasks or enhancing the efficiency of its workforce with automation software. The adoption of robotic process automation has surged in small and medium companies that need to monitor its cost and human resource precisely to save on additional expenses

U.S. robotic process automation market size, by type, 2016 - 2027 (USD Billion)

Robotic Process Automation Market Highlights

  1. The COVID-19 pandemic is projected to accelerate the demand for a digital workforce and has opened up many opportunities for RPA players since the businesses have started their return towards normality. Furthermore, the companies that have already implemented RPA projects before the COVID crisis had hit, have been successful in staying lean and have earned them monetary benefits amid the ongoing pandemic

  2. In February 2021, Digital Workforce announced that its Azure Cloud-based Roboshore service is being increasingly adopted by dozens of large organizations since the day of launch, including global technology company Nasdaq

  3. The BFSI application is the leading segment and accounted for more than a 29% share of the overall revenue in 2019. RPA implementation is set to gain traction in the BFSI sector due to the rising automation of business tasks, including compliance regulations, data entry, and assembly & formulation

  4. North America held the largest revenue share of more than 37% of the global revenue in 2019 and can be attributed to the increased adoption of automation and process management solutions

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Robotic Process Automation Market Segmentation

Grand View Research has segmented the global robotic process automation market report on the basis of type, service, deployment, organization, application, and region:

  • Type Outlook (Revenue, USD Million, 2016 – 2027)

  • Software

  • Service

  • Service Outlook (Revenue, USD Million, 2016 – 2027)

    • Consulting

    • Implementing

    • Training

  • Deployment Outlook (Revenue, USD Million, 2016 – 2027)

    • Cloud

    • On-Premise

  • Organization Outlook (Revenue, USD Million, 2016 – 2027)

    • Large Enterprise

    • Small and Medium Enterprises (SMEs)

  • Application Outlook (Revenue, USD Million, 2016 – 2027)

    • BFSI

    • Pharma & Healthcare

    • Retail & Consumer Goods

    • Information Technology (IT) & Telecom

    • Communication and Media & Education

    • Manufacturing

    • Logistics, and Energy & Utilities

    • Others

  • Regional Outlook (Revenue, USD Million, 2016 – 2027)

    • North America

  • The U.S.

  • Canada

  • Europe

    • France

    • Germany

    • The U.K.

  • Asia Pacific

    • China

    • India

    • Japan

    • ANZ

    • Singapore

    • ASEAN

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa (MEA)

List of Key Players in Robotic Process Automation Market

  1. UiPath

  2. Automation Anywhere

  3. Blue Prism

  4. NICE

  5. Pegasystems

  6. KOFAX INC.

  7. NTT Advanced Technology Corporation

  8. EdgeVerve Systems Limited

  9. FPT software

  10. OnviSource, Inc.

  11. HelpSystems

Have Any Query? Ask Our Experts for More Details on Report:https://www.grandviewresearch.com/inquiry/3213/ibb

Browse Related Report @

Robotic Process Automation in BFSI Market – https://www.grandviewresearch.com/industry-analysis/robotic-process-automation-bfsi-market

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About Grand View Research

Grand View Research is a market research and consulting company based in the State of California with headquarters in San Francisco. The company offers consulting services tailored for business organizations to assist them with understanding and exploring their potential on a large scale. At the same time, Grand View Research caters to the individual research needs to provide a customized research service.
Grand View Research is fully committed to offer the best research services in the Industry. Our dedicated team of experienced analysts offer full capability and potential to precisely understand your research needs.

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Website: https://www.grandviewresearch.com/industry-analysis/robotic-process-automation-rpa-market

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