Global Enterprise Robotic Process Automation Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope

Enterprise robotic process automation refers to the use of software robots or bots to automate repetitive tasks within an organization’s business processes. These robots mimic human actions to perform rule-based processes across multiple systems, enhancing efficiency, accuracy, and scalability while reducing operational costs.

Sizing and Forecast

The enterprise robotic process automation market size has grown exponentially in recent years. It will grow from $2.08 billion in 2023 to $3.80 billion in 2024 at a compound annual growth rate (CAGR) of 35.6%. The growth in the historic period can be attributed to scalability and flexibility, regulatory compliance, cost reduction initiatives, digital transformation initiatives, and increased competition.

The enterprise robotic process automation market size is expected to see exponential growth in the next few years. It will grow to $12.92 billion in 2028 at a compound annual growth rate (CAGR) of 35.8%. The growth in the forecast period can be attributed to growing demand for workflow efficiency, rising complexity of business processes, increasing volume of data handling, and focus on customer experience enhancement. Major trends in the forecast period include integration with artificial intelligence (AI), expansion into small and medium enterprises (SMEs), cloud-based RPA solutions, the rise of citizen developers, and growing demand for industry-specific RPA solutions.

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Segmentation & Regional Insights

The enterprise robotic process automation market covered in this report is segmented –

1) By Type: Tool Based, Service Based
2) By Process: Automated Solutions, Decision Support And Management Solution, Interaction Solution
3) By Deployment: On-Premise, Cloud
4) By Operation: Rule-Based, Knowledge Based
5) By Industry: Banking, Financial Services And Insurance (BFSI), Telecom And Information Technology (IT), Travel, Hospitality And Transportation, Retail And Consumer Goods, Manufacturing And Logistics, Healthcare And Pharmaceuticals, Other Industries

North America was the largest region in the enterprise robotic process automation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the enterprise robotic process automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

Increasing demand for automation is expected to propel the growth of the enterprise robotic process automation market going forward. Automation refers to utilizing technology, programs, robotics, or processes to accomplish objectives with minimal human intervention. The rising demand for automation is being driven by the need to enhance operational efficiency and agility while reducing reliance on manual processes. Enterprise robotic process automation streamlines repetitive tasks and workflows within organizations, enhancing efficiency and productivity through automated software robots. For instance, in 2023, according to the International Federation of Robotics, a Germany-based non-profit organization, the installation of industrial robots surpassed 500,000 units in 2022, contributing an additional 5% to the previous record of 526,144 units installed in 2021. In Asia, 404,578 units were installed, reflecting a 5% increase from the 2021 figure of 385,143 units. Therefore, the increasing demand for automation is driving the growth of the enterprise robotic process automation market.

Key Industry Players

Major companies operating in the enterprise robotic process automation market are International Business Machines Corporation, Atos SE, Sutherland Bulgaria, Pegasystems Inc., UiPath Inc., Nice Systems Ltd., Verint Systems, Fortra LLC, IPSoft, Automation Anywhere, Symphony AyasdiAI, BlackLine Systems Inc., Appian Corporation, Kofax Inc., Happiest Minds Technologies, Roboyo GmbH, AntWorks, EdgeVerve Systems, Jacada Inc., Ephesoft Inc., Redwood Software Inc., OpenConnect Systems Incorporated, AutomationEdge, ElectroNeek, Cicero Inc., WorkFusion, Celaton Ltd., Kryon Systems

The enterprise robotic process automation market report table of contents includes:

1. Executive Summary

2. Enterprise Robotic Process Automation Market Characteristics

3. Enterprise Robotic Process Automation Market Trends And Strategies

4. Enterprise Robotic Process Automation Market – Macro Economic Scenario

5. Global Enterprise Robotic Process Automation Market Size and Growth
…

32. Global Enterprise Robotic Process Automation Market Competitive Benchmarking

33. Global Enterprise Robotic Process Automation Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Enterprise Robotic Process Automation Market

35. Enterprise Robotic Process Automation Market Future Outlook and Potential Analysis

 

36. Appendix

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