The robotic process automation in finance global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Robotic Process Automation In Finance Market, 2024report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The robotic process automation in finance market size has grown exponentially in recent years. It will grow from $7.87 billion in 2023 to $9.82 billion in 2024 at a compound annual growth rate (CAGR) of 24.8%. The growth in the historic period can be attributed to cost reduction, regulatory compliance, data accuracy, competitive advantage, enhanced customer experience.
The robotic process automation in finance market size is expected to see exponential growth in the next few years. It will grow to $24.12 billion in 2028 at a compound annual growth rate (CAGR) of 25.2%. The growth in the forecast period can be attributed to automation of regulatory reporting and compliance tasks, integration capabilities, digital transformation initiatives, improved customer experience, integration of RPA with advanced analytics. Major trends in the forecast period include integration with AI and ML, shift towards cloud-based RPA solutions, adoption of cognitive automation, human-automation collaboration, enhanced security features.
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Scope Of Robotic Process Automation In Finance Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Robotic Process Automation In Finance Market Overview
Market Drivers –
The rising adoption of cloud-based solutions is expected to propel the growth of robotic process automation in the finance market going forward. A cloud-based solution is a software or service hosted, managed, and accessed remotely over the internet, typically through a provider’s servers. Cloud-based solutions allow businesses to scale their resources up or down based on demand, providing flexibility to accommodate growth or fluctuations in usage. Cloud-based RPA enables financial institutions to implement automation solutions quickly and efficiently while simplifying maintenance and updates. For instance, in January 2023, according to Google Cloud, a US-based software development organization, in 2022, 26% of individuals indicated using multiple public cloud-based solutions, an increase from 21% in 2021. Therefore, the rising adoption of cloud-based solutions is driving the growth of robotic process automation in the finance market.
Market Trends –
Major companies operating in the robotic process automation in the finance market are focusing on developing end-to-end automation through robotic process automation to streamline operations, reduce costs, minimize errors, and enhance overall efficiency in financial processes. End-to-end automation in finance revolutionizes traditional financial operations, enabling organizations to achieve greater efficiency, accuracy, transparency, and compliance while reducing manual effort, errors, and operational costs. For instance, in July 2023, SMA Technologies, a US-based software company, introduced OpCon RPA, adding Robotic Process Automation (RPA) capabilities to its automation platform for financial services. This addition enables clients to automate UI-specific workflows on Windows or the web, enhancing operational efficiency and reducing manual intervention in financial services workflows. OpCon RPA by SMA Technologies is tailored to address specific workflows unique to banks, credit unions, and other financial institutions, offering a specialized solution amidst a diverse RPA marketplace.
The robotic process automation in finance market covered in this report is segmented –
1) By Product: Software, Hardware, Services
2) By Organization Size: Small And Medium Enterprises, Large Enterprises
3) By Application: Asset Management, Fund And Security Services, Retail And Lending Management, Trading And Financial Management, Insurance, Other Applications
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Regional Insights –
North America was the largest region in the robotic process automation in finance market in 2023. The regions covered in the robotic process automation in finance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the robotic process automation in finance market are Microsoft Corporation Inc., SAP SE, Capgemini Technology Services India Limited, ServiceNow Inc., Xerox Corporation, Automation Anywhere Inc., Verint Systems Inc., Infosys Technologies Private Limited, Fortra LLC, BlackLine Systems Inc., EdgeVerve Systems Ltd., Prolifics Corporation Private Limited, Datamatics Technologies Private Ltd., AntWorks Pte. Ltd., Tungsten Automation Corporation, Kryon Systems Ltd., Jiffy.ai, ElectroNeek Robotics Inc., Celaton Ltd, OpenConnect Systems Inc., AutomationEdge Technologies Inc., WorkFusion Inc., CloudStorm LLC, Beijing Laiya Network Technology Co. Ltd., UiPath Inc.
Table of Contents
1. Executive Summary
2. Robotic Process Automation In Finance Market Report Structure
3. Robotic Process Automation In Finance Market Trends And Strategies
4. Robotic Process Automation In Finance Market – Macro Economic Scenario
5. Robotic Process Automation In Finance Market Size And Growth
…..
27. Robotic Process Automation In Finance Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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