Global Robotic Process Automation (RPA) Market Analysis 2024: Size Forecast and Growth Prospects

The robotic process automation (rpa) global market report 2024 from 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 (RPA) Market, 2024 report 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 (RPA) market size has grown exponentially in recent years. It will grow from $6.34 billion in 2023 to $7.94 billion in 2024 at a compound annual growth rate (CAGR) of 25.2%.  The  growth in the historic period can be attributed to increased cost efficiency, increased process efficiency and accuracy, scalability, compliance and risk mitigation, enhanced customer experience.

The robotic process automation (RPA) market size is expected to see exponential growth in the next few years. It will grow to $19.21 billion in 2028 at a compound annual growth rate (CAGR) of 24.7%.  The growth in the forecast period can be attributed to increasing cloud-based RPA solutions, increased adoption in SMEs, increasing focus on intelligent automation, increasing cross-industry adoption. Major trends in the forecast period include product innovations, partnerships, technological advancements, adopting innovative practices to attract and engage more customers.

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Scope Of Robotic Process Automation (RPA) 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 (RPA) Market Overview

Market Drivers –
The increasing demand for automation of business processes is expected to propel the growth of the robotic process automation (RPA) market going forward. Business process automation (BPA) refers to the use of technology to streamline and automate routine and manual tasks within organizational processes. Increasing demand for automation of business processes is driven by the pursuit of efficiency, cost savings, and enhanced productivity in today’s competitive and rapidly evolving business landscape. Robotic process automation (RPA) addresses the increasing demand for automation of business processes by offering advanced technological solutions that streamline operations and enhance efficiency, allowing organizations to automate repetitive and rule-based tasks, such as data entry, invoice processing, and report generation, which were traditionally performed manually. For instance, in December 2023, according to a European Commission report, the Belgium-based independent executive arm, AI adoption has seen a significant rise among businesses, with 8% of EU enterprises incorporating artificial intelligence technologies. Among large EU enterprises, the adoption rate is even higher at 28%, and 53% of EU enterprises utilizing AI have opted for off-the-shelf commercial AI software or systems. Therefore, the increasing demand for automation of business processes is driving the growth of the robotic process automation (RPA) market.

Market Trends –
Major companies operating in the robotic process automation (RPA) market are developing advanced solutions such as RPA (Robotics Processing Automation) technology to faster purchase processes for repeat customers. The technology enhances operational efficiency by automating repetitive tasks, reducing errors, and increasing productivity in business processes. For instance, in December 2022, Liquid Payments Inc. (LQ), a US-based omnichannel healthcare payments platform, launched a One-Click Payment integration based on robotic process automation (RPA), providing medical and dental practices with enhanced ease, reliability, and efficiency in processing patient payments. This solution is tailored to optimize the payment experience for both patients and practices and can be seamlessly integrated into any healthcare practice management system. The recent update includes a refined integration layer, further enhancing the connection between patient payments and the underlying Practice Management System (PMS). The outcome is a streamlined and efficient process, ensuring faster and more accurate patient payments for healthcare practices.

The aerospace support and auxiliary equipment market covered in this report is segmented –
1) By Type: Commercial Radars, Satellites
2) By Ownership: Public, Private
3) By Platform: Airborne, Land, Naval, Space

Subsegments Covered: Continuous Waveform, Pulse Waveform, Large Satellite, Mini Satellite, Micro Satellite, Nano Satellite

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

Major companies operating in the robotic process automation (RPA) market are Microsoft Corporation, International Business Machines Corporation, SAP SE, CGI Inc., Xerox Corporation, Genpact Limited, Nice Systems Ltd., Pegasystems Inc., Verint Systems Inc., UiPath Inc., FPT Software, BlackLine Inc., KOFAX Inc., Automation Anywhere Inc., IPsoft Inc., NTT Advanced Technology Corp., EdgeVerve Systems Ltd., Datamatics Global Services Limited, Uniphore., WorkFusion Inc., Redwood Software, Jacada Inc., AutomationEdge Technologies Inc., Kyron Systems, OnviSource Inc., Salesforce (Servicetrace GmbH/Mulesoft Inc.), Blue Prism Group PLC, Be Informed B.V., Jidoka, HelpSystems LLC (HGGC)

Table of Contents
1. Executive Summary
2. Robotic Process Automation (RPA) Market Report Structure
3. Robotic Process Automation (RPA) Market Trends And Strategies
4. Robotic Process Automation (RPA) Market – Macro Economic Scenario
5. Robotic Process Automation (RPA) Market Size And Growth
…..
27. Robotic Process Automation (RPA) Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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