NEW YORK - March 23, 2020 - According to a new report Global Robotic Process Automation Market, published by KBV Research, The Global Robotic Process Automation Market size is expected to reach $7.2 billion by 2025, rising at a market growth of 32.6% CAGR during the forecast period.
The largest market share in 2019 was recorded by the large enterprises segment. Increasing demand for autonomy has accelerated the acceptance and adoption of virtual workforce by large companies. The adoption of RPA by large enterprises helps them to rely on automation to increase efficiency, lower costs, minimize human errors, and enhance compliance with regulations.
The on-premise segment represented the largest share of the market in 2019. Traditionally, robotic process automation deployment was introduced in large-scale organizations, which allowed RPA vendors to use the building cases. Over the forecast period, the cloud segment is predicted to experience the highest CAGR. The high growth rate is the result of increased adoption of cloud-based technologies. Cloud RPA provides an additional benefit in terms of ease of implementation, lower infrastructure costs, and lower installation and maintenance costs.
RPA adoption is expected to be higher in the BFSI market, as business activities such as data entry, compliance regulations and assembly and formulation are progressively automated, which leads to increased speed, efficiency and detailed insights.
Global Robotic Process Automation Market Segmentation
By Component
• Software
• Services
• Consulting
• Implementation
• Others
By Deployment Type
• On-premise
• Cloud
By Organization Size
• Large Enterprises
• Small & Medium Enterprises
By End User
• BFSI
• IT & Telecom
• Healthcare & Life Sciences
• Retail
• Manufacturing
• Others
By Geography
North America
• US
• Canada
• Mexico
• Rest of North America
Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA
Companies Profiled
• Verint Systems, Inc.
• NICE Ltd.
• Blue Prism Group PLC
• Pegasystems, Inc.
• Genpact Limited
• NTT Data Corporation (NTT Advanced Technology Corporation)
• Automation Anywhere, Inc.
• UiPath, Inc.
• Kofax, Inc. (Thoma Bravo LLC)
• IPsoft, Inc.
Structural Insights: https://www.kbvresearch.com/robotic-process-automation-market/
Contact
KBV Research
