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Robotic Process Automation (RPA) Market by Type, End-user and Geography - Forecast and Analysis 2023-2027

  • Published: Jan 2023
  • Pages: 178
  • SKU: IRTNTR43258
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The robotic process automation (RPA) market is estimated to grow at a CAGR of 35.83% between 2022 and 2027. The size of the market is forecast to increase by USD 16,628.29 million. The growth of the market depends on serval factors, including improved cost savings for businesses, better service delivery, and the non-availability of low-cost industrial labor.

This report extensively covers market segmentation by type (services and software), end-user (BFSI, IT/ITES, telecom, logistics, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the size of the Robotic Process Automation Market During the Forecast Period?

Robotic Process Automation Market Size

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Parent Market Analysis

The reports categorize the global robotic process automation (RPA) market as a part of the global application software market within the global IT software market. The parent global application software market covers companies that are engaged in developing and producing application and system software. It also includes companies offering database management software. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.

Robotic Process Automation Market: Key Drivers, Trends, Challenges, and Customer Landscape

The improved cost savings for businesses is notably driving the robotic process automation (RPA) market growth, although factors such as the subscription cost of robotic process automation software may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Robotic Process Automation Market Driver

One of the key factors driving the global robotic process automation software market growth is improved cost savings for businesses. Industries are focused on optimizing operational costs, which include the reduction of manual labor. The implementation of RPA is a one-time investment and ensures a high return on investments. Also, the implementation cost is much lower than the procurement of industrial workers with different skill sets. The flexibility of RPA to be easily integrated with different business applications allows industries to reduce the overhead cost related to manpower. 

With improved cost savings, industries can utilize finances in other productive industrial processes. In addition, industries can expand their working capabilities with more flexibility offered by the RPA. The different business processes can be managed at a much lower cost as industries can prevent expenses in procuring on-shore and off-shore manpower. The long-term benefits in terms of higher profits and cash flow generated enable businesses to achieve the desired objective of remaining competitive in their respective industrial verticals. Such factors will drive market growth in the forecast period.

Significant Robotic Process Automation Market Trend

Emerging trends in business process transformation are one of the key market trends. There are various business operations that are focused on and interlinked with other processes inside and outside the organization. For instance, service delivery automation has been one of the focus areas where automation or robotic process automation is playing a major role. Industries, such as banking and financial services, purely focus on timely deliverables and the quality of details with precision within an organization or to clients.

In addition, due to the manual data inputs and outputs, there are high chances of system-based errors or human-based errors. But, with the integration of robotic process automation, businesses can process a large amount of data, which enables fast data exchange with a high level of precision. Such factors will further support the market growth in the coming years.

Major Robotic Process Automation Market Challenge

One of the key challenges to the global robotic process automation software market growth is the subscription cost of robotic process automation software. The implementation of RPA software involves the price quoted by the third-party vendor for RPA. Therefore, the subscription of RPA involves scheduled software updates and maintenance and pricing of RPA based on the business model implementation.

Before entering a contract, several regulatory terms and conditions need to be settled between the end-user and software provider, which at times can increase the subscription cost or the cost incurred in design and development. In the case of conflict, the subscription negotiation will have to be renewed, or the business model must be changed. Both processes are time-intensive and would lead to downtime, ultimately affecting the business process and productivity, which may limit the market growth.

Key Robotic Process Automation Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Robotic Process Automation Market Share by Geography

Global Robotic Process Automation Market Customer Landscape

Who are the Major Robotic Process Automation Market Vendors?

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Accenture Plc - The company offers robotic process automation products for financial institutions such as solutions AI. The company sells and delivers the full range of its services and capabilities to clients across North America, Europe, APAC, Latin America, and MEA.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

  • Cognizant Technology Solutions Corp.
  • Deloitte Touche Tohmatsu Ltd.
  • Genpact Ltd.
  • Infosys Ltd.
  • International Business Machines Corp.
  • Kofax Inc.
  • Microsoft Corp.
  • NICE Ltd.
  • Nintex Global Ltd.
  • Nippon Telegraph and Telephone Corp.
  • OnviSource Inc.
  • Pegasystems Inc.
  • SS and C Technologies Holdings Inc.
  • UiPath Inc.
  • WorkFusion Inc.

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

What is the Fastest-Growing Segment in the Robotic Process Automation Market?

The market share growth of the services segment will be significant during the forecast period. The services segment of the global RPA market includes consulting, implementing, and training services. The intense rivalry among companies has compelled service providers to strengthen their consulting, training, and advising offerings. Continuous improvements in automation services that offer great scalability while minimizing costs have fueled the demand for RPA.

Robotic Process Automation Market Size

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The services segment was valued at USD 694.14 million in 2017 and continued to grow until 2021The introduction of RPA as a service supports the company in identifying the automation possibilities to be maximized and then establishing business cases by focusing on the correct vendor selection as a step toward pilot project deployment. For instance, NITCO Inc. provides RPA-managed services, which include IT Workload for support and maintenance. Hence, the abovementioned factors are expected to drive the growth of the services segment of the global RPA market during the forecast period.

Which are the Key Regions for the Robotic Process Automation Market?

Robotic Process Automation Market Share by Geography

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North America is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

The integration of a scalable digital workforce is allowing industries to reduce their business complexities. The RPA that can carry out all the repetitive and tedious processes allows the management to invest in more strategic operations that require human interference. North American industries are focused on improving cognitive automation throughout their business operations, where RPA has displayed viable integration and improvement in productivity. It is expected the region will witness constant growth in the adoption of RPA as industries are focused on transforming their business operations. The optimization, transformation, and transition in industries are the major factors for the constant rise in the adoption rate of RPA market during the forecast period. 

The RPA market in North America witnessed a temporary decline owing to the outbreak of COVID-19. However, the resumption of operations in production units of end-user industries boosted the demand for RPA for functions such as welding, soldering, and material handling. Thus, owing to such factors, the RPA market in North America is expected to witness growth during the forecast period.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by Type (Services and Software), End-user (BFSI, IT/ITES, Telecom, Logistics, and Others), and Geography (North America, Europe, APAC, South America, and Middle East and Africa).

  • Type Outlook (USD Million, 2017 - 2027)
    • Services
    • Software
  • End-user Outlook (USD Million, 2017 - 2027)
    • BFSI
    • IT/ITES
    • Telecom
    • Logistics
    • Others
  • Region Outlook (USD Million, 2017 - 2027)
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • South America
      • Brazil
      • Argentina
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa

Robotic Process Automation Market Scope

Report Coverage

Details

Page number

178

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 35.83%

Market growth 2023-2027

USD 16,628.29 million

Market structure

Fragmented

YoY growth 2022-2023(%)

33.97

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 44%

Key countries

US, China, Japan, UK, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Accenture Plc, Advanced Systems Concepts Inc., Amelia US LLC, Atos SE, Automation Anywhere Inc., Cognizant Technology Solutions Corp., Deloitte Touche Tohmatsu Ltd., Genpact Ltd., Infosys Ltd., International Business Machines Corp., Kofax Inc., Microsoft Corp., NICE Ltd., Nintex Global Ltd., Nippon Telegraph and Telephone Corp., OnviSource Inc., Pegasystems Inc., SS and C Technologies Holdings Inc., UiPath Inc., and WorkFusion Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

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What are the Key Data Covered in this Robotic Process Automation Market Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the RPA market between 2023 and 2027
  • Precise estimation of the robotic process automation market size and its contribution to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the industry across North America, Europe, APAC, South America, and Middle East and Africa
  • Thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of robotic process automation market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global robotic process automation market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global robotic process automation market 2017 - 2021 ($ million)
    • 4.2 Type Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 ($ million)
    • 4.3 End-user Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – End-user Segment 2017 - 2021 ($ million)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Type

    • 6.1 Market segments
      • Exhibit 30: Chart on Type - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on Type - Market share 2022-2027 (%)
    • 6.2 Comparison by Type
      • Exhibit 32: Chart on Comparison by Type
      • Exhibit 33: Data Table on Comparison by Type
    • 6.3 Services - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Services - Market size and forecast 2022-2027 ($ million)
      • Exhibit 35: Data Table on Services - Market size and forecast 2022-2027 ($ million)
      • Exhibit 36: Chart on Services - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Services - Year-over-year growth 2022-2027 (%)
    • 6.4 Software - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Software - Market size and forecast 2022-2027 ($ million)
      • Exhibit 39: Data Table on Software - Market size and forecast 2022-2027 ($ million)
      • Exhibit 40: Chart on Software - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Software - Year-over-year growth 2022-2027 (%)
    • 6.5 Market opportunity by Type
      • Exhibit 42: Market opportunity by Type ($ million)

    7 Market Segmentation by End-user

    • 7.1 Market segments
      • Exhibit 43: Chart on End-user - Market share 2022-2027 (%)
      • Exhibit 44: Data Table on End-user - Market share 2022-2027 (%)
    • 7.2 Comparison by End-user
      • Exhibit 45: Chart on Comparison by End-user
      • Exhibit 46: Data Table on Comparison by End-user
    • 7.3 BFSI - Market size and forecast 2022-2027
      • Exhibit 47: Chart on BFSI - Market size and forecast 2022-2027 ($ million)
      • Exhibit 48: Data Table on BFSI - Market size and forecast 2022-2027 ($ million)
      • Exhibit 49: Chart on BFSI - Year-over-year growth 2022-2027 (%)
      • Exhibit 50: Data Table on BFSI - Year-over-year growth 2022-2027 (%)
    • 7.4 IT/ITES - Market size and forecast 2022-2027
      • Exhibit 51: Chart on IT/ITES - Market size and forecast 2022-2027 ($ million)
      • Exhibit 52: Data Table on IT/ITES - Market size and forecast 2022-2027 ($ million)
      • Exhibit 53: Chart on IT/ITES - Year-over-year growth 2022-2027 (%)
      • Exhibit 54: Data Table on IT/ITES - Year-over-year growth 2022-2027 (%)
    • 7.5 Telecom - Market size and forecast 2022-2027
      • Exhibit 55: Chart on Telecom - Market size and forecast 2022-2027 ($ million)
      • Exhibit 56: Data Table on Telecom - Market size and forecast 2022-2027 ($ million)
      • Exhibit 57: Chart on Telecom - Year-over-year growth 2022-2027 (%)
      • Exhibit 58: Data Table on Telecom - Year-over-year growth 2022-2027 (%)
    • 7.6 Logistics - Market size and forecast 2022-2027
      • Exhibit 59: Chart on Logistics - Market size and forecast 2022-2027 ($ million)
      • Exhibit 60: Data Table on Logistics - Market size and forecast 2022-2027 ($ million)
      • Exhibit 61: Chart on Logistics - Year-over-year growth 2022-2027 (%)
      • Exhibit 62: Data Table on Logistics - Year-over-year growth 2022-2027 (%)
    • 7.7 Others - Market size and forecast 2022-2027
      • Exhibit 63: Chart on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 64: Data Table on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 65: Chart on Others - Year-over-year growth 2022-2027 (%)
      • Exhibit 66: Data Table on Others - Year-over-year growth 2022-2027 (%)
    • 7.8 Market opportunity by End-user
      • Exhibit 67: Market opportunity by End-user ($ million)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 69: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 70: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 71: Chart on Geographic comparison
      • Exhibit 72: Data Table on Geographic comparison
    • 9.3 North America - Market size and forecast 2022-2027
      • Exhibit 73: Chart on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 74: Data Table on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 75: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 76: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.4 Europe - Market size and forecast 2022-2027
      • Exhibit 77: Chart on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 78: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 79: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 80: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.5 APAC - Market size and forecast 2022-2027
      • Exhibit 81: Chart on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 82: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 83: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 84: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.6 South America - Market size and forecast 2022-2027
      • Exhibit 85: Chart on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 86: Data Table on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 87: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 88: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 89: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 90: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 91: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 92: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.8 US - Market size and forecast 2022-2027
      • Exhibit 93: Chart on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 94: Data Table on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 95: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 96: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.9 UK - Market size and forecast 2022-2027
      • Exhibit 97: Chart on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 98: Data Table on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 99: Chart on UK - Year-over-year growth 2022-2027 (%)
      • Exhibit 100: Data Table on UK - Year-over-year growth 2022-2027 (%)
    • 9.10 China - Market size and forecast 2022-2027
      • Exhibit 101: Chart on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 102: Data Table on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 103: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 104: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.11 Japan - Market size and forecast 2022-2027
      • Exhibit 105: Chart on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 106: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 107: Chart on Japan - Year-over-year growth 2022-2027 (%)
      • Exhibit 108: Data Table on Japan - Year-over-year growth 2022-2027 (%)
    • 9.12 Germany - Market size and forecast 2022-2027
      • Exhibit 109: Chart on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 110: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 111: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 112: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 113: Market opportunity by geography ($ million)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 114: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 115: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 116: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 117: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 118: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 119: Matrix on vendor position and classification
            • 12.3 Accenture Plc
              • Exhibit 120: Accenture Plc - Overview
              • Exhibit 121: Accenture Plc - Business segments
              • Exhibit 122: Accenture Plc - Key news
              • Exhibit 123: Accenture Plc - Key offerings
              • Exhibit 124: Accenture Plc - Segment focus
            • 12.4 Advanced Systems Concepts Inc.
              • Exhibit 125: Advanced Systems Concepts Inc. - Overview
              • Exhibit 126: Advanced Systems Concepts Inc. - Product / Service
              • Exhibit 127: Advanced Systems Concepts Inc. - Key offerings
            • 12.5 Amelia US LLC
              • Exhibit 128: Amelia US LLC - Overview
              • Exhibit 129: Amelia US LLC - Product / Service
              • Exhibit 130: Amelia US LLC - Key offerings
            • 12.6 Atos SE
              • Exhibit 131: Atos SE - Overview
              • Exhibit 132: Atos SE - Business segments
              • Exhibit 133: Atos SE - Key news
              • Exhibit 134: Atos SE - Key offerings
              • Exhibit 135: Atos SE - Segment focus
            • 12.7 Automation Anywhere Inc.
              • Exhibit 136: Automation Anywhere Inc. - Overview
              • Exhibit 137: Automation Anywhere Inc. - Product / Service
              • Exhibit 138: Automation Anywhere Inc. - Key offerings
            • 12.8 Cognizant Technology Solutions Corp.
              • Exhibit 139: Cognizant Technology Solutions Corp. - Overview
              • Exhibit 140: Cognizant Technology Solutions Corp. - Business segments
              • Exhibit 141: Cognizant Technology Solutions Corp. - Key news
              • Exhibit 142: Cognizant Technology Solutions Corp. - Key offerings
              • Exhibit 143: Cognizant Technology Solutions Corp. - Segment focus
            • 12.9 Deloitte Touche Tohmatsu Ltd.
              • Exhibit 144: Deloitte Touche Tohmatsu Ltd. - Overview
              • Exhibit 145: Deloitte Touche Tohmatsu Ltd. - Business segments
              • Exhibit 146: Deloitte Touche Tohmatsu Ltd. - Key offerings
              • Exhibit 147: Deloitte Touche Tohmatsu Ltd. - Segment focus
            • 12.10 Genpact Ltd.
              • Exhibit 148: Genpact Ltd. - Overview
              • Exhibit 149: Genpact Ltd. - Business segments
              • Exhibit 150: Genpact Ltd. - Key news
              • Exhibit 151: Genpact Ltd. - Key offerings
              • Exhibit 152: Genpact Ltd. - Segment focus
            • 12.11 Infosys Ltd.
              • Exhibit 153: Infosys Ltd. - Overview
              • Exhibit 154: Infosys Ltd. - Business segments
              • Exhibit 155: Infosys Ltd. - Key news
              • Exhibit 156: Infosys Ltd. - Key offerings
              • Exhibit 157: Infosys Ltd. - Segment focus
            • 12.12 International Business Machines Corp.
              • Exhibit 158: International Business Machines Corp. - Overview
              • Exhibit 159: International Business Machines Corp. - Business segments
              • Exhibit 160: International Business Machines Corp. - Key news
              • Exhibit 161: International Business Machines Corp. - Key offerings
              • Exhibit 162: International Business Machines Corp. - Segment focus
            • 12.13 NICE Ltd.
              • Exhibit 163: NICE Ltd. - Overview
              • Exhibit 164: NICE Ltd. - Business segments
              • Exhibit 165: NICE Ltd. - Key news
              • Exhibit 166: NICE Ltd. - Key offerings
              • Exhibit 167: NICE Ltd. - Segment focus
            • 12.14 Nintex Global Ltd.
              • Exhibit 168: Nintex Global Ltd. - Overview
              • Exhibit 169: Nintex Global Ltd. - Product / Service
              • Exhibit 170: Nintex Global Ltd. - Key offerings
            • 12.15 Pegasystems Inc.
              • Exhibit 171: Pegasystems Inc. - Overview
              • Exhibit 172: Pegasystems Inc. - Product / Service
              • Exhibit 173: Pegasystems Inc. - Key news
              • Exhibit 174: Pegasystems Inc. - Key offerings
            • 12.16 SS and C Technologies Holdings Inc.
              • Exhibit 175: SS and C Technologies Holdings Inc. - Overview
              • Exhibit 176: SS and C Technologies Holdings Inc. - Product / Service
              • Exhibit 177: SS and C Technologies Holdings Inc. - Key news
              • Exhibit 178: SS and C Technologies Holdings Inc. - Key offerings
            • 12.17 UiPath Inc.
              • Exhibit 179: UiPath Inc. - Overview
              • Exhibit 180: UiPath Inc. - Business segments
              • Exhibit 181: UiPath Inc. - Key offerings
              • Exhibit 182: UiPath Inc. - Segment focus

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 183: Inclusions checklist
                • Exhibit 184: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 185: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 186: Research methodology
                • Exhibit 187: Validation techniques employed for market sizing
                • Exhibit 188: Information sources
              • 13.5 List of abbreviations
                • Exhibit 189: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Robotic Process Automation market growth will increase by $16628.29 million during 2023-2027.
              The robotic process automation market is expected to grow at a CAGR of 35.83% during 2023-2027.
              Technavio has segmented the robotic process automation market by type (Services, Software, Telecom, Logistics, and Others) ,end-user (BFSI, IT/ITES, Telecom, Logistics, and Others) , and geography (North America, Europe, APAC, South America, and Middle East and Africa).
              Accenture Plc, Advanced Systems Concepts Inc., Amelia US LLC, Atos SE, Automation Anywhere Inc., Cognizant Technology Solutions Corp., Deloitte Touche Tohmatsu Ltd., Genpact Ltd., Infosys Ltd., International Business Machines Corp., Kofax Inc., Microsoft Corp., NICE Ltd., Nintex Global Ltd., Nippon Telegraph and Telephone Corp., OnviSource Inc., Pegasystems Inc., SS and C Technologies Holdings Inc., UiPath Inc., WorkFusion Inc. are a few of the key vendors in the robotic process automation market.
              North America will register the highest growth rate of 43.69% among the other regions. Therefore, the robotic process automation market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the robotic process automation market growth are:
              • Improved cost savings for businesses
              • Emerging trends in business process transformation
              • Presently, businesses are focused on more client-centric processes rather than being fixated only on productivity and generating profits. Therefore, there have been changes witnessed in the way businesses operate. The primary focus of industries is to reduce human error, which is mostly due to judgment-based decisions and approaches. To phase out such errors from business operations, industries are now adopting RPA solutions. Few features identified that are now a trend in business operations as industries are more vigilant and focused on quality. A few of the trends are: Increasing the depth and quality of business operations
              • There are various business operations that are focused on and interlinked with other processes inside and outside the organization. For instance, service delivery automation has been one of the focus areas where automation or RPA plays a major role. Industries, such as banking and financial services, purely focus on timely deliverables and the quality of details with precision within an organization or to clients. This industry deals with a high level of data transfer and data analytics that are based on facts and not on predictions or judgments. Therefore, the integration of data receipt and the transfer happens at a rapid pace, which covers a huge number of clients and several other business hierarchies. Such operations need high data precision and fast data communication, which is challenging when reliant on manual operations and manual data inputs. Due to the intensive data collection from previous years to the present year, including the future benefits generated through the service, the business process becomes highly time-intensive with increased cycle time. Also, due to the manual data inputs and outputs, there are high chances of system-based errors or human-based errors. However, with the integration of RPA, businesses can process a large amount of data, which enables fast data exchange with a high level of precision. Flexible deployment and customization of RPA enable business processes
              • RPA is software that can be deployed for various business operations that include modeling, simulation, execution, monitoring, and optimization. This software is compatible to work in accordance with different applications used by the organization. This feature makes RPA highly flexible and compatible with other business systems. In addition, RPA can be customized on the basis of the business process requirement. Therefore, with RPA, organizations are able to expand their business areas and make profits with increased productivity. Improving field services and real-time client interaction
              • Improved field services and client interaction is one of the major factors focused on by industries such as logistics and manufacturing. Client satisfaction is the primary focus of industries as deliverables are closely associated with time, quality, and location of delivery. Therefore, it is necessary for these industries to implement technology that allows real-time data integration and exchange for seamless data information exchange. As manual data inputs are more exposed to human error and are time-intensive, it affects the service delivery in transit. Most of the operations carried out by these industries are field operations, including work orders, scheduling, and dispatching, in accordance with the work policy, which is the major lookout for industries to maintain quality. The integration of RPA has allowed these industries to work with real-time data that provides live support and updates to clients. Handling business exceptions more tactfully
              The robotic process automation market vendors should focus on grabbing business opportunities from the services segment as it accounted for the largest market share in the base year.
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