Robotic Process Automation Market Size, Share & Trends Analysis Report By Type (Software, Services), By Deployment (Cloud, On-premise), By Organization (Large, Small & Medium Enterprises), By Operations, By Application, By Region, And Segment Forecasts, 2024 - 2030

Research Methodology

A three-pronged approach was followed for deducing the robotic process automation market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for robotic process automation market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of robotic process automation market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Robotic Process Automation Market Categorization:

The robotic process automation market was categorized into five segments, namely type (Software, Service), deployment (Cloud, On-premise), organization (Large Enterprises, Small & Medium Enterprises), application (BFSI, Pharma & Healthcare, Retail & Consumer Goods, Information Technology & Telecom, Communication and Media & Education, Manufacturing, Logistics and Energy & Utilities), and region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).

Segment Market Methodology:

The robotic process automation market was segmented into type, deployment, organization, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The robotic process automation market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into fifteen countries, namely, the U.S.; Canada; Mexico; the UK; Germany; France; Spain; Italy; China; India; Japan; ANZ; Singapore; ASEAN; Brazil.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Robotic process automation market companies & financials:

The robotic process automation market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• UiPath - UiPath is a U.S.-based company that develops robotic process automation (RPA) and application integration solutions and provides them to BFSI, manufacturing, telecom, healthcare, BPO, and shared services organizations. With the introduction of RPA platform, the company helps its clients ensure compliance, boost productivity, and enhance the customer experience across the front- and back-office operations. Moreover, the company offers solutions such as accounts payable automation, claims processing automation, intelligent process automation, BPO automation, and call center automation. Its products automate web-based and internal applications to provide ideal solutions for SAP, BPO automation, and Citrix.

• Automation Anywhere Inc. - Automation Anywhere Inc. designs and develops business process automation solutions. The company was initially known as Tethys Solutions LLC. Its product portfolio includes automation anywhere enterprise, IQ Bot, Bot Insight, Bot Store, Mobile App, and BotFarm. The company’s Automation 360 is the only cloud-native intelligent automation platform that enables companies to transcend front- and back-offices silos and systems. In 2021, the company collaborated with Google Cloud to accelerate intelligent automation adoption in enterprises. Automation Anywhere has an extensive customer base, including Dell, General Motors, LinkedIn, Tesco, Zodiac Aerospace, Whirlpool Corporation, and Henkel. The company has developed strategic partnerships with organizations such as Deloitte, Larsen & Turbo, PWC, Cognizant, and Wipro. It has marked its geographic presence in regions such as North America, Asia Pacific, Europe, and Latin America.

• NICE - NICE is a leading cloud customer experience platform provider. The company's product portfolio includes CXone; Process Automation; Analytics and Personalization; Workforce Optimization; Artificial intelligence (AI) & chatbots; Voice as a Service; and Master Robotic Process Automation (RPA). Master robotic process automation provides exceptional customer experience with a combination of robots and human intelligence. Its innovative AI-infused feature provides the best process sequence for automation deployment. The other products include CXone, a cloud contact center software and a customer experience platform. The company provides a digital-first, hyper-personalized, and adaptive environment to consumers and employees. Moreover, the company offers its solutions to industries such as healthcare, financial services, government, education, and business services. The company has a history of customer service leadership in the Contact Center as a Service (CCaaS) market. In 2021, the company was recognized as a Gartner Magic Quadrant leader for CCaaS for the seventh consecutive year. The company has marked its presence in North America, Asia Pacific, Europe, Latin America, and Middle East & Africa.

• Blue Prism - Blue Prism is a European company that provides robotic automation software. The software offered by the company enables agile and costeffective business operations through rapid automation of rule-based, manual, and back-office administrative processes. The software improves accuracy and reduces the cost of implementation by creating a virtual workforce. The operational teams to rapidly deploy and build process automation by leveraging the presentation layer of existing enterprise applications build the virtual workforce. The company’s product portfolio includes automation platform, blue prism cloud platform, ERP accelerator, process intelligence, automation lifecycle management, and robotic operating model. These products are used in various industries and sectors, such as BFSI, healthcare, manufacturing, energy & utilities, transportation & logistics, and retail. The company’s technology helps organizations such as The Co-operative Banking Group, RWE npower, Shop Direct, NHS Fidelity Investments, and O2 respond to business changes through agile back-office operations. Blue Prism has more than 2,000 customers, including Fortune 500 and public sector organizations. The company has its offices in regions such as North America, Asia Pacific, Europe, and Middle East.

• Pegasystems - Pegasystems is a leading software company that develops software for customer relationship management, robotic process automation, and business process management. The company’s core product is Pega Platform, which is a part of its Pega Infinity suite of applications for customer engagement and robotic process automation. The features of Pega Platform include artificial intelligence, customer relationship management, business rules, and case management. These features help organizations build and deliver end-to-end digital experiences and drive better customer experiences. The company states that its applications are certified to work on Google Cloud and other public cloud platforms such as Microsoft Azure and AWS. In 2018, the company introduced platform additions that used AI, customer interfaces, robotic automation, and a blockchain kit for Ethereum. The company’s low-code development platform was highlighted in the 2018 Wall Street Journal article. The company offers its services to industries such as BFSI, healthcare, government, manufacturing, and media and communications. It has marked its presence in regions such as North America, Asia Pacific, Europe, Latin America, and Middle East.

• Kofax Inc. - Kofax Inc. is a leading intelligent automation software provider that delivers business process management software and various related professional and maintenance services. The company provides intelligent solutions that can transform information-intensive and complex business processes and yield high customer engagement. In addition, the company has over 20,000 customers from various business areas, such as government, financial services, insurance, supply chain, healthcare, and business process outsourcing. It has a strong sales network operating through over 650 indirect sales channel partners spread across 60 countries worldwide. The company has a broad customer base that includes prominent companies such as American Express, Citi Bank, J.P. Morgan, VISA, FUJITSU, and Orange Business Services. The company’s intelligent automation platform supports digital workflows that include Total Agility, Robotic Process Automation (RPA), and SignDoc (e-signature software that verifies electronic signatures for document workflows). In June 2021, Kofax Inc. acquired PSIGEN Software, Inc., a provider of document capture, content management, and workflow automation software and solutions. The company operates in 30 countries across the globe, including Australia, Austria, Belgium, Germany, India, and Japan.

• NTT Advanced Technology Corporation - NTT Advanced Technology Corporation is a leading provider of computer services. It operates computer infrastructure system business, solution system, product sales system, next-generation networks verification, and network security services. In 2017, the company established Business Promotion Office and AI and Robotics Business Promotion Office. The company has a broad product portfolio, which includes RPA tools, material analysis, multimedia products, analysis and sensing components, optical network equipment, and network consultation. In 2017, the company developed WinActor, a PC-client type RPA that can easily automate data input across multiple systems. The company operates in system integration, network integration, related software and service developments, cloud & Internet of Things (IoT), and related products. It also provides network solutions such as software development and verification of various communication infrastructures.

• EdgeVerve Systems Limited - EdgeVerve Systems Limited is a subsidiary owned by Infosys. It provides automation activities and Artificial Intelligence (AI) in digital transformation. The company also offers business applications and platforms for digital banking and serves customers in India. Its product portfolio across AI (XtractEdge), automation (Assist Edge), and supply chain (TradeEdge) supports businesses to develop better network with stakeholders, source constant innovation, and boost growth in the digital world. The company offers its solutions to industries such as BFSI, retail, consumer & packaged goods, healthcare, manufacturing, and IT & telecom. In 2021, the company won three awards in the AI category, enterprise innovation category, and cloud computing/SaaS innovation category. Recently, the tech giant Intel has collaborated with EdgeVerve System Limited to optimize XtractEdge platform performance on the Intel Xenon scalable processors and intel optimized libraries. With this optimization, EdgeVerve System Limited can offer customers a higher throughput and productivity improvement to process larger volumes of documents faster and support more users depending on the business requirement.

• FPT Software - FPT Software is a global leading technology and IT service provider with over 18,000 employees in 26 countries. The company offers smart factory, digital platforms, Robotic Process Automation (RPA), Artificial Intelligence (AI), Internet of Things (IoT), business application, enterprise mobility, and application services. The company has served over 700 customers across the globe across industries such as aerospace & aviation, automotive, BFSI, and logistics and transportation. It has its own integrated suite called akaSuite, which includes akaBot (RPA), akaTrans (AI-powered Translation Solutions), akaDev (Low-code platform), akaLink (Employee Engagement Platform), akaNOX (Comprehensive Migration Data Toolset), and akaAT (All-in-one Automation Test Solution).

• OnviSource, Inc. - OnviSouce, Inc. is an intelligent automation enterprise consisting of Artificial Intelligence (AI), analytics, and robotic process automation. It serves these solutions to companies of all sizes to help improve their workforce performance, optimize their contact center, and increase customer satisfaction. The company’s product portfolio includes multiengine AI, end-to-end customer management, Robotic Process Automation (RPA), intelligent virtual agent, intelligent call routing, and workforce optimization. Its robotic software solutions automate labor-intensive transactions while eliminating human errors and reducing costs. The company also has a well-established and active customer base across a broad range of industries, such as government, BFSI, automotive, IT & telecom, retail, real estate, contact centers, and healthcare. The company emphasizes customer satisfaction to offer improved customer services. It has its operation center in Oklahoma, U.S.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Robotic Process Automation Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2020, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Robotic Process Automation Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.