The global robotic process automation market size is anticipated to reach USD 30.85 billion by 2030, registering a CAGR of 38.2% in the forecast period according to a new study by Grand View Research Inc. The increasing need for reduced operational costs is a significant driving factor for the market. Furthermore, the installation of the market with ease of business processes and transformation of robotic process automation with traditional business processes have boosted the market growth.
Continuous improvement and automation remain top of the strategic plan for an organization. Adopting some form of automation within enterprises is either on the roadmap or in a pilot stage. As a result, the implementation of RPA for ensuring cost reduction to build improved compliance, productivity, and maximize returns are becoming the top priorities for businesses. Moreover, focusing on improved outcomes through measurable indicators such as improved quality of work and time saving are positively impacting the dynamics of RPA within industries.
Additionally, RPA technology has proven to reduce the cost of a full-time offshore employee by half. RPA is creating a shift after labor arbitrage to reduce labor costs by 25 to 40 percent in business processes and IT environments. Moreover, the software robot replaces two to five full-time employees and the amount of work done by them, thereby increasing the efficiency of business processes.
The COVID-19 outbreak has sped up the demand for a workforce with digital skills across enterprises and opened up new directions for RPA companies to capture the market. Automation is anticipated to define the work after the pandemic as the organizations are witnessing organizational changes with work from home employees. The positive result of applying RPA during a recession influenced by the pandemic is anticipated to grow its demand post-pandemic and propel market growth.
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The service segment dominated the market in 2021 and is estimated to continue dominance with the increasing demand to achieve continuous high-volume tasks by outsourcing RPA.
The cloud deployment segment is expected to grow at a high CAGR during the forecast period. The segment is estimated to grow at a steady pace in the coming years, driven by increasing RPA adoption through the cloud.
Asia Pacific region is anticipated to rise at a healthy CAGR over the forecast period. The growth is attributed to the rising demand for automation in the Business Process Outsourcing (BPO) sector in the region.
Due to the coronavirus outbreak, top players participating in the market are concentrated on introducing solutions and services with the latest technologies. In June 2021, NTT Advanced Technology Corporation launched WinActor Talk Option, a chat service for business process automation and an extension of WinActor RPA. With this service, users are not required to be in front of the terminal and can respond from wherever they are. The service will further promote direct customer experience (entails employees interacting with customers face-to-face or by means of electronic communication) and operational efficiency for the COVID-19 era.
Grand View Research has segmented the global robotic process automation market based on type, deployment, organization, application, and region:
Robotic Process Automation Type Outlook (Revenue, USD Million, 2018 - 2030)
Robotic Process Automation Deployment Outlook (Revenue, USD Million, 2018 - 2030)
Robotic Process Automation Organization Outlook (Revenue, USD Million, 2018 - 2030)
Small & Medium Enterprises
Robotic Process Automation Application Outlook (Revenue, USD Million, 2018 - 2030)
Pharma & Healthcare
Retail & Consumer Goods
Information Technology (IT) & Telecom
Communication and Media & Education
Logistics and Energy & Utilities
Robotic Process Automation Regional Outlook (Revenue, USD Million, 2018 - 2030)
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa (MEA)
List of key players of Robotic Process Automation market
EdgeVerve Systems Ltd.
NTT Advanced Technology Corp.
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