Robotic Process Automation Market size to rise at 10% CAGR to 2024

Asia Pacific Robotic Process Automation Market is estimated to grow at a rapid pace over the forecast period.

Sellbyville, United States - July 22, 2019 /MarketersMedia/ —

According to Global Market Insights, Robotic Process Automation Market size is projected to surpass USD 5 billion by 2024. The surge in demand for business process automation through the use of software solutions, artificial intelligence, and robots is expected to serve as a major driver for market growth over the forecast timeframe. Benefits of the technology including the elimination of manual data entry errors, increased productivity, reduced costs, and increased revenues are estimated to stimulate the market growth. The growing use of cognitive technologies in conjunction with RPA will enhance the value proposition of the technology.

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RPA offers the means to automate costly and complex processes, resulting in accelerated productivity gains. However, RPA is a burgeoning market with technologies yet unknown to several potential buyers such as its commercial aspects, deployment models, solution features, and supporting frameworks. Other barriers to technology adoption include funding issues, lack of skills & knowledge, employment sensitivities, and concerns from the IT team. The adoption of RPA in the logistics industry is anticipated to offer growth opportunities for the robotic process automation market vendors.

Process-based tools have gained significant attention in the robotic process automation market due to the surge in demand for non-voice processes. It helps organizations to seamlessly manage the various interlinked processes, increasing efficiency, and gain operational benefits. The automation process enables organizations to improve business processes by analyzing the performance at every step and offering a strategic support.
Training services accounted for the majority of the robotic process automation market share in 2016 due to the need for skill development, awareness, and knowledge regarding the implementation of RPA processes. Growing access to various academies that offer training services on the RPA platform and assistance with aligning business requirements is contributing to the growth of the RPA market.

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The automated solution robotic process automation market segment can be attributed to as the major market by solution owing to the rise in demand for the technology across the BFSI sector. RPA enables to speed up business processes and improve the competence. The availability of flexible and scalable automated solution designed to meet the demands of large-scale business deployment for data management serves as a key enabler of RPA market growth.

The Asia Pacific regional robotic process automation market is estimated to grow at a rapid pace over the forecast period. Automation, which includes artificial intelligence and machine learning are the frontiers for growth in the region. Increasing sophisticated manufacturing practices in countries including China, Japan, and Taiwan also offer growth opportunities for the implementation of RPA processes. Additionally, the growth of the BPO sectors in countries including India and the Philippines stimulates the regional industry demand.

Browse key industry insights spread across 190 pages with 180 market data tables & 16 figures & charts from the report, “Robotic Process Automation Market Size By Tools (Model-Based Application Tools, Process-Based Application Tools), By Operation (Rules-Based, Knowledge-Based), By Service (Training, Professional), By Solution (Automated, Decision & Management Support, Interaction), By Organization Size (Large Enterprises, SMBs), By Application (BFSI, Healthcare, Retail, IT & Telecom, Manufacturing, Transportation), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Russia, China, India, Japan, Australia, Singapore, Malaysia, Brazil, Mexico, UAE, Saudi Arabia, South Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:

Table of Contents (ToC) of the report:

Chapter 5 Robotic Process Automation Market, By Tools
5.1 Global RPA market share by tools, 2016 & 2024
5.2 Model-based
5.2.1 Market estimates and forecast, 2013 - 2024
5.2.2 Market estimates and forecast, by region, 2013 - 2024
5.3 Process-based
5.3.1 Market estimates and forecast, 2013 - 2024
5.3.2 Market estimates and forecast, by region, 2013 – 2024

Chapter 6 RPA Market, By Organization Size
6.1 Global RPA market share by organization size, 2016 & 2024
6.2 SMBs
6.2.1 Market estimates and forecast, 2013 - 2024
6.2.2 Market estimates and forecast, by region, 2013 - 2024
6.3 Large enterprises
6.3.1 Market estimates and forecast, 2013 - 2024
6.3.2 Market estimates and forecast, by region, 2013 – 2024

Chapter 7 RPA Market, By Solution
7.1 Global RPA market share by solution, 2016 & 2024
7.2 Automated
7.2.1 Market estimates and forecast, 2013 - 2024
7.2.2. Market estimates and forecast, by region, 2013 - 2024
7.3 Decision & management support
7.3.1 Market estimates and forecast, 2013 - 2024
7.3.2 Market estimates and forecast, by region, 2013 – 2024
7.4 Interaction
7.4.1 Market estimates and forecast, 2013 - 2024
7.4.2 Market estimates and forecast, by region, 2013 – 2024

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About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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