Global Robotic Process Automation Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2023

Industry : ICT Date : June 8th, 2018
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The global Robotic Process Automation market is expected to grow significantly from USD 283.0 million in 2016, to USD 2821.0 million in 2023, at a CAGR of 33.3% from 2017 to 2023. The growth of the robotic process automation across the globe is primarily driven by increasing adopting of RPA technology by various enterprises for enhancing productivity, quality analysis, low cost, reduced time cycle and accuracy bringing high profitability margins to the businesses. The years used for the assessment are as follows;

  • Historical year   : 2013, 2014, 2015
  • Base year            : 2016
  • Forecast period : 2017 – 2023

RESEARCH METHODOLOGY

The research and analysis is based on data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are;

  • Obtaining historical data of the market based on news, articles, publications, annual reports, white papers, and other secondary sources.
  • Interacting with key opinion leaders of the market and developing data points based on interaction with them.
  • Study of past trends in the market and their year on year Impact on the market size and share.
  • Analyzing the collected data points.
  • Bridging the data points to calculate the total Robotic Process Automation market and it various segments.
  • Anticipating potential risks.
  • Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the Robotic Process Automation market.
  • Finalizing the overall size and share for the global Robotic Process Automation market.

OBJECTIVES:

  • To classify the global Robotic Process Automation market into segments by technology, material, bit size, connectivity, vehicles type, electrical vehicles, application, and region and analyze their growth prospects individually.
  • To analyze market trends, opportunities, drivers and restraints associated with the Robotic Process Automation market.
  • Profiling key companies operating in the global Robotic Process Automation market.
  • To study market response with respect to the mergers and acquisitions in the industry.

MARKET SCOPE

The research scope for global Robotic Process Automation market is as follows:

By Solution

  • Interaction Solution
  • Automated Solution
    • Business process
    • Industry Specific
    • Infrastructure Automation
    • Others (Application Development and Testing)
  • Decision support and management solution

By Process

  • Rule based
  • Knowledge based 

By Type

  • Software tools
  • Services 

By Application Services

  • Banking Financial Services, and Insurance
  • Healthcare and life science
  • IT & Telecom
  • Transaction Intelligence
  • Consumer Services
  • Others 

By Region 

  • North America
  • Europe
  • Asia-Pacific
  • Rest of World (RoW)

The global robotic process automation market was valued at USD 283.0 million in 2016, is expected to reach USD 2,821.0 million by 2023, growing at a CAGR of 33.3 % from 2017 to 2023. The key factor driving the growth of the robotic process automation markets include Growing demand for automating the business processes, convergence of robotic process automation with traditional business process industries and implementation of RPA in various applications of different industries. Moreover, Surge in demand to reduce manual interference in simplified and time-consuming business processes is expected to increase the RPA technology adoption rate.

Growing demand for automating the business processes is propelling the demand for the RPA market.

Robotic process automation uses smart software to perform high-volume, rule based repeatable tasks which otherwise performed by humans and takes larger length of time. RPA combines automation with the adaptability and awareness of artificial intelligence thus ensuring quality and cost effectiveness.

Banking financial services and insurance (BFSI) application services is expected to grow at highest rate. The BFSI sector is in continuous effort to reduce the operation cost and increasing profit margins increasing the adoption rate of RPA technology. The implementation of RPA and AI on the BFSI workspace, it is predicted that there will not only be an output of new jobs but more fulfilling existing jobs

Geographically, North America is the largest market adopting RPA technology in the small and large scale businesses. The growth in the region is primarily due to presence of large players and continuous development of the RPA technology over the past few years. The adoption of RPA technology in Asia-Pacific region is set to register high CAGR over the forecast period. The increasing adoption and spending in healthcare, automotive and retail services drives the demand for the implementation of RPA in the region.

Some of the leading players in global robotic process automation market include Pegasystems Inc., Blue Prism PLC, Verint System Inc., Xerox Corporation, IBM, Arago Us, Inc., Accenture, Thoughtonomy Ltd., Ipsoft, Inc., Softomotive Ltd. among others.

TABLE OF CONTENTS

CHAPTER 1. Market Scope and Methodology

1.1. Market Definition

1.2. Market Segmentation

1.2.1. Market breakdown, By Solution

1.2.2. Market breakdown, By Process

1.2.3. Market breakdown, By Type

1.2.4. Market breakdown, By Application Services

1.2.5. Market breakdown, By Region

1.3. Research Methodology

1.4. Executive Summary

CHAPTER 2. Market Outlook

2.1. Introduction

2.2. Value Chain Analysis

2.3. Landscape

2.3.1. Market Share

2.3.2. Opportunities

    2.3.2.1. Growing usage of software robots transaction in IT and logistics application

   2.3.2.2. Opportunity in automating back-office origination, servicing processes and financial service industry

        2.3.3. Trends

   2.3.3.1. Implementation of artificial intelligence technologies in various enterprise application

   2.3.3.2. Businesses automation for reduced cut costs, improve productivity and better customer experiences

       2.3.4. Growth Drivers

  2.3.4.1. Moving of concept projects into large scale and live operations

  2.3.4.2. Growing demand for automating business processes for easy and efficient operations

  2.3.4.3. Growing usage of software robots transaction in IT application

       2.3.5. Impact Analysis of Drivers on Future Forecast of the Market

       2.3.6. Restraints of the Market

    2.3.6.1. Lack of knowledge and necessary skills set

        2.3.7. Impact Analysis of Restraints on Future Forecast of the Market

CHAPTER 3. COMPETITIVE LANDSCAPE

3.1. Player Positioning Analysis, 2016

3.2. Key Strategies Adopted by Leading Players

CHAPTER 4. Market Entry Strategy

4.1. Regulatory Affairs

4.2. Competitive Analysis

4.3. Investment Analysis

4.4. Recommendations

CHAPTER 5. Global Robotic Process Automation Market Size and Forecast (2013 – 2023)

5.1. Global Robotic Process Automation Market, By Solution

5.1.1. Interaction Solution

5.1.2. Automated Solution

  5.1.2.1. Business process

  5.1.2.2. Industry Specific

  5.1.2.3. Infrastructure Automation

  5.1.2.4. Others (Application Development and Testing)

       5.1.3. Decision support and management solution

5.2. Global Robotic Process Automation Market, By Process

5.2.1. Rule based

5.2.2. Knowledge based

5.3. Global Robotic Process Automation Market, By Type

5.3.1. Software Tools

5.3.2. Services

5.4. Global Robotic Process Automation Market, By Application Services

5.4.1. Banking Financial Services, and Insurance

5.4.2. Healthcare and life science

5.4.3. IT & Telecom

5.4.4. Transaction Intelligence

5.4.5. Consumer Services

5.4.6. Others

5.5. Global Robotic Process Automation Market, By Region

5.5.1. North America

5.5.2. Europe

5.5.3. Asia-Pacific

5.5.4. RoW

CHAPTER 6. Global Robotic Process Automation Market, By Region

6.1. North America Robotic Process Automation Market

6.1.1. North America Robotic Process Automation Market, By Solution (USD Million)

6.1.2. North America Robotic Process Automation Market, By Process (USD Million)

6.1.3. North America Robotic Process Automation Market, By Type (USD Million)

6.1.4. North America Robotic Process Automation Market, By Application Services (USD Million)

6.1.5. North America Agriculture Robots Market, By Country

                  6.1.5.1. The U.S.

6.1.5.1.1. U.S. Robotic Process Automation Market Size (USD Million)

                6.1.5.2. Canada

                              6.1.5.2.1. Canada Robotic Process Automation Market Size (USD Million)

              6.1.5.3. Mexico

    6.1.5.3.1. Mexico Robotic Process Automation Market Size (USD Million)

6.2. Europe Robotic Process Automation Market

6.2.1. Europe Robotic Process Automation Market, By Solution (USD Million)

6.2.2. Europe Robotic Process Automation Market, By Process (USD Million)

6.2.3. Europe Robotic Process Automation Market, By Type (USD Million)

6.2.4. Europe Robotic Process Automation Market, By Application Services (USD Million)

6.2.5. Europe Agriculture Robots Market, By Country

    6.2.5.1. Germany

   6.2.5.1.1. Germany Robotic Process Automation Market Size (USD Million)

                   6.2.5.2. U.K.

   6.2.5.2.1. U.K. Robotic Process Automation Market Size (USD Million)

                   6.2.5.3. France

  6.2.5.3.1. France Robotic Process Automation Market Size (USD Million)

                  6.2.5.4. Rest of Europe

 6.2.5.4.1. Rest of Europe Robotic Process Automation Market Size (USD Million)

6.3. Asia-Pacific Robotic Process Automation Market

6.3.1. Asia-Pacific Robotic Process Automation Market, By Solution (USD Million)

6.3.2. Asia-Pacific Robotic Process Automation Market, By Process (USD Million)

6.3.3. Asia-Pacific Robotic Process Automation Market, By Type (USD Million)

6.3.4. Asia-Pacific Robotic Process Automation Market, By Application Services (USD Million)

6.3.5. Asia-Pacific Agriculture Robots Market, By Country

  6.3.5.1. China

6.3.5.1.1. China Robotic Process Automation Market Size (USD Million)

                6.3.5.2. Japan

       6.3.5.2.1. Japan Robotic Process Automation Market Size (USD Million)

               6.3.5.3. India

     6.3.5.3.1. India Robotic Process Automation Market Size (USD Million)

             6.3.5.4. Rest of APAC

    6.3.5.4.1. Rest of APAC Robotic Process Automation Market Size (USD Million)

6.4. Rest of World Robotic Process Automation Market

6.4.1. Rest of World Robotic Process Automation Market, By Solution (USD Million)

6.4.2. Rest of World Robotic Process Automation Market, By Process (USD Million)

6.4.3. Rest of World Robotic Process Automation Market, By Type (USD Million)

6.4.4. Rest of World Robotic Process Automation Market, By Application Services (USD Million)

6.4.5. Rest of World Agriculture Robots Market, By Country

           6.4.5.1. Middle East

                6.4.5.1.1. Middle East Robotic Process Automation Market Size (USD Million)

  6.4.5.2. Africa

6.4.5.2.1. Africa Robotic Process Automation Market Size (USD Million)

         6.4.5.3. South America

6.4.5.3.1. South America Robotic Process Automation Market Size (USD Million)

CHAPTER 7. COMPETITIVE ANALYSIS

7.1. Porters Five Forces Analysis

7.1.1. Bargaining Power of Buyers

7.1.2. Bargaining Power of Suppliers

7.1.3. Threat of New Entrants

7.1.4. Intensity of Rivalry

7.1.5. Threat of Substitutes

CHAPTER 8. Key Players and Strategic Developments

8.1. Pegasystems Inc.

8.1.1. Business Overview

8.1.2. Product and Service Offering

8.1.3. Financial Overview

8.1.4. Strategic Developments

8.2. Blue Prism PLC

8.2.1. Business Overview

8.2.2. Product and Service Offering

8.2.3. Financial Overview

8.2.4. Strategic Developments

8.3. Verint System Inc.

8.3.1. Business Overview

8.3.2. Product and Service Offering

8.3.3. Financial Overview

8.3.4. Strategic Developments

8.4. Xerox Corporation

8.4.1. Business Overview

8.4.2. Product and Service Offering

8.4.3. Financial Overview

8.4.4. Strategic Developments

8.5. IBM

8.5.1. Business Overview

8.5.2. Product and Service Offering

8.5.3. Financial Overview

8.5.4. Strategic Developments

8.6. Arago Us, Inc.

8.6.1. Business Overview

8.6.2. Product and Service Offering

8.6.3. Financial Overview

8.6.4. Strategic Developments

8.7. Accenture

8.7.1. Business Overview

8.7.2. Product and Service Offering

8.7.3. Financial Overview

8.7.4. Strategic Developments

8.8. Thoughtonomy Ltd.

8.8.1. Business Overview

8.8.2. Product and Service Offering

8.8.3. Financial Overview

8.8.4. Strategic Developments

8.9. Ipsoft, Inc.

8.9.1. Business Overview

8.9.2. Product and Service Offering

8.9.3. Financial Overview

8.9.4. Strategic Developments

8.10. Softomotive Ltd.

8.10.1. Business Overview

8.10.2. Product and Service Offering

8.10.3. Financial Overview

8.10.4. Strategic Developments

CHAPTER 9. Research Approach

9.1. Initial Data Search

9.2. Secondary Research

9.3. Primary Research

9.4. Scope and Assumptions

Global Robotic Process Automation Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2023