Global Robotic Process Automation RPA Software Market - Industry Trends and Forecast to 2029

Global Robotic Process Automation (RPA) Software Market, By Product Type (Software Services and Tools) Service (Consulting, Implementing and Training), Deployment (Cloud and On-Premise), Organization (Large Enterprise, Small and Medium Enterprise), Application (BFSI, Retail, Consumer Goods, Pharma, Healthcare, Information Technology and Telecom, Communication Media and Education, Manufacturing, Logistics, Banking, Financial Services, Insurance, Travel, Hospitality, Transportation, Government, Utility, Academics and Others), Process (Automated Solution Decision Support Management Solution and Interaction Solution), Operation (Rule Based and Knowledge Based) - Industry Trends and Forecast to 2029.

Market Analysis and Size

Robotic process automation (RPA) software assist in processing a triggering responses, communicating with other digital systems transaction, and manipulating data. The implementation of this software offer benefits such as lower operational risk, reduced cost, better customer experience, and improved efficiency.

Global Robotic Process Automation (RPA) Software Market was valued at USD 11.65 billion in 2021 and is expected to reach USD 100.37 billion by 2029, registering a CAGR of 25.50% during the forecast period of 2022-2029. The “On-Premise” accounts for the largest deployment segment in the respective market owing to the emergence of large-scale enterprises. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Market Definition

Robotics process automation software market is an application of the technology which configures computer software to capture and interpret various applications for processing transactions to excess data and communicate with other digital systems.

Report Scope and Market Segmentation

Robotic Process Automation (RPA) Software Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Shift in Company Business Operations

The rise in shift in company business operations because of the pandemic-induced work-from-home is one of the major factors driving the growth of robotic process automation (RPA) software market. Also, the integration of cognitive technologies along with change in business processes across enterprises has a positive impact on the market.

• Need for Automating Redundant Tasks

The increase in need for automating redundant tasks accelerate the market growth. Automation induces execution, arrangement of the large volume of data in less time and quick implementation compared to mechanical procedure and reduces overhead expense for enterprises.

• Adoption of Advanced technologies

The rise in integration of robotic process automation (RPA) with machine learning to help in advancing the capabilities of software bots further influence the market. Artificial Intelligence (AI) in RPA offers enhanced business insights, and improved data integrity.

Opportunities

Furthermore, integration of new technologies with robotic process automation (RPA) software extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, rise in demand for robotic process automation in the logistics industry will further expand the market.

Restraints/Challenges

On the other hand, data insecurity risk hindering the implementation of software in the financial sector is expected to obstruct market growth. Also, lack of awareness regarding robotic process automation is projected to challenge the robotic process automation (RPA) software market in the forecast period of 2022-2029.

This robotic process automation (RPA) software market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on robotic process automation (RPA) software market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Robotic Process Automation (RPA) Software Market

The COVID-19 has impacted robotic process automation (RPA) software market. The limited investment costs and lack of employees hampered sales and production of robotic process automation (RPA) market technology. However, government and market key players adopted new safety measures for developing the practices. The advancements in the technology escalated the sales rate of the hardware and software as it targeted the right audience. The increase in number of enterprises the globe is expected to further drive the market growth in the post-pandemic scenario.

Recent Developments

• Blue Prism RPA and Nexis Diligence joined hands in January’2020. The partnership aims at improving the efficiency and effectiveness of their entity owing to the diligence process with intelligent automation capabilities.

Global Robotic Process Automation (RPA) Software Market Scope and Market Size

The indoor robots market is segmented on the basis of product type, service, deployment, organization, process, operation and application. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

• Software Services
• Tools

Service

• Consulting
• Implementing
• Training

Deployment

• Cloud
• On-Premise

Organization

• Large Enterprise
• Small/Medium Enterprise

Application

• BFSI
• Retail
• Consumer Goods
• Pharma and Healthcare
• Information Technology and Telecom
• Communication and Media Education
• Manufacturing
• Logistics
• Utilities
• Banking and Financial Services, Insurance
• Travel
• Hospitality
• Transportation
• Government
• Academics
• Others

Process

• Automated Solution Decision Support
• Management Solution
• Interaction Solution

Operation

• Rule Based
• Knowledge Based

Robotic Process Automation (RPA) Software Market Regional Analysis/Insights

The robotic process automation (RPA) software market is analysed and market size insights and trends are provided by country, product type, service, deployment, organization, process, operation and application as referenced above.

The countries covered in the robotic process automation (RPA) software market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA).

Asia-Pacific dominates the robotic process automation (RPA) software market because of the high penetration rate of process management and automation solutions among enterprises within the region.

North America is expected to witness significant growth during the forecast period of 2022 to 2029 because of the proliferation of technology in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Robotic Process Automation (RPA) Software Market

The robotic process automation (RPA) software market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to robotic process automation (RPA) software market.

Some of the major players operating in the robotic process automation (RPA) software market are

• UiPath (Romania)
• AUTOMATION ANYWHERE (US)
• Blue Prism Limited (UK)
• KUFAX Inc. (US)
• Pegasystems (US)
• NTT Advanced Technology Corporation (Japan)
• EdgeVerve Systems Limited (India)
• FPT software (Vietnam)
• HelpSystems
• Redwood Software (US)
• IPSoft (US)
• Celaton ltd (UK)
• Atos SE (France)
• Cognizant Infosys Ltd (US)
• Xerox Corporation (US)
• Jacada (Israel)
• Kryon (Israel)
• business Vision (UK)