Global Business Process Automation Market is valued at USD 11.51 Billion in 2021 and is expected to reach USD 26.1 Billion by 2028 with a CAGR of 12.4% over the forecast period.
The increase in the demand for the BPA (Business Process Automation) for the usage of AI as well as software robots has been anticipated as the major driver of growth of the global robotic process automation market. The improvement in the core businesses with the RPA has been enabling the organizations for streamlining IT as well as business operations. Moreover, the ability to learn many skills without the intervention of humans has been carrying out consistent functions and the scaling down or up for meeting the demand has been expected to the augmenting the RPA demand. The part that technology has been playing is evolving at a pace at a faster pace. The previous few decades have witnessed many waves of technology progression which is majorly impacting the growth of the business.
Some of the technologies have been declining now since businesses all over the globe have been transforming into a digital environment which is dynamic though the RPA has been expected to evolve and soar in the period of forecast. The enterprises which are modern need the technology at implementation and execution at a faster level as well as scaling. This alleviates the workers of their daily and repetitive tasks of every day by processing the work flow a lot quicker and also with a lot more efficiency. It is also improving and scaling businesses up, providing better security of data and also improving the effectiveness by the interpretation of the existing application for the processing of a transaction and triggering the responses, manipulation of data, and communication with the rest of the digital systems which had earlier been done manually. The global size of the global robotic process automation market has been expected to see a good amount of growth and has been seeing an increase in demand.
Technological advancement has triggered businesses to overcome these challenges and has an objective of coping up with consumer demands which are ever-changing. Recently, the adoption of automation has been capturing the attention of SMEs along with the larger organization. This has been attributed to the ability of them delivering seamless operation in addition to the major value addition from resources. Worldwide organizations have been looking constantly into the identification process which may be automated for increasing productivity. All such factors are boosting the overall global robotic process automation market growth.
The solutions of RPA don’t eliminate completely the need for the enterprise application or business management and their integration however they offer a means which is complex as well as costly processes and they also expedite the back office and tasks of the middle office. It has also eased the processes in the systems processes in these complicated systems and given an allowance for interacting together in a fluid manner. Besides, it is enabling a quicker transformation of the management processes centrally for the leveraging of growth and agility in the services of business.
The market has been led off late by North America and it is also expected to further lead the market in the next few years and this is because of the increase in the process of automation and the management solutions in this region. Besides, the industry of virtual workforce has also evolved and a lot of agencies for appending and beginning of the United States robotic process automation market. Asia Pacific is a region which is expected to see growth at the fastest level in the global robotic process automation market in the period of forecast. This is due to the rising awareness with regard to automation in this region and has also expected to boost demand. Further, it has increased the demand for the solutions in sectors of BPO in India and China for contributing to the growth in the global robotic process automation market.
|Historical data||2015 - 2021|
|Forecast Period||2021 - 2028|
|Market Size in 2021:||USD 11.51 Billion|
|Base year considered||2020|
|Forecast Period CAGR %:||12.4%|
|Market Size Expected in 2028:||USD 26.1 Billion|
|Tables, Charts & Figures:||175|
|Business Process Automation Companies||Schneider Electric, Yokogawa, Siemens, ABB, Rockwell Automation, Polycom|
|Segments Covered||By Types, By Application|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|