Enterprise Robotic Process Automation Market Research Report- Forecast to 2027

Global Enterprise Robotic Process Automation Market Research Report: By Type (Tools), Process (Automated Solution), Operations (Rule-Based), Industry (Telecom) - Forecast Till 2027

ID: MRFR/ICT/3949-HCR | October 2022 | Region: Global | 100 Pages         

Enterprise Robotic Process Automation Market

Enterprise Robotic Process Automation Market is projected to be worth USD 19.7 billion by 2027, registering a CAGR of 10% during the forecast period (2020 - 2027)

Segmentation

By Type Tools
By Process Automated Solution
By Operations Rule Based

Key Players

  • Automation Anywhere (U.S.)
  • Blue Prism Group (U.K.)
  • Celaton Ltd (U.K.)
  • IPSoft (U.S.)
  • Nice Systems Ltd. (Israel)
  • Pegasystems Inc. (U.S.)
  • Redwood Software (U.S.)
  • UiPath (Romania)
  • Verint (U.S.)
  • Happiest Minds (India)
  • International Business Machines Corporation (U.S.)

Drivers

  • The iBot-enabled robotic process automation snips are gaining momentum among organizations
  • This iBot solution
  • a family of intelligent robots
Speak to Analyst Request a Free Sample

Enterprise Robotic Process Automation Market Scenario:
The Enterprise Robotic Process Automation Market is projected to have exponential growth. It is estimated that due to various supportive factors, the value of the market will rise during the forecast period 2020-2027. The rising demand for artificial intelligence and robotic process solutions are the major driving factors for market growth. The vendors or manufacturers are improving the tools and products with new features.

Robotic Process Automation is basically a technology that comprises artificial intelligence technology with compatible software to handle specific tasks. The implementation of cloud-based technology rapidly will help the market to grow. In the future, the market is expected to draw huge returns for investments in this sector.


New integration such as management of workload, credential management, Citrix automation, APIs, and many more are added Also, the development of PaaS, IaaS, and SaaS offer better management of customer's need and cloud management. Apart from that, better network connectivity and other various factors are influencing the market positively.


Also, the technological advancements will help to reduce the risks, errors and improve the workflow. The Enterprise Robotic Process Automation Market Analysis also helps to enhance the experience of customer’s transaction, processing, etc. It will also help to establish better communication with other systems devices as well. The North American region is projected to hold the largest market share followed by Europe, Asia-Pacific, and the Rest of the world.


COVID-19 Analysis:
The implementation of lockdown as a precautionary measure to control the COVID-19 disease had a huge impact on the market. To combat the situation, the manufacturers and business organizations have shifted towards digital solutions. Hence, this can promote the ERPA market growth to some extent. The automated software will also help to reduce the drastic impact caused by Coronavirus. Several companies have suffered huge losses due to the pandemic. If the pandemic is controlled soon, then it is projected to revive the market.


Enterprise Robotic Process Automation Market Dynamics:
Drivers:
According to the Enterprise Robotic Process Automation Market Analysis, the market will have exponential growth in the forthcoming years. The rising need for automated tools and usage of artificial intelligence are the major drivers of the Enterprise Robotic Process Automation Industry. Also, the pertinence of cloud-based applications for better network connectivity and data management will be beneficial for the market. Several market vendors are developing their services with new features to improve and manage the work efficiently.


Restraints:
Several restraints can affect the market growth during the forecast period. One of the major restraints is the threat of cyber threats. Along with the dependency on cloud-based solutions, there rising cases of cyber theft are a major concern for the growth. Also, the initial complexities to understand its functions and high costs will hinder the market growth.


Opportunities:
The increasing Enterprise Robotic Process Automation Market Trends for cloud platforms and robotic solutions will open new opportunities for the key players. Especially, the industries in the end-user sections will improve the current position of the market. The new features and smooth interface are projected to drive the Enterprise Robotic Process Automation Industry as well.


Challenge:
The major challenge for the Enterprise Robotic Process Automation Industry is the low availability of skilled professionals. The robotic solutions and cloud platforms and other integrated solutions will be a great challenge. Also, it has to compete with the IT departments for various uses. Also, the vague expectations about the benefits of the company can give false hope for market growth. 


Cumulative Analysis:
The rising use of automated solutions and artificial technology will drive the global Enterprise Robotic Process Automation Market.  It is projected that the market will grow at an exponential Compound Annual Growth Rate (CAGR). Hence, the market size will expand will have to reach a substantial USD million during the forecast period- 2019-2023.


Value Chain Analysis:
With the rising use of automated and cloud-based solutions, the demand for Robotic Process Automation will increase. The investments by the key players for research and development will boost the market in the upcoming years. Hence, the market will gain huge support in the upcoming years as its value will rise simultaneously.


Enterprise Robotic Process Automation Market Segmentations:
The Enterprise Robotic process Automation Industry is divided into operations, industry, process, and type.


  • On the basis of operations, the Enterprise Robotic Process Automation Industry is further divided into knowledge-based and rule-based.

  • According to type, the Enterprise Robotic Process Automation Market Segments have been further divided into services and tools.

  • Based upon industry, the industry segment is further classified into telecom, healthcare, manufacturers, retail, BSFI, and others.

  • On the basis of operations, the global Enterprise Robotic Process Automation Market is divided into decision support, interaction solutions, automated solutions, management solutions, and others.


Enterprise Robotic Process Automation Market Regional Analysis:
Geographically, the ERPA market is divided into Europe, North America, Asia Pacific, and the rest of the world. It is projected that North America will hold the largest Enterprise Robotic Process Automation Market Size. It is due to the rising demand for resource planning. Hence, several companies are now looking forward to integrating the robotic automation process.


After North America, the Europe region has the second-largest contribution for the Enterprise Robotic Process Automation Market Growth. Several European countries are shifting their process towards robotic automation are the major growth factors. Also, the rising investments by the key players will propel market growth.


The Asia Pacific region is also estimated to have significant growth during the forecast period. Developing countries such as India, China, and Japan are the top growing regions for the ERPA market. The other countries in the rest of the world will also experience steady growth during the forecast period.


Enterprise Robotic Process Automation Market Competitive Landscape:
Various companies use different strategies to increase their business portfolio. They do collaborations, market analysis, joint ventures, launch new products, and many more. In this way, these key players are able to generate more revenue and increase their presence in various countries.Some of the renowned key players of Enterprise Robotic Process Automation Industry are-



  • Blue Prism Group (U.K.)

  • Xerox Corporation (U.S.)

  • Pegasystems Inc. (U.S.)

  • Verint (U.S.)

  • International Business Machines Corporation (U.S.)

  • Automation Anywhere (U.S.)

  • Nice Systems Ltd. (Israel)

  • Celaton Ltd (U.K.)

  • UiPath (Romania)

  • Happiest Minds (India)

  • IPSoft (U.S.)

  • Redwood Software (U.S.)


Recent Developments:



  • In 2017, Kofax which is one of the leading software providers launched its new product called "Kofax Kapow Solutions. This new launch is expected to solve the operational problems and improve workflow. It is also expected to save overall costs and provide customer satisfaction.

  • In Cleveland Clinic announced to integrate the application of UiPath robots to manage the current pages in the hospital. The robots are highly advanced and save time for testing COVID-19 disease.

  • In 2017, UiPath which is a renowned key player of the Enterprise Robotic Process Automation partnered with a company known as Symphony Ventures. This partnership was aimed to provide managerial services such as entertainment, healthcare, airlines, and many more.


Report Overview:
The report overview of the Global Enterprise Robotic Process Automation Market is listed in the following-



  • Overview of the market

  • COVID 19 analysis

  • Dynamics of the market

  • Value chain analysis

  • Market segmentation

  • Regional analysis

  • Competitive landscape

  • Recent Developments of the key players


Report Score and Segmentation:



  • Study Period 2021-2027

  • Base Year 2021

  • Forecast Period 2021-2027

  • Historical Period 2020-2021


The scope of the report is to provide substantial information about the Enterprise Robotic Process Automation Industry. Moreover, it also gives information about the COVID-19 Analysis, market restraints, opportunities, etc. It also contains information about major key players.


Segmentation Table:



  • By Process

  • Management Solutions

  • Automated Solutions

  • Interaction Solutions

  • Decision Solutions

  • Others



  • By Industry

  • Manufacturers

  • Retail

  • BFSI

  • Retail

  • Healthcare

  • Others



  • By Operations

  • Knowledge-Based

  • Rule-Based



  • By Type

  • Services

  • Tools



  • By Region

  • Europe

  • North America

  • Asia-Pacific

  • Rest of the World



Report Scope:

Report Attribute/Metric Details
  Market Size   2027: Significant Value
  CAGR   Substantial CAGR
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Type, Process
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Automation Anywhere (U.S.), Blue Prism Group (U.K.), Celaton Ltd (U.K.), IPSoft (U.S.), Nice Systems Ltd. (Israel), Pegasystems Inc. (U.S.), Redwood Software (U.S.), UiPath (Romania), Verint (U.S.), Happiest Minds (India), International Business Machines Corporation (U.S.) and Xerox Corporation (U.S.).
  Key Market Opportunities   The¬†industrial¬†robotic process automation market is¬†witnessing¬†the¬†fastest¬†growth¬†owing¬†to the¬†growth in industrial¬†planning.
  Key Market Drivers

  • The iBot-enabled robotic process automation snips are gaining momentum among organizations. \r\n
  • This iBot solution, a family of intelligent robots, helps in all kind of process-driven industries and paperwork intensive departments among industries.


  • Speak to Analyst Ask for Customization

    Frequently Asked Questions (FAQ) :

    The Enterprise Robotic Process Automation Market is expected to be worth USD 19.7 billion by 2027, growing at a CAGR of 10% over the forecast period (2020 - 2027).

    The market is anticipated to garner massive revenues over the coming years, backed by the emergence of machine learning and AI all over the world.

    Happiest Minds (India), Celaton Ltd (U.K.), IPSoft (U.S.), Nice Systems Ltd. (Israel), Pegasystems Inc. (U.S.), Blue Prism Group (U.K.), UiPath (Romania), Verint (U.S.), International Business Machines Corporation (U.S.), Automation Anywhere (U.S.), Redwood Software (U.S.), Xerox Corporation (U.S.), are the top growth-influencers in the global ERPA market.

    North America is on track to becoming the largest market for enterprise robotic process automation.

    India, China and Japan are the most profitable markets for ERPA in Asia Pacific.

    The market is slated to progress at a strong growth rate over the conjectured timeframe, given the rising demand for AI across enterprises.