ID: MRFR/ICT/3949-HCR | 100 Pages | Author: Ankit Gupta | June 2023
Enterprise Robotic Process Automation Market is projected to be worth USD 19.7 billion by 2027, registering a CAGR of 38.20% during the forecast period (2022 - 2030)
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 2022-2030. 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 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-
Report Overview:The report overview of the Global Enterprise Robotic Process Automation Market is listed in the following-
Report Score and Segmentation:
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.
|Market Size||USD 30.85 Billion|
|Forecast Period||2022 - 2030|
|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 Enterprise Robotic Process Automation Market is expected to be worth USD 30.85 billion by 2030, growing at a CAGR of 38.20% over the forecast period (2022 - 2030).
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.
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