Global Robotic Process Automation market by Process (Automated Solution, Decision Support & Management, Interaction Solution) by Industry (Banking, Financial Service and Insurance (BFSI), Telecom & IT, Retail and Consumer Goods, Manufacturing, Healthcare and Pharmaceuticals) Forecast & Opportunities, 2018-2024

Global Robotic Process Automation market by Process (Automated Solution, Decision Support & Management, Interaction Solution) by Industry (Banking, Financial Service and Insurance (BFSI), Telecom & IT, Retail and Consumer Goods, Manufacturing, Healthcare and Pharmaceuticals) Forecast & Opportunities, 2018-2024

Published: 10/06/2018

Report Code: BWC1804

Available Format: PDF PDF Icon

Pages: 226

Global Robotic Process Automation Market: Overview

The study reveals that the global RPA market is expected to cross USD7, 000 Million by 2024, with a CAGR over 27% during the forecast period. Due to significant growth in technologies such as artificial intelligence (AI) and cognitive learning, the adoption of business automation technologies by enterprises has also increased. This has led to a rapid increase in demand for virtual workforce to eliminate repetitive human efforts, on the back of which, the global robotic process automation market is gaining traction.

Continuous advancement in AI and cognitive computing escalates the market growth. With growing advancement in Artificial intelligence & cognitive computing, which include machine learning techniques and greater computational power, Robotic process automation is also gaining traction and is anticipated to show a robust growth in the years to come. Earlier AI & RPA were considered as two different technologies, but now they are complimenting each other to process huge volumes of data and providing better decision making for organizations. Cognitive based computing which include adaptive learning, speech recognition and pattern identification algorithm is inherited in robotic process automation to transform business and taking the organization to the next level.

Global Robotic Process Automation Market: Research Summary 

According to BlueWeave Consulting, the key findings of the report “Global Robotic Process Automation Market Size, Share, Development, Growth and Demand Forecast to 2024” are:

  •  As per the findings of the research, ‘Rule based operations’ have been the largest revenue generators in the global robotic process automation market, as compared to ‘Knowledge based operations’. The rule based operation has gained significant interest from all sized enterprises as it enables organizations to configure software robots that effectively automate various annual and highly repetitive tasks. It also helps the organization, saving their time by completing an actual human task within a fraction of second. The market for rule based operations is expected to continue its dominance, during the forecast period, as it can easily be integrated within a business ecosystem without disrupting the traditional or legacy business framework.
  • Geographically, North America has been the largest market for robotic process automation, whereas Asia-Pacific is expected to witness the fastest growth among all regions, during the forecast period. The anticipated growth in the market can be attributed to factors such as advancement in new technologies, growing digitalization, growth in automation software industry, and increasing adoption of business process automation solutions by small and medium scale enterprises in the region.
  • Further, due to increase in demand for automation in major industry tasks such as business process outsourcing (BPO), outbound sales and other back office work will adopt robotic process automation solutions in the next few years.

Global Robotic Process Automation Market: Market Dynamics

Global robotic process automation market is anticipated to show double digit growth during forecast period. The market is expected to trend incline towards RPA owing to the reduction in workforce cost coupled with rise in adoption process. The major factor that will drive robotic process automation market further includes surge in demand for virtual workforces along with ease of doing business. However, constant change in automation technology and unavailability of technical workforce may hinder the growth of global RPA market in coming years. Some of the major trends observed in this market are evolution of robust software platforms, overall cost reduction related to workforce and continuous advancement in fields of AI and cognitive computing.

Global Robotic Process Automation Market, Revenue Forecast, USD (Million), 2014-2024Robotic Process Automation Market Graph

Global Robotic Process Automation Market: Research Methodology 

Extensive secondary research was conducted using paid data sources including Bloomberg, Factiva, Capital IQ, OneSource, and Hoovers. Additionally, several publicly-available data sources were used including journals, statistics articles, and industry associations. These data sources were used to gather relevant information to develop an understanding on the global robotic process automation market. The research was conducted covering the desk research and primary research. Data sources used for primary research included online forums and blogs, CATI/CAWI, CAPI interviews, and video conferences. Additionally, interviews were conducted through connecting with various industry respondents including C-level executives, directors, divisional heads, regional heads, expert consultants, and independent consultants. The primary research was conducted to gain market insights from industry respondents and validate the gathered information through desk research.

 Global Robotic Process Automation Market: Competitive Dynamics

The research states that the global robotic process automation market is highly competitive, with players developing new robotic process automation applications. Some of the key players operating in the robotic process automation ecosystem are Nice Systems Ltd., Pegasystems Inc., Automation Anywhere, Blue Prism PLC, Ipsoft, Inc., Celaton Ltd., Redwood Software, Uipath SRL, Verint System Inc., Xerox Corporation, and IBM Corporation. Most of the major vendors in the global robotic process automation market are actively focused on enhancing their offerings to meet the ongoing demand for advanced business automation solutions. This includes software integrated with artificial intelligence, and cognitive learning.

Chapter 1. Research Objective

1.1. Objective of the Study

1.2. Market Definition

1.3. Process Overview

1.4. Market Scope

1.3.1. Market Segmentation by Process

1.3.2. Market Segmentation by Operation

1.3.3. Market Segmentation by Service

1.3.4. Market Segmentation by User Size

1.3.5. Market Segmentation by Industry

1.5. Analysis Period of the Study

1.6. Data Reporting Unit

1.7. Key Stakeholders

Chapter 2. Research Methodology

2.1. Research Methodology

2.2. Regional Split of Primary and Secondary Research

2.3. Secondary Research

2.4. Primary Research

2.2.1. Breakdown of Primary Research Respondents

2.2.1.1. By Region

2.2.1.2. By Industry Participants

2.3. Market Size Estimation

2.4. Assumptions for the Study

2.5. Market Breakdown and Data Triangulation

Chapter 3. Executive Summary

Chapter 4. Market Introduction

4.1. Introduction

4.1.1. Overview by Product

4.1.2. Overview by Operation

4.1.3. Overview by Service

4.1.4. Overview by User Size

4.1.5. Overview by Industry

4.2. Value Chain Analysis

4.3. Market Dynamics

4.3.1. Trends

4.3.2. Drivers

4.3.2.1 Impact analysis of Drivers

4.3.3. Restraints

4.3.3.1 Impact Analysis of Restraints

4.3.4. Opportunities

4.4. Porter’s Five Forces Analysis

4.4.1. Bargaining Power of Supplier

4.4.2. Bargaining Power of Buyers

4.4.3. Threat of New Entrants

4.4.4. Threat of Substitute

4.4.5. Intensity of Rivalry

Chapter 5. Market Size and Forecast by Process

Chapter 6. Market Size and Forecast by Operations

Chapter 7. Market Size and Forecast by Service

Chapter 8. Market Size and Forecast by User Size

Chapter 9. Market Size and Forecast by Industry

Chapter 10. Market Size and Forecast by Geography

10.1. North America

10.2. Europe

10.3. Asia-Pacific

10.4. Middle-East & Africa

10.5. Latin America

Chapter 11. Market Competitiveness

11.1. Market Landscape

11.2. Market Player Analysis

11.3. Recent Activities of Major Players

11.3.1. Partnerships

11.3.2. Product Launch

11.3.3. Others

Chapter 12. Company Profiles

12.1. Nice Systems Limited

12.2. Pegasystems Inc.

12.3. Automation Anywhere Inc.

12.4. Blue Prism Limited

12.5. Celaton Limited

12.6. Redwood Software Inc.

12.7. Ipsoft Inc.

12.8. UiPath

12.9. Zerox Corporation

12.10. IBM Corporation

Chapter 13. Appendix

List of Figure

Figure:1  Global RPA market, BY Process, $M (2014 – 2024)
Figure:2  Global automated solution market, BY region, $M (2014 – 2024)
Figure:3  Global Decision support and management market, BY region, $M (2014 – 2024)
Figure:4  Global Interaction Solution market, BY region, $M (2014 – 2024)
Figure:5  Global RPA market, BY Operation, $M (2014 – 2024)
Figure:6  Global Rule Based RPA market, BY region, $M (2014 – 2024)
Figure:7  Global knowledge based RPA market, BY region, $M (2014 – 2024)
Figure:8  Global RPA market, BY Service, $M (2014 – 2024)
Figure:9  Global professional service market in RPA, BY region, $M (2014 – 2024)
Figure:10  Global training and support market in RPA, BY region, $M (2014 – 2024)
Figure:11  Global RPA market, BY user size, $M (2014 – 2024)
Figure:12  Global RPA market from SME’s, BY region, $M (2014 – 2024)
Figure:13  Global RPA market from large enterprise, BY region, $M (2014 – 2024)
Figure:14  Global RPA market, BY industry, $M (2014 – 2024)
Figure:15  Global RPA market from BFSI, BY region, $M (2014 – 2024)
Figure:16  Global RPA market from telecom & it, BY region, $M (2014 – 2024)
Figure:17  Global RPA market from retail and consumer goods, BY region, $M (2014 – 2024)
Figure:18  Global RPA market from manufacturing, BY region, $M (2014 – 2024)
Figure:19  Global RPA market from Healthcare and Pharmaceuticals, BY region, $M (2014 – 2024)
Figure:20  Global RPA market from other industries, BY region, $M (2014 – 2024)
Figure:21  North America RPA market, BY process, $M (2014 – 2024)
Figure:22  North America RPA market, BY Operation, $M (2014 – 2024)
Figure:23  North America RPA market, BY Service, $M (2014 – 2024)
Figure:24  North America RPA market, BY User Size, $M (2014 – 2024)
Figure:25  North America RPA market, BY Industry, $M (2014 – 2024)
Figure:26  North America RPA market, BY country, $M (2014 – 2024)
Figure:27  Europe RPA market, BY process, $M (2014 – 2024)
Figure:28  Europe RPA market, BY Operation, $M (2014 – 2024)
Figure:29  Europe RPA market, BY Service, $M (2014 – 2024)
Figure:30  Europe RPA market, BY User Size, $M (2014 – 2024)
Figure:31  Europe RPA market, BY Industry, $M (2014 – 2024)
Figure:32  Europe RPA market, BY country, $M (2014 – 2024)
Figure:33  Asia-Pacific RPA market, BY process, $M (2014 – 2024)
Figure:34  Asia-Pacific RPA market, BY Operation, $M (2014 – 2024)
Figure:35  Asia-Pacific RPA market, BY Service, $M (2014 – 2024)
Figure:36  Asia-Pacific RPA market, BY User Size, $M (2014 – 2024)
Figure:37  Asia-Pacific RPA market, BY User Size, $M (2014 – 2024)
Figure:38  Asia-Pacific RPA market, BY country, $M (2014 – 2024)
Figure:39  MEA RPA market, BY process, $M (2014 – 2024)
Figure:40  MEA RPA market, BY Operation, $M (2014 – 2024)
Figure:41  MEA RPA market, BY Service, $M (2014 – 2024)
Figure:42  MEA RPA market, BY User Size, $M (2014 – 2024)
Figure:43  MEA RPA market, BY Industry, $M (2014 – 2024)
Figure:44  Mea RPA market, BY country, $M (2014 – 2024)
Figure:45  Latin America RPA market, BY process, $M (2014 – 2024)
Figure:46  Latin America RPA market, BY Operation, $M (2014 – 2024)
Figure:47  Latin America market, BY Service, $M (2014 – 2024)
Figure:48  Latin America RPA market, BY User Size, $M (2014 – 2024)
Figure:49  Latin America RPA market, BY Industry, $M (2014 – 2024)
Figure:50  Latin America RPA market, BY country, $M (2014 – 2024)

List of Table
Table 1  Global RPA market, BY Process, $M (2014 – 2017)
Table 2  Global RPA market, BY Process, $M (2018 – 2024)
Table 3  Global automated Solution market, BY region, $M (2014 – 2017)
Table 4  Global automated solution market, BY region, $M (2018 – 2024)
Table 5  Global Decision support and management market, BY region, $M (2014 – 2017)
Table 6  Global Decision support and management market, BY region, $M (2018 – 2024)
Table 7  Global Interaction Solution market, BY region, $M (2014 – 2017)
Table 8  Global Interaction Solution market, BY region, $M (2018 – 2024)
Table 9  Global RPA market, BY Operation, $M (2014 – 2017)
Table 10  Global RPA market, BY Operation, $M (2018 – 2024)
Table 11  Global Rule based RPA market, BY region, $M (2014 – 2017)
Table 12  Global Rule based RPA market, BY region, $M (2014 – 2017)
Table 13  Global knowledge based RPA market, BY region, $M (2014 – 2017)
Table 14  Global knowledge based RPA market, BY region, $M (2018 – 2024)
Table 15  Global RPA market, BY Service, $M (2014 – 2017)
Table 16  Global RPA market, BY Service, $M (2018 – 2024)
Table 17  Global professional service market in RPA, BY region, $M (2014 – 2017)
Table 18  Global professional service market in RPA, BY region, $M (2018 – 2024)
Table 19  Global training and support market in RPA, BY region, $M (2014 – 2017)
Table 20  Global training and support market in RPA, BY region, $M (2018 – 2024)
Table 21  Global RPA market, BY user size, $M (2014 – 2017)
Table 22  Global RPA market, BY user size, $M (2018 – 2024)
Table 23  Global RPA market from SME’s, BY region, $M (2014 – 2017)
Table 24  Global RPA market from SME’s, BY region, $M (2018 – 2024)
Table 25  Global RPA market from large enterprise, BY region, $M (2014 – 2017)
Table 26  Global RPA market from large enterprise, BY region, $M (2018 – 2024)
Table 27  Global RPA market, BY industry, $M (2014 – 2017)
Table 28  Global RPA market, BY industry, $M (2018 – 2024)
Table 29  Global RPA market from BFSI, BY region, $M (2014 – 2017)
Table 30  Global RPA market from BFSI, BY region, $M (2018 – 2024)
Table 31  Global RPA market from telecom & it, BY region, $M (2014 – 2017)
Table 32  Global RPA market from telecom & it, BY region, $M (2018 – 2024)
Table 33  Global professional service market in RPA, BY region, $M (2014 – 2017)
Table 34  Global professional service market in RPA, BY region, $M (2018 – 2024)
Table 35  Global training and support market in RPA, BY region, $M (2014 – 2017)
Table 36  Global training and support market in RPA, BY region, $M (2018 – 2024)
Table 37  Global RPA market, BY user size, $M (2014 – 2017)
Table 38  Global RPA market, BY user size, $M (2018 – 2024)
Table 39  Global RPA market from SME’s, BY region, $M (2014 – 2017)
Table 40  Global RPA market from SME’s, BY region, $M (2018 – 2024)
Table 41  Global RPA market from large enterprise, BY region, $M (2014 – 2017)
Table 42  Global RPA market from large enterprise, BY region, $M (2018 – 2024)
Table 43  Global RPA market, BY industry, $M (2014 – 2017)
Table 44  Global RPA market, BY industry, $M (2018 – 2024)
Table 45  Global RPA market from BFSI, BY region, $M (2014 – 2017)
Table 46  Global RPA market from BFSI, BY region, $M (2018 – 2024)
Table 47  Global RPA market from telecom & it, BY region, $M (2014 – 2017)
Table 48  Global RPA market from telecom & it, BY region, $M (2018 – 2024)
Table 49  North America RPA market, BY industry, $M (2014 – 2017)
Table 50  North America RPA market, BY industry, $M (2018 – 2024)
Table 51  North America RPA market, BY country, $M (2014 – 2017)
Table 52  North America RPA market, BY country, $M (2018 – 2024)
Table 53  Europe RPA market, BY Process, $M (2014 – 2017)
Table 54  Europe Home security market, BY product, $M (2018 – 2024)
Table 55  Europe RPA market, BY Operation, $M (2014 – 2017)
Table 56  Europe RPA market, BY Operation, $M (2018 – 2024)
Table 57  Europe RPA market, BY Service, $M (2014 – 2017)
Table 58  Europe RPA market, BY Service, $M (2018 – 2024)
Table 59  Europe RPA market, BY User Size, $M (2014 – 2017)
Table 60  Europe RPA market, BY User Size, $M (2018 – 2024)
Table 61  Europe RPA market, BY industry, $M (2014 – 2017)
Table 62  Europe RPA market, BY industry, $M (2018 – 2024)
Table 63  Europe RPA market, BY country, $M (2014 – 2017)
Table 64  Europe RPA market, BY country, $M (2018 – 2024)
Table 65  Asia-Pacific RPA market, BY Process, $M (2014 – 2017)
Table 66  Asia-Pacific Home security market, BY product, $M (2018 – 2024)
Table 67  Asia-Pacific RPA market, BY Operation, $M (2014 – 2017)
Table 68  Asia-Pacific RPA market, BY Operation, $M (2018 – 2024)
Table 69  Asia-Pacific RPA market, BY Service, $M (2014 – 2017)
Table 70  Asia-Pacific RPA market, BY Service, $M (2014 – 2017)
Table 71  Asia-Pacific RPA market, BY User Size, $M (2014 – 2017)
Table 72  Asia-Pacific RPA market, BY User Size, $M (2018 – 2024)
Table 73  Asia-Pacific RPA market, BY industry, $M (2014 – 2017)
Table 74  Asia-Pacific RPA market, BY industry, $M (2018 – 2024)
Table 75  Asia-Pacific RPA market, BY country, $M (2014 – 2017)
Table 76  Asia-Pacific RPA market, BY country, $M (2018 – 2024)
Table 77  MEA RPA market, BY Process, $M (2014 – 2017)
Table 78  MEA Home security market, BY product, $M (2018 – 2024)
Table 79  MEA RPA market, BY Operation, $M (2014 – 2017)
Table 80  MEA RPA market, BY Operation, $M (2018 – 2024)
Table 81  MEA RPA market, BY Service, $M (2014 – 2017)
Table 82  MEA RPA market, BY Service, $M (2018 – 2024)
Table 83  MEA RPA market, BY User Size, $M (2014 – 2017)
Table 84  MEA RPA market, BY User Size, $M (2018 – 2024)
Table 85  MEA RPA market, BY industry, $M (2014 – 2017)
Table 86  MEA RPA market, BY industry, $M (2018 – 2024)
Table 87  MEA RPA market, BY country, $M (2014 – 2017)
Table 88  MEA RPA market, BY country, $M (2018 – 2024)
Table 89  Latin America RPA market, BY Process, $M (2014 – 2017)
Table 90  Latin America Home security market, BY product, $M (2018 – 2024)
Table 91  Latin America RPA market, BY Operation, $M (2014 – 2017)
Table 92  Latin America RPA market, BY Operation, $M (2014 – 2017)
Table 93  Latin America RPA market, BY Service, $M (2014 – 2017)
Table 94  Latin America RPA market, BY Service, $M (2018 – 2024)
Table 95  Latin America RPA market, BY User Size, $M (2014 – 2017)
Table 96  Latin America RPA market, BY User Size, $M (2018 – 2024)
Table 97  Latin America RPA market, BY industry, $M (2014 – 2017)
Table 98  Latin America RPA market, BY industry, $M (2018 – 2024
Table 99  Latin America RPA market, BY country, $M (2014 – 2017)
Table 100  Latin America RPA market, BY country, $M (2018 – 2024)

1.     Research Methodology

 

Robotic Process Automation Market Research Methodology
Source: BlueWeave Consulting Analysis

2.    Regional Split of Primary & Secondary Research

Aerial Imagery RM

3.    Secondary Research

The research process began with obtaining historical market sizes of the entire Robotic Process Automation market and the share of each type of segmentation, through exhaustive secondary research to understand the potential of the market under the prevailing market environment during the past years. The growth rate of the market and its segments was studied with a comparative approach to understand the impact of factors that shaped the market during the recent past.

The next step involved the study of present market environment that is influencing the Robotic Process Automation market and its expected long-term impact. Weightage was given to several forces that are expected to affect the home security market, during the forecast period. Based on the interim analysis, the market numbers were formulated for each of the forecast years for every segment.

4.    Primary Research

Various industry experts including CEOs, presidents, vice presidents, directors, sales managers, products managers, organization executives and other key people of the global Robotic Process Automation security market were interviewed. The third step involved validation of hypothesis through segmented primary research with the key opinion leaders in the industry, including the company representatives, experts from distributer agencies, service providers and other industry experts. The primary research helped in assessing the gathered and assumed data with the real-time experience of industry representatives. This also led to modification in certain assumptions that were taken during the process of preliminary research. The analysts arrived at solid data points after the completion of primary research process.

In the fourth step, the market engineering was conducted, where the data points collected through secondary and primary sources were compiled to compute the final market sizes.

4.1    Breakdown of Primary Research Respondents, By Region

Robotic Process Automation
Source: BlueWeave Consulting Analysis

4.2    Breakdown of Primary Research Respondents, By Industry Participants

Robotic Process Automation
Source: BlueWeave Consulting Analysis

5.     Market Size Estimation

Top-down approach has been followed to obtain the market size by region, and by country. Bottom-Up approach has been followed to obtain market size by process and by industry. An amalgamation of bottom-up and top-down approach has been performed to determine the revenue.

6.     Assumptions for the Study

  •  The macro-economic factors would remain same during the forecast period.
  •  The market players would exhibit consistent performance during the forecast period without having any adverse ripple effects on the industry.

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