Global robotic process automation market is poised to witness notable growth in the future. RPA solutions are experiencing a significant adoption among business aiming to cut operational expenses. Widespread adoption of automated solutions across numerous end-use verticals will positively impact the industry outlook.
Based on the type of solution, the RPA market is bifurcated into decision and management support, automated, interaction. Interaction solutions are expected to dominate the industry in the coming years. This can be linked with the increasing need for reducing human error rates in processes that interact with the internal IT systems.
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In terms of services, the RPA market includes professional services and training & consulting services. Training and consulting services are expected to witness a substantial demand in the forthcoming years. The demand will be mainly driven by the increasing adoption of RPA solutions among small and medium enterprises (SMEs).
The RPA industry, on the basis of tool, is segmented into model-based and process-based. Model-based RPA solutions are anticipated to dominate the market over the next few years, with a strong demand for continuous testing tools such as analytics and dashboards.
Based on operation, the RPA market is classified into rule-based and knowledge-based solutions. The demand for knowledge-based RPA tools is expected to grow substantially in the future, with the growing use of AI technology for understanding employee and customer behavior and streamlining business processes. The implementation of advanced analytics solutions will further boost this demand.
Considering the size of the organization, the market includes SMEs and large enterprises. Large enterprises are likely to create a notable demand for robotic process automation tools to minimize operational costs and reduce the dependency on human resources. RPA service providers, meanwhile, are investing in research and development, and adopting collaboration strategies with global players to help address this demand.
Robotic process automation is extensively used in BFSI, healthcare, IT & telecom, manufacturing, transportation, retail, energy & utilities, and others. The manufacturing sector has been one of the leading adopters of RPA tools and will account for a substantial share of the market by 2026. RPA adoption in manufacturing will be driven by the widespread adoption of industry 4.0 worldwide.
RPA is a critical innovation in industry 4.0 which can help manufacturers improve productivity, drive product innovation, and meet customers’ expectations all while lowering costs. From a geographical perspective, the RPA industry in the Middle East and Africa is slated to witness notable growth over the next several years. The regional trends can be associated with the presence of well-established oil and gas companies as well as the emergence of new players.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Robotic process automation market 360° synopsis, 2016 – 2026
2.1.1 Business trends
2.1.2 Service trends
2.1.3 Tools trends
2.1.4 Organization size trends
2.1.5 Solution trends
2.1.6 Operation trends
2.1.7 Application trends
2.1.8 Regional trends
Chapter 3 Industry Insights
3.1 Industry segmentation
3.2 Impact of COVID-19 on robotic process automation market landscape
3.2.1 Global outlook
3.2.2 Regional impact
22.214.171.124 North America
126.96.36.199 Asia Pacific
188.8.131.52 Latin America
3.2.3 Industry value chain
184.108.40.206 Research & development
3.2.4 Competitive landscape
220.127.116.11 Distribution network
18.104.22.168 Business growth
3.3 Industry ecosystem analysis
3.3.1 Technology providers
3.3.2 Software Developers
3.3.3 End use landscape
3.3.4 Distribution channel analysis
3.3.5 Vendor matrix
3.4 Technology & innovation landscape
3.5 Regulatory landscape
3.5.1 North America
3.5.3 Asia Pacific
3.5.4 Latin America
3.6 Industry impact forces
3.6.1 Growth drivers
22.214.171.124 High demand to minimize operational cost across businesses in North America
126.96.36.199 Increasing demand for RPA across BFSI and IT & telecom industries in Asia-Pacific
188.8.131.52 Rising collaboration and partnership activities with government to develop public sectors in Europe
184.108.40.206 Increasing demand for automation in oil & gas industries in MEA
220.127.116.11 Rising BPO industry in Latin America
3.6.2 Industry pitfalls & challenges
18.104.22.168 High cost associated with the technology
22.214.171.124 Lack of awareness regarding RPA in underdeveloped and emerging economies
3.7 Growth potential analysis
3.8 Porter’s analysis
3.8.1 Supplier power
3.8.2 Buyer power
3.8.3 Threat of new entrants
3.8.4 Threat of substitutes
3.8.5 Internal rivalry
3.9 PESTEL analysis
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