Robotic Process Automation Market Size & Share, by Industry (Finance, Retail, Healthcare, BFSI, Manufacturing, IT & Telecom), Organization (Large Enterprises, SMEs), Deployment Mode (Cloud, On-Premise), Solution (Service, Software) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2025-2037

  • Report ID: 4814
  • Published Date: Oct 14, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2025-2037

Robotic Process Automation Market size was valued at USD 4.06 billion in 2024 and is set to reach USD 245.26 billion by the end of 2037, expanding at around 37.3% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of robotic process automation is assessed at USD 5.28 billion.

The growth of the market can be attributed to the increasing number of organizations moving towards automation across the globe in order to reduce human errors. Moreover, it is a cutting-edge technology that requires less human intervention, such as machine learning, artificial intelligence, and others. Therefore, the growing adoption of these technologies is expected to boost the growth of the market. By the end of 2024, it is estimated that more than 65 percent of all managerial work will be automated across the globe.

A sophisticated software technique known as robotic process automation (RPA) creates, deploys, and manages software robots. The use of RPA is growing across a wide range of industry sectors owing to its scalability, low investment requirements, and high return on investment (ROI). It helps to streamline workflows and increase employee satisfaction, engagement, and productivity through removing monotonous chores. Nowadays, there has been a high adoption of advanced technologies, which include robotic process automation solutions. Moreover, software robots can be set up to mimic and understand applications for interacting with other digital systems, changing data, and eliciting responses thanks to the technology known as robotic process automation, which is guided by business logic and structured inputs


Robotic Process Automation Market Overview
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Robotic Process Automation Sector: Growth Drivers and Challenges

Growth Drivers

  • Expanding Use of Intelligent Bots – The intelligent bots are incorporated into businesses to improve the customer experience, such as chatbots. Moreover, the service provided 24/7 requires an automation process in order to handle customers. Therefore, it is anticipated to increase the growth of the global robotic process automation market. More than 50 percent of the organization around the world use artificial intelligence chatbots in their IT department in the year 2022.
  • Rising Adoption of Digital Assistants – Digitalization can give industries an upper hand by improving their business operations. Utilizing innovative solutions give consumers a focused edge in their business, and a proper digitalization plan can help improve the quality of work. The channels of digitalization help in providing feedback at regular intervals of time, which could further guide the clients with the strategic decision-making process.  The digital technologies are advancing than any innovation present till now in the world. Moreover, the transformation that is provided by digital technologies for the growth of the growth of digital economy includes robotic process automation. Therefore, RPA has been assisting the people through digital means, and it is anticipated to increase the market’s growth. There were more than 4 billion digital voice assistants that are being used in the devices across the globe in the year 2021.
  • Growing Awareness of Cloud Computing– The majority of the work in an organization is transferred to cloud platforms in order to make the process easier. Moreover, the cloud platform can be operated by a person who is operating away from their office. Hence, it is one of the major factors that is estimated to expand the market’s growth. According to the most recent data, end -user spending on public cloud services is anticipated to increase to more than USD 550 Billion by the end of 2023, worldwide. Moreover, more than 90 percent of the work will be in the cloud within the next five year.
  •  Increasing Providers and Users of PaaS, SaaS, and Other Services– The robotic process automation helps SaaS companies improve the customer experience through removing repetitive tasks and creating more innovative teams. Hence, it is predicted to boost the growth of the market over the forecast period. There were more than 24,000 number of SaaS organizations present in the year 2021 across the world.
  • Rising Utilization of RPA in Diverse Applications – The RPA has been utilized in different sectors in order to reduce cost and provide the best quality service. Hence, it is predicted to increase the growth of the global robotic process automation market. The RPA application in the healthcare sector can reduce more than 50 percent of the cost that includes billing process, appointment scheduling, inventory and supply chain management, optimized regulatory compliance, insurance claim management, and others according to the recent estimates.

Challenges

  • Some Organizations are Still Reluctant to Switch to Automated Processes

There is a significant financial need to transform the traditional process into an automated process. Moreover, all the labors are not able to adopt the new technologies, so they are hesitant to use the new technologies in their processes. In addition, the automated processes keep on changing with the advancement, and the adaptability is not easy. Therefore, it is expected to restrain the growth of the global market in the upcoming years.

  • Difficult to Automate the Non-Standard Processes
  • Add Complexity to the Processes

Robotic Process Automation Market: Key Insights

Base Year

2024

Forecast Year

2025-2037

CAGR

37.3%

Base Year Market Size (2024)

USD 4.06 billion

Forecast Year Market Size (2037)

USD 245.26 billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Robotic Process Automation Segmentation

Industry (Finance, Retail, Healthcare, BFSI, Manufacturing, IT & Telecom)

The global RPA market is segmented and analyzed for demand and supply by industry into finance, retail, healthcare, BFSI, manufacturing, it & telecom, and others. Out of these, the BFSI segment is expected to hold the largest share over the forecast period on the back of the rising need to reduce errors through automating business processes at the financial institutions such as deposits, account opening, and others. Moreover, there has been a surge in the adoption of RPA in BFSI organizations, that is further expected to boost the growth of the segment in the market. In addition, the need to automate the business processes in order to increase the work speed and efficiency, is another factor that is projected to rise the segment’s growth in the market. More than 60 percent of the finance organizations around the world have already piloted or actively using robotic process automation according to the estimated.

Organization (Large Enterprises, SMEs)

The global robotic process automation market is also segmented and analyzed for demand and supply by organization into large, and small & medium organization. Among these, the large organization is expected to have a significant share over the forecast period owing to the rising deployment of RPA by the large enterprise in order to reduce costs occurring owing to human errors in the processes. Furthermore, more time is wasted on traditional activities that increase the time for taking decisions. Therefore, it is anticipated to drive the growth of the large organization segment in the market.

Our in-depth analysis of the global market includes the following segments:

          By Industry

  • Finance
  • Retail
  • Healthcare
  • BFSI
  • Manufacturing
  • IT & Telecom
  • Others

          By Solution

  • Software
  • Service

          By Organization

  • Large Organization
  • Small & Medium Organization

          By Deployment Mode

  • Cloud
  • On-Premise

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Robotic Process Automation Industry - Regional Synopsis

North American Market Forecast

The RPA market in North America is projected to be the largest with a share of about 29% by the end of 2037. The growth of the market can be attributed majorly to the presence of major innovators, and players in the region. Moreover, the RPA has been increasingly adopted by organizations, and the government agencies is further expected to increase the growth of the market in the region. In addition, government initiatives to increase the adoption of RPA among the various industries are also predicted to expand the market’s growth in the region. Since the Administration's inception, the largest 24 Federal agencies have implemented more than 100 initiatives to reduce administrative burden and direct more resources towards agency missions, resulting in billions of dollars in realized and anticipated savings and the reallocation of hundreds of thousands of full-time equivalent employee hours to higher-value work. Among these initiatives are more than 50 focused on process improvement and standardization, as well as approximately 30 utilizing artificial intelligence, robotic process automation, and other innovative software.

Europe Market Forecast

The European robotic process automation market is estimated to be the second largest, registering a share of about 24% by the end of 2037. The growth of the market can be attributed majorly to the surging enterprises efforts to improve the customer experience. Furthermore, the European region is the leader in the automobile industries, which have a great demand for automation. Additionally, there is a need for taking the right decision at the right time in the automobile sector, thus improved data analysis is required. Therefore, it is predicted to increase the growth of the market in the region.

APAC Market Statistics

Further, the RPA market in the Asia Pacific is projected to have the fastest growth by the end of 2037. The growth of the market can be attributed majorly to the growing popularity of digital transformation, and automation in countries such as China, Japan, and others. Moreover, the surging demand for automation solutions in different organization in the Asia Pacific region is estimated to rise the market’s growth in the region.

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Robotic Process Automation Market Regional
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Companies Dominating the Robotic Process Automation Landscape

    • Microsoft Corporation
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • OnviSource, Inc.
    • Automation Anywhere, Inc.
    • Pegasystems Inc.
    • NICE LTD.
    • UiPath Inc.
    • Blue Prism Limited
    • WorkFusion, Inc.
    • Kryon Systems
    • FPT Software Company, Ltd.

In the News

  •  Pegasystems Inc. announced the launch of Robot Studio, robotic process automation (RPA) low-code authoring environment for Pega's intelligent automation platform.

  • OnviSource, Inc. announced the expansion of its Automata Robotics Process Automation solution with a new code new platform known as Orchestra that is powered by company’s new proprietary artificial intelligence engine, iMachine 2.0.

 

 

Author Credits:  Abhishek Verma


  • Report ID: 4814
  • Published Date: Oct 14, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of robotic process automation is assessed at USD 5.28 billion.

The robotic process automation market size was valued at USD 4.06 billion in 2024 and is set to reach USD 245.26 billion by the end of 2037, expanding at around 37.3% CAGR during the forecast period i.e., between 2025-2037. Growing awareness of cloud computing, rising utilization of RPA in diverse applications, and rising adoption digital assistants will boost the market growth.

North America industry share is projected to cross 29% by 2037, due to presence of major innovators, and players in the region.

The major players in the market include Microsoft Corporation, OnviSource, Inc., Automation Anywhere, Inc., Pegasystems Inc., NICE LTD., UiPath Inc., Blue Prism Limited, WorkFusion, Inc., Kryon Systems, FPT Software Company, Ltd.
Robotic Process Automation Market Report Scope
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