Robotic Process Automation (RPA) Market Size By Service (Training & Consulting Services, Professional Services), By Tool (Model-based, Process-based), By Organization Size (SMEs, Large Enterprises), By Solution (Automated, Decision & Management Support, Interaction), By Operation (Rule-Based, Knowledge-Based), By Application (BFSI, IT & Telecom, Healthcare, Manufacturing, Retail, Transportation, Energy & Utilities, Others), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Dec 2020  |  Report ID: GMI2035  |  Authors: Preeti Wadhwani, Prasenjit Saha

Report Format: PDF   |   Pages: 200   |   Base Year: 2016




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Robotic Process Automation Market size exceeded over USD 2 billion in 2019 and is estimated to witness around 40% CAGR from 2020 to 2026. Rising demand for automating processes with less human intervention is fueling the RPA market growth potential.
 

Rising demand for RPA in the BFSI industry is likely to create more market opportunities during the forecast period. The BFSI industry uses RPA software for automating new account entries, financial report generation, loan approval process, and auditing support & validation process. For instance, in July 2020, Deutsche Bank’s corporate division in China onboarded Blue Bot ‘Yi’, a first digital employee to allocate the employee ID number, work on email addresses, and handling financial reports, supporting the industry trend.
 

Robotic Process Automation Market

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Several market factors challenging the industry growth include lack of experienced employees for the implementation of RPA software within an organization. RPA is one of the advanced industrial practices integrated with natural language processing, machine learning, and AI technologies to apply rule-based and time-consuming business processes. Practical implications of RPA software increase the ROI of the organization; hence, RPA providers arrange training and consultation services for the small- and large-scale businesses to develop and acquire new skill set related to RPA.
 

The global RPA market is poised to see a provisional stoppage due to the spread of the COVID-19 in the world. With the rising number of cases in early 2020, many businesses are experiencing financial losses and immediate disruption in the supply chain management, hampering the industry growth. However, to increase the market share, many industry players are focusing on acquiring small businesses, new product development, product launches, and partnerships with government organizations.
 

For instance, in May 2020, Kryon, one of the providers of RPA software partnered with Bank of Jerusalem to offer financial services to customers during the COVID-19 pandemic.
 

Robotic Process Automation (RPA) Market Report Coverage
Report Coverage Details
Base Year: 2016 Market Size in 2016: USD 2 Billion
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 40% 2026 Value Projection: USD 23 Billion
Pages: 200 Tables, Charts & Figures: 353
Geographies covered (18): U.S., Canada, UK, Germany, France, Italy, Russia, China, India, Japan, Australia, Malaysia, Singapore, Brazil, Mexico, Saudi Arabia, UAE, South Africa
Segments covered: Service, Tools, Organization Size, Solution, Operation, Application
Companies covered (15): Automation Anywhere, Blue Prism Limited, EdgeVerve Systems Limited, HelpSystems, Ipsoft Inc., KOFAX Inc, Kryon Systems, Nice Systems, NTT Data Inc., Pegasystems Inc., Redwood Software, Rocket Software Inc., Softomotive, UiPath, WorkFusion
Growth Drivers:
  • High demand to minimize operational cost across business in North America
  • Increasing demand for RPA across BFSI and IT & telecom industries in Asia-Pacific
  • Rising collaboration and partnership activities with government to develop public sectors in Europe
  • Increasing demand for automation in oil & gas industries in MEA
  • Rising BPO industry in Latin America
Pitfalls & Challenges:
  • High cost associated with the technology
  • Lack of awareness regarding RPA in underdeveloped and emerging economies

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Proliferation of process-based tools for business process improvement

The process-based segment in Europe is set to expand at a CAGR of more than 38% through 2026. Increasing demand to improve business operations such as non-voice processes across enterprises provide opportunities to the process-based tools segment in the industry. Use of such technological solutions across the industries provide efficiency in terms of speed as well as operations.
 

Rising demand for advanced software in the market

Europe Robotic Process Automation Market Share

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The rule-based operation segment holds over 65% of the robotic process automation market share in Europe. Organizations across the globe are increasingly focusing on systematizing the rule-based operations making use of the advanced software solutions. These solutions are applied to the systems such as ERP, databases and workflow management. Increasing adoption of these solutions will proliferate the industry.
 

Growing trend of process-as-a-service driving the professional segment

The RPA market from professional services is projected to observe significant growth during 2020 to 2026 owing to the rising trend of business process-as-a-service. This provides an opportunity for professional services firms to harness the potential of automation for high operational efficiency. Increasing demand for service providers with adequate technical expertise to properly manage the facilities will support the RPA professional service segment.
 

Increasing demand for automated processes will propel the RPA solutions market

The Europe automated solutions segment is likely to register a growth rate of around 43% till 2026. Automated solutions, such as handling customer queries, sending & responding to messages, are increasing the use of RPA software in various end-use industries. The solutions help companies to automate the basic activities and help in focusing on their core competencies to simplify various tasks.
 

In July 2020, Pega Systems launched X-ray Vision, self-healing RPA to find and fix the broken bots without human help. The new software provides AI-powered deep robotics capabilities to make robots durable and faster.
 

Increasing adoption of RPA Software in SMEs

In 2019, SMEs accounted for above 35% market share in North America. Due to high market price of software, only large enterprises were able to afford RPA software and their supportive services. In recent technological shift, many software providers developed RPA software for small-scale businesses to increase operational efficiency and automate their processes.
 

BFSI is expected to capture the largest robotic process automation market share

The BFSI application in North America is predicted to achieve growth rate of more than 40% from 2020 to 2026. The RPA software is helping to automate various banking processes such as customer verification, form processing, claim processing, customer on-boarding, data management, loan processing, and compliance maintenance. Many leading banks in India had implemented RPA software in their financial processes.
 

North America is poised to dominate the RPA market

North America Process Automation Market Size

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The North America market valued at USD 900 million in 2019 and is estimated to grow at 40% CAGR through 2026. The presence of major global market players such as UiPath, Automation Anywhere, and Pegasystems Inc. will create market opportunities for small, medium, and large-scale businesses in the region to automate their businesses with low operational costs.
 

Increasing investments in RPA by the U.S. government are expected to contribute to the growing market demand. In October 2020, SOS International LLC partnered with UiPath to automate repetitive and high-volume business processes to drive the critical U.S. government mission-oriented projects such as collection of data from the battlefield.
 

In this process, UiPath was offered end-to-end hyper-automation platform to accelerate the technology development lifecycle to rapidly scale the RPA across the organization. Moreover, many AI capabilities such as natural language processing and natural language understanding also offered by the company to provide accurate and sophisticated analytics to understand the business impacts.
 

Industry players focusing on partnerships, M&A strategies with software manufacturers to enhance the market share

RPA providers are engaged in developing effective software to meet the growing demand of consumers. Companies are focused on developing advanced software and bots and integrate with the latest technologies such as AI to fulfill the demands of SMEs and large organizations. For instance, In September 2020, Kofax Inc., launched intelligent automation platform with low-code capabilities and AI-powered document intelligence.
 

In another instance, in August 2020, HelpSystems partnered with ancora Software to increase the comprehensive automation software offerings with the help of AI and machine learning capabilities. This partnership helped in handling complex processes and repetitive individual tasks across the organization.
 

The key market players operating in the robotic process automation market include UiPath, Automation Anywhere, Blue Prism, Pegasystems, Nice Systems, Kofax Inc., NTT Data Inc, HelpSystems, Rocket Software, Inc., and EdgeVerve, among others.
 

This market research report on robotic process automation (RPA) includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2020 to 2026 for the following segments:
 

Market, By Service

  • Training & consulting services
  • Professional services

Market, By Tool

  • Model-based
  • Process-based

Market, By Organization Size

  • SMEs
  • Large enterprises

Market, By Solution

  • Automated
  • Decision and management support
  • Interaction

Market, By Operation

  • Rule-based
  • Knowledge-based

Market, By Application

  • BFSI
  • IT & Telecom
  • Healthcare
  • Manufacturing
  • Retail
  • Transportation
  • Energy & utilities
  • Others

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • Malaysia
    • Singapore
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • South Africa
    • Saudi Arabia
    • UAE
       

Frequently Asked Questions (FAQ) :

Robotic process automation industry share was valued at more than USD 2 billion in 2019 and is poised to grow at 40% CAGR through 2026 owing to increasing demand to automate the process with less human intervention.
The process-based segment in Europe is estimated to grow at over 38% CAGR through 2026 attributed to the rising demand for improving business operations across enterprises.
The rule-based operation segment captured more than 65% of Europe robotic process automation market share and is anticipated to record substantial gains in the coming years.
The Europe automated solutions segment is expected to grow at a nearly 43% rate through 2026 as these solutions help organizations to automate the basic activities and focus on their core activities.
North America BFSI application segment is set to grow at over 40% rate through 2026 as robotic process automation software helps in automating various banking processes.

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Premium Report Details

  • Published Date: Dec 2020
  • Pages: 200
  • Tables: 332
  • Charts / Figures: 21
  • Companies covered: 15
  • Countries covered: 18

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