Robotic Process Automation Market Size & Share Report, Growth, Trends, 2032

Robotic Process Automation Market Insights

According to Zion Market Research, the global Robotic Process Automation Market was worth USD 4.13 Billion in 2023. The market is forecast to reach USD 84.30 Billion by 2032, growing at a compound annual growth rate (CAGR) of 39.8% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Robotic Process Automation Market industry over the next decade.

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Robotic Process Automation Market: Growth Drivers

Increasing use of the internet in the retail sector is majorly driving the global robotic process automation market. Digitalization is paving the way for retailers to broaden their customer base. In the US alone, e-commerce sales grew by almost 16% in 2017 from 2016. The global e-commerce sales in 2017 were USD 2.3 trillion as compared to USD 1.3 trillion in 2014.

A major factor contributing to this growth is the increasing usage of mobile applications for online shopping. Global products and services purchased through mobile were about 60% in 2017 as compared to 52.5% in 2016. Organizations in the retail sector have opted to use automated solutions to handle illegal accounts, update orders, and keep track of shipped goods.

Thus, the retail sector will contribute significantly to the growth of the robotic process automation market during the forecast timeframe. On a contrary, the high initial investment is expected to have an adverse effect on the robotics process automation market growth. Nonetheless, advancements in technology along with developments in various industry sectors may open new avenues for the market in the near future.

Global Robotic Process Automation Market:  Segmentation

The study provides a decisive view of the robotic process automation market by segmenting the market based on by component segment, by end use industry segment and by region. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

By component segment analysis includes software and service. The software segment is anticipated to rise at a substantial rate during the forecast period.

Based on the end-use industry segment, the global robotic process automation market is bifurcated into retail, transportation, BFSI, healthcare, manufacturing, IT & telecom, and others.

The Regional segment includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Robotic Process Automation Market: Regional Analysis

North America holds a substantial share in the global robotic process automation market and is anticipated to maintain its dominance during the analysis period. Increasing usage of robotic process automation for the retail sector along with the rapid advancements in technology are the major drivers for the market in this region.

Robotic Process Automation Market: Report Scope

Further, the presence of prominent market players such as IPsoft Inc., Automation Anywhere, Inc., and many more in the region is anticipated to shape the robotic process automation market massively. The usage of automation processes in the BFSI sector to reduce cost and enhance productivity is the major driving factor for the growth of robotic process automation markets in the Asia Pacific region. The Asia Pacific is projected to grow at a significant rate during the forecast period.

Key Market Players & Competitive Landscape:

Some of the key players in the robotic process automation market are Blue Prism Group Plc, Atos SE, Cognizant, Infosys Ltd., IPsoft, Inc., UiPath Inc., Automation Anywhere Inc., Be Informed B.V., and Jacada, Inc. among others.

The report segments the global robotic process automation market as follows:

Robotic Process Automation Market: Component Segment Analysis

• Software
• Service

Robotic Process Automation Market: End Use Industry Segment Analysis

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

Robotic Process Automation Market: Regional Segment Analysis

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa