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The robotic process automation market has undergone significant expansion, increasing from $5.70 billion in 2023 to $7.28 billion in 2024, showcasing an impressive compound annual growth rate (CAGR) of 27.8%. Rising adoption of automation by small and medium enterprises, growing demand for software robots, favorable digital infrastructure, increased investment in industrial automation, and general uptick in automation adoption across sectors drove this historic growth. Looking ahead, the robotic process automation market is expected to experience exponential growth, projected to reach $19.33 billion by 2028, with a CAGR of 27.6%. Factors include increasing demand for business process automation, proliferation of Industry 4.0 trends, use of RPA for regulatory reporting in the BFSI sector, expansion of the retail industry, and need for cost-effective and efficient business processes. Major trends include advancements in technology, development of RPA-enabled self-learning conversational chatbots, integration of new technologies with RPA software, incorporation of advanced technologies like cloud computing, AI, and machine learning, as well as rising adoption of intelligent bots and digital assistants.

The surging demand for automation across diverse industries is poised to drive the growth of the robotic process automation (RPA) market, as advancements in artificial intelligence, robotics, and sensor technology make automation increasingly accessible and cost-effective. RPA specializes in automating repetitive, rule-based tasks to enhance operational efficiency. Data from September 2022, reported by the International Federation of Robotics, indicated a significant increase in global installations of industrial robots, reaching 517,385 units in 2021 compared to 394,000 in 2020, with Asia leading the surge with a remarkable 51% growth. Consequently, the escalating demand for automation across industries is fueling the expansion of the robotic process automation market, emphasizing its pivotal role in enhancing operational efficiency and productivity.

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What Are The Key Trends That Influence Robotic Process Automation Market Share Analysis?

Major companies in the robotic process automation market are developing advanced innovations, such as automation success platforms, to better serve customers. These platforms facilitate the automation of various processes and tasks within organizations. For instance, in October 2022, Automation Anywhere Inc., a US-based software company, launched the automation success platform. This platform aims to accelerate business transformation by democratizing automation, making it accessible to all. It delivers intelligent automation to every employee, empowering both IT and automation leaders to scale success effectively. It serves as an automation co-pilot for employees, enabling seamless interaction with bots within their preferred applications, facilitating easier and faster task completion. The platform introduces new document automation, simplifying data extraction from documents and seamless transfer into any application.

Which Market Players Are Driving Growth In The Robotic Process Automation Market?

Major companies operating in the robotic process automation market report are Microsoft Corporation, International Business Machines Corporation, Salesforce Inc., Xerox Corporation, Nice Systems Ltd., FPT Software, Pegasystems Inc., UiPath Inc., Verint Systems Inc., EdgeVerve Systems Ltd., BlackLine, Automation Anywhere, IPSOft Inc., NTT Advanced Technology Corp., Nintex Ltd., Kofax Inc., SS&C Blue Prism, AntWorks, Redwood Software, Kryon Systems, Another Monday, AutomationEdge, WorkFusion Inc., OnviSource Inc., Celaton Ltd., JIDOKA.be, Automation Hero

How Is The Global Robotic Process Automation Market Segmented?

The robotic process automation market covered in this report is segmented –

1) By Component: Software, Service
2) By Process: Automated Solution, Decision Support and Management Solutions, Interaction Solutions
3) By Operation: Rule Based, Knowledge Based
4) By Deployment : Cloud, On-Premises
5) By Industry: Banking, Financial Services And Insurance, Healthcare And Pharmaceuticals, Manufacturing And Logistics, Telecom And Information Technology, Retail And Consumer Goods, Travel, Hospitality And Transportation, Other Industries

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The Robotic Process Automation Global Market Report 2024 provides an overview of the robotic process automationmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The robotic process automation market forecast analyzes robotic process automation market size, robotic process automation market share, leading competitor and their market positions.

The Table Of Content For The Robotic Process Automation Market Include

1. Robotic Process Automation Market Executive Summary
2. Robotic Process Automation Market Segments
3. Robotic Process Automation Market Size And Template Market Growth Rate
4.  Key Robotic Process Automation Market Trends
5. Major Robotic Process Automation Market Drivers
……
25. Key Mergers And Acquisitions In The Robotic Process Automation Market
26. Top Robotic Process Automation Companies
27. Robotic Process Automation Market Opportunities And Strategies
28. Robotic Process Automation Market, Conclusions And Recommendations
29. Appendix

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