Market Size of Asia-Pacific Robotic Process Automation Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 34.80 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
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APAC Robotic Process Automation (RPA) Market Analysis
The Asia-Pacific Robotic Process Automation Market will register a CAGR of 34.8% during the forecast period. Robotic process automation deals with implementing smart software to perform high-volume and repetitive tasks that usually take a lot of time to achieve for humans and are generally monotonous to execute on the market for robotic process automation.
- The robotic process automation (RPA) market is expected to grow in Asian countries owing to increasing focus on and adoption of a digital workforce and rising functional benefits of RPA solutions for business process automation across various end-user industries.
- RPA adoption in the region is fueled by the need to automate intricate business processes across various industries, the convenience of doing business, and the falling costs of automation software and services.
- Vendors in the market are improving their products by including new features in Citrix automation, automation lifecycle management, workload management, credential management, SLA-based automation, and new data APIs. These improvements are drawing in new sectors of industry that demand more operational and security capabilities.
- Moreover, the adoption rate of RPA in enterprises facing challenges and inefficiencies with legacy systems is rising. The benefits offered by the SPA not only increase the organization's productivity but also enable them to focus on its core business activities.
- There will be data security concerns such as data breaches; social engineering attacks are the primary medium used by attackers to gain access to sensitive data might hamper the market.
- With the outbreak of COVID-19, the robotic process automation market is had witnessed significant growth, owing to an increased usage of robotic process automation solutions by an increase in social distancing norms.