Robotic Process Automation Market Size

Report on Industry Size & Market Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Global RPA Market Statistics, Forecast and is segmented by Deployment Mode (On-premise and Cloud), Solution (Software and Service), Size of Enterprise (Small and Medium Enterprises and Large Enterprises), End User Industry (IT and Telecom, BFSI, Healthcare, Retail, Manufacturing), and Geography. The market sizes and forecasts are provided in terms of value (USD billion) for all the above segments.

Robotic Process Automation Market Size

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Robotic Process Automation Market Summary
Study Period 2021 - 2029
Market Size (2024) USD 4.02 Billion
Market Size (2029) USD 14.75 Billion
CAGR (2024 - 2029) 29.70 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Robotic Process Automation Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Robotic Process Automation Market Analysis

The Robotic Process Automation Market size is estimated at USD 4.02 billion in 2024, and is expected to reach USD 14.75 billion by 2029, growing at a CAGR of 29.70% during the forecast period (2024-2029).

RPA adoption is increasing across organizations of all sizes to generate greater Return on Investment (ROI) and boost productivity. Major market players are launching new Robotic Process Automation (RPA) solutions based on AI, machine learning, and cloud models to help meet the increasing demand.

  • Robotic process automation (RPA), also known as intelligent automation or smart automation, is a general term for cutting-edge technologies that can be programmed to carry out a variety of tasks that previously required human intervention, such as data manipulation, setting off reactions, and establishing necessary communication with other processes and systems. Vendors in the market are also improving their products by including new capabilities like automation lifecycle management, workload management, SLA-based automation, credential management, and Citrix automation, in addition to new data APIs. These improvements are drawing in new sectors of industry that require more operational and security capabilities.
  • The rising use of cutting-edge technologies like AI, machine learning, and the cloud will primarily fuel the robotic process automation market growth. More and more businesses are adopting RPA to automate business processes and handle increasingly complex data. Companies are developing and deploying cloud and AI-based RPA solutions to automatically optimize business processes and workflow. The increase in the adoption of Artificial Intelligence and cloud-based solutions for internal efficiency among SMEs is thriving the market growth. According to Vistage, among the 13.6% of SMBs leveraging AI, a significant share is using it to improve business operations, followed by customer engagement.
  • The expanding use of SaaS, IaaS, and PaaS services for customer relationship management, cloud computing, enterprise resource management, open source resources, cooperative robot learning, network connectivity, and other financial applications is also creating a market for RPA solutions. RPA's functional advantages in various end-user industries, including IT and telecom, BFSI, healthcare, and retail, fuel the market's expansion. It is anticipated that the growing trend toward cloud-based solutions and the growth of robot-based solutions across a range of end-user industries will open up new potential for the construction of robotic process automation worldwide.
  • RPA boosts output and revenue but also confronts risks that could cost millions. Two significant security threats associated with robotic process automation are data loss and theft. If the proper security measures are not in place, sensitive data, such as RPA bot passwords or consumer data handled by RPA, may be exposed to attackers, which could stifle the market.
  • COVID-19 has negatively impacted the robotic process automation market and witnessed significant growth, owing to an increased usage of automated process automation solutions and increased social distancing norms, which will continue soon. Also, the human resource crunch observed by enterprises in industries is expected to further influence the adoption of RPA during the next two years, thus, driving the demand for such solution vendors. The industry continues to expand as software robots are used to manage regular tasks performed by temporary or seasonal workers and for staff peaks caused by regulatory spikes, new product launches, or new operations.

Robotic Process Automation Market Trends

This section covers the major market trends shaping the Robotic Process Automation Market according to our research experts:

Retail Sector to hold major share in RPA Market

  • Returns processing, workflow management, customer support management, accounting and finance, ERP management and marketing, and consumer behavior analysis are some of the applications in the retail sector, with RPA playing an important role. It has been estimated that more than USD 2 trillion can be saved in a global workforce by automating almost half of human tasks, especially in an emerging industry like retail.
  • The rise in business operational adjustments brought on by the pandemic-induced work-from-home trend is one of the major drivers of the robotic automation market expansion in the retail industry. The industry also benefits from using cognitive technologies and modifying internal business procedures across organizations.
  • Rapid growth in the e-commerce industry is an essential factor adding to the growth of the RPA market. Online sales in the United States are expected to double, by 2023, reaching approximately 20 to 25% of the overall retail sector. According to The Census Bureau of the Department of Commerce, the estimate of US retail e-commerce sales for the third quarter of 2022, adjusted for seasonal variation, was USD 251.7 billion. Within the United Kingdom (UK), retail plays a vital role in shaping the economy and employs nearly 3 million people.
  • Along with adopting innovative practices to attract and engage more customers, the players in the retail industry have been using newer technologies for retail automation to smoothen their processes and gaining a growth momentum to counter various challenges. The growing number of warehouses is making the retail sector use robotic process automation to do tasks more efficiently and effectively. A study by Zebra Technologies on the trends in the retail industry revealed that around 75% of retailers are expected to adopt automation across all critical functions by 2023.
Global Retail Automation Market size in USD Billions, 2021-2025

United States Expected to Hold Significant Market Share

  •  Among the leading innovators and pioneers in adopting robotics, The United States is one of the largest markets. Robot use in the region continues to grow, helping make US companies more competitive and leading to new job growth. Further, according to the Robotic Industries Association (RIA), the most significant driver of the year-to-date growth of industrial robots was an 83% increase in units purchased by automotive OEMs for process automation.
  • According to the Association for Advancing Automation, over 180,000 robots have been dispatched to various American companies since 2010, and more than 1.2 million new manufacturing jobs have been created during this time. According to MIT, automotive manufacturing accounted for a significant portion of the demand for industrial robots in the United States, followed by electronic, plastics, and chemical manufacturing. It is anticipated to augment robotic process automation (RPA) growth.
  • The increasing initiatives by the government and regulated authorities to boost the adoption of RPA across various industries are expected to fuel market growth over the forecast period. According to UiPath, more than 30 agencies in the region are using its RPA to eliminate compliance issues, improve throughput, and reduce their backlogs.
  • Several government organizations and private companies are investing in creating conversational RPA chatbots for automating their processes. For instance, the National Science Foundation (NSF) Organization has created an RPA bot that automates messages and helps to remind people about upcoming public meetings. Since the NSF organization holds several thousand meetings annually, and the RPA bot helps save over 25,000 hours for the administrative staff.
Robotic Process Automation Market - Growth Rate by Region

Robotic Process Automation Industry Overview

The robotic process automation market is low consolidated with a few players such as Automation Anywhere Inc, Jafada, Kofax, etc., as various acquisitions and collaborations of large companies are expected to occur shortly. Some of the Key developments in this market are:

  • In November 2022, Fabric, a retail fulfillment automation company, and Reply, which specializes in new communications channels and digital media, entered into a strategic partnership to offer brands and retailers seamless integration to a single-point solution for a warehouse management system and automated robotic fulfillment.
  • In October 2022, Automation Anywhere, a robotic process automation vendor, unveiled its Automation Success Platform with new robotic process automation tools for process discovery and document processing. This successful platform lets enterprises automate all aspects of their business operations.

Robotic Process Automation Market Leaders

  1. Automation Anywhere Inc.

  2. Blue Prism Group PLC

  3. Jacada Inc.

  4. Kofax Inc.

  5. Datamatics Global Services Limited

*Disclaimer: Major Players sorted in no particular order

Robotic Process Automation Market Concentration
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Robotic Process Automation Market News

  • September 2022 - UiPath, a leading enterprise automation software company, strengthened its partnership with Snowflake, the Data Cloud company, by launching a new bi-directional integration that extends the value of automation across the enterprise. UiPath and Snowflake enable joint customers to design and build workflows based on 360-degree views of trusted and accessible data on Snowflake's platform. By leveraging the Snowflake Data Cloud, UiPath robots can quickly connect data directly to business processes in the Data Cloud without using complex code, speeding up time to value.
  • August 2022 - Digital Workforce Services partnered with Keva, formerly Municipal Pension Insurance, to deliver a robotic process automation solution that was selected in a public procurement procedure. As part of the solution, the robotic process automation solutions in production were moved from the current environment used by Keva to Digital Workforce's cloud service. The service includes solution maintenance, management, and support services. In addition, Digital Workforce offers professional services to Keva.

Robotic Process Automation Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness - Porter Five Forces

      1. 4.2.1 Bargaining Power of Suppliers

      2. 4.2.2 Bargaining Power of Consumers

      3. 4.2.3 Threat of New Entrants

      4. 4.2.4 Intensity of Competitive Rivalry

      5. 4.2.5 Threat of Substitutes

    3. 4.3 Impact of COVID-19 on the industry

    4. 4.4 Market Drivers

      1. 4.4.1 Retail Sector to hold major share in RPA Market

      2. 4.4.2 Adoption of AI- and Cloud-based Solutions for Internal Efficiency among SMEs

    5. 4.5 Market Restraints

      1. 4.5.1 Data Security Concerns

  5. 5. MARKET SEGMENTATION

    1. 5.1 Deployment

      1. 5.1.1 On-premise

      2. 5.1.2 Cloud

    2. 5.2 Solution

      1. 5.2.1 Software

      2. 5.2.2 Service

    3. 5.3 Size of Enterprise

      1. 5.3.1 Small and Medium Enterprises

      2. 5.3.2 Large Enterprises

    4. 5.4 End User Industry

      1. 5.4.1 IT and Telecom

      2. 5.4.2 BFSI

      3. 5.4.3 Healthcare

      4. 5.4.4 Retail

      5. 5.4.5 Manufacturing

      6. 5.4.6 Other End User Industries

    5. 5.5 Geography

      1. 5.5.1 North America

      2. 5.5.2 Europe

      3. 5.5.3 Asia Pacific

      4. 5.5.4 Latin America

      5. 5.5.5 Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles*

      1. 6.1.1 Automation Anywhere Inc.

      2. 6.1.2 Blue Prism Group PLC

      3. 6.1.3 Jacada Inc.

      4. 6.1.4 Pegasystems Inc.

      5. 6.1.5 UIPath Inc.

      6. 6.1.6 Kofax Inc. (Thoma Bravo LLC)

      7. 6.1.7 Be Informed BV (Hoogenberg Beheer BV)

      8. 6.1.8 Datamatics Global Services Limited

      9. 6.1.9 AutomationEdge Technologies Inc.

      10. 6.1.10 Jidoka

      11. 6.1.11 HelpSystems LLC (HGGC)

      12. 6.1.12 Nice Robotic Automation Ltd

      13. 6.1.13 CGI Inc.

  7. 7. INVESTMENT ANALYSIS

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
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Robotic Process Automation Industry Segmentation

RPA is an application technology that uses software with artificial intelligence and machine learning capabilities for handling high-volume, repeatable tasks. It allows employees to configure and program any computer software or robot to interpret existing organizational applications for manipulating data, processing transactions, and communicating with digital systems. The RPA is similar to traditional IT automation. Still, the significant difference between these technologies is that RPA can learn and adapt to changing circumstances, which a conventional IT automation system lacks.

The Robotic Process Automation Market is segmented by Deployment Mode (On-premise and Cloud), Solution (Software and Service), Size of Enterprise (Small and Medium Enterprises and Large Enterprises), End User Industry (IT and Telecom, BFSI, Healthcare, Retail, Manufacturing), and Geography. The market sizes and forecasts are provided in terms of value (USD billion) for all the above segments.

Deployment
On-premise
Cloud
Solution
Software
Service
Size of Enterprise
Small and Medium Enterprises
Large Enterprises
End User Industry
IT and Telecom
BFSI
Healthcare
Retail
Manufacturing
Other End User Industries
Geography
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
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Robotic Process Automation Market Research FAQs

The Robotic Process Automation Market size is expected to reach USD 4.02 billion in 2024 and grow at a CAGR of 29.70% to reach USD 14.75 billion by 2029.

In 2024, the Robotic Process Automation Market size is expected to reach USD 4.02 billion.

Automation Anywhere Inc., Blue Prism Group PLC, Jacada Inc., Kofax Inc. and Datamatics Global Services Limited are the major companies operating in the Robotic Process Automation Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Robotic Process Automation Market.

In 2023, the Robotic Process Automation Market size was estimated at USD 3.10 billion. The report covers the Robotic Process Automation Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the Robotic Process Automation Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Key factors driving the Robotic Process (RPA) Market are: a) Need for businesses to increase efficiency b) Reduce operational costs c) Improve accuracy d) Enhance customer experience

Robotic Process Automation Industry Report

The Global Robotic Process Automation (RPA) Market is witnessing remarkable growth, fueled by the integration of advanced technologies like Artificial Intelligence (AI), machine learning (ML), and cloud computing, which are significantly enhancing Robotic process automation (RPA) capabilities. This surge in adoption is enabling businesses across sectors such as healthcare, Banking, Financial Services and Insurance (BFSI), IT and telecom, retail, and manufacturing to automate complex operations and efficiently manage vast data volumes, thereby boosting productivity, optimizing performance, and ensuring higher return on investment. The increasing trend toward digital transformation is further propelling market expansion, as companies aim to streamline processes and improve customer experiences. Key players are innovating and entering strategic partnerships to increase their robotic process automation market share. This growth is captured in the latest robotic process automation report by Mordor Intelligence™, offering insights into the market size, share, revenue growth rate, and a forecast outlook, underscoring RPA's role in driving digital innovation across industries. Access a free report PDF download for a comprehensive market analysis and forecast.

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Robotic Process Automation Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)