Robotic process automation market 2023-2027 – Technavio

NEW YORK, Oct. 26, 2023 /PRNewswire/ — According to Technavio, the global robotic process automation market size is estimated to grow by USD 16,628.29 million from 2022 to 2027. The market is estimated to grow at a CAGR of 35.83% during the forecast period. Moreover, the growth momentum will accelerate. North America will account for 44% of the market’s growth during the forecast period. The report provides a comprehensive analysis of growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market. For more Insights on market size, Request a sample report

Global robotic process automation market – Five forces
The global robotic process automation market is fragmented, and the five forces analysis covers– 

Bargaining power of buyers The threat of new entrantsThreat of rivalryBargaining power of suppliersThreat of substitutesFor an interpretation of Porter’s five forces model – buy the report!

Global robotic process automation market – Customer landscape 

The report includes the market’s adoption lifecycle, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global robotic process automation market – Segmentation assessment

Segment overview
Technavio has segmented the market based on type (services and software) and end-user (BFSI, IT/ITES, telecom, logistics, and others). 

The services segment will account for a significant share of the market’s growth during the forecast period. This segment includes consulting, implementing, and training services. Service providers are improving their consulting, training, and advising offerings due to intense rivalry in the market. Continuous improvements in automation services that offer high scalability while minimizing costs have increased the demand for RPA.

Geography overview
Based on geography, the global robotic process automation market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global robotic process automation market.

North America is estimated to account for 44% of the growth of the global market during the forecast period. Industries in the region focus on improving cognitive automation throughout their business operations with the help of RPA. The adoption of RPA is expected to increase, as industries are focusing on transforming their business operations. The optimization, transformation, and transition in industries are expected to increase the adoption of RPA during the forecast period

Download a sample report

Global robotic process automation market – Market dynamics
Key factor driving market growth

Improved cost savings for businesses are driving the growth of the market.Industries are focusing on optimizing operational costs, which include the reduction of manual labor.The implementation of RPA ensures a high return on investments, and its cost is lower than the procurement of industrial workers with different skill sets.RPA can be easily integrated with different business applications, which allows industries to reduce the overhead cost related to manpower.With the help of RPA, industries can expand their working capabilities with more flexibility.They can manage business processes at a lower cost by reducing expenses in procuring on-shore and off-shore manpower.Such factors will fuel the market growth during the forecast period.

Leading trends influencing the market 

Emerging trends in business process transformation are supporting market growth.Various business operations are interlinked with other processes. For instance, robotic process automation plays a major role in service delivery automation.Industries such as banking and financial services focus on timely deliverables and precision.With the integration of robotic process automation, they can process a large amount of data, which enables fast data exchange with a high level of precision.Such factors will further propel the market growth during the forecast period.

Major challenges hindering the market growth

The subscription cost of robotic process automation software is challenging the market growth.The implementation of RPA software includes the price quoted by a third-party vendor.Therefore, the subscription of RPA involves scheduled software updates and maintenance, and the pricing is based on the business model implementation.Several regulatory terms and conditions need to be settled between the end-user and software provider before entering a contract.This can increase the subscription cost or the cost incurred in design and development.In case of conflict, the subscription negotiation has to be renewed, or the business model should be changed, both of which are time-intensive processes that can lead to downtime.This affects the business process and productivity, which may limit the market growth during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this robotic process automation market report?

CAGR of the market during the forecast periodDetailed information on factors that will drive the growth of the robotic process automation market between 2023 and 2027Precise estimation of the size of the robotic process automation market and its contribution to the parent marketAccurate predictions about upcoming trends and changes in consumer behaviorGrowth of the robotic process automation market across North America, Europe, APAC, South America, and Middle East and AfricaA thorough analysis of the market’s competitive landscape and detailed information about vendorsComprehensive analysis of factors that will challenge the growth of robotic process automation market vendors

Gain instant access to 17,000+ market research reports. 

Technavio’s SUBSCRIPTION platform

Related Reports:

The digital process automation market size is expected to increase by USD 8.08 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 15.46%. This report extensively covers digital process automation market segmentation by deployment (on-premises and cloud) and geography (North America, Europe, APAC, MEA, and South America).

The size of the process automation market in Europe is expected to increase by USD 2.43 billion from 2021 to 2026. The report extensively covers segmentation by type (discrete automation and process automation) and geography (Germany, UK, France, and Rest of Europe).

Browse for Technavio’s information technology market reports

Table of contents

1 Executive Summary

1.1 Market overview Exhibit 01: Executive Summary – Chart on Market OverviewExhibit 02: Executive Summary – Data Table on Market OverviewExhibit 03: Executive Summary – Chart on Global Market CharacteristicsExhibit 04: Executive Summary – Chart on Market by GeographyExhibit 05: Executive Summary – Chart on Market Segmentation by TypeExhibit 06: Executive Summary – Chart on Market Segmentation by End-userExhibit 07: Executive Summary – Chart on Incremental GrowthExhibit 08: Executive Summary – Data Table on Incremental GrowthExhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem Exhibit 10: Parent marketExhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition Exhibit 12: Offerings of vendors included in the market definition3.2 Market segment analysis Exhibit 13: Market segments3.3 Market size 20223.4 Market outlook: Forecast for 2022-2027 Exhibit 14: Chart on Global – Market size and forecast 2022-2027 (USD million)Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 (USD million)Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Global robotic process automation market 2017 – 2021Exhibit 18: Historic Market Size – Data Table on Global robotic process automation market 2017 – 2021 (USD million)4.2 Type Segment Analysis 2017 – 2021 Exhibit 19: Historic Market Size – Type Segment 2017 – 2021 (USD million)4.3 End-user Segment Analysis 2017 – 2021 Exhibit 20: Historic Market Size – End-user Segment 2017 – 2021 (USD million)4.4 Geography Segment Analysis 2017 – 2021 Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 (USD million)4.5 Country Segment Analysis 2017 – 2021 Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 (USD million)

5 Five Forces Analysis

5.1 Five forces summary Exhibit 23: Five forces analysis – Comparison between 2022 and 20275.2 Bargaining power of buyers Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 20275.3 Bargaining power of suppliers Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 20275.4 Threat of new entrants Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 20275.5 Threat of substitutes Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 20275.6 Threat of rivalry Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 20275.7 Market condition Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Type

6.1 Market segments Exhibit 30: Chart on Type – Market share 2022-2027 (%)Exhibit 31: Data Table on Type – Market share 2022-2027 (%)6.2 Comparison by Type Exhibit 32: Chart on Comparison by TypeExhibit 33: Data Table on Comparison by Type6.3 Services – Market size and forecast 2022-2027Exhibit 34: Chart on Services – Market size and forecast 2022-2027 (USD million)Exhibit 35: Data Table on Services – Market size and forecast 2022-2027 (USD million)Exhibit 36: Chart on Services – Year-over-year growth 2022-2027 (%)Exhibit 37: Data Table on Services – Year-over-year growth 2022-2027 (%)6.4 Software – Market size and forecast 2022-2027Exhibit 38: Chart on Software – Market size and forecast 2022-2027 (USD million)Exhibit 39: Data Table on Software – Market size and forecast 2022-2027 (USD million)Exhibit 40: Chart on Software – Year-over-year growth 2022-2027 (%)Exhibit 41: Data Table on Software – Year-over-year growth 2022-2027 (%)6.5 Market opportunity by Type Exhibit 42: Market opportunity by Type (USD million)

7 Market Segmentation by End-user

7.1 Market segments Exhibit 43: Chart on End-user – Market share 2022-2027 (%)Exhibit 44: Data Table on End-user – Market share 2022-2027 (%)7.2 Comparison by End-user Exhibit 45: Chart on Comparison by End-userExhibit 46: Data Table on Comparison by End-user7.3 BFSI – Market size and forecast 2022-2027Exhibit 47: Chart on BFSI – Market size and forecast 2022-2027 (USD million)Exhibit 48: Data Table on BFSI – Market size and forecast 2022-2027 (USD million)Exhibit 49: Chart on BFSI – Year-over-year growth 2022-2027 (%)Exhibit 50: Data Table on BFSI – Year-over-year growth 2022-2027 (%)7.4 IT/ITES – Market size and forecast 2022-2027Exhibit 51: Chart on IT/ITES – Market size and forecast 2022-2027 (USD million)Exhibit 52: Data Table on IT/ITES – Market size and forecast 2022-2027 (USD million)Exhibit 53: Chart on IT/ITES – Year-over-year growth 2022-2027 (%)Exhibit 54: Data Table on IT/ITES – Year-over-year growth 2022-2027 (%)7.5 Telecom – Market size and forecast 2022-2027Exhibit 55: Chart on Telecom – Market size and forecast 2022-2027 (USD million)Exhibit 56: Data Table on Telecom – Market size and forecast 2022-2027 (USD million)Exhibit 57: Chart on Telecom – Year-over-year growth 2022-2027 (%)Exhibit 58: Data Table on Telecom – Year-over-year growth 2022-2027 (%)7.6 Logistics – Market size and forecast 2022-2027Exhibit 59: Chart on Logistics – Market size and forecast 2022-2027 (USD million)Exhibit 60: Data Table on Logistics – Market size and forecast 2022-2027 (USD million)Exhibit 61: Chart on Logistics – Year-over-year growth 2022-2027 (%)Exhibit 62: Data Table on Logistics – Year-over-year growth 2022-2027 (%)7.7 Others – Market size and forecast 2022-2027Exhibit 63: Chart on Others – Market size and forecast 2022-2027 (USD million)Exhibit 64: Data Table on Others – Market size and forecast 2022-2027 (USD million)Exhibit 65: Chart on Others – Year-over-year growth 2022-2027 (%)Exhibit 66: Data Table on Others – Year-over-year growth 2022-2027 (%)7.8 Market opportunity by End-user Exhibit 67: Market opportunity by End-user (USD million)

8 Customer Landscape

8.1 Customer landscape overview Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation Exhibit 69: Chart on Market share by geography 2022-2027 (%)Exhibit 70: Data Table on Market share by geography 2022-2027 (%)9.2 Geographic comparison Exhibit 71: Chart on Geographic comparisonExhibit 72: Data Table on Geographic comparison9.3 North America – Market size and forecast 2022-2027Exhibit 73: Chart on North America – Market size and forecast 2022-2027 (USD million)Exhibit 74: Data Table on North America – Market size and forecast 2022-2027 (USD million)Exhibit 75: Chart on North America – Year-over-year growth 2022-2027 (%)Exhibit 76: Data Table on North America – Year-over-year growth 2022-2027 (%)9.4 Europe – Market size and forecast 2022-2027Exhibit 77: Chart on Europe – Market size and forecast 2022-2027 (USD million)Exhibit 78: Data Table on Europe – Market size and forecast 2022-2027 (USD million)Exhibit 79: Chart on Europe – Year-over-year growth 2022-2027 (%)Exhibit 80: Data Table on Europe – Year-over-year growth 2022-2027 (%)9.5 APAC – Market size and forecast 2022-2027Exhibit 81: Chart on APAC – Market size and forecast 2022-2027 (USD million)Exhibit 82: Data Table on APAC – Market size and forecast 2022-2027 (USD million)Exhibit 83: Chart on APAC – Year-over-year growth 2022-2027 (%)Exhibit 84: Data Table on APAC – Year-over-year growth 2022-2027 (%)9.6 South America – Market size and forecast 2022-2027Exhibit 85: Chart on South America – Market size and forecast 2022-2027 (USD million)Exhibit 86: Data Table on South America – Market size and forecast 2022-2027 (USD million)Exhibit 87: Chart on South America – Year-over-year growth 2022-2027 (%)Exhibit 88: Data Table on South America – Year-over-year growth 2022-2027 (%)9.7 Middle East and Africa – Market size and forecast 2022-2027 Exhibit 89: Chart on Middle East and Africa – Market size and forecast 2022-2027 (USD million)Exhibit 90: Data Table on Middle East and Africa – Market size and forecast 2022-2027 (USD million)Exhibit 91: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)Exhibit 92: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)9.8 US – Market size and forecast 2022-2027Exhibit 93: Chart on US – Market size and forecast 2022-2027 (USD million)Exhibit 94: Data Table on US – Market size and forecast 2022-2027 (USD million)Exhibit 95: Chart on US – Year-over-year growth 2022-2027 (%)Exhibit 96: Data Table on US – Year-over-year growth 2022-2027 (%)9.9 UK – Market size and forecast 2022-2027Exhibit 97: Chart on UK – Market size and forecast 2022-2027 (USD million)Exhibit 98: Data Table on UK – Market size and forecast 2022-2027 (USD million)Exhibit 99: Chart on UK – Year-over-year growth 2022-2027 (%)Exhibit 100: Data Table on UK – Year-over-year growth 2022-2027 (%)9.10 China – Market size and forecast 2022-2027Exhibit 101: Chart on China – Market size and forecast 2022-2027 (USD million)Exhibit 102: Data Table on China – Market size and forecast 2022-2027 (USD million)Exhibit 103: Chart on China – Year-over-year growth 2022-2027 (%)Exhibit 104: Data Table on China – Year-over-year growth 2022-2027 (%)9.11 Japan – Market size and forecast 2022-2027Exhibit 105: Chart on Japan – Market size and forecast 2022-2027 (USD million)Exhibit 106: Data Table on Japan – Market size and forecast 2022-2027 (USD million)Exhibit 107: Chart on Japan – Year-over-year growth 2022-2027 (%)Exhibit 108: Data Table on Japan – Year-over-year growth 2022-2027 (%)9.12 Germany – Market size and forecast 2022-2027Exhibit 109: Chart on Germany – Market size and forecast 2022-2027 (USD million)Exhibit 110: Data Table on Germany – Market size and forecast 2022-2027 (USD million)Exhibit 111: Chart on Germany – Year-over-year growth 2022-2027 (%)Exhibit 112: Data Table on Germany – Year-over-year growth 2022-2027 (%)9.13 Market opportunity by geography Exhibit 113: Market opportunity by geography (USD million)

10 Drivers, Challenges, and Trends

10.1 Market drivers10.2 Market challenges10.3 Impact of drivers and challenges Exhibit 114: Impact of drivers and challenges in 2022 and 202710.4 Market trends

11 Vendor Landscape

11.1 Overview11.2 Vendor landscape Exhibit 115: Overview on Criticality of inputs and Factors of differentiation11.3 Landscape disruption Exhibit 116: Overview on factors of disruption11.4 Industry risks Exhibit 117: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered Exhibit 118: Vendors covered12.2 Market positioning of vendors Exhibit 119: Matrix on vendor position and classification12.3 Accenture Plc Exhibit 120: Accenture Plc – OverviewExhibit 121: Accenture Plc – Business segmentsExhibit 122: Accenture Plc – Key newsExhibit 123: Accenture Plc – Key offeringsExhibit 124: Accenture Plc – Segment focus12.4 Advanced Systems Concepts Inc. Exhibit 125: Advanced Systems Concepts Inc. – OverviewExhibit 126: Advanced Systems Concepts Inc. – Product / ServiceExhibit 127: Advanced Systems Concepts Inc. – Key offerings12.5 Amelia US LLC Exhibit 128: Amelia US LLC – OverviewExhibit 129: Amelia US LLC – Product / ServiceExhibit 130: Amelia US LLC – Key offerings12.6 Atos SE Exhibit 131: Atos SE – OverviewExhibit 132: Atos SE – Business segmentsExhibit 133: Atos SE – Key newsExhibit 134: Atos SE – Key offeringsExhibit 135: Atos SE – Segment focus12.7 Automation Anywhere Inc. Exhibit 136: Automation Anywhere Inc. – OverviewExhibit 137: Automation Anywhere Inc. – Product / ServiceExhibit 138: Automation Anywhere Inc. – Key offerings12.8 Cognizant Technology Solutions Corp. Exhibit 139: Cognizant Technology Solutions Corp. – OverviewExhibit 140: Cognizant Technology Solutions Corp. – Business segmentsExhibit 141: Cognizant Technology Solutions Corp. – Key newsExhibit 142: Cognizant Technology Solutions Corp. – Key offeringsExhibit 143: Cognizant Technology Solutions Corp. – Segment focus12.9 Deloitte Touche Tohmatsu Ltd. Exhibit 144: Deloitte Touche Tohmatsu Ltd. – OverviewExhibit 145: Deloitte Touche Tohmatsu Ltd. – Business segmentsExhibit 146: Deloitte Touche Tohmatsu Ltd. – Key offeringsExhibit 147: Deloitte Touche Tohmatsu Ltd. – Segment focus12.10 Genpact Ltd. Exhibit 148: Genpact Ltd. – OverviewExhibit 149: Genpact Ltd. – Business segmentsExhibit 150: Genpact Ltd. – Key newsExhibit 151: Genpact Ltd. – Key offeringsExhibit 152: Genpact Ltd. – Segment focus12.11 Infosys Ltd. Exhibit 153: Infosys Ltd. – OverviewExhibit 154: Infosys Ltd. – Business segmentsExhibit 155: Infosys Ltd. – Key newsExhibit 156: Infosys Ltd. – Key offeringsExhibit 157: Infosys Ltd. – Segment focus12.12 International Business Machines Corp.Exhibit 158: International Business Machines Corp. – OverviewExhibit 159: International Business Machines Corp. – Business segmentsExhibit 160: International Business Machines Corp. – Key newsExhibit 161: International Business Machines Corp. – Key offeringsExhibit 162: International Business Machines Corp. – Segment focus12.13 NICE Ltd. Exhibit 163: NICE Ltd. – OverviewExhibit 164: NICE Ltd. – Business segmentsExhibit 165: NICE Ltd. – Key newsExhibit 166: NICE Ltd. – Key offeringsExhibit 167: NICE Ltd. – Segment focus12.14 Nintex Global Ltd. Exhibit 168: Nintex Global Ltd. – OverviewExhibit 169: Nintex Global Ltd. – Product / ServiceExhibit 170: Nintex Global Ltd. – Key offerings12.15 Pegasystems Inc. Exhibit 171: Pegasystems Inc. – OverviewExhibit 172: Pegasystems Inc. – Product / ServiceExhibit 173: Pegasystems Inc. – Key newsExhibit 174: Pegasystems Inc. – Key offerings12.16 SS and C Technologies Holdings Inc. Exhibit 175: SS and C Technologies Holdings Inc. – OverviewExhibit 176: SS and C Technologies Holdings Inc. – Product / ServiceExhibit 177: SS and C Technologies Holdings Inc. – Key newsExhibit 178: SS and C Technologies Holdings Inc. – Key offerings12.17 UiPath Inc. Exhibit 179: UiPath Inc. – OverviewExhibit 180: UiPath Inc. – Business segmentsExhibit 181: UiPath Inc. – Key offeringsExhibit 182: UiPath Inc. – Segment focus

13 Appendix

13.1 Scope of the report13.2 Inclusions and exclusions checklist Exhibit 183: Inclusions checklistExhibit 184: Exclusions checklist13.3 Currency conversion rates for USUSD Exhibit 185: Currency conversion rates for USUSD13.4 Research methodology Exhibit 186: Research methodologyExhibit 187: Validation techniques employed for market sizingExhibit 188: Information sources13.5 List of abbreviations Exhibit 189: List of abbreviations

About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/robotic-process-automation-market-2023-2027-a-descriptive-analysis-of-five-forces-model-market-dynamics-and-segmentation—technavio-301968135.html

SOURCE Technavio