Latest News- Robotic Process Automation (RPA) Market: Services is expected to lead the Type segment during 2025-2029

The Robotic Process Automation (RPA) Market is being driven by Improved cost savings for businesses

The Robotic Process Automation (RPA) Market is expected to grow at a CAGR of 42.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 40562.1 million. In today's business landscape, there is a growing emphasis on client-centric processes and reducing human error. To address this need, industries are increasingly adopting Robotic Process Automation (RPA) solutions. RPA enables businesses to automate repetitive tasks, reducing the likelihood of errors caused by judgment-based decisions. This shift towards RPA is a significant trend in business operations, as companies strive for increased depth and quality in their processes. By automating tasks, businesses can improve efficiency, reduce errors, and enhance overall operational excellence. Additionally, RPA can help streamline interconnected business processes, both within and outside the organization, leading to improved productivity and profitability. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Services
  • Software
• End-user
  • BFSI
  • IT/ITES
  • Telecom
  • Logistics
  • Others
• Geography
  • North America
    • Canada
    • Mexico
    • US
  • Europe
    • Germany
    • UK
    • France
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Improved cost savings for businesses
• Better service delivery
• Non-availability of low-cost industrial labor

However, the market also witnesses some limitations, which are as follows:

• Subscription cost of RPA software
• Customization of services
• Low awareness regarding RPA software

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Market Scope in Robotic Process Automation (RPA) Market Research Report

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Research Analysis Overview

The Robotic Process Automation (RPA) market encompasses various technologies and tools, including screen scraping, API integration, attended and unattended robots, process discovery and modeling, automation development platforms, automation orchestration, and robotic desktop automation. Intelligent document processing, natural language understanding, and machine vision are key components of RPA, along with business process intelligence, predictive and prescriptive analytics, decision automation, automation governance, and automation framework. RPA also involves digital twin, automation roadmap, future of work, automation ethics, responsible automation, automation bias, automation adoption, automation maturity, digital workforce management, RPA adoption rate, automation success factors, automation challenges, automation best practices, RPA solutions, RPA services, RPA consulting firms, RPA training programs, and RPA certification.

Market Research Overview

The global IT software market encompasses businesses specializing in the development and production of application and system software. This sector includes companies offering application software for business and consumer use, such as enterprise, technical, and cloud-based solutions. Notably, the application software market excludes interactive home entertainment software and database management software classified under systems software. Technavio's market analysis for the IT software industry calculates the market size based on the consolidated revenue of companies providing various types of IT software, including those offering automation solutions like Robotic Process Automation (RPA) platforms and software robots. These advanced technologies, including AI-powered automation and intelligent automation, streamline business processes through process mining and workflow automation. By automating repetitive tasks, businesses can improve efficiency, reduce errors, and enhance overall productivity.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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