Robotic Process Automation Market to Reach USD 7.64 Billion in 2028; Rising Number of COVID-19 Cases Worldwide to Bolster Growth: Fortune Business Insights™

The global robotic process automation (RPA) market is set to gain impetus from the rising number of COVID-19 cases requiring more registration and testing. According to the ‘Annals of Internal Medicine 2020’ report, 32% of healthcare providers spent more on state-of-the-art solutions to manage their costs and administrative services in the U.S. This information is published by Fortune Business Insights™ in a new report, titled, “Robotic Process Automation Market, 2021-2028.” The report further states that the robotic process automation market size is projected to grow from USD 1.61 billion in 2021 to USD 7.64 billion in 2028 at a CAGR of 25.0% in the forecast period. It stood at USD 1.29 billion in 2020.

A List of Renowned Robotic Process Automation Providers Operating in This Market:

• Automation Anywhere (California, United States)
• Blue Prism PLC (Warrington, United Kingdom)
• IPsoft Inc. (New York, United States)
• Kofax, Inc. (California, United States)
• Nice Systems Ltd. (Ra'anana, Israel)
• NTT Advanced Technology Corporation (Kanagawa, Japan)
• Pegasystems, Inc. (Massachusetts, United States)
• Redwood Software (Houten, Netherlands)
• Uipath SRL (New York, United States)
• OnviSource, Inc. (Texas, United States)
• EdgeVerve Systems Limited (Karnataka, India)
• HelpSystems (Minnesota, United States)
• FPT software (Hanoi, Vietnam)
• Xerox Corporation (Connecticut, United States)
• Daythree Business Services Sdn Bhd (Selangor, Malaysia)
• Kryon Systems (New York, United States)
• Softomotive (London)
• Genpact Ltd (New York, United States)
• AntWorks (Singapore)
• KPMG (Amstelveen, Netherlands)

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Report Coverage-

The research report provides a complete analysis of existing organizations that can affect the outlook throughout the forthcoming years in both positive and negative ways. At the same time, it delivers an in-depth assessment by highlighting data on numerous aspects that may contain drivers, challenges, dynamics, trends, hindrances, and opportunities. It also offers the size of the robotic process automation industry from a global perspective by determining historical data.

Drivers & Restraints-

Rising Incorporation of Artificial Intelligence and Cognitive Technologies to Boost Growth

Organizations nowadays are demanding for robotic process automation solutions as they can operate business functionalities from end-to-end and handle complicated unstructured information. Many companies are blending cognitive technologies and artificial intelligence with these software solutions to expand horizons of business process automation. These factors are expected to propel the robotic process automation market growth in the near future. However, the installment of thousands of bots, training programs for existing employees, hiring of new professionals, and setting up novel infrastructure require huge investments, which may hinder growth.

Read a Detailed Summary of This Report:

https://www.fortunebusinessinsights.com/robotic-process-automation-rpa-market-102042

COVID-19 Pandemic-

COVID-19 Pandemic: Urgent Need to Adopt Digital Solutions for Automation will Aid Growth

The outbreak of the COVID-19 pandemic has compelled companies to shut down their branches and physical stores. Hence, they are relying more on digital solutions to automate front-end and back-end processes. The demand for advanced software is surging rapidly as more firms are looking for transforming their engagements with stakeholders, customers, suppliers, and employees. Our reports will help you choose the right strategy to overcome various challenges in the market for robotic process automation.

Regional Insights-

Government Initiatives to Implement Automation Solutions will Favor Growth in North America

Geographically, North America earned USD 471.3 million in terms of revenue in 2020. This growth is attributable to the rising adoption of process management and automation solutions by small, and medium, and large enterprises. The government of the U.S. is also taking various initiatives to implement automation solutions for improving the work processes of numerous companies. On the other hand, Asia Pacific would exhibit the fastest growth because of the increasing adoption of Industry 4.0. Japan and China are anticipated to lead throughout the forthcoming years, while India is set to go through a rapid digital transformation.

Competitive Landscape-

Key Players Focus on Introducing New Automation Solutions to Intensify Competition

The global market houses several prominent companies that are currently aiming to conduct research and development activities to introduce unique RPA solutions. The COVID-19 pandemic has also compelled numerous companies to help the healthcare sector manage their testing operations smoothly. Below are the two latest industry developments:

• April 2020: Automation Anywhere launched intelligent automation solutions to help enterprises, healthcare agencies, and governments to deploy business and remote working continuity programs to tackle the challenges faced owing to the COVID-19 pandemic.
• October 2019: Automation Anywhere introduced the world’s first cloud-native, web-based Digital Workforce platform named Automation Anywhere Enterprise A2019. It can lower infrastructure barriers and costs to adopt robotic process automation.

Read Press Release:

https://www.fortunebusinessinsights.com/press-release/robotic-process-automation-rpa-market-9551