An overview of the global robotic process automation industry market
According to Bergers Consulting, the market size of the global robotic process automation industry in 2023 will be 54$4.1 billion and is expected to grow to $135 by 2028$7.1 billion.
Robotic process automation is a technical application that uses software robots to simulate the interaction process between humans and computers to realize the automation of work processes. RPA software robots can complete computer operations according to process settings, replace or assist people to complete repetitive tasks with clear rules, and become an emerging "digital workforce". The rise and application of RPA technology meets the widespread and growing demand for business process automation in enterprises.
The United States dominates the robotic process automation market
Among the leading innovators and pioneers in the adoption of robotics, the United States is one of the largest markets, with a market share of 4466%。The region's robot penetration continues to grow, helping U.S. businesses become more competitive and creating new jobs. Some agencies and private companies are investing in creating conversational RPA chatbots to automate their processes. For example, the National Science Society (NSF) has created an RPA bot that can automatically send messages and alert people to upcoming public meetings. Because the NSF organization holds thousands of meetings each year, the robot has helped managers save more than 25,000 hours.
Market dynamics
The growing adoption of cutting-edge technologies such as artificial intelligence, machine learning, Xi, etc., will drive the growth of the robotic process automation market. The increasing adoption of RPA by enterprises to automate business processes and process increasingly complex data to automate the optimization of business processes and workflows is driving the market growth as the adoption of artificial intelligence and cloud-based solutions by SMEs to improve internal efficiency increases.
Uipath is one of the major players in the Machine Process Automation (RPA) Market, accounting for 1682% market share.
In September 2022, Uipath, the industry's leading enterprise automation software company, strengthened its partnership with Snowflake, a data cloud company, by launching a new two-way integration that extends the value of automation across the enterprise. By leveraging the Snowflake Data Cloud, UiPath Robotics can quickly connect data directly to business processes in the data cloud without the need for complexities, accelerating time to value.