Increased adoption of RPA technology for enterprise-scale implementations, the ease of implementation, and high investment returns are expected to increase in the coming years providing boost to the Global Robotic Process Automation( RPA) Market. The ability to increase process efficiency, speed and productivity is the key driver for RPA market, each of which is increasingly critical as organisations across the globe strive to meet the demands of cost reduction during COVID-19 pandemic. The Global RPA Market is expected to increase at significant rate, and  is likely to ascend from USD 1.57 billion in 2019 to USD 6.2 billion by 2027, rising at a CAGR of 20.3% over the forecast period (2020-2027), according to QuantAlign Research.
The number of industries using the RPA technology to streamline operating processes, have risen in the past few years, and continue to experience demand in the global business space. Companies across the globe are adopting competitive RPA strategies as automation is becoming the new industry standard.
Global RPA Market Perspective, Demand Outlook, Trend Analysis, Intelligence & Industry Estimates To 2027 –Â “https://quantalignresearch.com/global-robotic-process-market-report “
Key insights:
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Key players in robotic process automation Market are Pegasystems Inc., Blue Prism PLC, Verint System Inc., Xerox Corporation, Redwood Software (U.S.), IBM, Arago Us, Inc., Accenture, Thoughtonomy Ltd., Ipsoft, Inc., Softomotive Ltd. are among others
Segment overview
On basis of application, BFSI industry held the largest market share among all the industries. RPA is a powerful tool to maximize operational efficiency, increase profitability, and improve customer experience. RPA effectively automate various processes to meet the demands of the banking, and financial services sector’s future requirements.
The healthcare and life science segment is anticipated to register the highest CAGR over the forecast period. The healthcare is among the most challenging and the regulated industry, and the handling of large quantities of sensitive data has an urgent need for efficiency and accuracy. Patients can obtain more value-based treatment and attention by reducing the number of back-office activities and the logistical burdens on healthcare staff are minimized.
 On basis of deployment, the on-premise segment accounted for the significant market share in 2019. The implementation of on-premise RPA offers more platform options. The on- premise deployment of RPA has greater potential for long term cost savings. The cloud segment is poised to grow at the higher CAGR during 2020-2027. The cloud based RPA is implemented quickly, and is more suitable for short term cost saving and quicker ROI.
On the basis of region, North America dominated the Global RPA Market in 2019, on the account of the increasing penetration of automation and process management solutions, and increasing spending by major players across the region. Furthermore, the mature RPA technology in the region have led to greater implementation of RPA. Growth of RPA market in Asia-Pacific is projected to expand at the highest CAGR across the globe. The key driver for the growth in the region is attributed to large number of start-ups and niche-offerings providers, and incorporating AI and automation to remain competitive, efficient and profitable. As new entrants entered the market, the RPA implementation evolved and new product changes began to be introduced every quarter, the interaction model also shifted. This has led to overall growth of the RPA market in the region.
Segmentation covered in the report
By Solution
By Process
By Deployment
By Application Services
By End-Use
By Region
