Robotic Process Automation Market To Grow At Over 30.0% CAGR during 2020–2030

From $2,078.3 million in 2020, the global robotic process automation market revenue is expected to surge to $45,982.0 million by 2030. According to the predictions of the market research firm, P&S Intelligence, the market will progress at a CAGR of 36.3% from 2020 to 2030 (forecast period). This consequently allows human employees to focus on important tasks, such as client handling. 

The market is being driven by the burgeoning need for virtual workforces and the rising adoption of robotic process automation, on account of its ability to provide higher efficiency, improved customer experience, and greater ease in handling business operations. Robotic process automation (RPA) software assists businesses in increasing their efficiency, as it can smoothly run in the background 24*7, which subsequently leads to the mechanization of back-end processes. 


For example, IBM Corporation entered into a partnership with Automation Anywhere Inc. in 2017 to aid enterprises in digitizing their operations and boosting efficiency across processes by providing them with a set of tools that automate and simplify various data-intensive tasks, within the processes handled by its process management software. Additionally, the RPA technology helps businesses provide an improved customer experience. 

This is primarily evident in the finance sector, which is rapidly incorporating digital technologies. This technology manages tasks, such as producing statements, thereby assisting banks in sending computerized timely reminders to customers and handling the transactions their clients make in real-time. Depending on the operation segment, the RPA market is divided into knowledge-based and rule-based categories.

Of these, the rule-based category contributed higher revenue to the market in the past, and this trend is expected to continue in the coming years as well. This is credited to the various advantages associated with rule-based automation, such as the efficient execution of several repeatable tasks that do not need human expertise or intervention. In addition, rule-based RPA handles business applications via existing user interfaces, as per pre-defined inputs.

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