Research Nester’s recent market research analysis on “Robotic Process Automation Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global robotic process automation market in terms of market segmentation by industry, solution, organization, deployment mode, and by region.
Growing Popularity of Digital Assistants to Promote Global Market Share of Robotic Process Automation
The global robotic process automation market is estimated to grow majorly on account of the increasing adoption of digital assistants. For instance, digitalization can benefit enterprises by enhancing their business processes. Consumers can get a distinct advantage in their businesses by utilizing cutting-edge solutions, and a good digitalization strategy can boost productivity. In addition, the use of digital channels makes it possible to deliver feedback at regular intervals, which could assist clients to make more strategic decisions. Robotic process automation is part of the transition that digital technologies enable for the expansion of the digital economy. RPA has therefore been helping people through digital means, and it is projected to accelerate the expansion of the market. In 2021, there were more than 4 billion digital voice assistants being utilized in devices all around the world.

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The global robotic process automation market is estimated to grow majorly on account of the increasing usage of intelligent bots. Businesses often use chatbots and other intelligent bots to enhance the client experience and also to handle consumers and provide 24/7 service. As a result, the market for robotic process automation is projected to expand. As of 2022, more than 50% of organizations that used artificial intelligence had chatbots in their IT departments.
Some of the major growth factors and challenges that are associated with the growth of the global robotic process automation market are:
Growth Drivers:
· Surge in Knowledge about Cloud Computing
· Rising Usage of RPA in Diverse Applications
Challenges:
The hesitance to implement automated processes and the challenge associated with automating non-standard processes are some of the major factors anticipated to hamper the global market size of robotic process automation. The conversion of the manual process into an automated process is projected to cost a lot of money as no one's labor is able to absorb new technology, they are reluctant to incorporate them into their processes. Additionally, as technology advances, automated procedures change continuously, making it difficult to adjust. As a result, it is anticipated to slow the expansion of the worldwide robotic process automation market.

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By industry, the global robotic process automation market is segmented into finance, retail, healthcare, BFSI, manufacturing, it & telecom, and others. The BFSI segment is estimated to garner the highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. The reason behind the growth can be attributed to the increasing need to automate financial institutions' business procedures, such as deposits and account opening, in order to eliminate errors. Additionally, RPA use has increased significantly in BFSI organizations, and the requirement to automate company processes in order to boost productivity and efficiency is anticipated to further accelerate the segment's growth in the market. According to estimates, over 60% of financial organizations worldwide have already piloted or are now implementing robotic process automation.
By region, the North American robotic process automation market is to generate the highest revenue by the end of 2035. This growth is anticipated by the existence of influential players and inventors in the area. Additionally, organizations are using robotic process automation (RPA) more frequently, and it is anticipated that government agencies is poised to further fuel market expansion in the area. Government measures to promote RPA usage across various industries are also anticipated to boost market expansion in the area. For instance, since the start of the administration, the largest 24 Federal agencies have carried out more than 100 initiatives to lighten the administrative load and focus more resources on agency missions, resulting in billions of dollars in realized and anticipated savings and the reallocation of hundreds of thousands of full-time equivalent employee hours to higher-value work. More than 50 of these efforts are centered on process standardization and improvement, and about 30 of them make use of cutting-edge tools like artificial intelligence and robotic process automation.

This report also provides the existing competitive scenario of some of the key players of the global robotic process automation market which includes company profiling of are OnviSource, Inc., Automation Anywhere, Inc., Pegasystems Inc., NICE LTD., UiPath Inc., Blue Prism Limited, WorkFusion, Inc., Kryon Systems, FPT Software Company, Ltd., and others.

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