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Robotic Process Automation (RPA) Market

Robotic Process Automation (RPA) Market Size by Type (Software, and Services), Application (BFSI, Pharma & Healthcare, Retail & Consumer Goods, Information Technology (IT) & Telecom, Communication and Media & Education, Manufacturing, Logistics and Energy & Utilities, Others), Deployment (Cloud, On-Premises), Organization (Large Enterprises, Small & Medium Enterprises), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-13437
  • Published Date: Jul, 2024
  • Pages: 235
  • Category: Information Technology & Semiconductors
  • Format: PDF
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The global Robotic Process Automation (RPA) market was valued at USD 3.20 billion in 2023 and growing at a CAGR of 38.95% from 2024 to 2033. The market is expected to reach USD 85.85 billion by 2033. Rising demand from the end-user industries, such as BFSI, Pharma & Healthcare, IT & Telecom has propelled the growth of the Robotic Process Automation (RPA) Market. Unprecedented use of RPA by providing a helping hand to the doctors and other healthcare personnel. Thereby looking into more critical tasks helps in saving time and benefits the patients as well. Further, rising technological advancements and increased adoption of Artificial Intelligence (AI), Machine Leaning, cloud, to streamline the business process may also provide lucrative opportunities towards the growth of the RPA Market, in the period forecasted.

Market Introduction:

Robotic Process Automation (RPA) is an automation technology that primarily uses robots/bots to perform various repetitive and rule-based tasks in the organization. With increasing use of large sets of data and increased chances of the manual errors, their prevails rising demand from various end-user industries where constant repetitive tasks, such as, data entry, customer service, bill process and other activities can be shifted from the personnel to the RPA. Thus, RPA helps these industries in the reduction of manual errors, increased productivity & efficiency levels. Thereby utilizing the personnel in the places that require critical tasks handling and value-added work scenarios.

The RPA technology has also seen constant growth and maturity over the years. Thereby improving the overall performance of the industries, across the verticals and delivering quality results towards growth and development of the economy. This, in turn has led the increased investment in the RPA technology, thereby contributing towards the growth of the RPA Market.

Robotic Process Automation (RPA) Market Size

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Recent Development
  • In January 2023: Xerox Emirates entered into partnership agreement with KOFAX to help the end-users with the digital workflows. This was done by providing the customers with the automated technological solution for accelerating the growth of digitalization.
  • In December 2022: Liquid Payments advanced its technology by launching One-click payment, RPA based solution. This was done to provide its patients with ease and efficiency in the payment options. Thereby optimizing the payment experience for them.
  • In October 2022: Automation Anywhere entered into partnership agreement with IBM. The main objective of this partnership was to provide a platform where assimilation of people, process and the work can work in a streamlined manner.
  • In October 2022: SS&C Technologies launched SS&C Blue Prism. New product line of various automation products. This product line integrates BPM, RPA, and low-and no-code characteristics, that provides varied automation services to its end-users.
  • In May 2021: Automation Anywhere Inc, unveiled cloud-based robotic process automation solution. This helped the company boost the growth of the industrial bots. Integration of RPA and Cloud-based technology has helped the company scaling up its business operations, efficiency, and effectiveness of the company.

Market Dynamics:

Drivers

Rising demand from the end-user industries- Increased demand from various end-user industries has led to the growth of the RPA Market. BFSI sector, for example, uses RPA technology to smoothen the process of granting loans, opening of the bank accounts, deposits. Thereby improving the effectives and efficiency of the bank and other financial institutions. Additionally, various financial institutions are also integrating RPA and AI-based technology to set new policies, procedures and other regulations that are essential to the BFSI services.

Restraints:

Higher automation costs- higher automation and installation costs of RPA is one of the major factors that may hinder the growth of the RPA market. There is large chunk of MSME’s that are not able to incur these costs. This has led only the MNC’s and other large institutions taking unprecedented advantage of the technology. This in turn, may hinder the organization’s growth.

Opportunities:

Technological advancements- technological advancements and integration of various AI-based software to deliver quality results to the end-users and expanding the company’s growth at unprecedented levels have opened the white spaces for the companies to tap into the dynamic market may provide lucrative opportunities to the growth of the RPA market.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia Pacific emerged as the largest market for the global Robotic Process Automation (RPA) market, with a 34.88% share of the market revenue in 2023.

Asia-Pacific region is anticipated to exhibit highest growth rate over the period. Nations such as China, India, and Japan have a tremendous demand for RPA across the verticals. Also, multiple key players in these countries lend a helping hand towards the market growth. In May 2022, UiPath entered into partnership agreement with U.S.-based document workflow automation platform. This was done to enhance and empower the growth of the SMEs to digitalize the business and run the same in an effective and efficient manner.

Asia Pacific Region Robotic Process Automation (RPA) Market Share in 2023 - 34.88%

 

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Type Segment Analysis

The Type segment is divided into software, and services. The service segment dominated the market with 60.11% share in the year 2023. Whereas the software segment is expected to be the fastest moving market by Type. Various services such as, consulting and training have helped the market upgrade its automation process, which have ultimately helped in higher scaling, and increased productivity in the market.

Application Segment Analysis

BFSI segment has dominated the RPA market with 43.21% of the market share and is expected to be the fastest growing market, globally. RPA’s various services and minimization of the redundant efforts has helped the BFSI sector grow at a faster pace. BFSI services such as:

  • Granting loans
  • Accepting deposits
  • Opening of the bank accounts
  • Handling customer grievances have helped the organizations streamline their business process and utilizing their manpower in the areas that require critical thinking, and attention to detail.
Deployment Segment Analysis

On-premises segment occupies largest market share with 51.32% market share whereas the cloud segment is expected to be the fastest growing segment in the RPA market. On-premises helps the companies governing RPA systems and taking care of their requirements that requires handling extensive data and providing meaningful insights out from the same.

Organization Segment Analysis

The Organization type segment is divided into Large Enterprises and Small & Medium Enterprises. Large Enterprises captures the largest market share with 61.56% market share. Larger the organization, larger the organizational activities and higher data error chances. Therefore, Larger organizations are deploying RPA technology to minimize the human error, redundant activities and reducing the time that is wasted in the conventional activities. which in turn, reduced the operational and overhead costs of the large organizations.

Some of the Key Market Players:
  • Automation Anywhere
  • Blue Prism
  • UiPath
  • Pegasystems
  • OnviSorce Inc
  • NTT Advanced Technology Corp
  • NICE
  • AntWork Inc
  • KOFAX Inc
  • FPT Software

Report Description:

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2023 USD 3.20 Billion
Market size value in 2033 USD 85.85 Billion
CAGR (2024 to 2033) 38.95%
Historical data 2020-2022
Base Year 2023
Forecast 2024-2033
Region The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
Segments Type, Application, Deployment, Orgnization

Frequesntly Asked Questions

As per The Brainy Insights, the size of the robotic process automation (RPA) market was valued at USD 2.3 billion in 2022 to USD 66 billion by 2032.

The global robotic process automation (RPA) market is growing at a CAGR of 39.9% during the forecast period 2023-2032.

The Asia Pacific region emerged as the largest market for the robotic process automation (RPA).

The rising demand from the end-user industries will influence the market's growth.

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  • Segmentation on the basis of any specific country or region
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  • Application segment can be further divided on the basis of companies
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1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis by Type
          4.3.2. Market Attractiveness Analysis by Application
          4.3.3. Market Attractiveness Analysis by Deployment
          4.3.4. Market Attractiveness Analysis by Organization
          4.3.5. Market Attractiveness Analysis by Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Rising demand from the end-user industries
    5.3. Restraints
          5.3.1. Higher automation costs
    5.4. Opportunities
          5.4.1. Technological advancement
    5.5. Challenges
          5.5.1. Lower levels of employment of manpower

6. Global Robotic Process Automation (RPA) Market Analysis and Forecast, By Type
    6.1. Segment Overview
    6.2. Software
    6.3. Service

7. Global Robotic Process Automation (RPA) Market Analysis and Forecast, By Application
    7.1. Segment Overview
    7.2. BFSI
    7.3. Pharma & Healthcare
    7.4. Retail & Consumer Goods
    7.5. Information Technology (IT) & Telecom
    7.6. Communication and Media & Education
    7.7. Manufacturing
    7.8. Logistics and Energy & Utilities
    7.9. Others

8. Global Robotic Process Automation (RPA) Market Analysis and Forecast, By Deployment
    8.1. Segment Overview
    8.2. Cloud
    8.3. On-premises

9. Global Robotic Process Automation (RPA) Market Analysis and Forecast, By Organization
    9.1. Segment Overview
    9.2. Large Enterprises
    9.3. Small & Medium Enterprises

10. Global Robotic Process Automation (RPA) Market Analysis and Forecast, By Regional Analysis
    10.1. Segment Overview
    10.2. North America
          10.2.1. U.S.
          10.2.2. Canada
          10.2.3. Mexico
    10.3. Europe
          10.3.1. Germany
          10.3.2. France
          10.3.3. U.K.
          10.3.4. Italy
          10.3.5. Spain
    10.4. Asia-Pacific
          10.4.1. Japan
          10.4.2. China
          10.4.3. India
    10.5. South America
          10.5.1. Brazil
    10.6. Middle East and Africa
          10.6.1. UAE
          10.6.2. South Africa

11. Global Robotic Process Automation (RPA) Market-Competitive Landscape
    11.1. Overview
    11.2. Market Share of Key Players in Global Robotic Process Automation (RPA) Market
          11.2.1. Global Company Market Share
          11.2.2. North America Company Market Share
          11.2.3. Europe Company Market Share
          11.2.4. APAC Company Market Share
    11.3. Competitive Situations and Trends
          11.3.1. Product Launches and Developments
          11.3.2. Partnerships, Collaborations, and Agreements
          11.3.3. Mergers & Acquisitions
          11.3.4. Expansions

12. Company Profiles
    12.1. Automation Anywhere
          12.1.1. Business Overview
          12.1.2. Company Snapshot
          12.1.3. Company Market Share Analysis
          12.1.4. Company Product Portfolio
          12.1.5. Recent Developments
          12.1.6. SWOT Analysis
    12.2. Blue Prism
          12.2.1. Business Overview
          12.2.2. Company Snapshot
          12.2.3. Company Market Share Analysis
          12.2.4. Company Product Portfolio
          12.2.5. Recent Developments
          12.2.6. SWOT Analysis
    12.3. UiPath
          12.3.1. Business Overview
          12.3.2. Company Snapshot
          12.3.3. Company Market Share Analysis
          12.3.4. Company Product Portfolio
          12.3.5. Recent Developments
          12.3.6. SWOT Analysis
    12.4. Pegasytems
          12.4.1. Business Overview
          12.4.2. Company Snapshot
          12.4.3. Company Market Share Analysis
          12.4.4. Company Product Portfolio
          12.4.5. Recent Developments
          12.4.6. SWOT Analysis
    12.5. OnviSource Inc
          12.5.1. Business Overview
          12.5.2. Company Snapshot
          12.5.3. Company Market Share Analysis
          12.5.4. Company Product Portfolio
          12.5.5. Recent Developments
          12.5.6. SWOT Analysis
    12.6. NTT Advanced Technology Corp
          12.6.1. Business Overview
          12.6.2. Company Snapshot
          12.6.3. Company Market Share Analysis
          12.6.4. Company Product Portfolio
          12.6.5. Recent Developments
          12.6.6. SWOT Analysis
    12.7. NICE
          12.7.1. Business Overview
          12.7.2. Company Snapshot
          12.7.3. Company Market Share Analysis
          12.7.4. Company Product Portfolio
          12.7.5. Recent Developments
          12.7.6. SWOT Analysis
    12.8. AntWork Inc
          12.8.1. Business Overview
          12.8.2. Company Snapshot
          12.8.3. Company Market Share Analysis
          12.8.4. Company Product Portfolio
          12.8.5. Recent Developments
          12.8.6. SWOT Analysis
    12.9. KOFAX Inc
          12.9.1. Business Overview
          12.9.2. Company Snapshot
          12.9.3. Company Market Share Analysis
          12.9.4. Company Product Portfolio
          12.9.5. Recent Developments
          12.9.6. SWOT Analysis
    12.10. FPT Software
          12.10.1. Business Overview
          12.10.2. Company Snapshot
          12.10.3. Company Market Share Analysis
          12.10.4. Company Product Portfolio
          12.10.5. Recent Developments
          12.10.6. SWOT Analysis

List of Table

1. Global Robotic Process Automation (RPA) Market, By Type, 2020-2033(USD Billion)

2. Global Software, Robotic Process Automation (RPA) Market, By Region, 2020-2033(USD Billion) 

3. Global Service, Robotic Process Automation (RPA) Market, By Region, 2020-2033(USD Billion) 

4. Global Robotic Process Automation (RPA) Market, By Application, 2020-2033(USD Billion)

5. Global BFSI, Robotic Process Automation (RPA) Market, By Region, 2020-2033(USD Billion)

6. Global Pharma & Healthcare, Robotic Process Automation (RPA) Market, By Region, 2020-2033(USD Billion)

7. Global Retail & Consumer Goods, Robotic Process Automation (RPA) Market, By Region, 2020-2033(USD Billion)

8. Global Information Technology (IT) & Telecom, Robotic Process Automation (RPA) Market, By Region, 2020-2033(USD Billion)

9. Global Communication and Media & Education, Robotic Process Automation (RPA) Market, By Region, 2020-2033(USD Billion)

10. Global Manufacturing, Robotic Process Automation (RPA) Market, By Region, 2020-2033(USD Billion)

11. Global Logistics and Energy & Utilities, Robotic Process Automation (RPA) Market, By Region, 2020-2033(USD Billion)

12. Global Others, Robotic Process Automation (RPA) Market, By Region, 2020-2033(USD Billion)

13. Global Robotic Process Automation (RPA) Market, By Deployment, 2020-2033(USD Billion)

14. Global Cloud, Robotic Process Automation (RPA) Market, By Region, 2020-2033(USD Billion) 

15. Global On-premises, Robotic Process Automation (RPA) Market, By Region, 2020-2033(USD Billion) 

16. Global Robotic Process Automation (RPA) Market, By Organization, 2020-2033(USD Billion)

17. Global Large Enterprises, Robotic Process Automation (RPA) Market, By Region, 2020-2033(USD Billion) 

18. Global Small & Medium Enterprises, Robotic Process Automation (RPA) Market, By Region, 2020-2033(USD Billion) 

19. North America Robotic Process Automation (RPA) Market, By Type, 2020-2033(USD Billion)

20. North America Robotic Process Automation (RPA) Market, By Application, 2020-2033(USD Billion)

21. North America Robotic Process Automation (RPA) Market, By Deployment, 2020-2033(USD Billion)

22. North America Robotic Process Automation (RPA) Market, By Organization, 2020-2033(USD Billion)

23. U.S. Robotic Process Automation (RPA) Market, By Type, 2020-2033(USD Billion)

24. U.S. Robotic Process Automation (RPA) Market, By Application, 2020-2033(USD Billion)

25. U.S. Robotic Process Automation (RPA) Market, By Deployment, 2020-2033(USD Billion)

26. U.S. Robotic Process Automation (RPA) Market, By Organization, 2020-2033(USD Billion)

27. Canada Robotic Process Automation (RPA) Market, By Type, 2020-2033(USD Billion)

28. Canada Robotic Process Automation (RPA) Market, By Application, 2020-2033(USD Billion)

29. Canada Robotic Process Automation (RPA) Market, By Deployment, 2020-2033(USD Billion)

30. Canada Robotic Process Automation (RPA) Market, By Organization, 2020-2033(USD Billion)

31. Mexico Robotic Process Automation (RPA) Market, By Type, 2020-2033(USD Billion)

32. Mexico Robotic Process Automation (RPA) Market, By Application, 2020-2033(USD Billion)

33. Mexico Robotic Process Automation (RPA) Market, By Deployment, 2020-2033(USD Billion)

34. Mexico Robotic Process Automation (RPA) Market, By Organization, 2020-2033(USD Billion)

35. Europe Robotic Process Automation (RPA) Market, By Type, 2020-2033(USD Billion)

36. Europe Robotic Process Automation (RPA) Market, By Application, 2020-2033(USD Billion)

37. Europe Robotic Process Automation (RPA) Market, By Deployment, 2020-2033(USD Billion)

38. Europe Robotic Process Automation (RPA) Market, By Organization, 2020-2033(USD Billion)

39. Germany Robotic Process Automation (RPA) Market, By Type, 2020-2033(USD Billion)

40. Germany Robotic Process Automation (RPA) Market, By Application, 2020-2033(USD Billion)

41. Germany Robotic Process Automation (RPA) Market, By Deployment, 2020-2033(USD Billion)

42. Germany Robotic Process Automation (RPA) Market, By Organization, 2020-2033(USD Billion)

43. France Robotic Process Automation (RPA) Market, By Type, 2020-2033(USD Billion)

44. France Robotic Process Automation (RPA) Market, By Application, 2020-2033(USD Billion)

45. France Robotic Process Automation (RPA) Market, By Deployment, 2020-2033(USD Billion)

46. France Robotic Process Automation (RPA) Market, By Organization, 2020-2033(USD Billion)

47. U.K. Robotic Process Automation (RPA) Market, By Type, 2020-2033(USD Billion)

48. U.K. Robotic Process Automation (RPA) Market, By Application, 2020-2033(USD Billion)

49. U.K. Robotic Process Automation (RPA) Market, By Deployment, 2020-2033(USD Billion)

50. U.K. Robotic Process Automation (RPA) Market, By Organization, 2020-2033(USD Billion)

51. Italy Robotic Process Automation (RPA) Market, By Type, 2020-2033(USD Billion)

52. Italy Robotic Process Automation (RPA) Market, By Application, 2020-2033(USD Billion)

53. Italy Robotic Process Automation (RPA) Market, By Deployment, 2020-2033(USD Billion)

54. Italy Robotic Process Automation (RPA) Market, By Organization, 2020-2033(USD Billion)

55. Spain Robotic Process Automation (RPA) Market, By Type, 2020-2033(USD Billion)

56. Spain Robotic Process Automation (RPA) Market, By Application, 2020-2033(USD Billion)

57. Spain Robotic Process Automation (RPA) Market, By Deployment, 2020-2033(USD Billion)

58. Spain Robotic Process Automation (RPA) Market, By Organization, 2020-2033(USD Billion)

59. Asia Pacific Robotic Process Automation (RPA) Market, By Type, 2020-2033(USD Billion)

60. Asia Pacific Robotic Process Automation (RPA) Market, By Application, 2020-2033(USD Billion)

61. Asia Pacific Robotic Process Automation (RPA) Market, By Deployment, 2020-2033(USD Billion)

62. Asia Pacific Robotic Process Automation (RPA) Market, By Organization, 2020-2033(USD Billion)

63. Japan Robotic Process Automation (RPA) Market, By Type, 2020-2033(USD Billion)

64. Japan Robotic Process Automation (RPA) Market, By Application, 2020-2033(USD Billion)

65. Japan Robotic Process Automation (RPA) Market, By Deployment, 2020-2033(USD Billion)

66. Japan Robotic Process Automation (RPA) Market, By Organization, 2020-2033(USD Billion)

67. China Robotic Process Automation (RPA) Market, By Type, 2020-2033(USD Billion)

68. China Robotic Process Automation (RPA) Market, By Application, 2020-2033(USD Billion)

69. China Robotic Process Automation (RPA) Market, By Deployment, 2020-2033(USD Billion)

70. China Robotic Process Automation (RPA) Market, By Organization, 2020-2033(USD Billion)

71. India Robotic Process Automation (RPA) Market, By Type, 2020-2033(USD Billion)

72. India Robotic Process Automation (RPA) Market, By Application, 2020-2033(USD Billion)

73. India Robotic Process Automation (RPA) Market, By Deployment, 2020-2033(USD Billion)

74. India Robotic Process Automation (RPA) Market, By Organization, 2020-2033(USD Billion)

75. South America Robotic Process Automation (RPA) Market, By Type, 2020-2033(USD Billion)

76. South America Robotic Process Automation (RPA) Market, By Application, 2020-2033(USD Billion)

77. South America Robotic Process Automation (RPA) Market, By Deployment, 2020-2033(USD Billion)

78. South America Robotic Process Automation (RPA) Market, By Organization, 2020-2033(USD Billion)

79. Brazil Robotic Process Automation (RPA) Market, By Type, 2020-2033(USD Billion)

80. Brazil Robotic Process Automation (RPA) Market, By Application, 2020-2033(USD Billion)

81. Brazil Robotic Process Automation (RPA) Market, By Deployment, 2020-2033(USD Billion)

82. Brazil Robotic Process Automation (RPA) Market, By Organization, 2020-2033(USD Billion)

83. Middle East and Africa Robotic Process Automation (RPA) Market, By Type, 2020-2033(USD Billion)

84. Middle East and Africa Robotic Process Automation (RPA) Market, By Application, 2020-2033(USD Billion)

85. Middle East and Africa Robotic Process Automation (RPA) Market, By Deployment, 2020-2033(USD Billion)

86. Middle East and Africa Robotic Process Automation (RPA) Market, By Organization, 2020-2033(USD Billion)

87. UAE Robotic Process Automation (RPA) Market, By Type, 2020-2033(USD Billion)

88. UAE Robotic Process Automation (RPA) Market, By Application, 2020-2033(USD Billion)

89. UAE Robotic Process Automation (RPA) Market, By Deployment, 2020-2033(USD Billion)

90. UAE Robotic Process Automation (RPA) Market, By Organization, 2020-2033(USD Billion)

91. South Africa Robotic Process Automation (RPA) Market, By Type, 2020-2033(USD Billion)

92. South Africa Robotic Process Automation (RPA) Market, By Application, 2020-2033(USD Billion)

93. South Africa Robotic Process Automation (RPA) Market, By Deployment, 2020-2033(USD Billion)

94. South Africa Robotic Process Automation (RPA) Market, By Organization, 2020-2033(USD Billion)

List of Figures 

1. Global Robotic Process Automation (RPA) Market Segmentation

2. Global Robotic Process Automation (RPA) Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Robotic Process Automation (RPA) Market Attractiveness Analysis by Type

9. Global Robotic Process Automation (RPA) Market Attractiveness Analysis by Application

10. Global Robotic Process Automation (RPA) Market Attractiveness Analysis by Deployment

11. Global Robotic Process Automation (RPA) Market Attractiveness Analysis by Organization

12. Global Robotic Process Automation (RPA) Market Attractiveness Analysis by Region

13. Global Robotic Process Automation (RPA) Market: Dynamics

14. Global Robotic Process Automation (RPA) Market Share by Type (2023 & 2033)

15. Global Robotic Process Automation (RPA) Market Share by Application (2023 & 2033)

16. Global Robotic Process Automation (RPA) Market Share Analysis by Deployment (2023 & 2033)

17. Global Robotic Process Automation (RPA) Market Share Analysis by Organization (2023 & 2033)

18. Global Robotic Process Automation (RPA) Market Share by Regions (2023 & 2033)

19. Global Robotic Process Automation (RPA) Market Share by Company (2023)

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global robotic process automation (RPA) market based on below-mentioned segments:

Global Robotic Process Automation (RPA) Market by Type:

  • Software
  • Services

Global Robotic Process Automation (RPA) Market by Application:

  • BFSI
  • Pharma & Healthcare
  • Retail & Consumer Goods
  • Information Technology (IT) & Telecom
  • Communication and Media & Education
  • Manufacturing
  • Logistics and Energy & Utilities
  • Others

Global Robotic Process Automation (RPA) Market by Deployment:

  • Cloud
  • On-Premises

Global Robotic Process Automation (RPA) Market by Organization:

  • Large Enterprises
  • Small & Medium Enterprises

Global Robotic Process Automation (RPA) Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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