The Robotic Process Automation Market is to Touch $22.14 billion by 2030; The progress in cutting-edge technologies such as optical character recognition (OCR), machine learning, and robotic process automation (RPA) analytics and The widespread adoption of RPAaaS (Robotic Process Automation as a Service) helps eliminate licensing costs associated with traditional RPA solutions propels market growth.

The Robotic Process Automation Market size is estimated to reach $22.14 billion by 2030, growing at a CAGR of 35.9% during the forecast period 2023-2030, according to a recent report published by IndustryARC, titled, “Robotic Process Automation Market – By Form (Attended Automation, Unattended Automation and Hybrid RPA), By Solutions (Automated Software Solutions (Tools and Services, Software robot,  Self-learning solutions, Rule-Based Operation, Knowledge-Based Operation,  Cognitive automation, Enterprise software, Programmable RPA bots, Others),  Decision Support Solutions and Interaction Solutions.), By Deployment (On-premises and Cloud), By Organization Size (Small & Medium scale enterprises and Large scale enterprises), By Application (Administration and reporting, Customer support, Data migration and  capture, Data analysis, Compliance and Others), By End-User (Aerospace and Defense, BFSI, Automobile, Food & Beverage, Retail,  Governments, Education, Manufacturing, Transportation and Logistics, Telecommunication  & IT, Energy and Utilities, Healthcare and Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2023-2030” The progress in cutting-edge technologies such as optical character recognition (OCR), machine learning, and robotic process automation (RPA) analytics and The widespread adoption of RPAaaS (Robotic Process Automation as a Service) helps eliminate licensing costs associated with traditional RPA solutions are fueling the growth of the Robotic Process Automation industry during the forecast period.

The Asia Pacific region is projected to experience the highest compound annual growth rate (CAGR) of 42% from 2024 to 2030. This growth is largely attributed to the widespread adoption of advanced Robotic Process Automation (RPA) systems, which are increasingly being used to handle complex business processes. According to a 2022 Blue Prism report, many organizations in the region are embracing intelligent RPA technology that incorporates machine learning to manage more intricate tasks. The report also highlighted that Australia leads the Asia Pacific region in RPA usage, followed by India, with adoption rates of 78% and 49%, respectively.

The widespread adoption of RPAaaS (Robotic Process Automation as a Service) helps eliminate licensing costs associated with traditional RPA solutions Fuels Market Expansion:

RPAaaS eliminates licensing costs for RPA by hosting bots in the cloud, thereby removing the need for bot licensing fees. This model also offers 100% faster deployment since no installation is required. Additionally, the software is automatically managed and updated through the cloud. These advantages are expected to drive market growth, as they make the technology more accessible and appealing to a wider range of companies. In July 2022, AutomationEdge, a leading AI-powered IT automation and RPA company, highlighted in a report how RPAaaS will accelerate growth in the mid-market sector in the coming years.

The progress in cutting-edge technologies such as optical character recognition (OCR), machine learning, and robotic process automation (RPA) analytics is driving market growth

The latest technologies, including optical character recognition (OCR), machine learning, and robotic process automation (RPA) analytics, have been integrated into RPA systems. This integration has led to the creation of intelligent automation solutions that include tools, services, and decision support capabilities. As a result, it is projected that desk-based interactions will be reduced by 40% by 2025. According to a January 2022 article by NICE, OCR in RPA-enabled organizations is poised to automate a significant volume of operational business processes, particularly those tasks that still rely heavily on scanned documents, such as customer-submitted forms.