Global Robotic Process Automation (RPA) Market Size will Reach $5441.21 Million in 2023

Global Robotic Process Automation (RPA) Market Overview

According to Global Market Monitor, the global robotic process automation market size will reach $5441.21 million in 2023 and is expected to grow to $13571.14 million by 2028.

Robot process automation is a kind of technology application that simulates the interactive process between humans and computers by software robots and realizes the automatic execution of workflow. RPA software robots can complete computer operations and replace or assist people in completing repetitive labor with clear rules according to process settings, becoming an emerging "digital labor force". The rise and application of RPA technology are in line with the common and growing business process automation needs of enterprises.

The US Dominates Robotic Process Automation (RPA) Market.

Market Dynamics

The rising use of cutting-edge technologies like AI and machine learning will primarily fuel the robotic process automation market growth. More and more businesses are adopting RPA to automate business processes and handle increasingly complex data to optimize business processes and workflow. The increase in the adoption of AI and cloud-based solutions for internal efficiency among SMEs is driving market growth.

UiPath is one of the major players operating in the robotic process automation (RPA) market, holding a share of 16.82% in 2022.

In September 2022, the leading enterprise automation software company strengthened its partnership with Snowflake, the Data Cloud company, by launching a new bi-directional integration that extends the value of automation across the enterprise. By leveraging the Snowflake Data Cloud, UiPath robots can quickly connect data directly to business processes without using complex code, which speeds up time to value realization.