Robotic Process Automation Market Research Report- Forecast till 2023 Market Highlights
The robotic process automation (RPA) market size is expected to grow at approximately USD 2,700 Million by 2023, at 29% of CAGR between 2017 and 2023. North America remained the most dominant market with a market value of USD 294.19 million in 2017, which is expected to grow at a CAGR of 31.29% during the forecast period.
Robotic process automation is the most advanced concept among both the manufacturing and industrial sector. Its ability to enhance productivity makes it explicit. Through the usage of robotic process automation, the production process gets much easier. It enables companies to produce things in huge quantities at a much lower budget. Moreover, things can be achieved at a much fast speed. The growing demand for smartphones is one of the prominent reasons behind the promising market prospect of robotic process automation for smartphone manufacturing.
With many creative solutions in mobile interface development, the process is getting more inspiring for the market perspective. Key factors like grown usage of social media applications, etc., contribute immensely towards the Global Robotic Process Automation Market. The massive scope for smartphones encouraging manufacturers for coupling greater features into smartphones is one of the prime reasons behind the market growth. Moreover, this growth rate is expected to remain steady all across the globe as each market is equally established.
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The global market for robotic process automation is segmented on the basis of robot type, in terms of component, on the basis of organization size, and in terms of region.
On the basis of Robot Type, the market is further segmented into Cartesian, SCARA, articulated, delta, 6-axis robot, redundant, dual-arm, and parallel
On the basis of Component, the market is further segmented into Motor, generators, motor controls, automation equipment, and power transmission equipment
On the basis of Organization Size, the market is further segmented into Small & medium enterprise and large enterprise
On the basis of Region, the market is further segmented North America, Europe, Asia-Pacific, and the rest of the world.
On the basis of region, the global market for robotic process automation is segmented into North America, Europe, Asia-Pacific, and the rest of the world. North America is anticipated as the most dominant name in the robotic process automation for the smartphone manufacturing market during the forecast period. It’s the massive development in the IT industry that is being touted as the reason. Asia-Pacific is speculated as to the next big destination for robotic process automation for the smartphone manufacturing market. Interestingly, the market is expected to grow at a much faster rate during the forecast period than ever. The European market looks equally promising, as well.
Industry News 3rd Watch News publishes a report on Global Robotic Process Automation for Market. It analyses all the crucial aspects associated with the growth of the market and factors playing a determinant role in the expansion. It predicts the growth rate and identifies the market where the growth is expected to be the most significant throughout.
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Robotic Process Automation Market, By Process (Automated Solution, Decision Support and Management Solution), By Operations (Rule Based), By Type (Tools), By Industry (IT & Telecommunication, Manufacturing & Logistics) – Global Forecast 2023