At 10.1% CAGR, Asia Pacific Robotic Process Automation Market is Projected to be Worth US$ 1,546.72 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Asia Pacific robotic process automation market was valued at US$ 716.88 million in 2022 and is expected to reach US$ 1,546.72 million by 2030, registering a CAGR of 10.1% from 2022 to 2030. Rise in use of robotic process automation in BFSI sector and rising demand for cognitive robotic process automation are among the critical factors attributed to the Asia Pacific robotic process automation market expansion.

Using software bots, robotic process automation helps perform all the mundane, labor-intensive, repetitive tasks across the banking sector. By implementing pre-programmed rules, software bots can automate high-volume business processes, which can help improve operational accuracy, optimize costs, and ensure improved talent management. Also, as robotic process automation can smartly mimic all human actions at the primary user interface level, its demand in the banking industry is increasing tremendously. In addition, robotic process automation can also help accelerate process efficiency in the banking industry and build a better workplace experience for employees. It can help perform various tasks, such as account approvals, receivables, collection, accounting origination, underwriting, general ledger, and account closure.

Furthermore, banking organizations can use advanced technologies such as AI and ML to make robotic process automation automate complex processes, which can help in decision-making. This can further enable employees with smart AI agent assistance, thus quickly resolving customer queries and enabling smart conversations with instant resolution. Thus, robotic process automation provide effective cost management and resource utilization for customer and employee satisfaction, increasing its demand in modern digital banks.

On the contrary, frequent alterations in operating procedures and business rules impacting robotic process automation efficiency hampers the growth Asia Pacific robotic process automation market.

Based on component, the Asia Pacific robotic process automation market is bifurcated into solution and service. The service segment held 63.3% share of the Asia Pacific robotic process automation market in 2022, amassing US$ 453.95 million. It is projected to garner US$ 947.72 million by 2030 to expand at 9.6% CAGR during 2022-2030. The service segment is sub-categorized into consulting, integration & development, support & maintenance, and training.

In terms of deployment, the Asia Pacific robotic process automation market is bifurcated into on-premise and cloud. The on-premise segment held 59.0% share of the Asia Pacific robotic process automation market in 2022, amassing US$ 422.68 million. It is estimated to garner US$ 885.21 million by 2030 to expand at 9.7% CAGR during 2022-2030.

Based on organization size, the Asia Pacific robotic process automation market is bifurcated into SMEs and large enterprises. The large enterprises segment held 69.2% share of Asia Pacific robotic process automation market in 2022, amassing US$ 495.83 million. It is predicted to garner US$ 1,052.21 million by 2030 to expand at 9.9% CAGR during 2022-2030.

By end-user industry, the Asia Pacific robotic process automation market is segmented into BFSI, e-commerce & retail, healthcare, IT & Telecom, manufacturing, and others. The BFSI segment held 31.4% share of Asia Pacific robotic process automation market in 2022, amassing US$ 224.76 million. It is predicted to garner US$ 457.15 million by 2030 to expand at 9.3% CAGR during 2022-2030.

Based on country, the Asia Pacific robotic process automation market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Japan held 31.5% share of Asia Pacific robotic process automation market in 2022, amassing US$ 225.46 million. It is projected to garner US$ 472.83 million by 2030 to expand at 9.7% CAGR during 2022-2030.

Key players operating in the Asia Pacific robotic process automation market are Appian Corp, Automation Anywhere Inc, Blue Prism Ltd, Cyclone Robotics, Datamatics Global Services Ltd, International Business Machines Corp, Microsoft Corp, NICE Ltd, Pegasystems Inc, Salesforce Inc, SAP SE, and UiPath Inc, among others.

2023: Datamatics Global Services Ltd-a prominent global company specializing in digital technologies, operations, and experiences-highlighted the continued achievements of their collaboration with imageOne. Throughout the year 2022, the company has played a significant role in driving imageOne's digital transformation by leveraging its intelligent automation solutions: TruCap+ Intelligent Document Processing (IDP) and TruBot Robotic Process Automation (RPA). These advanced solutions have enabled imageOne to automate numerous manual processes, resulting in improved business efficiency, scalability, and cost savings.

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