At 8.5% CAGR, North America Robotic Process Automation Market is Projected to be Worth US$ 2,445.45 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the North America robotic process automation market was valued at US$ 1,271.08 million in 2022 and is expected to reach US$ 2,445.45 million by 2030, registering a CAGR of 8.5% from 2022 to 2030. Increased demand for robotic process automation in BPO and cost benefits offered by robotic process automation are among the critical factors attributed to the North America robotic process automation market expansion.

IT department workers devote more than 20% of their working hours to repetitive tasks. Because of this, various IT companies outsource their tasks, such as invoice processing, claims processing, data entry, data extraction, or other repetitive tasks, to different vendors. As robotic process automation (RPA) can benefit these companies by increasing productivity, its demand is increasing globally. The business process outsourcing (BPO) sector, which always seeks to increase cost efficiency while carrying out routine and repetitive work, requires robotic process automation as it can help BPO companies increase productivity by automating repetitive manual operations while maintaining low costs. In addition, when the robotic process automation program is set and running, the maintenance cost can also be minimal, saving both time and money compared to training and hiring new employees.

Furthermore, as robotic process automation uses automated workflows, it can help process, calculate, and develop reports, providing an almost error-free performance. Automation systems such as bots are mostly designed to handle data through predefined rules, thus offering a consistent workflow at any time. robotic process automation also provides the reliability of the product. Bots help check the data and match it with the instructed outline. If the data is not matched, the robotic process automation system can flag it and reject the data. Moreover, robotic process automation provides high scalability and flexibility. Its scale on-demand feature ensures great flexibility for businesses, allowing them to take on big projects to increase ROI. Hence, all the above benefits of robotic process automation in BPO are increasing its demand globally, driving the North America robotic process automation market.

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

Based on component, the North America robotic process automation market is bifurcated into solution and service. The service segment held 61.6% share of the North America robotic process automation market in 2022, amassing US$ 783.31 million. It is projected to garner US$ 1,456.21 million by 2030 to expand at 8.1% CAGR during 2022-2030. The service segment is sub-categorized into consulting, integration & development, support & maintenance, and training.

In terms of deployment, the North America robotic process automation market is bifurcated into on-premise and cloud. The on-premise segment held 58.0% share of the North America robotic process automation market in 2022, amassing US$ 737.22 million. It is estimated to garner US$ 1,378.78 million by 2030 to expand at 8.1% CAGR during 2022-2030.

Based on organization size, the North America robotic process automation market is bifurcated into SMEs and large enterprises. The large enterprises segment held 67.7% share of North America robotic process automation market in 2022, amassing US$ 860.27 million. It is predicted to garner US$ 1,628.31 million by 2030 to expand at 8.3% CAGR during 2022-2030.

By end-user industry, the North America robotic process automation market is segmented into BFSI, e-commerce & retail, healthcare, IT & Telecom, manufacturing, and others. The BFSI segment held 31.3% share of North America robotic process automation market in 2022, amassing US$ 397.81 million. It is predicted to garner US$ 724.31 million by 2030 to expand at 7.8% CAGR during 2022-2030.

Based on country, the North America robotic process automation market is categorized into the US, Canada, and Mexico. The US held 79.2% share of North America robotic process automation market in 2022, amassing US$ 1,006.95 million. It is projected to garner US$ 1,929.46 million by 2030 to expand at 8.5% CAGR during 2022-2030.

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

2023: UiPath Inc., a leading provider of enterprise automation software, announced its latest platform features designed to enable customers to achieve tangible benefits by leveraging AI and automation. These features empower organizations to transform millions of tasks and thousands of processes across their enterprise, resulting in increased capacity for innovation and enhanced worker productivity.

2023: Datamatics Global Services Ltd revealed that Labor Finders, the largest privately held industrial staffing company in the US and a recipient of multiple "Best of Staffing" industry awards, became their customer for TruBot Robotic Process Automation (RPA).

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