At 8.0% CAGR, South & Central America Robotic Process Automation Market is Projected to be Worth US$ 282.90 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the South & Central America robotic process automation market was valued at US$ 153.09 million in 2022 and is expected to reach US$ 282.90 million by 2030, registering a CAGR of 8.0% from 2022 to 2030. Growing technological advancements and increasing adoption of robotic process automation in retail sector are among the critical factors attributed to the South & Central America robotic process automation market expansion.

In the coming years, the market is anticipated to enter a new category of software vendors who will be developing advanced analytics and data mining capabilities. This would further extend the scope of automation across more multifaceted processes and allow the automation of processes with variable degrees of unstructured data/content. This unstructured data/content would include freeform emails. The net impact of burgeoning autonomics in industries will result in lower labor arbitrage benefits from offshoring of processes, which would further result in increased consideration toward in-sourcing strategy.

In addition, the South & Central America robotic process automation market will be experiencing a shift toward smart process automation as enterprises continue to experience an optimal return on investments with the implementation of robotic process automation coupled with persisting digital transformation platforms. This, in turn, would transform the business processes to be smarter in terms of developing more insightful data and decision-making, subsequently enabling the enterprises to take more noteworthy strides in the automation of business-oriented processes.

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

Based on component, the South & Central America robotic process automation market is bifurcated into solution and service. The service segment held 67.6% share of the South & Central America robotic process automation market in 2022, amassing US$ 103.43 million. It is projected to garner US$ 185.00 million by 2030 to expand at 7.5% CAGR during 2022–2030. The service segment is sub-categorized into consulting, integration & development, support & maintenance, and training.

In terms of deployment, the South & Central America robotic process automation market is bifurcated into on-premise and cloud. The on-premise segment held 62.1% share of the South & Central America robotic process automation market in 2022, amassing US$ 95.10 million. It is estimated to garner US$ 170.50 million by 2030 to expand at 7.6% CAGR during 2022–2030.

Based on organization size, the South & Central America robotic process automation market is bifurcated into SMEs and large enterprises. The large enterprises segment held 72.1% share of South & Central America robotic process automation market in 2022, amassing US$ 110.44 million. It is predicted to garner US$ 201.20 million by 2030 to expand at 7.8% CAGR during 2022–2030.

By end-user industry, the South & Central America robotic process automation market is segmented into BFSI, e-commerce & retail, healthcare, IT & Telecom, manufacturing, and others. The BFSI segment held 35.9% share of South & Central America robotic process automation market in 2022, amassing US$ 55.00 million. It is predicted to garner US$ 95.92 million by 2030 to expand at 7.2% CAGR during 2022–2030.

Based on country, the South & Central America robotic process automation market is categorized into Brazil, Argentina, and the Rest of South & Central America. Brazil held 48.8% share of South & Central America robotic process automation market in 2022, amassing US$ 74.68 million. It is projected to garner US$ 143.43 million by 2030 to expand at 8.5% CAGR during 2022–2030.

Key players operating in the South & Central America robotic process automation market are Appian Corp, International Business Machines Corp, Microsoft Corp, NICE Ltd, Salesforce Inc, SAP SE, and UiPath Inc, among others.

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