Robotic process automation market size worldwide 2017-2023

Robotic process automation market revenues are expected to eclipse four billion U.S. dollars worldwide in 2020. Forecasts predict continued growth in the coming years with market value set to reach more than ten billion by 2023.

Robotic Process Automation

RPA is a type of IT solution that allows organizations to automate many of their tasks through the use of specialized software programs. Many business executives believe that RPA can bring many benefits, saving their company time on repetitive tasks and serving to increase the quality of work that their company produces. Blueprism, NICE, and UiPath are some of the biggest names in the industry, each with a significant share of the overall market.

Automation

Automation on a broader scale extends past the software market and into hardware, especially in the context of manufacturing. The factory automation segment is by far the biggest segment in the industry, whilst process automation and industrial software also account for significant shares. As automation software becomes more advanced, it remains to be seen how much of an effect it will have on employment levels, across a variety of industries.