The Robotic Process Automation (RPA) market is anticipated to grow at a considerable CAGR of 31.6% during the forecast period. The growing demand and requirement for RPA in banking and other financial institutions are boosting the growth of the market during the forecast period. RPA assists banks and other departments associated with banks to automate repetitive manual processes and allows employees to focus on more critical tasks. The rise of digital banking solutions, cryptocurrency, mobile payments, and other new businesses has forced major banks to implement new technologies to offer better services to their customers and enhance customer satisfaction. According to IBEF, banks had to implement changes to accommodate new guidelines on moratoriums and execute transactions; insurance firms had to continue collecting confidential documents from their customers in a secure manner, and financial institutes had to disperse loans and credit for small and medium businesses as per government-assistance programs.
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The players are launching and advancing new solutions based on robotic process automation for banks is contributing to the market growth. For instance, in April 2022, UiPath announced it will offer a new Automation as a Service offering on the Finastra cloud, designed to provide a managed service model for automation to Finastra’s thousands of banks, credit unions, and financial institution customers. With the new offering, UiPath and its partners can design, install, deploy, run, and maintain automated processes to enable the banking sector to leverage the power of automation along with the security and compliance of cloud-based infrastructure from Finastra, a leading pure-play financial services software provider.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Global Robotic Process Automation Market Report Segment
By Type
- Software
- Services (consulting, Implementing, and Training)
By Deployment
- Cloud
- On-Premise
By Process
- Automated Solutions
- Decision Support & Management Solutions
- Interaction Solutions
By Application
- BFSI
- Healthcare
- Retail
- IT & Telecom
- Manufacturing & Logistics
- Others (Media, Education, Energy & Utilities, and Travel)
Global Robotic Process Automation Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the Robotic Process Automation (RPA) market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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