Global Ai in Robotic Process Automation Market By Types (Software and Service), By Application (BFSI, Pharma & Healthcare, and Other), By Deployment Mode (Cloud-Based and On-premise) By Organization Size (Large Enterprises and Small & Medium Enterprises) By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

Global Ai in Robotic Process Automation Market size is expected to be worth around USD 39244.7 Mn by 2032 from USD 2524.2 Mn in 2022, growing at a CAGR of 32.5% during the forecast period from 2023 to 2032.

Robotic process automation (RPA) uses artificial intelligence and automation to restructure business procedures and boost productivity. Data input and invoice processing are two examples of repetitive, rule-based operations that RPA uses software robots to automate. To improve RPA's capabilities and provide computers the ability to learn from data and adapt to new scenarios, artificial intelligence in RPA uses machine learning, natural language processing, and computer vision. Integrating AI in robotic process automation (RPA) offers several advantages for organizations across industries.

Employees may focus on more complicated and value-added work using AI in RPA to automate repetitive, rule-based operations. This may result in improved production and efficiency as well as a decrease in mistakes and delays. By helping computers to recognize patterns and make judgments based on data, AI can increase RPA's accuracy and quality. This may result in wiser choices and fewer mistakes being made. By comprehending natural language and reacting to consumer inquiries in real time, AI in RPA can assist organizations in providing better customer service. Improved client loyalty and satisfaction may result from this. By automating repetitive processes and allowing staff to concentrate on more complicated and value-added activities, AI in RPA can help organizations cut expenses.

Driving factors

Automation is becoming more and more essential as companies are seeking to improve output, save costs, and increase efficiency. AI in RPA can assist businesses in automating monotonous processes, freeing up staff to concentrate on more difficult and valuable work. As they look to use technology to encourage innovation and growth, many organizations now place a high focus on digital transformation. Organizations may become able to adapt to shifting market conditions by streamlining their business processes and improving their operations with AI in RPA.

RPA's capabilities may now be improved, and robots can now learn from data and adapt to new scenarios because of the quick development of AI technology, notably in areas like natural language processing, computer vision, and machine learning. Giving customers a great experience has grown in importance as a differentiator for businesses, and AI in RPA may assist companies in doing this by comprehending natural language and reacting to consumer inquiries instantly. It has become more challenging to handle and analyze data manually as a result of the rising volume of data that enterprises are producing.

Organizations can utilize AI in RPA to analyze massive amounts of data and produce insights that can be applied to process optimization and better decision-making. The reasons for the adoption of AI in RPA are a reflection of the desire for businesses to use technology to promote innovation, increase productivity, and improve customer experience. AI in RPA is becoming a more alluring choice for companies looking to optimize their operations because advances in AI technology are also enabling computers to learn from data and adapt to new conditions.

Restraining Factors

Implementing this technology can be challenging for businesses because it requires specialized knowledge as well as skill to implement AI in RPA. For certain organizations, the difficulty of integrating AI with current technologies might be a significant obstacle. Processing a lot of data is a component of AI in RPA that raises questions regarding data security as well as privacy.

Organizations must make sure that are in compliance with laws like the GDPR and that they have the necessary safeguards in place to secure sensitive data. For AI in RPA to be effective and produce the desired outcomes, it needs to be continuously monitored and maintained. This may increase implementation costs overall and call for specialized employees to oversee.

By Type Analysis

The Service Segment Accounted for the Largest Revenue Share in Ai in Robotic Process Automation Market in 2022.

Based on type, the market is segmented into Software and Service. Among these types, the service segment is expected to be the most lucrative in the global Ai in robotic process automation market, with the largest revenue share of 68%. These services include consulting and advisory services, which guide organizations in understanding the benefits of AI-powered RPA and developing implementation roadmaps. Implementation and integration services assist in deploying RPA solutions and integrating them with existing IT infrastructure.

Training and support services educate users on RPA usage and provide ongoing technical assistance. Managed services offer comprehensive RPA management, from setup to maintenance, while cognitive services provide advanced AI capabilities. Process assessment and optimization services identify automation opportunities and optimize processes. Together, these service segments facilitate successful AI-powered RPA implementations and support organizations in realizing the full potential of automation.

By Application Analysis

The BFSI Holds the Significant Share of Ai in Robotic Process Automation Market in 2022.

Based on application, the market is divided into BFSI, pharma & healthcare, retail & consumer goods, information technology & telecom, communication and media & education, and other applications. Among these, the BFSI segment is dominant in the application segment of Ai in Robotic Process Automation Market, with a market share of 29% and a CAGR of 27.8%.

In the BFSI segment of the AI-powered robotic process automation market, the adoption and impact of AI in RPA are significant. AI-powered RPA solutions offer numerous benefits for BFSI organizations, including increased operational efficiency, improved accuracy in data processing, enhanced customer experience, and enhanced compliance and risk management. These solutions automate manual and repetitive tasks, such as data entry, document processing, and transaction reconciliation, allowing BFSI institutions to streamline their operations, reduce costs, and allocate resources to more value-added activities.

By Deployment Mode Analysis

The On-premise Segment Accounted for the Largest Revenue Share in Ai in Robotic Process Automation Market in 2022.

Based on deployment mode, the market is divided into On-Premise and Cloud-Based. On-premise segment dominates the market with 78% of the market share. The term "on-premise" refers to a deployment model in which businesses install and run RPA software on their infrastructure on-site. The on-premise deployment has a number of benefits, especially for sectors like healthcare, government, and finance that have strict security and data protection regulations.

Since sensitive data stays in the organization's safe environment, on-premise AI-enabled RPA systems give businesses complete control over their data. This deployment strategy enables organizations to directly access the underlying infrastructure, seamlessly integrate RPA software with existing systems, and customize and modify it to meet their unique needs. Additionally, it gives organizations more freedom and discretion regarding updates, upkeep, and support.

The Cloud-based Segment is Fastest Growing Segment in Ai in Robotic Process Automation Market.

The cloud segment of the robotic process automation market is expected to have significant growth during the forecast period. Numerous advantages are available to businesses across numerous industries via cloud-based AI-enabled RPA technologies. They offer scalability, enabling businesses to rapidly increase their RPA implementation following demand and needs.

Additionally, flexible, cloud-based RPA allows users to access the software remotely from any location with an internet connection. Due to the cloud service provider's management of these obligations, the cloud-based deployment model eliminates the requirement for initial infrastructure investment as well as the burden of software maintenance and upgrades.

By Organization Size Analysis

The Large Enterprises Segment Accounted for the Largest Revenue Share in Ai in Robotic Process Automation Market.

Based on organization size, the market is divided into Large Enterprises and Small & Medium Enterprises. The large enterprise segment dominates the market with 66% of the market share. Because they have more resources and intricate operational processes, large businesses are an appealing market for AI-powered RPA solutions. These businesses frequently handle huge amounts of data and complex procedures across many departments.

Large businesses can automate a variety of operations, from data input and document processing to complicated decision-making processes, thanks to AI-powered RPA. Large organizations can frequently put in place on-premise RPA solutions and may have particular needs for customization, system integration, and adherence to industry norms.

Key Market Segments

Based on Type

• Software
• Service

Based on Application

• BFSI
• Pharma & Healthcare
• Retail & Consumer Goods
• Information Technology & Telecom
• Communication and Media & Education
• Other

Based on Deployment Mode

• Cloud-based
• On-premise

Based on Organization Size

• Large Enterprises
• Small & Medium Enterprises

Growth Opportunity

Improving the precision and efficiency of automated processes is one of the primary prospects for AI in the RPA business. Based on a lot of data, AL algorithms can be trained to spot patterns and make predictions. This can be especially helpful for jobs like natural language processing that call for the processing of unstructured data. Automating procedures that require communication between people or machines is made simpler by the use of NLP, which enables bots to comprehend and analyze text input.

The capacity to learn from experience is another area where AI might benefit RPA. Bots can be programmed to make decisions based on experience using machine learning techniques. In tasks requiring judgment or decision-making, like fraud detection or customer service, this can be extremely helpful. Bots can improve their decision-making efficiency and accuracy by learning from previous interactions.

By giving them the ability to tackle increasingly difficult jobs, AI can likewise be utilized to improve the skills of bots. Bots, for instance, can be taught to comprehend photographs and videos, allowing them to automate jobs that require visual recognition, like watching manufacturing operations or spotting product flaws. Similar to how humans can use AI to accomplish increasingly difficult calculations or simulations, bots can utilize AI to automate previously unachievable activities.

Latest Trends

Hyper automation is the practice of combining various automation techniques, such as RPA, AI, machine learning, and others, to produce more complex and comprehensive automation solutions. RPA bots can learn and adjust to changing conditions by utilizing AI and ML, which enables them to automate more complicated tasks and make more informed judgments. Intelligent Document Processing, an up-and-coming trend, uses AI to extract and analyze data from unstructured documents including contracts, invoices, and receipts. IDP enables RPA bots to automate tasks like contract administration and invoice processing that were previously too difficult or time-consuming to do so.

In the RPA market, catboats and NLP are gaining popularity because they help bots communicate with people more efficiently and offer more individualized experiences. Bots can read and interpret natural language input thanks to NLP, which makes it simpler to automate processes involving communication between humans and machines. IAPs are platforms that integrate automation technologies like RPA, AI, and others into a single integrated solution. These platforms give organizations a central location to manage and scale automation programmers, allowing them to automate more processes and increase efficiency.

Regional Analysis

North America Accounted for the Largest Revenue Share of AI in Robotic Process Automation Market in 2022.

North America is estimated to be the most lucrative market in the global Ai in robotic process automation market, with the largest market share of 38% The United States, in particular, plays a central role in driving the AI-powered RPA market in North America. The country has a mature business environment, strong technological infrastructure, and a large number of enterprises across various industries. North American organizations have embraced AI-powered RPA solutions to automate and optimize their business processes, improve operational efficiency, and gain a competitive edge.

Asia Pacific is expected as Fastest Growing Region in Projected Period in Ai in Robotic Process Automation Market.

Due to a rise in RPA use across the IT, pharmaceutical, healthcare, telecom, manufacturing, and retail industries, Asia Pacific is expected to have the largest CAGR throughout the projection period. RPA suppliers are also concentrating on programs to draw SMEs from all over the world. For example, in May 2022, UiPath teamed with an airplane (a document workflow automation platform located in the US) to help SMEs digitalize their operations so they can operate more easily and effectively. Such worldwide initiatives will have a significant impact on nations like China, Japan, and India, which will ultimately fuel the Asia Pacific region's rise in the robotic process automation market.

Key Regions and Countries

North America

• US
• Canada
• Mexico

Western Europe

• Germany
• France
• The UK
• Spain
• Italy
• Portugal
• Ireland
• Austria
• Switzerland
• Benelux
• Nordic
• Rest of Western Europe

Eastern Europe

• Russia
• Poland
• The Czech Republic
• Greece
• Rest of Eastern Europe

APAC

• China
• Japan
• South Korea
• India
• Australia & New Zealand
• Indonesia
• Malaysia
• Philippines
• Singapore
• Thailand
• Vietnam
• Rest of APAC

Latin America

• Brazil
• Colombia
• Chile
• Argentina
• Costa Rica
• Rest of Latin America

Middle East & Africa

• Algeria
• Egypt
• Israel
• Kuwait
• Nigeria
• Saudi Arabia
• South Africa
• Turkey
• United Arab Emirates
• Rest of MEA

Key Players Analysis

To increase their market share, companies in the robotic process automation market have entered into alliances, mergers, and acquisitions. For instance, in October 2022, IBM and Automation Anywhere collaborated to create a cutting-edge platform for connecting machines, people, and processes. Through the relationship, both businesses will be able to develop, enhance, and manage customary business processes, improving overall business value.

Top Key Players in Ai in Robotic Process Automation Market

• Automation Anywhere
• Blue Prism
• EdgeVerve Systems Ltd.
• FPT Software
• KOFAX, Inc.
• NICE
• NTT Advanced Technology Corp.
• OnviSource, Inc.
• Pegasystems
• UiPath
• Other

Recent Development

• May 2021: UiPath, one of the leading RPA software providers, acquired Cloud Elements, an API integration platform, to expand its capabilities in integrating with cloud applications.
• June 2021: Automation Anywhere, another major RPA software provider, announced a partnership with Google Cloud to integrate their platforms and provide customers with AI and cloud-based automation solutions.

Report Scope