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Robotic Process Automation in Manufacturing Market Trends – Rising demand for intelligent automation

VANCOUVER, BRITISH COLUMBIA, CANADA, May 8, 2023 /EINPresswire.com/ -- Global Robotic Process Automation (RPA) in manufacturing market size reached USD 7.60 Billion in 2021 and is expected to register a revenue CAGR of 33.2% during the forecast period, according to latest analysis by Emergen Research. Rising demand for automation in manufacturing and rising integration of RPA in manufacturing process are key factors expected to drive market revenue growth globally.

While RPA uses software bots that are deployed in front-end of system and can be customized easily in order to meet needs of end-user. It is suitable to perform back-end office functions such as billing, invoice management, data transfer and analysis, and others. Using RPA is convenient for scaling automation wherein user can use an orchestrator to configure, coordinate, and manage RPA in various stages of a manufacturing project. This is the key factor responsible for increase in demand and adoption of RPA in manufacturing thereby driving growth of the market globally.

Additionally, rising demand for intelligent automation along with rapid advancements in artificial intelligence has facilitated intelligent data driven decision making and enabled understanding of user actions at user interface level thereby boosting reliability and accuracy by reducing dependency on manual workforce. All of the mentioned factors are expected to propel revenue growth of market during the forecast period.

Another advantage of robotic process automation in manufacturing is its potential to increase quality control. Manufacturers can spot faults and irregularities in their products more quickly and precisely by automating quality control operations, reducing the chance of defective products reaching consumers. RPA systems may also undertake thorough data analysis to discover trends and patterns in manufacturing processes, allowing manufacturers to make better educated decisions to improve product quality.

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The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Robotic Process Automation in Manufacturing market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others.

Leading companies profiled in the report are:

Pegasystems Inc., Automation Anywhere, Inc., Blue Prism Limited, EdgeVerve Systems Limited, Kofax Inc., UiPath Inc., Celaton Limited, Xerox Corporation, NICE Ltd, and WorkFusion, Inc

Key Highlights presented in the report:

Software segment is expected to register a substantially rapid revenue CAGR during the forecast period due to increasing demand for solutions for remote accessibility that ensures better coordination among various teams

On-cloud segment is expected to register a significantly robust revenue growth rate over the forecast period due to increase in demand for cost-effective solutions for installing and maintaining the cloud. It also simplifies implementation of applications on the cloud platform and reduces dependency on Information Technology (IT) and support team. On-cloud deployment facilitates remote accessibility which enables users to use software systems with downloading it.

North America market is expected to register a considerably large revenue share in RPA in manufacturing market over the forecast period than other regional markets due to robust presence of major market players providing RPA services and solutions such as Pegasystems Inc, Automation Anywhere, Inc., WorkFusion, Inc., and Xerox Corporation

In October 2021, Pegasystems Inc. was awarded Digital Technology Award at Hong Kong Business Technology Excellence Awards as a reward for its innovative and visionary project. It integrated an AI-powered customer decision hub to allow client to integrate across multiple back-end systems and built a 360-degree Pega-built CRM system which will enable a real-time marketing solution for maximizing patron attributes and gaming data in order to simplify complex and manual marketing process.

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Analysis of the segments and their growth projection is carried out by extensive historical and current analysis of the market scenario. Further, the report offers details about the factors and features of the Robotic Process Automation in Manufacturing market expected to boost the growth of the industry in the coming years.

Market Segmentation by product type:

Process Outlook (Revenue, USD Billion; 2019–2030)
Automated Solution

Report Automation

Demand and Supply planning

Decision Support & Management Solution

Workflow Management

Invoice Management

ERP Management

Purchase Order Management

Interaction Solution

Operation Outlook (Revenue, USD Billion; 2019–2030)
Rule Based

Knowledge Based

Component Outlook (Revenue, USD Billion; 2019–2030)
Software

Services

Key Questions Answered in the Report:

What exactly is robotic process automation (RPA), and how does it apply to manufacturing?

What are the advantages of implementing RPA in manufacturing, and how do they differ from traditional production processes?

What are the main hurdles and hazards of using RPA in manufacturing, and how can these be mitigated?

What types of manufacturing processes lend themselves best to RPA, and what are some specific RPA use cases in manufacturing?

What technologies and tools are needed to implement RPA in manufacturing, and how do they fit into existing IT infrastructure?

How can RPA systems affect the roles and responsibilities of manufacturing people, and what training is required to use these systems?

What is the forecast for RPA in manufacturing, and how do you expect this technology to evolve in the next years?

What are some best practises for adopting RPA successfully in manufacturing, and what considerations should be addressed while assessing RPA suppliers and solutions?

Major Regions Covered in the Robotic Process Automation in Manufacturing Market Report:

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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