ICT and Media Business News Robotic Process Automation Market, 2013–2023 | Page 2

Robotic Process Automation Market
Global robotic process automation market is expected to reach $8.69 billion by 2023.
Due to significant growth in technologies such as artificial intelligence and cognitive learning, the adoption of
business automation technologies by enterprises has increased. This has led to rapid increase in demand for
virtual workforce to eliminate repetitive human efforts, driving the market, globally.
Insights into market segments
On the basis of operation, the robotic process automation market is categorized into rule based and knowledge
based; of the two, the rule based category held a larger revenue share in the market, valued at more than 59% in
2017. The rule based operation has gained significant interest from all sized enterprises, as it enables
organizations to configure software robots that effectively automate various annual and highly repetitive tasks. It
also helps organizations in saving a lot of time by completing an actual human task within a fraction of seconds.
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