At 9.0% CAGR, Europe Robotic Process Automation Market is Projected to be Worth US$ 1,823.50 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Europe robotic process automation market was valued at US$ 918.02 million in 2022 and is expected to reach US$ 1,823.50 million by 2030, registering a CAGR of 9.0% from 2022 to 2030. Cost benefits offered by robotic process automation and rise in use of robotic process automation in BFSI sector are among the critical factors attributed to the Europe robotic process automation market expansion.

RPA provides its users with the ability to in-source and offshore RPA-managed services, which further enables them to regain governance over the process without any surplus cost. The cost incurred might even be lesser than the offshore process without RPA. Furthermore, the buyers are attracted to the robust return on investments offered through robotic process automation deployments.

The implementation of robotic process automation has proven to provide its buyers with enhanced predictability of costs and refine overall management of cost, subsequently allowing them to recognize the opportunity to deploy the staff on higher and strategic value roles. Further, as robotic process automation gradually shifts to the mainstream, several client organizations globally are expected to find it more comfortable transitioning from traditional incumbent service providers to modern robotic process automation capabilities.

Another factor influencing buyers to invest in RPA-driven deals is the rising pressure on them to sustain profitability, regulatory issues, and management of the increasing cost of offshoring. Thus, all the above cost benefits of robotic process automation are fueling the growth of the Europe robotic process automation market.

On the contrary, frequent alterations in operating procedures and business rules impacting robotic process automation efficiency hampers the growth of Europe robotic process automation market.

Based on component, the Europe robotic process automation market is bifurcated into solution and service. The service segment held 60.6% share of the Europe robotic process automation market in 2022, amassing US$ 556.04 million. It is projected to garner US$ 1,066.48 million by 2030 to expand at 8.5% CAGR during 2022-2030. The service segment is sub-categorized into consulting, integration & development, support & maintenance, and training.

In terms of deployment, the Europe robotic process automation market is bifurcated into on-premise and cloud. The on-premise segment held 56.9% share of the Europe robotic process automation market in 2022, amassing US$ 522.16 million. It is estimated to garner US$ 1,011.10 million by 2030 to expand at 8.6% CAGR during 2022-2030.

Based on organization size, the Europe robotic process automation market is bifurcated into SMEs and large enterprises. The large enterprises segment held 65.5% share of Europe robotic process automation market in 2022, amassing US$ 601.56 million. It is predicted to garner US$ 1,166.71 million by 2030 to expand at 8.6% CAGR during 2022-2030.

By end-user industry, the Europe robotic process automation market is segmented into BFSI, e-commerce & retail, healthcare, IT & Telecom, manufacturing, and others. The BFSI segment held 32.7% share of Europe robotic process automation market in 2022, amassing US$ 300.15 million. It is predicted to garner US$ 564.39 million by 2030 to expand at 8.2% CAGR during 2022-2030.

Based on country, the Europe robotic process automation market is categorized into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The UK held 29.7% share of Europe robotic process automation market in 2022, amassing US$ 273.02 million. It is projected to garner US$ 504.38 million by 2030 to expand at 8.0% CAGR during 2022-2030.

Key players operating in the Europe robotic process automation market are Appian Corp, Automation Anywhere Inc, Blue Prism Ltd, Datamatics Global Services Ltd, International Business Machines Corp, Microsoft Corp, NICE Ltd, Pegasystems Inc, Salesforce Inc, SAP SE, and UiPath Inc, among others.

2023: SS&C Technologies Holdings, Inc. announced that Blue Prism was recognized as a leading contributor to robotic process automation (RPA) in the Everest Group Robotic Process Automation (RPA) Products PEAK Matrix Assessment 2023. This acknowledgment reinforces Blue Prism's position as a leader in the RPA industry.

2023: Enterprise automation from SAP utilized best-in-class SAP technologies - including SAP Integration Suite, SAP Signavio solutions, SAP Build solutions, and AI - to facilitate the connection and automation of intricate, end-to-end business processes. These technologies collaborated to enable customers to establish connections swiftly and effortlessly within both on-premises and cloud IT landscapes, attain transparency into business processes and their efficacy, and subsequently automate those processes seamlessly. Following the announcement of this framework at SAP Sapphire, there was a remarkable uptake and momentum among customers.

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