Manufacturing companies often struggle to manage their operational processes and back-office work. Most manufacturing companies are now replacing human resources with physical industry robots to perform critical tasks including product assembling, quality checking, and packing. Robotic process automation services or RPA can be integrated with business processes to automate certain activities, minimize human errors, and maximize productivity.
RPA bots can automate operations within the existing systems such as extracting and updating data from multiple enterprise-grade applications such as enterprise resource planning, customer relationship management, third-party regulatory portals and more that are highly time-consuming and prone to errors.
According to the report from Emergen Research, the global robotic process automation (RPA) in the manufacturing market size that reached USD 7.60 Billion in 2021 is expected to register a revenue CAGR of 33.2% during the forecast period 2022-2030. Adoption of automation in manufacturing can reduce manual workload and increase scalability.
Key Factors That Are Expected To Boost the RPA Market Growth
Owing to the increase in competition among market players, the demand for automation in manufacturing is expected to drive the market revenue growth globally. Other key factors that are expected to boost the market growth include:
- Increasing rapid advancement in robotics to improve scalability, and
- Rising integration of RPA in manufacturing processes
RPA helps in optimizing high-volume repetitive processes and making operations lively. However, factors such as the higher cost of implementing RPA over traditional automation, concern regarding cyber security, and lack of collaboration between business teams and IT support team over RPA services in an enterprise may restrain the market growth.
The report divides the market on the basis of Process, Operation, Component, Organization, Deployment, and Region.
On the basis of Process, the market is further divided into Automated solutions (Report Automation and Demand and Supply planning), Decision Support & Management solutions (Workflow Management, Invoice Management, ERP Management, and Purchase Order Management), and Interaction solutions. Advancements in artificial intelligence that can facilitate decision making based on analyzing large volume of data is expected to increase the demand for decision support & management solution among companies in the manufacturing industry.
By operation, the market is divided into Rule Based and Knowledge Based. Rule based segment accounted for the largest revenue share in the global market during the forecast period. The rising adoption of automation has increased the demand for rule-based RPA. This system can effortlessly execute instructions given by programmers and perform time-consuming repetitive tasks.
On the basis of components, the market is segmented into software and services. The RPA services segment is expected to lead in terms of revenue contribution to the global market over the forecast period. Increased demand for RPA solutions has led to significant rise in demand for consulting and advisory services to help enterprises tap potential opportunities and thus increase profitability.
Based on organization size, the market is segmented into large enterprises and small and medium enterprises. Large manufacturing enterprises are adopting RPA services on a wider scale in order to improve scalability and gain a competitive advantage over other market players. Increased adoption will lead to a further increase in demand for RPA in manufacturing processes, thus driving revenue growth in the segment.
On the basis of deployment, the market is divided into on-premise and on-cloud. Owing to the rising demand for customized RPA solutions by large enterprises integrated with IT infrastructure, the on-premise segment accounted for the largest revenue share.
Region-wise, the market is divided into North America (U.S., Canada, Mexico), Europe (Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Rest of APAC), Latin America (Brazil, Rest of LATAM), Middle East & Africa (Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA).
RPA in the manufacturing market in North America is expected to account for a larger revenue share among other regional markets during the forecast period. Increasing adoption of RPA for process management and intelligent automation and rapid growth of IT sector along with advancements in robotics technology are the key factors driving the growth of the market in this region.
Asia Pacific is expected to register a significantly robust revenue growth rate during the forecast period. The rapid growth of the market in this region is attributable to increasing government and private business expenditure for improving manufacturing processes using state-of-the-art technology.
Major companies in the market report include Pegasystems Inc., Automation Anywhere, Inc., Blue Prism Limited, EdgeVerve Systems Limited, Kofax Inc., UiPath Inc., Celaton Limited, Xerox Corporation, NICE Ltd, and WorkFusion, Inc.
RPA services provided by experienced companies can even assist businesses in automating diverse administrative tasks such as scheduling meetings, recording attendance and meeting minutes, creating and filing invoices and more.