Artificial Intelligence
Robotic Process Automation Market Share Is Expected to Reach US$ 26.5 Billion In Revenue By 2033 | Fact.MR’s Analysis
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Rockville, April 25, 2023 (GLOBE NEWSWIRE) — Fact.MR has provided detailed information about the price points of key developers of robotic process automation positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Fact.MR – A Market Research and Competitive Intelligence Provider: The global demand for robotic process automation stands at a market value of US$ 3.2 billion in 2023 and is expected to reach US$ 26.5 billion in revenue by the end of 2033.
Increasing investments in automation research and development, as well as the increasing availability of technologies such as RPA OCR (Optical Character Recognition) tools and automated robots, are expected to cement demand for robotic process automation services across the globe. By the conclusion of the forecast period, sales of RPA monitoring tools for cybersecurity, risk management, and compliance management are expected to skyrocket.
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Market Drivers:
The Robotic Process Automation (RPA) market is driven by several factors, including:
- RPA technology can automate repetitive and time-consuming tasks, resulting in significant cost savings for organizations. By automating tasks, companies can reduce the need for manual labor and increase efficiency, leading to cost savings. These factors are expected to drive the growth of the market.
- Moreover, RPA can perform tasks faster and more accurately than humans, leading to increased efficiency and productivity. This can help companies complete tasks faster, reduce errors, and increase throughput.
- RPA can improve the customer experience by enabling faster and more accurate responses to customer inquiries and requests. This can help companies improve customer satisfaction and retention.
- RPA can help simplify complex business processes by automating repetitive and manual tasks. This can help companies streamline operations, reduce errors, and improve compliance.
- RPA can be easily scaled to meet the needs of organizations of all sizes, from small businesses to large enterprises. This makes it an attractive solution for companies looking to automate their business processes.
- RPA can be easily integrated with other technologies, such as artificial intelligence (AI) and machine learning (ML), to further improve efficiency and productivity.
Key Market Trends:
- The RPA market has witnessed significant growth in recent years due to the increasing adoption of automation technologies across various industries. Companies are leveraging RPA to automate repetitive and mundane tasks, resulting in increased efficiency, accuracy, and productivity.
- With advancements in artificial intelligence and machine learning, intelligent automation has become a new trend in the RPA market. Intelligent automation combines RPA with AI and ML to enable machines to learn from data and make intelligent decisions.
- Cloud-based RPA solutions have gained popularity due to their flexibility, scalability, and cost-effectiveness. Cloud-based solutions offer easier access to data and analytics, enabling organizations to make informed decisions.
- Hyper automation is the integration of multiple automation technologies, including RPA, AI, ML, and other cognitive tools. Hyper automation enables end-to-end automation of business processes, resulting in improved efficiency, agility, and customer satisfaction.
- The healthcare sector is rapidly adopting automation technologies, including RPA, to improve operational efficiency, reduce costs, and enhance patient care. RPA is being used in areas such as claims processing, medical coding, and patient data management.
- Companies are using RPA to enhance customer experience by automating customer support processes, such as chatbots and virtual assistants. RPA helps companies to provide quick and efficient support to their customers, resulting in improved customer satisfaction.
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Market Restraints:
There are several restraints to the Robotic Process Automation (RPA) market. Here are some of the most significant ones:
- RPA systems are currently limited to performing repetitive and rule-based tasks, which means that they have limited cognitive ability. This can be a constraint for organizations that need to automate more complex processes that require decision-making and problem-solving capabilities.
- RPA systems are designed to work with structured data and may have difficulty processing unstructured data such as images, audio, and video. This can be a limitation for organizations that need to automate processes that involve unstructured data.
- RPA systems can be challenging to scale up. As the volume of data and processes increases, organizations may need to invest in additional hardware and software to support the system.
Competitive Landscape:
To establish a sustainable market share, key companies in the market are focusing on expanding new automation technologies and automation services.
- For instance, In September 2022, Newgen Software announced the launch of its new integrated RPA offering. Moreover, the company has boosted its automation process to further support its automation and development capabilities.
Key Companies Profiled in Robotic Process Automation Industry Report
- UiPath
- Automation Anywhere Inc.
- Redwood Software
- NICE
- Blue Prism
- Pegasystems
- Kofax
- KOFAX
- NTT Advanced Technology Corporation
- Genpact Ltd.
- WorkFusion
- EdgeVerve
- IPsoft Inc.
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Robotic Process Automation Industry Research Segmentation
- By Type :
- Software
- Services
- By Service :
- Consulting
- Implementation
- Training
- By Organization Size :
- Large Enterprises
- SMEs
- By Deployment :
- Cloud
- On-Premise
- By Application :
- BFSI
- Manufacturing
- Pharma & Healthcare
- Retail
- Telecom & IT
- Others
- By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
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Business Workflow Automation Market Scope: The global business workflow automation market has reached a size of US$ 7.84 billion in 2023 and is forecasted to expand at 4.9% CAGR to achieve a revenue of US$ 12.7 billion by the end of 2033.
Substation Automation System Market Share: Substation Automation System Market Analysis Report By Components (Controllers & Remote Terminal Units ,Graphical User Interface ,Communication Elements ,Power Management System), By Type Of Substation(Transmission ,Distribution) – Global Market Insights 2028.
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Big Data Technology and Services Demand Analysis: The global big data technology and services market is estimated to propel at a CAGR of 18% from 2023 to 2033. The market is valued at US$ 40 billion in 2023 and is thus expected to jump to a valuation of US$ 210 billion by 2033-end.
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Artificial Intelligence
Xinhua Silk Road: E China’s Changzhou City unveils investment opportunities in sectors of new productive forces for global investors
BEIJING, Sept. 29, 2024 /PRNewswire/ — Changzhou City, an leading international smart manufacturing base located in east China’s Jiangsu Province, has released a bunch of investment investment opportunities to global investors in various sectors of new productive forces at the the 2024 New Energy Industry Development Conference & Invest in Changzhou Conference held in the city on September 19.
The investment opportunities covers nine areas including synthetic biology, low-altitude economy, intelligent connected new energy vehicles, solid-state batteries, hydrogen energy, third-generation semiconductors, and artificial intelligence, manifesting the confidence of Changzhou in further opening development.
Changzhou, seated in the axis of the Yangtze River Delta, has become an important base for advanced manufacturing in China.
In recent years, thanks to intensified efforts in developing new energy industry and fostering new quality productive forces, Changzhou has expanded the added value of its industrial sector to more than two trillion yuan, with manufacturing added value accounting for about 43 percent, both ranking among the top three in Jiangsu Province.
In the Hurun China New Energy Cities 2024, a list released by the Hurun Research Institute at the conference, Changzhou ranked first among other cities in the country for three consecutive years in terms of investment attractiveness and concentration.
Changzhou has accumulated a total of 10.59 billion US dollars (nearly 74.25 billion yuan) in terms of actually utilized foreign capital since 2020. Major projects such as soft magnetism of ArcelorMittal and medical device of BIOS, a Hong Kong-based company, have been launched during the conference.
In addition, Changzhou has released a multilingual guide for foreign nationals in Changzhou at the conference, which includes practical service items in stay and residence, work, convenient payment options, among others, turning the city into a more open and international place.
Original link: https://en.imsilkroad.com/p/342380.html
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Artificial Intelligence
CGTN: China honors individuals with highest awards in celebration of 75th National Day
BEIJING, Sept. 29, 2024 /PRNewswire/ — Huang Zongde enlisted in the Chinese People’s Liberation Army at the age of 17, beginning a nearly four-decade-long military career where his bravery, valor and devotion earned him countless awards and honors.
The heavily decorated 93-year-old received the highest state honor on Sunday when Chinese President Xi Jinping conferred him with the Medal of the Republic at a ceremony in the Great Hall of the People in Beijing.
China awarded national medals and national honorary titles to 15 individuals, including Huang, in recognition of their contribution and achievement as it celebrates the 75th anniversary of the founding of the People’s Republic of China, which falls on October 1.
Chinese heroes and role models
In addition to Huang, three others were awarded the Medal of the Republic. Wang Yongzhi, a missile and rocket expert and a pioneer of China’s manned space program, was honored posthumously. Wang Zhenyi, a medical scientist known for breakthroughs in leukemia treatment, and Li Zhensheng, an expert in wheat breeding, are also among the honorees.
The national honorary titles went to 10 people, including scientists, a border patrolman, an artist, a craftsman, educators, a health worker, an economist and an athlete.
Addressing Sunday’s awarding ceremony, President Xi, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, called on the Chinese people to learn from heroes and role models to form a mighty force to build a strong China.
China is in a crucial period for building a great modern socialist country in all respects and achieving national rejuvenation through Chinese modernization, he said.
Encouraging the Chinese people to strive for extraordinary achievements at ordinary job posts, Xi urged them to contribute to resolving challenges to development and reform and safeguarding social harmony and stability.
China’s old friends and good friends
As its highest state honor for foreigners, China awarded the Friendship Medal to Dilma Rousseff, president of the New Development Bank and former Brazilian president, for her commitment to the friendship between China and Brazil, and development of relationship between China and the Community of Latin American and Caribbean States, and cooperation among BRICS countries, a group of major emerging economies.
Accepting the honor at the ceremony, Rousseff said the medal symbolizes the strong bonds between Brazil and China and pledged to continue her unremitting efforts to promote the friendship.
China’s achievements over the decades, including economic transformation, technological innovation and remarkable social development, have made it a beacon and a source of inspiration for the world, she said.
Xi lauded Rousseff as an outstanding representative of China’s old friends and good friends who have shared the same aspirations and stood together with the Chinese people over the past 75 years and vowed that China will never forget such international friends.
The Chinese people are ready to join hands with people from all over the world to safeguard world peace, promote common development and advance the building of a community with a shared future for mankind to create a better future for humanity, he said.
https://news.cgtn.com/news/2024-09-29/China-honors-individuals-with-highest-awards-ahead-of-National-Day-1xhS1SaZeZa/p.html
View original content:https://www.prnewswire.co.uk/news-releases/cgtn-china-honors-individuals-with-highest-awards-in-celebration-of-75th-national-day-302261867.html
HANGZHOU, China, Sept. 29, 2024 /PRNewswire/ — On September 26, a delegation from the Ministry of Digital Development, Innovations and Aerospace Industry of the Republic of Kazakhstan, led by Minister Madiyev Zhaslan, visited SUPCON. SUPCON’s Chairman and President, Mr.Cui Shan, warmly welcomed the delegation.
The Kazakhstan government representatives expressed their appreciation and recognition of SUPCON’s expertise and innovation in intelligent manufacturing, digital transformation, and industrial AI.
Madiyev Zhaslan expressed a strong interest in industrial AI technologies of SUPCON, particularly their applications in intelligent and low-carbon facilities. He looks forward to exploring extensive collaboration with SUPCON across various sectors in Kazakhstan.
Cui Shan emphasized that as a leading industrial AI company with a global presence, SUPCON will leverage its technological advantages to meet Kazakhstan’s industry development requirements and trends, injecting new momentum into the country’s industrial digitalization.
In 2023, SUPCON established a subsidiary in Kazakhstan as its Central Asia regional headquarters and set up a localized operational system. SUPCON will continue to invest in the long-term development of the Central Asia region, contributing further wisdom and strength to the industrial digital transformation in Kazakhstan and beyond.
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View original content:https://www.prnewswire.co.uk/news-releases/kazakhstan-government-delegation-visited-supcon-302261857.html
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