Asia-Pacific Robotic Process Automation Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

The Asia-Pacific Robotic Process Automation Market will register a CAGR of 34.8% during the forecast period. Robotic process automation deals with implementing smart software to perform high-volume and repetitive tasks that usually take a lot of time to achieve for humans and are generally monotonous to execute on the market for robotic process automation.

Key Highlights

• The robotic process automation (RPA) market is expected to grow in Asian countries owing to increasing focus on and adoption of a digital workforce and rising functional benefits of RPA solutions for business process automation across various end-user industries.
• RPA adoption in the region is fueled by the need to automate intricate business processes across various industries, the convenience of doing business, and the falling costs of automation software and services.
• Vendors in the market are improving their products by including new features in Citrix automation, automation lifecycle management, workload management, credential management, SLA-based automation, and new data APIs. These improvements are drawing in new sectors of industry that demand more operational and security capabilities.
• Moreover, the adoption rate of RPA in enterprises facing challenges and inefficiencies with legacy systems is rising. The benefits offered by the SPA not only increase the organization's productivity but also enable them to focus on its core business activities.
• There will be data security concerns such as data breaches; social engineering attacks are the primary medium used by attackers to gain access to sensitive data might hamper the market.
• With the outbreak of COVID-19, the robotic process automation market is had witnessed significant growth, owing to an increased usage of robotic process automation solutions by an increase in social distancing norms.

APAC Robotic Process Automation Market Trends

Mining Sector will Drive the Market Growth

• Robotic process automation reduces costs, saves time, and upskills workers in mining. It also fundamentally reshapes employees' work environment, especially for larger workforces.
• Some major mining companies in Asian countries are shifting their focus on transformation with a progressive stance and proving digitization. Also, with automation mining industry can achieve much better operational outcomes.
• For instance, ITOCHU Corporation has implemented RPA solutions to increase efficiency and automate routine manual tasks. It automates PC operations rather than using people to reduce working hours and improve accuracy. The company also revealed its plan to deploy RPA beyond the company and throughout the ITOCHU Group.
• Many vendors in the market are expanding their presence to seize the growing opportunity in the mining sector in Asian countries. For instance, UiPath has established a Japanese subsidiary, UiPath K.K., in Tokyo, Japan. UiPath is the first leading global RPA vendor to develop a legal entity in Japan.
• India is also experiencing automation and digitization in its mining sector aimed at enhancing productivity and addressing the challenges faced by the industry. This can fuel the growth of the studied market in the forecast period.
• Further, innovations in artificial intelligence, machine learning, and the industrial internet of things all have the potential to save the sector an estimated USD 373 billion and hundreds of lives by 2025 by automating machinery operation, planning and scheduling, facilitating predictive maintenance, improving man, material and asset traceability, harnessing the power of real-time data and analytics, and providing visibility across the mine-to-market value chain.

China to Hold the Largest Market Share

• China is witnessing growth in adopting RPA, owing to the growing adoption of automation technologies in the Asia-Pacific region. Automation adoption has seen a steady increase in the country to offset an era of population decline across the region.
• Moreover, China has been the hub for the cheapest labor in the world. But in recent years, several companies and government agencies have started to enhance their efficiency with the help of technology.
• China is an important market for boosting RPA adoption and AI development. Many local Chinese businesses have started their RPA journey to manage costs and improve business value.
• Manufacturing is one of the prominent features of the Chinese economy, and it is undergoing a rapid transformation. This large-scale transformation has aided the country in becoming a leading nation in the manufacturing market globally.
• The Chinese manufacturing industry has seen industrial automation empowered by physical robots. It has also augmented a need for disruptive technology like Robotic Process Automation in manufacturing that helps businesses focus more on product innovation and core strengths instead of daily repetitive tasks that are critical but mundane.

APAC Robotic Process Automation Market Competitor Analysis

The Asia-Pacific robotic process automation market is moderately competitive and consists of several players. These businesses use innovative joint ventures to boost their market share and profitability. Other significant participants are Automation Anywhere Inc., Blue Prism Group PLC, and AntWorks Pte Ltd.

In September 2022, IBM launched its new Software Lab, a state-of-the-art global innovation center at Fintech One, Gujarat International Finance Tec-City (GIFT City), making it one of the first global operations within the mega-development in the City. At the same time, the center will focus on product engineering, design, and development of new products and solutions in the areas of Security, Sustainability Software, Data & AI, and Robotic Automation and collaborate with the technology ecosystem in the region to co-create solutions for the global industry.

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