This robotic process automation in BFSI market report defines and segments the market with analyzes and projections of the market size in terms of value, volume and technology.  The robotic process automation in BFSI market research report also identifies driving and restraining factors of the global market with an analysis of the trends, opportunities and challenges. This robotic process automation in BFSI market report examines the leading manufacturers of the market with sales, revenue and price. The facts and data of the market are represented in this report using diagrams, graphs, pie charts and other pictorial representations.

This robotic process automation in BFSI market report firstly introduced basic information which includes definition, classification, application, Industry chain structure and Industry view.  To ensure the quality of the report further, market dynamics, various projection, demographic changes, historic details and other have been included in this robotic process automation in BFSI market report. Analysts have studied the investments in research and development of products and technologies that are expected to give the players a definite boost.

Data Bridge Market Research analyses that the robotic process automation in BFSI market was valued at USD 382.58 million in 2021 and is expected to reach the value of USD 3,483.74 million by 2029, at a CAGR of 31.80% during the forecast period of 2022-2029.

Definition

Similar to other businesses, banking and financial services are multidimensional service domains with numerous back- and front-end operations. The banking, financial services, and insurance (BFSI) industry could benefit from robotic process automation in a number of areas, including payable accounts, credit card processing, general customer care, account closure, opening accounts and receivables, and mortgage processing (RPA).

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Key Growth Drivers:

• High prevalence of advanced technology in BFSI sector

One of the major factors driving the global robotic process automation market is the growing need to boost productivity while also increasing the penetration of advanced technology in the BFSI sector. BFSI organizations are increasingly deploying artificial intelligence and robotic process automation to significantly increase their efficiency in a highly competitive market. A growing need to improve work agility and customer experience will also drive market growth. Robotic process automated bots can perform a variety of tasks across various verticals in organizations to extract information from digital platforms. Furthermore, such services reduce manual intervention while improving the customer experience.

• Growing deployment of robot in various BFSI sectors

RPA has grown in popularity among BFSI organizations in recent years. The integration of RPA into service offerings provided by robot orchestration, Business Process Organizations (BPO), enterprise-level robot deployments, and centralized robot dashboard management has resulted in increased RPA adoption in the BFSI sector.

Furthermore, the need to eliminate time-consuming and repetitive manual tasks has created potential growth opportunities for RPA providers in the BFSI sector. RPA allows banks and financial institutions to stay competitive in the BFSI market.

The report emphasizes the participation of key entities, notably:

• Uipath SRL (U.S.)
• Automation Anywhere Inc. (U.S.)
• Nice Systems Ltd. (Israel)
• Pegasystems Inc. (U.S.)
• Blue Prism PLC (U.K.)
• Ipsoft, Inc. (U.S.)
• Celaton Ltd. (U.K.)
• Verint System Inc. (U.S.)
• OnviSource, Inc. (U.S.)
• Kofax Inc. (U.S.)
• FPT Software (Vietnam)
• EdgeVerve Systems Limited (India)
• Daythree Business Services Sdn Bhd (Malaysia)
• Kryon Systems (Israel)
• Genpact Ltd (U.S.)

Major Points in the Report

• Understanding the entirety of the robotic process automation in BFSImarket landscape thoroughly.
• Exploring the leading entities in this sector, delving into their range of products and core approaches.
• Examining the prominent geographical areas where robotic process automation in BFSImarket demonstrates significant growth.
• Keeping abreast of the latest shifts and advancements within the industry.
• Identifying specific areas or markets with high potential and promising expansion opportunities.

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Key Market Segmentation

By Type (Software and Services), Organization (Small and Mid-Size Enterprises (SMEs) and Large Enterprises), Application (Banking Financial Services and Insurance)

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