Asia-Pacific Robotic Process Automation Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Posted April 18, 2021 by Statzyreports

The robotic process automation market in the Asia-Pacific region is expected to witness a CAGR of 29.1% during the forecast period.
The robotic process automation market in the Asia-Pacific region is expected to witness a CAGR of 29.1% during the forecast period. Factors, such as rapid economic growth, coupled with the adoption of modern technologies in countries like China and India, increasing investment in infrastructure, and business outsourcing, are driving the demand for RPA in the region.

- The need to automate complex procedures of handling the business processes across multiple industries, ease of doing business, decreasing cost of automation software and services is driving the adoption of RPA in the region.

- According to the International Federation of Robotics "World Robotics Report 2018", globally, robot density is highest in South Korea with 710 robots per 10,000 manufacturing employees in the country. Singapore comes second with 658 robots per 10,000 manufacturing employees.

- Increasing startups and expansions in the region are expected to create opportunities for the market. For instance, in February 2020, Laiye, a Chinese startup that provides RPA services to various major tech firms in the nation and government agencies, raised USD 42 million in the new funding round, as it looks to scale its business. The new financing round, Series C, was co-led by Lightspeed Venture Partners and Lightspeed China Partners.

- The outbreak of COVID-19 will only boost the adoption of RPA in the region as businesses become more automated in the future to minimize the risk of production shutdown in case of an epidemic. Moreover, robots are playing a crucial role in fighting coronavirus SARS-CoV-2. For instance, according to IFR, Chinese hospitals have ordered more than 2,000 disinfection UVD robots by Danish manufacturer Blue Ocean Robotics. These robots move autonomously around patient rooms covering all critical surfaces with the right amount of UV-C light to kill viruses.

Key Market Trends

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Manufacturing Sector will Drive the Market Growth

- Manufacturing is one of the prominent features of the Chinese economy, and it is undergoing rapid transformation. This large-scale transformation has aided the country in being a leading nation in the manufacturing market, globally.

- According to the National Development and Reform Commission (NDRC), Chinese investment in the high-tech manufacturing industry expanded in the first eight months of 2019. From January 2019 to August 2019, the investment grew 12% year-on-year, quickening 0.9% points from that in the January-July period.
- The use of robots in the electrical and electronic equipment manufacturing industry is also driving the market in the region. Programs like 'Make in India' have attracted companies like Samsung Electronics, which has opened the world's largest mobile phone factory with the capacity to produce 120 million units a year in Noida, India.

- Moreover, China is the largest car market in the world, and automotive manufacturing in the region is expected to drive the demand for robotic process automation.

China to Hold the Largest Market Share

- China is witnessing growth in the adoption of RPA, owing to the growing adoption of automation technologies in the Asia-Pacific region. The country is an essential market for boosting RPA adoption and AI development. Currently, an increasing number of local Chinese businesses have started their RPA journey to manage costs and to improve business value.

- As part of its effort to upgrade its manufacturing sector, the Chinese government started a campaign in 2014 with the overall aim, which gradually replaces manual labor with robots, along with the heavily industrialized provinces of Jiangsu, Zhejiang, and Guangdong among those introducing the new technology on the massive scale.
- In 2018, the city Government of Dongguan allocated CNY 385 million to boost automation in factories. To stay ahead of its competitors, manufacturers are adopting technologies, such as RPA.

- Moreover, organizations are taking initiatives to augment the growth of RPA in other industries. For instance, in December 2019, PwC China announced the opening of its RPA Center of Excellence (CoE) in Qianhai, Shenzhen. The first RPA CoE in China aims to support and accelerate customers' adoption of Blue Prism’s connected-RPA software.

Competitive Landscape

The Asia-Pacific robotic process automation market is moderately competitive and consists of several players. These companies are leveraging on strategic collaborative initiatives to increase their market share and profitability. Major players include Automation Anywhere Inc., Blue Prism Group PLC, and AntWorks Pte Ltd, among others.

- October 2019 - Automation Anywhere, a global vendor in RPA, announced that the company would expand operations into the Greater China Region (GCR) with the opening of various regional offices.

- February 2019 - Datamatics partnered with Mumbai Metro for automated fare collection contract for Metro Line 2A, 2B, and 7. The consortium led by Datamatics Global Services Limited (DGSL) and AEP Ticketing solutions SRL, Italy (AEP), issued the letter of acceptance (LOA) for implementing automatic fare collection (AFC) system for 52 stations of Mumbai Metro.

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Tags robotic process automation market , robotic process automation market size , robotic process automation market share , robotic process automation market forecast , robotic process automation market Trends , robotic process automation market growth , robotic process automation market Analysis , COVID-19 Impact
Last Updated April 18, 2021