The robotic process automation market is expected to grow to $19.33 billion in 2028 at a compound annual growth rate (CAGR) of 27.6%. This growth is attributed to the increasing demand for automation of business processes, trends towards industry 4.0, rising use of RPA for regulatory reporting in the BFSI industry, expansion of the retail sector, and the need for cost-effective and efficient business processes. Major trends in the forecast period include the development of robotic process (RPA)-enabled self-learning conversational chatbots, integration of new technologies with RPA software, and adoption of advanced technologies like cloud, AI and machine learning. Major companies operating in this market include Microsoft Corporation, International Business Machines Corporation, Salesforce Inc., Xerox Corporation, Nice Systems Ltd., FPT Software, Pegasystems Inc., UiPath Inc., Verint Systems Inc., EdgeVerve Systems Ltd. and BlackLine.
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