South and Central America Robotic Process Automation Market Opportunities by 2028

The South and Central America robotic process automation market size is expected to grow from US$ 115.3 million in 2021 to US$ 1,145.2 million by 2028; it is estimated to grow at a CAGR of 38.8% during 2021–2028.

Robotic process automation (RPA) distinguishes itself from traditional IT automation as it can capture and interpret the actions of specific processes in existing software applications. Also, it can manipulate data, trigger responses, initiate new actions, and communicate with other systems autonomously. Large and small companies can gain benefit from RPA by expediting back office and middle office tasks in a wide range of industries, such as insurance, finance, procurement, supply chain management (SCM), accounting, customer relationship management (CRM), and human resource management (HRM).

Impact of COVID-19 Pandemic on South and Central America Robotic Process Automation Market

Before COVID-19 pandemic, the demand for robotic process automation (RPA) was rising, owing to the growth of the e-commerce sector in SAM countries. With 649 million people living in SAM and mobile subscribers making up 68% of the population, there is significant potential for growth across the region. Along with these digitally-connected consumers and SAM is one of the fastest-growing e-commerce markets in the world, comes significant potential in the region. For instance, in 2019, over 150 million South Americans had bought goods and services online, while retail sales alone had surpassed approximately US$ 84.7 billion by 2019, according to the article published by Crunchbase Inc. in December 2019. Thus, the need for RPA in the e-commerce sector had supported the South and Central America robotic process automation market growth in 2019.

South and Central America Robotic Process Automation Market Insights

Increasing BPO and Shared Services

Fuels Growth of South and Central America Robotic Process Automation Market

Robotics and automation are disruptively transforming the way businesses function. Presently, more than half of BPO (business process outsourcing) service providers across the world are engaged in mere replication of client processes at reduced costs. Also, the rapidly advancing technological environment imposes constant pressure on BPOs, as their conventional methods become obsolete over the years. RPA innovations and increasing BPO and shared services aim to minimize human involvement. They would retool their business models to reflect higher service levels, such as cost reduction and enhanced cycle speed. This refurbished business model of BPOs will have to incorporate RPA products, further boosting the South and Central America robotic process automation market growth.

Component-Based South and Central America Robotic Process Automation Market Insights

South and Central America Robotic Process Automation Market

Industry Vertical-Based South and Central America Robotic Process Automation Market Insights

The South and Central America robotic process automation market analysis by industry vertical, is segmented into BFSI, retail, telecommunication, healthcare, transportation & logistics, and others. All these industries are growing at a considerable growth rate. The telecommunication segment accounted for the largest South and Central America robotic process automation market share in 2020 due to the rising adoption of RPA in the telecommunication industry to reduce operational costs and improve overall customer satisfaction.

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South and Central America Robotic Process Automation Market: Strategic Insights

South and Central America Robotic Process Automation Market

• Market Size 2021
  US$ 115.3 Million
• Market Size 2022-2028
  US$ 1,145.2 Million

Market Dynamics

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Regional Overview

• South and Central America

Market Segmentation

Component

• Solutions and Services

Industry Vertical

• BFSI
• Retail
• Telecommunication
• Healthcare
• Transportation & Logistics

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The players operating in the South and Central America robotic process automation market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key market players are listed below:

• In January 2022, QBE, the global insurer, adopted Pega's RPA solution to improve and enhance its efficiency in clients experience and the department of credit control. The solution helped QBE to save around 50,000 hours of its employees, enabling them to focus on productive solutions rather than spending time on doing administrative work.
• In September 2021, Atos and IBM Corporation announced plans to expand their global relationship to help banks and insurance companies address their increased security and regulatory compliance demands when moving their workloads and applications to the cloud. Along with this, Atos also offers automation services including robotic process automation, AI-driven intelligent workflows, and business processes reengineering, accelerated by IBM Cloud Pak for data and IBM Cloud Pak for integration.

Company Profiles

• Growtec
• Atos SE
• NICE Ltd.
• AUTOMATIONEDGE
• Pegasystems Inc.
• SAP SE
• Blue Prism Group
• HelpSystems
• UiPath
• IBM Corporation

South and Central America Robotic Process Automation Market Report Scope

Report Attribute	Details
Market size in 2021	US$ 115.3 Million
Market Size by 2028	US$ 1,145.2 Million
CAGR (2021 - 2028)	38.8%
Historical Data	2019-2020
Forecast period	2022-2028
Segments Covered	By Component Solutions and Services By Industry Vertical BFSI Retail Telecommunication Healthcare Transportation & Logistics
Regions and Countries Covered	South and Central America Brazil Argentina Rest of South and Central America
Market leaders and key company profiles	Growtec Atos SE NICE Ltd. AUTOMATIONEDGE Pegasystems Inc. SAP SE Blue Prism Group HelpSystems UiPath IBM Corporation