Robotic Process Automation or commonly known as RPA is the future leader of the ever-growing enterprise software market. It has been observed by various leaders in the software sphere that the RPA will be ruling the market and the same is showcased by a recent Gartner report.
Gartner reported that robotic process automation (RPA) software revenue grew 63.1% in 2018 to $846 million, making it the fastest-growing segment of the global enterprise software market. Analyst at Gartner expects RPA software revenue to grow $1.3 billion in 2019.
Robotic process automation is a software-based solution in which there is not a physical robot. It often works in collaboration with artificial intelligence, however, is a distinct technology.
How RPA is capturing enterprise software market
RPA is leading the market and the top industry players are adopting it as they intend for continued growth and automation. These technologies are less expensive to implement than Artificial intelligence solutions and are also can be manifested with ease. Thus, it is easy to incorporate with the existing IT infrastructure.
RPA is being adopted by various industries in today’s times. Be it insurance companies, telephone companies, banks, financial institutions, and service providers, everyone is moving towards the RPA. These verticals have integrated the old systems with the RPA to cater to the needs of the future. Mingling old systems with the new RPA systems can help propel with the digital transformation plans and still utilize their existing systems that are in place.
According to Gartner, the RPA software is going to grow eventually to a massive number in the next three years. Companies like SAP, IBM, etc. are attaining RPA software facilitators. This is a clear indicator that RPA is going to capture a considerably large customer base in the future.
The RPA software market has grown about 63.1 percent in 2018 to about 846 million dollars. This is a great sign of prospects for the RPA software market. The RPA software is the clear leader of the software enterprise market.
There are several pros of the RPA apart from the technical advancements. They entail in the automation of processes that remove human error and also facilitate compliance to the embedded legal and regulations. RPA software helps to track events through workflows and use customer services and technical support also.
RPA is indeed a start of smarter technology and the way big companies are investing in this technology it is going to grow bigger by the day.