01 Aug RPA Software Market is Experiencing Exponential Growth
So why is the RPA (Robotic Process Automation) market booming? One of the main reasons is because RPA is a technology that liberates humans from having to do repetitive work and, in many cases, tedious and unproductive tasks. RPA software revenue grew 63% in 2018 to $846 million, making RPA the fastest growing segment of the global enterprise software market.
Far from slowing down or stagnating, Gartner expects RPA software revenues to continue to grow, to reach $1.3 billion this year.
Currently, the largest market is still North America, but Europe moves almost one in every 5 dollars of the RPA market (with a 23% share).
RPA FOR ALL INDUSTRIES
For companies striving to digitally transform, RPA technologies help to gain efficiency and speed when undertaking repetitive tasks. In turn, employees have more time to dedicate to more productive and profitable tasks for the company. That is precisely one of the bases for such growth. RPA software can be found in all industries however, the biggest adopters are banks, insurance companies, telecommunications and utility companies.
RPA IMPROVES WITH BPM
The ability to integrate with legacy systems is another key driver for RPA projects. By using this technology, organizations can quickly accelerate their digital transformation initiatives. Indeed, the implementation of RPA to end repetitive and mechanical tasks is fully compatible with systems that already exist in the business. Combining RPA with BPM is even more beneficial for companies. Not surprisingly, while RPA manages repetitive tasks at high speed, BPM guarantees a solid infrastructure of business and operational processes. Both technologies complement each other, since BPM orchestrates users, systems and data in a coordinated and efficient flow, while seamlessly integrating with RPA to ensure repetitive tasks are carried out at high speed.