Robotic Process Automation (RPA) Market is Expected to Grow 45-50% Over Next 2 Years—Everest Group
The adoption of RPA is increasingly being driven by factors beyond cost savings, with an emphasis on improving operational efficiencies and enhancing the customer experience.
January 19, 2021
Not only has the COVID-19 crisis exposed the inefficiencies of older business models, but it has also challenged the survival of companies that rely on manual operations. As a result, companies around the world are recognizing the importance of automation in ensuring business resilience, agility, and growth. According to Everest Group, the global software market for robotic process automation (RPA) had already exceeded $ 1,200 million by the end of 2019 and was seeing healthy pre-pandemic growth of over 75% year over year. Although the pandemic slowed growth in 2020, Everest Group expects RPA rollout to see a significant spike due to the crisis. Due to the pent-up demand for automation, the RPA market will grow at a CAGR of 45-50% over the next two years.
These and other insights are shared in Everest Group’s recently released report, “An Evolving Digital Workforce to Support People – Robotic Process Automation (RPA) as of Market Review 2021.” This study provides RPA buyers, software vendors and third party enablers (service providers, system integrators, etc.) with a detailed overview of the current market situation and analyzes it in different dimensions, including market size and acceptance trends as well as buyer expectations, main obstacles to the introduction and best practices of RPA, Solution features, product capabilities and trends, RPA provider landscape and outlook for 2021-22.
*** Download a free summary of the report. ***
- The adoption of RPA is increasingly being driven by factors beyond cost savings, with an emphasis on improving operational efficiency and enhancing the customer experience.
- The providers have increased their focus on developing and improving the online training portal and support forum in order to overcome travel restrictions due to the pandemic.
- Deployments in the cloud are rapidly growing in importance. To help companies take full advantage of the cloud, RPA providers are developing their products into a cloud-native architecture based on loosely coupled containerized microservices that can be scaled independently of one another.
- It is expected that the merger and acquisition activities will intensify further and that several large tech players will enter the provider landscape. The entry of big tech players leads to unlimited usage-based pricing models and puts price pressure on the market.
- Automation Anywhere, Blue Prism, and UiPath continue to dominate the market in terms of RPA software revenue. NICE, Pega, and UiPath are the top providers in terms of RDA / visited RPA license revenue.
About the Everest Group
Everest Group is a consulting and research company focused on strategic IT, business services, engineering services and procurement. Our customers include leading global companies, service providers and investors. Through our research-intensive insights and extensive experience, we guide clients on their journeys for improved operational and financial performance, accelerated time to value and impressive business results. Details and extensive content can be found at http://www.everestgrp.com/
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