Over the last few years, robotic process automation (RPA) has been getting a lot of attention. It has come from “Look into it later” to “Need it now”. Every business would like to have a competitive advantage while increasing productivity, but trying to maintain that at the highest level is not easy. Well here comes RPA to make that all happen.
According to Gartner, Inc. RPA revenue grew 63.1% in 2018 to $846 million. Gartner expects RPA software revenue to reach $7.7 billion by 2021. RPA is expected to see a compound annual growth rate (CAGR) of over 36.2%, making it the fastest-growing segment of the software market.
A study from Deloitte reports that businesses that have launched RPA take them less than 12 months to achieve ROI. Close to 80% of businesses that currently have RPA implementation plan to significantly increase their investment in RPA in other areas of their business.
In 2017 99% of companies didn’t even know what RPA was. Today over 50% of business leaders have heard of RPA, but yet less than 5% have actually looked into seeing how it can benefit their company. By 2025 all of that will change.
Today those companies that have invested in RPA are learning how to move on from the rule-based, repetitive tasks, to finding ways to maximize their employees’ value. What might have been an experiment years ago is now a reality and 72% will start finding how RPA can be implemented in their business.
Before you run off trying to find ways on how RPA can work for your business reach out to an RPA consultant to help speed up the process. The faster you implement, the faster your company will succeed. Guaranteed!
Keep a lookout for my next blog – RPA 101 “The 6 steps to Robotic Process Automation Implementation Success”