Global RPA software and services market will be worth $20.1 billion in 2030, up from $4.8 billion in 2021, according to research firm ResearchAndMarkets.com in their report “Robotic Process Automation – Thematic Research”.
The analysts define Robotic Process Automation (RPA) as software that can be programmed to perform basic tasks across a range of platforms and applications. Businesses in virtually every industry accelerated their automation efforts during the pandemic. For some, RPA allowed them to reimagine how they work, while others used RPA to ensure business continued as usual. “RPA is not a technology for a dystopian future; it is here and has attracted the attention of leaders and executives. The time for investing in RPA was yesterday.”
Key Highlights of the report are the way COVID-19 highlighted the necessity of coordinating automation across a business. This has accelerated the development of RPA as companies move away from stand-alone automation capabilities and offer RPA as part of a broader toolkit of automation and artificial intelligence (AI) technologies, allowing for end-to-end automation of more complex business processes.
Also, RPA has evolved into intelligent automation, wherein AI and other business process technologies-such as low-code development tools, process mining, intelligent document processing, and business process management (BPM)-are combined with RPA to facilitate enterprise-wide automation initiatives.