How can RPA be revolutionary?

Automation is inevitable. As the technology of RPA is spreading more and more worldwide, its possibility to become a important part of businesses is converting into reality, which has given rise to a large amount of business investments in the sector. 

Let us have an year by year look at growth of RPA:

In 2018, the RPA market grew by 63.1% to $153 million,which means it the fastest-growing sector in the market of software. 

"If we were to segment all of the major enterprises and ask them what's on their agenda for 2018, close to 100 percent would say intelligent automation," This was the statement given by Regina Viadro, vice president at EPAM Systems and adviser of the company’s IA practice.

2019 was the year where we crossed the tipping point for the implementation of robotic process automation (RPA). A recent report from Futurum Research discovered that more than half of North American businesses today have adopted intelligent automation.  

These findings show us that robotic process automation is not an emerging technology now but rather a inseparable part for businesses, driving great value because of its ability to automate tasks which can be assigned to bots so that humans can focus on work which gives result to their efforts and drive them satisfaction.

Justin Watson, global robotic and intelligent automation leader at Deloitte, said “2020 looks to be a breakout year for intelligent automation, as organisations combine robotic process automation with artificial intelligence and other technologies to enable new ways of working. So, before you go any further with your RPA implementation, ensure that your data is RPA-ready. Otherwise, you will fail at the first hurdle." So, from this statement it is clear that RPA is not a technology which will be forgetted by everyone after 2-3 years. RPA is here to stay and rule.

Forrester Research estimates that the value of the global RPA market will exceed $2.9 billion by 2021. A study also predicted that by the year 2025, 35% of all jobs will be automated. The next decade is very crucial for RPA as it is the time where half of the world will be adopting it. We will see a significant RPA execution in our daily lives also in the near time. 

The market of RPA is growing at a tremendous rate and there is no chance of this growth to slow down. RPA is definitely a revolutionary technology which can redesign the workflow very efficiently with its automation, accuracy, agility, cost reduction, and better ROI model.