New Delhi, Aug 26 : The global robotic process automation (RPA) software and services market will reach $20.1 billion in 2030 which is up from $4.8 billion in 2021 the report said on Friday.Businesses in all industries accelerated their automation initiatives during the epidemic.
Because RPA is a relatively quick implementation process, it enables enterprises to advance their digital transformation efforts according to GlobalData the world’s leading analytics and data company.
“Covid-19 underscored the importance of the coordination of automation across the business.
This has led to the rapid growth of RPA in companies that shift away from standalone automatization capabilities to instead present RPA as part of an overall toolset of automation as well as artificial intelligence (AI) technologies, which allows the automation of end-to-end of more complicated procedures,” explained Nicklas Nilsson Consultant to thematic research at GlobalData.
RPA capabilities are becoming increasingly integrated in various tools for digital transformation and other services.
As a result, many RPA acquisitions have occurred in the past few of years.There were 159 mergers and acquisitions (M&A) deals between 2014 and 2021 with 2021 being the highest-volume year.
“Cloud and platform giants like Microsoft, ServiceNow and Salesforce have realized that budgets for software have shifted toward automation as well as RPA and have been eagerly turning to M&A to include RPA to their automation offerings,” Nilsson said.Nilsson.
RPA is expected to continue to draw attention in the coming years due to its importance in helping companies accelerate digital transformation as well as modernize traditional business processes.
“Integrating intelligent technologies such as AI and making it more accessible through low-code applications as well as cloud RPA will be high on the agenda moving forward for all businesses that want to become the preferred automated platform that is the one-stop shop around which all other platforms are focused,” Nilsson added.
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