Global RPA Spend to Reach US$ 2.4 Billion in 2022: Gartner

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RPA technology can help in productivity and improve client satisfaction, when combined with other artificial intelligence (AI) technologies

The spending on robotic process automation (RPA) software globally will reach US$ 2.4 billion in 2022, an increase from US$ 680 million in 2018, according to a latest report by global research and advisory firm Gartner.

Citing the reason for such an increase, the report says, “The rise in spending is mainly led by the necessity for organisations to quickly automate and digitise their legacy processes, along with enabling access to legacy applications through RPA.”

RPA implementations scaling up

Commenting on the findings, Saikat Ray, Senior Research Director at Gartner, said, “Organisations are adopting RPA when they have a lot of manual data integration tasks between applications and are looking for cost-effective integration methods.”

About 85 per cent of large and very large organisations will have deployed RPA in some form or the other, by the end of 2022, the research firm states.

In 2018, around 80 percent of organisations completed the proofs of concept (PoCs) and pilots. Now these organisations will target to scale RPA implementations and enhance spending on RPA in 2019, it adds.

Benefits of RPA

This highlights that the technology is feasible and has the anticipated impact. On the other hand, application leaders, who are new to this technology, should begin with a simple use case of RPA and work in coordination with the internal stakeholders to find out more applicable processes, the report mentions.

In addition, Gartner predicts that more organisations would slowly realise the benefits of RPA beyond cost optimisation. RPA technology can help in productivity and improve client satisfaction, when combined with other artificial intelligence (AI) technologies such as machine learning (ML), chatbots and applications that are based on natural language processing (NLP).

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