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RPA Market Predicted to Grow at 60.5% CAGR During 2014 to 2020

Transparency Market Research published an extensive investigation of the Robotic Process Automation market and forecasts strong growth.

Robotic Process Automation is a fast-growing market. RPA is an automation software that mimics human behaviour in order to complete tasks. In our blog post: What is Robotic Process Automation we give an overview of how it works.

Numbers & Facts

In 2013, the IT Robotic Automation Maket was valued at 183.1 Million US$. According to the analysis of Transparency Market Research, it will continue to rise with a CAGR of 60.5% between 2014 and 2020.

Why RPA Will Grow

The key benefits of RPA are cost savings, increased efficiency compared to manual work, the possibility to use existing software without backend integration, and agility thanks to easy adaptability. 

With RPA, human employees are freed of repetitive, rote work. Robots can do these tasks faster, 24/7 and they can do more of them than a human could.

Early Adopters of RPA by Industry

RPA can be used by any industry, as long as the processes are structured and rules-based. Nonetheless, there are industries that have adopted RPA faster than others. Taking the numbers of 2013 as their baseline, Transparency Research predicts that finance and accounting as well as business process outsourcing are the segments and industries that will be the biggest and earliest adopters of RPA. Particularly the BPO Market will be the biggest growing user market for software-based process automation in the next 3 to 5 years.

RPA in Demand in the US and Europe in particular

Transparency Market Research sees the biggest growth potential for RPA in the US and Europe, with APAC (particularly India) as a close third.

The US, according to the research firm, is more open towards automation solutions. For them, the benefits of cost and efficiency stand out. Europe, on the other hand, will see growth thanks to the increase in nearshore models. In India, there already exists a network of IT and Outsourcing providers that could use this experience for Robotic Process Automation.

Division of the RPA Market

Transparency Market Research distinguishes the RPA providers between tools and services. Services include professional services (like consulting, Integration & Development as well as Business Process Outsourcing) and providers of training.

You can read the full report (95 pages) here.

ALMATO not only offers RPA software, but also extensive service. Consulting, process optimization and integration into your existing systems as well as training: we offer a complete package. 

If you want to know how you can use RPA in your company, contact us at info@almato.de or call us: +49 7121 14787 0.

Sara Gebhardt      28. October 2015

Author

Sara Gebhardt

Sara Gebhardt

Sara started working as Marketing Manager at ALMATO in 2015.

She has a M.A. in International Cultural and Business Studies. As part of a Double Degree Programme she spent a year in Scotland and wrote her thesis on What Would Bond Buy? An Investigation Into Young Consumers' Attitudes Towards Product Placement in Films.

After her studies, she moved to Belgium and worked for a software company as Business Developer for Germany and Spain, before moving back to her beautiful home city of Stuttgart. In her free time, she reads obsessively across all genres.