Enterprise RPA Adoption to Hit $2.5 billion by 2020, says Study

RPA, RPA adoption, Robotic Process Automation, robots, telecom, software, BFSI, robotic desktop automation, ceo, cto
Enterprise RPA Adoption to Hit $2.5 billion by 2020, says Study

Organizations are increasingly investing in RPA. However, the majority of them are facing challenges while scaling in the early adoption phase.

By 2020, there will be around 0.8 million unattended Robotic Process Automation robots running on cloud and on-premise servers, according to the latest report from the Everest Group. The market is expected to hit $2.5 billion and grow at a CAGR of 70-85% between 2018 and 2020.

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The number of robotic desktop automation (RDA) robots running on users’ desktops will hit around 2.5 million by 2020. As per the report, enterprise RPA adoption recorded an increase of 100-110% from 2017 to 2018, surpassing $1 billion. In 2018, 68% of the revenue earned in the RPA software vendor market came from RPA software licenses. The RPA customer base is growing across an array of industries, geographies, and organization sizes. 

Lack of talented resources and difficulty in managing organizational change are some of the main pain points enterprises are experiencing while adopting RPA. Moreover, there is a lack of robust RPA strategy and roadmap. Enterprises are striving to identify use cases to maintain a healthy automation pipeline. As per the report, industry-specific processes continue to see the highest adoption. BFSI and telecom accounted for more than half of the overall RPA software market. Meanwhile, manufacturing and travel and logistics witnessed significant traction among public sector organizations.

Providing market insights, the report revealed that North America has the majority of the RPA market, but APAC is also witnessing a growth. The operational impact is said to be the most critical factor driving adoption as per the majority of the companies. The impact of cost is also supporting the RPA adoption.

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Vendors are making training more accessible and investing a significant sum in enhancing the customer experience. They are expanding their solutions by joining up with service providers and technology vendors. Finally, enterprises are sharing best practices to help their peers advance and improve the adoption of RPA.

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Sneha Bokil is a Senior Editor with OnDot Media. She writes editorials on an array of topics ranging from IoT, AI, ML, and cloud computing, among others. She has over 9 years of experience in the field of content creation, where she has written on technology, both enterprise and consumer, and finance.