New Delhi, Aug 26 (SocialNews.XYZ) The global robotic process automation (RPA) software and services market will be worth $20.1 billion in 2030, up from $4.8 billion in 2021, a report said on Friday.
Businesses in nearly every industry have accelerated their automation efforts during the pandemic. Because RPA is a relatively quick solution to implement, it allows businesses to make strides in their digital transformation efforts, according to GlobalData, a leading data and analytics company.
“Covid-19 has highlighted the need to coordinate automation across a business. It has accelerated the development of RPA as companies move away from stand-alone automation capabilities and instead offer RPA as part of a wider toolkit of automation and artificial intelligence (AI) technologies , which allow for end-to-end automation of more complex business processes,” explains Nicklas Nilsson, consultant for thematic research at GlobalData.
RPA capabilities are increasingly embedded in various digital transformation tools and services.
As a result, several RPA acquisitions have occurred in the past two years. There were 159 RPA-related mergers and acquisitions (M&A) deals between 2014 and 2021, with 2021 being a record year.
“Cloud and platform giants like Microsoft, ServiceNow and Salesforce have recognized that software budgets are shifting towards automation and RPA and are eagerly turning to M&A to add RPA to their automation portfolios,” Nilsson said.
RPA will continue to attract attention in the coming years for its role in helping businesses accelerate digital transformation and modernize traditional business processes.
“Integrating smart technologies like AI and making technology more accessible with low-code tools and cloud RPA will be high on the future agenda for all companies aspiring to be the go-to, one-stop-shop automation platform where everything else is centered,” Nilsson added.
Source: IANS
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