According to a recent report from leading market analyst Gartner, the global robotic process automation (RPA) market grew by 63% in 2018, reaching around US$846 in revenues.
RPA is revolutionising back-end processes for firm’s worldwide, mopping up repetitive tasks and enabling staff to instead focus on value-added activities.
Gartner expects RPA revenues to reach a value of $1.3bn in 2019, with UiPath, Automation Anywhere and Blue Prism leading the pack with 13.6%, 12.8% and 8.4% of the market respectively.
“The RPA market has grown since our last forecast, driven by digital business demands as organizations look for ‘straight-through’ processing,” said Fabrizio Biscotti, Research Vice president at Gartner, in the report’s accompanying press release.
“Competition is intense, with nine of the top 10 vendors changing market share position in 2018.”
He added: “This is an exciting time for RPA vendors.
“However, the current top players will face increasing competition, as new entrants will continue to enter a market whose fast evolution is blurring the lines distinguishing RPA from other automation technologies, such as optical character recognition and artificial intelligence.”