According to the latest forecast from Gartner, Inc. global robotic process automation (RPA) software revenue is expected to reach $2.9 billion by 2022, an increase of 19.5% from 2021.
“By achieving a 31% growth rate in 2021, the RPA market grew well above the average global software market growth rate of 16%,” said Cathy Tornbohm, distinguished VP analyst at Gartner. “Organizations are leveraging RPA to accelerate business process automation initiatives and digital transformation plans, linking their old nightmares to their digital dreams to improve operational efficiency.”
Although growing more slowly than previous years, the global RPA software market is expected to experience double-digit growth in 2023, growing at 17.5% year-over-year (see Table 1).
Table 1. Global RPA Software Revenue Forecast (Millions of US Dollars)
|
|
2021
|
2022
|
2023
|
|
Revenue
|
2.389
|
2854
|
3,352
|
|
Grow (%)
|
30.9
|
19.5
|
17.5
|
Source: Gartner (August 2022)
“RPA companies are rapidly evolving to offer a broader range of larger automation platforms. Organizations will seek to increase their spending on RPA software solutions as they still have a lot of repetitive, manual work that automation could free up employees’ time to focus on more strategic work,” the organization said. Varsha Mehta, senior market research specialist at Gartner.
Competing RPA vendors and many software vendors are moving beyond a traditional single-technology offering to a more advanced suite of tools that bring low-code application platforms, process mining, task mining, decision modeling, iPaaS, computer vision, and IDP capabilities to the top of their game. existing RPA offering. This makes them ready to offer an all-encompassing technology platform that enables hyper-automation.
In fact, Gartner predicts that pushing for a state of hyper-automation by 2024 will push organizations to adopt at least three of the 20 process-independent types of software that enable hyper-automation.
Regional perspective
North America, Western Europe and Japan together will account for 77% of the global RPA sales market in 2022. North America will account for the largest share of sales with 48.5%, followed by Western Europe and Japan with 19 % and 10%, respectively.
Gartner customers can read more in “Forecast: Enterprise Infrastructure Software, Worldwide, 2020-2026, 2Q22 Update.”
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