Global Spending on RPA Software to Reach $680 Mn in 2018: Gartner

- Advertisement -
- Advertisement -

It is estimated that 60 per cent of the organisations having revenues of over $1 billion will deploy RPA tools by this year end

Spending on robotic process automation (RPA) software globally is projected to reach US$ 680 million in 2018, recording a growth of 57 per cent year-on-year, said a latest report from global research and advisory firm Gartner, Inc.

Global spending on RPA software is estimated to reach a total of US$ 2.4 billion in 2022, the report stated.

- Advertisement -

Commenting on the findings, Cathy Tornbohm, Vice President, Gartner, said, “End-user organisations adopt RPA technology as a quick and easy fix to automate manual tasks. Some employees will continue to execute mundane tasks that require them to cut, paste and change data manually. But when RPA tools perform those activities, the error-margin shrinks and data quality increases.”

This emerging form of business process automation technology is majorly adopted by banks, insurance companies, utilities and telecommunications companies.

“Typically, these organisations struggle to knit together the different elements of their accounting and HR systems, and are turning to RPA solutions to automate an existing manual task or process, or automate the functionality of legacy systems,” stated Tornbohm.

Big organisations likely to adopt soon

According to Gartner’s report, it is estimated that 60 per cent of the organisations having revenues of over $1 billion will deploy RPA tools by this year end. By 2022, 85 per cent of large and very large firms will have deployed RPA in some form.

Citing the reason for RPA adoption, Tornbohm mentioned that the growth in adoption will be backed by decrease in average prices of RPA. The RPA prices are estimated to be decreased by 10-15 per cent by 2019. In addition, the adoption is also increased because organisations expect to achieve better business outcomes with the use of technology, like increased accuracy, reduced costs and improved compliance.

However, the research firm said, RPA is not a one-size-fits-all technology. There are various instances where alternative solutions for automation achieve better outcomes.

RPA solutions achieve best results when an organisation requires structured data for automating its prevailing processes or tasks, add automation functions to legacy systems and connect to external systems that can’t be linked through other options of IT, it added.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

“Our Goal is to Offer 1000 To 1500 Varieties, With Volumes Ranging From 10000...

0
During a chat with Nitisha Dubey from EFY, Mohammed Iqbal, CEO of Technomake Electronics Pvt Ltd, talks about PCB assembly and major customer focus...

India, China Grow Amid First Global Cellular IoT Module Shipments Annual Decline

0
Several companies started local manufacturing in India. 4G Cat 1 bis emerged as the fastest-growing segment. Around 12% of the modules shipped in...

“More Chargers Provide Security And Confidence To Customers, Encouraging EV Adoption”

0
With an agenda to transform the EV industry, EarthtronEV has established 250+ charging stations on major highways across India. The company aims to interconnect...

Buzz

TSMC

SmartSoC To Provide Chip Design Services Through TSMC’s Design Alliance

0
SmartSoC solutions will provide chip design services and system-level solutions, making it easier for customers to adopt TSMC's technology. Chip design services provider SmartSoC Solutions...

Montra Electric Boosts Amritsar’s Green Mobility with RAAHI Project

0
The initiative is a component of the City Investments to Innovate, Integrate, and Sustain (CITIIS) program, which falls under the auspices of the Ministry...

BYD Delays Vietnam EV Factory Plans

0
Vietnam's government announced in May that BYD plans to construct a facility for manufacturing and assembling electric cars in Phu Tho, a northern Vietnamese...

Important Sectors

Microchip Technology Expands TrustFLEX Family With CEC1736 Real-Time Platform Root Of Trust Devices

0
TrustFLEX devices along with the Trust Platform Design Suite tool will simplify the enablement of root of trust from concept to production in wide...
TSMC

SmartSoC To Provide Chip Design Services Through TSMC’s Design Alliance

0
SmartSoC solutions will provide chip design services and system-level solutions, making it easier for customers to adopt TSMC's technology. Chip design services provider SmartSoC Solutions...

India, China Grow Amid First Global Cellular IoT Module Shipments Annual Decline

0
Several companies started local manufacturing in India. 4G Cat 1 bis emerged as the fastest-growing segment. Around 12% of the modules shipped in...

Montra Electric Boosts Amritsar’s Green Mobility with RAAHI Project

0
The initiative is a component of the City Investments to Innovate, Integrate, and Sustain (CITIIS) program, which falls under the auspices of the Ministry...

BYD Delays Vietnam EV Factory Plans

0
Vietnam's government announced in May that BYD plans to construct a facility for manufacturing and assembling electric cars in Phu Tho, a northern Vietnamese...

Manufacturing

BYD Delays Vietnam EV Factory Plans

0
Vietnam's government announced in May that BYD plans to construct a facility for manufacturing and assembling electric cars in Phu Tho, a northern Vietnamese...

JLR To Hire 250 Electrical Technicians For Future EVs

0
These new roles, part of a £15 billion investment, are in addition to 300 positions created last year by the British car maker. Jaguar Land...

Altmin India Partners With WMG To Advance Battery Tech

0
Altmin and WMG will collaborate to strengthen their global battery materials supply chain position by optimizing cathode materials and developing diverse cell designs across...

EVs To Cost Less Than Gas Vehicles by 2027, Says Gartner

0
Gartner predicts a faster decline in production costs compared to battery costs, which represent the most significant expense in an electric vehicle, accounting for...
MG

MG Motor To Set Up Battery Assembly Unit At Halol Facility

0
The company plans to investigate battery cell production in collaboration with external partners. Automaker MG Motor India is actively exploring the possibility of assembling and...