Robotic process automation (RPA) technology typically uses artificial intelligence to handle repetitive, rules-based, back-office tasks. And the market is about to experience a period of “explosive” growth, according to an Everest Group study.
The RPA market grew 64 percent to $200 million last year and is expected to grow 70 to 90 percent by 2018 because successful pilot projects are inspiring buyer confidence in the technology, the consulting and research firm reports.
Why are RPA pilot projects successful? The Everest Group report says RPA projects save money, recoup the investment in just six to nine months, and don’t require major IT architecture changes or deep integration with underlying systems.
However, there are some barriers to adoption, such as IT departments concerned about data security and loss of control. Plus, “replacing staff with robots in some sectors, such as government, could become a political minefield,” the report says.
The 25-page report also covers the following topics:
- The business case for RPA
- Key lessons learned by early adopters
- International trends in RPA adoption
- The RPA vendor landscape
- Predictions for 2017-2019
Register now to download the complimentary Everest Group report: “Robotic Process Automation: State of the Market”