According to Gartner, robotic process automation (RPA) software will reach $2.9 billion by the end of 2022, a 19.5% jump in growth, but well below the 31% in 2021.
Gartner expects global sales of RPA software to grow by 17.5% annually through 2023.
RPA is an automation technology that relies heavily on artificial intelligence. It allows the user to create scripts (bots) to automate specific actions. While RPA relies on a combination of user interfaces, RPA mimics transaction steps within a process or workflow, including data manipulation, data transfer to and from applications, triggering responses and/or execution of transactions.
There are several reasons why companies need to adopt an RPA, including streamlining business processes and increasing productivity. The increasing adoption of RPA helps organizations automate repetitive manual tasks and free up employees for more strategic and value-added work.
“Technologies like RPA can be used to combine multiple interaction types with the UI interaction to complete a process flow which requires, for example data being manipulated from the internet, in mainframes and on client servers,” said Varsha Mehta, senior market research specialist at Gartner.
The sources for this piece include an article in TechRepublic.