Companies are investing heavily in RPA software as it plays a key role in today’s digital transformation. Gartner predicts that global RPA software spending will reach $2.4 billion in 2022. Despite economic pressures caused by the COVID-19 pandemic, the RPA market is still expected to grow at double-digit rates through 2024.

What does this mean? Increased RPA revenue indicates that digital transformation is now a priority for organizations. Gartner predicts that 90% of large organizations globally will have adopted RPA in some form by 2022 as they look to digitally empower critical business processes through resilience and scalability while recalibrating human labor and manual effort.

“Gartner anticipates RPA demand to grow and service providers to more consistently pushing RPA solutions to their clients because of the impact of Covid-19,” says Cathy Tornbohm, distinguished research vice president at Gartner. “The decreased dependency on a human workforce for routine, digital processes will be more attractive to end-users not only for cost reduction benefits but also for ensuring their business against future impacts like this pandemic.”

What’s Driving this RPA Adoption?

“The key driver for RPA projects is their ability to improve process quality, speed, and productivity, each of which is increasingly important as organizations try to meet the demands of cost reduction during Covid-19,” said Fabrizio Biscotti, research vice president at Gartner. “Businesses can quickly make headway on their digital optimization initiatives by investing in RPA software, and the trend isn’t going away anytime soon.”

Large Organizations to Contribute the Most to the RPA Growth

Large organizations will triple the capacity of their existing RPA portfolios through to 2024. According to Gartner, the majority of “new” spending will come from large organizations that are purchasing new add-on capacity from their original vendor or partners within the ecosystem.

“As organizations grow, they will need to add licenses to run RPA software on additional servers and add additional cores to handle the load,” added Biscotti. “This trend is a natural reflection of the increasing demands being placed on an organization’s ‘everywhere’ infrastructure.”

Have You Embraced RPA?

With the growing popularity of automation and its benefits, Robotic Process Automation adoption is sure to skyrocket in the coming years. RPA is not an option anymore – it is becoming a necessity for modern enterprises to achieve their business objectives and foster a culture of innovation. Therefore, companies are leveraging RPA to grow exponentially.

Get in touch with FusionHawk today to transform your organization and realize the maximum value from RPA technology.