Research from Gartner revealed that RPA revenue is expected to reach $90.4 million in 2021 thanks to increased interest stemming from the COVID-19 restrictions and the ensuing recession.
The research firm cited tight budgets and challenges with outsourcing business processes offshore for the increase in demand, with more of its own clients inquiring about ways to automate business processes.
The growth in Australia mirrors the global trend, with revenues expected to reach US$1.89 billion in 2021, an increase of 19.5 percent from 2020.
Global revenue this year is expected to reach $1.58 billion, an 11 percent increase from 2019. RPA software prices are also expected to decrease 10 percent to 15 percent, with annual 5 percent to 10 percent decreases expected in 2021 and 2022, creating strong downward pricing pressure.
Gartner research vice president Fabrizio Biscotti said, “The key driver for RPA projects is their ability to improve process quality, speed and productivity, each of which is increasingly important as organisations try to meet the demands of cost reduction during COVID-19.”
“Enterprises can quickly make headway on their digital optimisation initiatives by investing in RPA software, and the trend isn’t going away anytime soon.”
Gartner also expects 90 percent of large organisations globally will have adopted RPA in some form by 2022.
Gartner distinguished research vice president Cathy Tornbohm said, “Gartner anticipates RPA demand to grow and service providers to more consistently push RPA solutions to their clients because of the impact of COVID-19.”
“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 insuring their business against future impacts like this pandemic.”
The findings are similar to IDC’s own research published in August, saying demand would be driven by organisations shifting from crisis mode to recovery mode as they look to improve productivity and increase business resiliency.