A new report says automation spend by enterprises globally will increase dramatically in the next five years and RPA technology will account for more than half of it. Indian management and technology consultancy Zinnov says Covid-19 is an “inflection point” in the way companies are thinking about automation and RPA, which will result in a significant increase in enterprises’ investment in the tech.
The company views the category in terms of hyper intelligent automation and predicts compound annual growth in spending between now and 2025 of 55 percent, reaching $42 billion. Zinnov expects RPA to account for $25 billion of that, up from $3.6 billion annually right now.
According to the report, industries hit especially hard by stay-at-home orders resulting from Covid-19 including travel & hospitality, healthcare and retail, are unearthing new use cases for which RPA could provide help.
“The value that RPA/automation can unlock for enterprises on the other side of Covid-19 is gargantuan,” says Sidhant Rastogi, managing partner at Zinnov. “This pandemic has forced enterprises to leapfrog their automation journeys as they think beyond the present and future-proof their technology estates. This unprecedented growth in this segment has led service providers to invest in industry-specific RPA capabilities and platform partnerships to partake in enterprise automation-led transformative journeys.”