What happened to RPA during 2019 and what were the Actions taken by RPA Vendor Market Leaders?

After being considered as the fastest growing software category in 2018 Robotic Process Automation (RPA) solutions were highly relevant in 2019. Besides RPA, also “Intelligent Bots” equipped with Artificial Intelligence (AI) and cognitive learning solutions, had their big wave in the process automation industry in 2019. These new emerging automation solutions have led not only to significant growth but also to a market transformation during 2019. – The Merge of Robotic Intelligence

RPA (Robotic Process Automation) in 2019

By the end of 2019, 24% of large organizations in America and Europe have adopted RPA, in comparison to 9% small- and medium-sized organizations. Furthermore, the total revenue is forecasted to reach 1.5 billion US Dollars. On the other side, this strong growth was driven by average RPA prices decreasing by 10% to 15%. Also, cloud-based RPA products have become more relevant, since they are faster than using an on-premise solution. (Automation Anywhere presents: 7 predictions for the 2019 RPA market, 2019)

The booming point for IPA (Intelligent Process automation) solutions

Apart from structured data, companies are working with a great amount of approximately 80% (number growing) unstructured data. (Taylor 2019) For this reason, companies in recent years have looked out for solutions to automate processes involving unstructured data. Due to the significant development of technologies, such as Artificial Intelligence (AI) and cognitive learning, new opportunities emerged. 

Robots can now be equipped with cognitive features and fulfil the desire of companies to automate these data sets. Intelligent process automation technologies can eliminate 20% of service desk interactions and this is just the beginning. (Press, 2019) According to a survey conducted by the consulting company Deloitte in 2019, only 15% of respondents stated, that intelligent automation has been adopted at a functional level in their organization. (“How Companies Are Using Intelligent Automation to Be More Innovative”, 2019)

The increasing value of the market can also be illustrated by a comparison of the market value from 6 billion US Dollars (2018) to 8.2 billion in 2019. The market value rise of 2.2 billion US Dollars is also underlined by a Compound Annual Growth Rate of 16.9%. (Gartner. 2019)

The difference between Robotic and Intelligent process automation – RPA vs. IPA

It is important to understand the technologies and your process type to choose your automation tool accordingly. In Exhibit 1. You can see a comparison between RPA and IPA.

RPA Market Leaders’ Actions

The research institute Forrester has published a report, that provided an in-depth analysis of the RPA vendor market and how they reacted to the changes in 2019. Due to Artificial Intelligence and other innovative solutions, as described in the previous paragraphs, the market has taken a highly transformative view. The RPA vendor market leaders, UiPath, Blue Prism, and Automation Anywhere, also jumped on the bandwagon and broadened their product range in 2019 towards IPA. (Le Clair, 2019)   

New products from the vendors 

UiPath

  • AI integration fabric
  • Mobile Interface for Orchestrator 
  • Revamped robot community
  • Process-discovery collaboration tool
  • Text analytics tool

The current market leader UiPath, closing the year 2019 with a total investment of 500 million US Dollars after a Series D round, has recently announced an AI integration fabric, together with the native Microsoft Azure software. Also, their valuation has risen from 3 billion US Dollars in 2018 to 7 billion US Dollars in 2019. (Le Clair, 2019)

Blue Prism 

  • Blue Prism AI lab 
  • Digital Exchange (Intelligent automation “app store”) 

Blue Prism could not only expand its client base to more than 1,300 clients during 2019, but they also acquired Toughtonomy, an intelligent automation vendor to extend intelligent automation capabilities in the cloud. They also published the Blue Prism AI lab, which puts its first efforts in providing document-centric use cases, computer vision, and attended scenarios.

Automation Anywhere

  • IQBot with text analytics and handwriting recognition
  • Mobile phone app to manage bots

Whereas, Automation Anywhere could finally realize text analytics enhancements to IQBot, which adds support for handwriting recognition. Furthermore, with the opening of 40 new offices in 2019, the company was able to increase its global presence by covering all major geographical regions. 

What will the future bring to the process automation market?

In 2020, RPA will continue its market growth. The research institute Forrester has predicted the RPA market to a total volume of 2.9 billion in 2021. Also, cloud services that enable smaller companies to use RPA as well as IPA, will become commonly used. Gartner is estimating that by the year 2022, 20% of all RPA solutions will become cloud-based. IT and HR will be affected by increasing RPA implementations. (Gartner, 2019)

For intelligent process automation, strong market growth is predicted. (Casey, 2019) For the year 2020 Chris Huff, the Chief Strategy Officer at Kofax, predicts that tech leaders will more and more combine their initial RPA efforts, with Artificial Intelligence power solutions, which will enable companies to find new value in the workforce capacity and operational efficiency. By 2025, spending in the IPA market is expected to reach 232 billion US Dollars. (Casey, 2019) 

Summary

The relevance of RPA has increased again in 2019. The merge of AI and RPA delivers high-quality intelligent process automation solutions and an extension of the product range. Innovations opened new opportunities to enhance the performance of businesses and on the digital transformation journey. 


Reference

Automation Anywhere. AUTOMATION ANYWHERE PRESENTS: 7 PREDICTIONS FOR THE 2019 RPA MARKET An e-Book for Business Professionals Interested in Dramatically Improving Organizational Productivity with Automation.

Casey, Kevin. “Robotic Process Automation (RPA) in 2020: 5 Trends to Watch.” Enterprisersproject.Com, 2019, enterprisersproject.com/article/2019/12/rpa-robotic-process-automation-2020-5-trends?page=1. Accessed 19 Dec. 2019.

Gartner.“Gartner Says Worldwide Robotic Process Automation Software Market Grew 63% in 2018.” Gartner,2018,www.gartner.com/en/newsroom/press-releases/2019-06-24-gartner-says-worldwide-robotic-process-automation-sof(m(

Harvard Business Review,“How Companies Are Using Intelligent Automation to Be More Innovative – SPONSOR CONTENT FROM DELOITTE.” Harvard Business Review, 5 Dec. 2019, hbr.org/sponsored/2019/12/how-companies-are-using-intelligent-automation-to-be-more-innovative. Accessed 19 Dec. 2019.

Intelligent Automation: Impact on Workforce Worldwide 2019 | Statista.” Statista, Statista, 2019, static3.statista.com/statistics/1045022/worldwide-intelligent-automation-impact-workforce/. Accessed 18 Dec. 2019.

Le Clair, Craig, et al. “The Forrester WaveTM: Robotic Process Automation, Q4 2019.” Forrester.Com, 2019 The Forrester WaveTM: Robotic Process Automation, Q4 2019.” Forrester.Com, 2019

Press, Gil. “AI And Automation 2019 Predictions From Forrester.” Forbes, 9 Nov. 2018, www.forbes.com/sites/gilpress/2018/11/06/ai-and-automation-2019-predictions-from-forrester/#77d3f3164cb5.Accessed 19 Dec. 2019.

Proviti. “Taking Rpa to the next Level.” Proviti.Com, 2019, www.protiviti.com/sites/default/files/2019-global-rpa-survey-protiviti.pdf.

Reports and Data. “Intelligent Process Automation Market To Reach USD 20.7 Billion By 2026 | Reports And Data.” GlobeNewswire News Room, 24 Sept. 2019, www.globenewswire.com/news-release/2019/09/24/1920194/0/en/Intelligent-Process-Automation-Market-To-Reach-USD-20-7-Billion-By-2026-Reports-And-Data.html. Accessed 18 Dec. 2019.

Statista. “Intelligent Automation: Business Adoption Status Worldwide 2019 | Statista.” Statista, Statista, 2019, www.statista.com/statistics/1045009/worldwide-intelligent-automation-adoption-status/. Accessed 18 Dec. 2019

 “RPA Adoption and Investment Rates by Organization Size Worldwide 2019 | Statista.” Statista, Statista, 2019, www.statista.com/statistics/1017027/worldwide-robotic-process-automation-adoption-investment-rates-organization-size/. Accessed 18 Dec. 2019 

Taylor, Christine. “Structured vs. Unstructured Data.” Datamation.Com, 2018, www.datamation.com/big-data/structured-vs-unstructured-data.html. Accessed 19.12.2019

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