But does the data back up this reputation?<\/p>\n\n\n\n
Let\u2019s find out. But before we begin…<\/p>\n\n\n\n
A quick definition of RPA<\/strong><\/h2>\n\n\n\n![\"automation](\"https:\/\/www.walkme.com\/blog\/wp-content\/uploads\/sites\/2\/2019\/03\/shutterstock_326441093-1.jpg\")
<\/figure><\/div>\n\n\n\nRPA refers to software programs, or \u201crobots,\u201d that can be easily programmed to perform tedious, repetitive, or mundane tasks. Data manipulation is one common example \u2014 filling in forms, updating spreadsheets, and so on.<\/p>\n\n\n\n
These software robots are distinct from AI<\/a>, in that they cannot learn.<\/p>\n\n\n\nInstead, humans program them with a specific task, which can then be repeated by the robot as much as needed.<\/p>\n\n\n\n
One real-world example<\/a> is of a bank that deployed 85 bots to handle 1.5 million claims requests per year. This resulted in the equivalent of 200 full-time employees at 30% of the cost.<\/p>\n\n\n\nThis type of ROI has fueled RPA\u2019s explosive growth in recent years, but this example is just the tip of the iceberg.<\/p>\n\n\n\n
Dive Deeper: How Robotic Process Automation Can Unleash Higher Employee Productivity<\/a><\/strong><\/em><\/p>\n\n\n\nHere\u2019s the gist<\/strong><\/h2>\n\n\n\nWe have collected nine robotic process automation statistics that exhibit the technology\u2019s value potential. <\/p>\n\n\n\n
When reviewing the statistics below, you\u2019ll learn that:<\/p>\n\n\n\n
- RPA delivers significant ROI, productivity gains, cost savings, and more<\/li>
- Investment in RPA is exploding across multiple sectors<\/li>
- In a few years time, RPA will become ubiquitous<\/li><\/ul>\n\n\n\n
9 robotic process automation statistics that show it\u2019s exploding<\/strong><\/h3>\n\n\n\nHere are nine statistics that show RPA is an accelerating trend:<\/p>\n\n\n\n
- RPA as an industry is growing exponentially<\/strong> \u2013 Forrester<\/a> predicts it will grow from $250 million in 2016 to $2.9 billion in 2021<\/li>
- Grand View Research<\/a> expects growth from $358 million in 2017 to $3.11 billion in 2025<\/strong><\/li>
- According to Deloitte’s third annual RPA survey<\/a>, a wealth of information on RPA, 53% of survey respondents are beginning their “RPA journey”<\/strong><\/li>
- Among respondents who are implementing RPA now, 78% plan to invest even more in the next 3 years<\/strong><\/li>
- Deloitte believes that if this trend continues, RPA will achieve “near universal adoption” in the next 5 years<\/strong><\/li>
- Among those surveyed, RPA meets and exceeds expectations in terms of compliance, quality, accuracy, productivity, and cost reduction<\/strong><\/li>
- Interestingly, Deloitte reports that employee resistance<\/a> is low among adopting organizations<\/strong> \u2013 only 17% report resistance from employees.<\/li>
- However, despite the drive and growth of RPA, scaling is still a challenge for adopters<\/a> \u2013 only 3% of organizations have scaled to 50 or more robots<\/strong><\/li>
- One case study by SSCON<\/a> found that scalability, however, was “unbeatable” \u2013 the robotic workforce could be “doubled almost instantly” prior to product launches <\/strong><\/li><\/ol>\n\n\n\n
These numbers demonstrate that RPA is growing as an industry.<\/p>\n\n\n\n
However, they don\u2019t tell us about potential returns.<\/p>\n\n\n\n
Is RPA worth the investment?<\/strong><\/h3>\n\n\n\n![\"software](\"https:\/\/www.walkme.com\/blog\/wp-content\/uploads\/sites\/2\/2019\/03\/shutterstock_446643121-1.jpg\")
<\/figure><\/div>\n\n\n\nIt\u2019s clear that RPA is a growing trend.<\/p>\n\n\n\n
The question on most executives\u2019 minds is \u2013 is RPA worth the investment?<\/p>\n\n\n\n
Other RPA statistics show clear benefits:<\/p>\n\n\n\n
- Some have reported extensive ROI gains, such as Everest Group<\/a>. In one study, they found that top performers earned nearly 4X on their RPA investments, while other enterprises earned nearly double<\/strong>.<\/li>
- NASSCOM<\/a> reports extensive cost savings of up to 65% for onshore operations, 30% in offshore delivery, and investment recovery in as short as 6 months<\/strong>.<\/li>
- And the Institute for Robotic Process Automation claims that RPA software robots cost much less than human full-time employees \u2013 around one-fifth the cost of onshore workers and one-third the price of offshore workers<\/strong>.<\/li><\/ul>\n\n\n\n
Given these numbers, it is no wonder that enterprise investment in RPA is soaring.<\/p>\n\n\n\n
Discover why WalkMe is the preferred enterprise automation tool. Request a demo.<\/a><\/strong><\/em><\/p>\n\n\n\nRPA statistics show that funding is also on the rise<\/strong><\/h3>\n\n\n\nWhen examining the RPA industry, we can also look at funding for RPA companies to gauge the growth of this technology:<\/p>\n\n\n\n
- UIPath<\/a> has raised almost $450 million in funding<\/li>
- Automation Anywhere has raised $550 million<\/li>
- And Blue Prism (the company that helped coin the term RPA) will issue new stock to raise $130 million in funds<\/li>
- Workfusion<\/a> has received more than $121 million in total funding<\/li>
- Other companies, such as Antworks and SaltStack, have received upwards of $15 million and $28 million, respectively.<\/li><\/ul>\n\n\n\n
An interesting aspect of Blue Prism’s story is its planned implementation of AI.<\/p>\n\n\n\n
In the future, this could assist with more complex automation tasks, further enhancing the benefits of RPA.<\/p>\n\n\n\n
This type of automation \u2013 intelligent automation (IA) or cognitive process automation \u2013 has many people worried about job replacement.<\/p>\n\n\n\n
Others, however, claim that this frees humans from performing repetitive, mundane tasks. Instead, RPA gives them more time to perform more meaningful work.<\/p>\n\n\n\n
Despite this controversy, the benefits of RPA<\/a> are still driving its mass adoption.<\/p>\n\n\n\nRPA will gain an even stronger foothold in the near future<\/strong><\/h2>\n\n\n\nRPA is clearly growing at an accelerated pace.<\/p>\n\n\n\n
Despite conflicting predictions about market size in the coming years, it is clear that RPA will become more and more dominant.<\/p>\n\n\n\n
Today, a slew of companies are already using RPA \u2013 AT&T, Gamestop, and Verizon, to name a few. And smaller companies are following suit.<\/p>\n\n\n\n
As the technology continues to grow, we can bigger RPA benefits<\/a>, more scaling, and more possibilities.<\/p>\n\n\n
<\/figure><\/div>\n\n\n\nRPA refers to software programs, or \u201crobots,\u201d that can be easily programmed to perform tedious, repetitive, or mundane tasks. Data manipulation is one common example \u2014 filling in forms, updating spreadsheets, and so on.<\/p>\n\n\n\n
These software robots are distinct from AI<\/a>, in that they cannot learn.<\/p>\n\n\n\n Instead, humans program them with a specific task, which can then be repeated by the robot as much as needed.<\/p>\n\n\n\n One real-world example<\/a> is of a bank that deployed 85 bots to handle 1.5 million claims requests per year. This resulted in the equivalent of 200 full-time employees at 30% of the cost.<\/p>\n\n\n\n This type of ROI has fueled RPA\u2019s explosive growth in recent years, but this example is just the tip of the iceberg.<\/p>\n\n\n\n Dive Deeper: How Robotic Process Automation Can Unleash Higher Employee Productivity<\/a><\/strong><\/em><\/p>\n\n\n\n We have collected nine robotic process automation statistics that exhibit the technology\u2019s value potential. <\/p>\n\n\n\n When reviewing the statistics below, you\u2019ll learn that:<\/p>\n\n\n\n Here are nine statistics that show RPA is an accelerating trend:<\/p>\n\n\n\n These numbers demonstrate that RPA is growing as an industry.<\/p>\n\n\n\n However, they don\u2019t tell us about potential returns.<\/p>\n\n\n\n It\u2019s clear that RPA is a growing trend.<\/p>\n\n\n\n The question on most executives\u2019 minds is \u2013 is RPA worth the investment?<\/p>\n\n\n\n Other RPA statistics show clear benefits:<\/p>\n\n\n\n Given these numbers, it is no wonder that enterprise investment in RPA is soaring.<\/p>\n\n\n\n Discover why WalkMe is the preferred enterprise automation tool. Request a demo.<\/a><\/strong><\/em><\/p>\n\n\n\n When examining the RPA industry, we can also look at funding for RPA companies to gauge the growth of this technology:<\/p>\n\n\n\n An interesting aspect of Blue Prism’s story is its planned implementation of AI.<\/p>\n\n\n\n In the future, this could assist with more complex automation tasks, further enhancing the benefits of RPA.<\/p>\n\n\n\n This type of automation \u2013 intelligent automation (IA) or cognitive process automation \u2013 has many people worried about job replacement.<\/p>\n\n\n\n Others, however, claim that this frees humans from performing repetitive, mundane tasks. Instead, RPA gives them more time to perform more meaningful work.<\/p>\n\n\n\n Despite this controversy, the benefits of RPA<\/a> are still driving its mass adoption.<\/p>\n\n\n\n RPA is clearly growing at an accelerated pace.<\/p>\n\n\n\n Despite conflicting predictions about market size in the coming years, it is clear that RPA will become more and more dominant.<\/p>\n\n\n\n Today, a slew of companies are already using RPA \u2013 AT&T, Gamestop, and Verizon, to name a few. And smaller companies are following suit.<\/p>\n\n\n\n As the technology continues to grow, we can bigger RPA benefits<\/a>, more scaling, and more possibilities.<\/p>\n\n\nHere\u2019s the gist<\/strong><\/h2>\n\n\n\n
9 robotic process automation statistics that show it\u2019s exploding<\/strong><\/h3>\n\n\n\n
Is RPA worth the investment?<\/strong><\/h3>\n\n\n\n
<\/figure><\/div>\n\n\n\nRPA statistics show that funding is also on the rise<\/strong><\/h3>\n\n\n\n
RPA will gain an even stronger foothold in the near future<\/strong><\/h2>\n\n\n\n