According to new data from research agency Gartner, the market for Robotic Process Automation (RPA) is the fastest growing market for enterprise software. In the past year, the market grew by 63 percent. The overall RPA market is now worth 846.2 million dollars (743.3 million euros), writes TechCrunch.
RPA makes it possible for companies to automate processes that are normally carried out by hand. A major advantage of this is that legacy processes can also be automated, without having to replace the systems. According to Gartner, this works well for companies with large amounts of legacy infrastructure, such as banks and insurance companies.
“The ability to integrate legacy systems is the most important driver for RPA projects. By using this technology, organizations can rapidly accelerate their digital transformation initiatives, unlocking the value related to previous technological investments,” said Fabrizio Biscotti, research vice president at Gartner.
UiPath knows how to get the most out of the market. The startup raised $568 million from a financing round in May, making it the most valuable Artificial Intelligence Startup in the world. The company is now worth $7 billion. According to Gartner, the startup now has a market share of 13.6 percent. This puts it in first place on the market, while in 2017 it was still in fifth place.
However, Automation Anywhere does not do it badly either. Last year, this company was able to raise 300 million dollars through an investment by SoftBank, valued at 2.6 billion dollars. According to Gartner, the company has a 12.8% market share, which puts it in second place. Last year it took first place.
Then there’s Blue Prism, which went public in 2016. This company more than doubled its turnover last year to 71 million dollars, which gives the company a market share of 8.4 percent. That’s good for a third place.This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.