Current Trends and Future Growth of Robotic Process Automation (RPA) Industry Between 2018 to 2024

Current Trends and Future Growth of Robotic Process Automation (RPA) Industry Between 2018 to 2024

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1. The global RPA market is expected to reach USD 8.75 billion by 2024, according to a new report by Grand View Research, Inc. RPA is maturing in terms of clarity, credibility and applicability, as organizations are increasingly implementing these solutions.

2. RPA is emerging as a disrupting technology with capabilities of providing benefits such as enhanced accuracy, compliance, cost saving and scalability. As these tools are 65% less expensive than the full-time employees, industry experts have been expecting RPA to disrupt the conventional Business Process Outsourcing (BPO) model and alter the global outsourcing industry.

3. The key difference between other automation methods and RPA is the approach used for completing the tasks carried by employees. RPA utilizes applications through a standard interface along with the deployment of software without modification to the applications or systems being automated.

4. The RPA software, despite being a new technology, is neither expensive nor complex as compared with other technologies. The financial sector is embracing RPA within the application industry, followed by healthcare and telecom & IT. The common denominators among these industries are the large volume of data entry and switching among various applications.



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