Forrester predicts RPA software market growth will begin to flatten next year
Last year robotic process automation (RPA) was all the rage, as we saw market leader UiPath go public at a huge valuation, while larger more established players began to scoop up smaller vendors. Yet RPA has always felt like an interim automation solution to deal with legacy processes before shifting to a more intelligent no-code approach.
Forrester Research’s latest data appears to back this up, predicting the RPA software market will reach $6.5 billion by 2025, but with the caveat that growth will start to flatten as soon as next year as companies shift to more AI-fueled automation solutions.
“While we expect the tremendous market growth in 2021 to continue throughout 2022, fueled by pandemic-induced automation demand and ongoing digital transformation programs, growth rates will begin to flatten in 2023,” the company wrote in its latest RPA market report.
While $6.5 billion is up significantly from it’s 2018 report when the firm predicted the market would reach $1.1 billion in 2019, it is still a fairly small amount overall when you consider Salesforce just completed a quarter in which it reported over $7 billion in revenue on its own.
The services part of the market, helping implement these complex solutions, is expected to grow much more robustly compared to RPA software revenue. According to Forrester, RPA-related services could reach $16 billion by 2025, almost three times the software it’s trying to help implement. If you combine the services and software, it’s a much more impressive $25 billion market by 2025.
Credit To TechCrunch
