The Future Predictions for the RPA in Industry
If we are going to explore the previous record of IT industry two years back then the information technology industry is experiencing a boom like never before, and more good brands are looking to expand their business in this growing area because of the immense amount of potential. The RPA (Robotic Process Automation) is the most emerging area which is going to influence the industry scenario in complete sense. As we all know that the Information technology has wide range of applications, which is also why it has proven to be such a beneficial key component in the entire structure that industries now have. With the growing importance of this, it becomes important to understand the important aspects of this industry and the key components that make it the revolutionary tool that it is.
Emerging Application areas in Industry:
As per the present review made by google recently, most of the emerging applications in industries such as Cloud computing, Mobile apps, Big-data analytics, Automation, Artificial intelligence, Smart technology such as Virtual reality, Augmented reality and many more are either directly or indirectly going to take the use of RPA mechanism. In addition, with this the other areas such as Blockchain, Cyber security, Growth of IoT networks, Predictive Analytics implementationetc also going to take the use of RPA mechanism to enhance their functionality to provide better interface for their usability.
Like AI and Machine Learning, Robotic Process Automation, or RPA, is another technology that is automating jobs. RPA is the use of software to automate business processes such as interpreting applications, processing transactions, dealing with data, and even replying to emails. RPA automates repetitive tasks that people used to do.
Impact of RPA in Real World Use Cases
The role of IPA an approach of RPA:
The Intelligent Process Automation (IPA) is another approach of RPA which is mainly used to blends the rules-based automationcapabilities of RPA with the sophistication of AI, together with the trial-and-error learning capabilities of Machine Learning and fundamental process redesign. It is the most emerging scope of technology which is having a huge scope now a day.
This advanced technology will have a revolutionising effect on business efficiency and strategy and is likely to spawn new business approaches and more diverse ways of working. Although very new, IPA is set to be closing in at a rapid rate thanks to the upswell of RPA adoption on a worldwide scale.
Although Forrester Research estimates RPA automation will threaten the livelihood of 230 million or more knowledge workers or approximately 9 percent of the global workforce, RPA is also creating new jobs while altering existing jobs.
According to a September 2020 Gartner, Inc. report, global RPA software revenue is projected to reach $1.89 billion in 2021, with a 19.5% increase from 2020. This revenue spike from the previous year is made even more impressive in the face of the harrowing economic instability caused by COVID-19.
So, we’ve compiled a shortlist of RPA trend predictions for 2022 and beyond, as the technology looks to cement its authority in the global business landscape of the future.
Rise in global business:
As we have already discussed above that the RPA technology is now fully improved so must of the organisation’s capacity to improve add-on and advanced features and functionalities to their portfolios to accommodate the changes.The expectation for businesses to be ‘everywhere’, across all devices and technologies, will be the driving factor for the increase in capacity for their RPA portfolios.
Get RPA Jobs with N9 IT Solutions
Where to use RPA and its benefits:
As per the modern research, the RPA’s adoption is set to increase as awareness of the technology rises among business users around the world. It is not only limited to get used in IT means the RPA is no longer considered a ‘new’ technology as many organisations use it in varying capacities. And as the benefits of the technology are witnessed across multiple businesses processes and departments, its adoption is likely to increase into areas that are not specifically IT-related.
As per the present facts and report the RPA technology is being used at high-level business operations, as the likes of CFOs and COOs are beginning to see the benefits of automation to improve the efficiency and accuracy of various business processes.
For you as an IT professional looking to the future and trying to understand new technology trends, RPA offers plenty of career opportunities, including developer, project manager, business analyst, solution architect, and consultant. And these jobs pay well. An RPA developer can earn over ₹534K per year - making it the next technology trend you must keep a watch on!
Mastering RPA will help you secure high paying jobs like:
- RPA Developer
- RPA Analyst
- RPA Architect
Market Overview of RPA
The RPA markets are rapidly evolving. For some enterprises, the RPA has offered value for several years. In 2017, RPA technology becomes the forefront of industry requirements because its valuable benefits offer a fast ROI. This year, the number of enterprises and industries that gain a clear view of what they can get from RPA deployment accelerated their implementation. According to a report from HFS, the RPA market that was 270 million USD in 2016 will unsurprisingly touch 1224 million USD in 2021. From the chart below, it is significant to note the growth rate between the years 2017 and 2018 that is close to 50%. This proves RPA technology is becoming a necessary solution for the competitive business environment.
Recent Trends in RPA
In addition, to bring excessive value to the market, RPA drives productivity innovations and improvements. As RPA shines in automating routine and mundane tasks in an enterprise, today’s software bots can handle an increasing number of front &back-office business activities services. As RPA gets better and adopts assisted as well as unassisted machine learning, its functionalities continue to expand. As a result, the opportunity for RPA will grow along with its addressable market. Here are some most recent RPA trends to watch out.
Robotic Process Automation (RPA), a technology that uses software robots to automate repetitive tasks and manual processes—enhancing the work of your employees by interacting with websites, business and desktop applications, databases and people to execute repetitive and often mundane work.
Some common RPA examples and use cases we encounter are automation of data entry, data extraction, and invoice processing. There are additional examples of RPA use cases automating tasks in different business departments (Sales, HR, operations, etc.) and industries (banking, retail, manufacturing, etc.)
10 Amazing Examples of Robotic Process Automation in practice
RPA helps companies from numerous industries complete a wide variety of tasks. When I work with businesses helping them with their digital transformation and to improve performance, I see hundreds of great RPA examples. Here are just 10 of them:
- Call centre operations
- Data migration / entry and forms processing
- Claims administration
- Onboarding employees
- Help desk
- Support the sales process
- Scheduling systems
- Credit card applications
- Expense management
- Pulling data from multiple websites to find the best deal
- N9 IT Solutions is a leading IT development and consulting firm providing a broad array of customized solutions to clients throughout the United States.
- It got established primarily with an aim to provide consulting and IT services in today’s dynamic environment.
- N9 IT also offers consulting services in many emerging areas like Java/J2ee, Cloud Computing, Database Solutions, DevOps, ERP, Mobility, Big Data, Application Development, Infrastructure Managed Services, Quality Assurance and Testing.