Robotic process automation (RPA) software revenue grew 63.1 per cent in 2018 to $846 million, making it the fastest-growing segment of the global enterprise software market, a new report by Gartner Inc. said on Monday.
“The RPA market has grown since our last forecast, driven by digital business demands as organisations look for ‘straight-through’ processing,” Fabrizio Biscotti, Research Vice President at Gartner said in a statement.
“Competition is intense, with nine of the top 10 vendors changing market share position in 2018.”
The top-five RPA vendors controlled 47 per cent of the market in 2018.
The vendors ranked sixth and seventh achieved triple-digit revenue growth.
“This makes the top-five ranking appear largely unsettled,” Biscotti added.
North America continued to dominate the RPA software market, with a 51 per cent share in 2018, but its share dropped by two percentage points year-over-year.
Western Europe held the second position, with 23 per cent share. Japan came third, with adoption growth of 124 per cent in 2018.
“This shows that RPA software is appealing to organisations across the world, due to its quicker deployment cycle times, compared with other options such as business process management platforms and business process outsourcing,” said Biscotti.