The Covid-19 crisis made businesses realize how essential automation is for business and agility. The Covid situation challenged the inefficiencies of the traditional business models that rely on manual operations.
Even the highly manual departments like human resource were turning towards automation and the RPA in HR became highly common in various companies.
The global robotic process automation (RPA) market is expn ected to grow more than 13 billion U.S dollars by 2030 (Source: Statista). Robotic process automation (RPA) is enabling businesses across the world to reduce costs, improve operational efficiency, provide customer satisfaction, and more. The rise of robotic process automation in supply chain was seen more evidently than any other sector.
Robotic process automation has witnessed exponential growth over the past two years. The latest market trends show that RPA will dominate in 2023 and continue to do so in the coming years. According to Gartner’s prediction, 90% of the prominent organizations globally will adopt RPA in some form by 2022 for scaling up their businesses. For instance, incorporating robotic process automation in HR will play a key role in improving the process quality, speed, productivity, etc., in companies.
Here are a Few Robotic Process Automation Trends and Predictions in 2023
One of the main reasons for deploying robotic process automation technology is, it reduces time, effort, and cost to execute time-consuming and repetitive tasks. With robotic process automation (RPA), businesses can save time and generate higher ROI. Integrating RPA in the supply chain ensures that every process is covered and all the tasks are streamlined leaving the manual team for other important tasks.
Moreover, RPA can also safeguard businesses from future crises like the Covid-19 pandemic.
Because of Robotic Process Automation, there is a massive digital transformation in HR, banking services, financial services, and many more businesses. RPA is one of the rapidly-growing technologies in the world. According to Grandview Research, the service sector accounted for the highest share of 61% and it is expected to grow at the highest CAGR from 2021 to 2028.
- Adopting RPA centers of excellence (CoE) will be prevalent as they will standardize RPA by reducing maintenance, bot faults, etc.
- With the advancing technologies, RPA bots can benefit from other developing technologies like artificial intelligence.
- By 2023 RPA will incorporate artificial intelligence (AI) and machine learning techniques.
- Automation acquisitions rise in 2021 will continue their pace in 2023 and beyond.
- The RPA industry is booming faster and will grow tremendously in 2023. RPA bots and artificial intelligence solutions have grown past few years.
- Robotic process automation in the supply chain can drive higher benefits from automated planning and delivery.
Partner With the Right RPA Supplier
As mentioned above, the trends show RPA will dominate in 2023. And we at SVAM will help you make the most of RPA and thrive through these challenging times. You can be part of changing the business world with the help of our RPA solutions. With the best RPA practices, we will help you build a sustainable business, help you with the integration of rpa in human resources and take the whole business ecosystem to new heights.