Robotic Process Automation is believed to have been in existence for more than 7-8 years and it was there in India, before it spread to US and Japan market. However, most of these operations remained internal to organizations and gained momentum over the last couple of years. Organizations such as Blue Prism, Automation Anywhere and UiPath are gaining market presence with increased realization of enterprises on the benefits of RPA software.
AI – Various studies indicate there are many organizations in India that are aware of the RPA functionalities and are willing to take risks and invest in Robotic Process Automation. Though rule-based operations were the primary idea of RPA developers to replicate human based activities in managing the business process operations, AI and cognitive technologies are gaining market attention with capabilities of decision making. Large companies are currently building bots for business processes automation and AI leverages more automation and integration of various bots deployed.
Comparison of India RPA market to others – India is catching up fast in RPA adoption along with US and Japan. One of the leading RPA provider Automation Anywhere is growing in India deploying several bots with great bot velocity where thousands of data instances are streamlined and processed in few minutes. Most companies deploying the bots are reaping benefits with accelerated processes and performances, financial performances, as well as in prioritizing strategic goals. The Finance and banking industries are the major contributors to the RPA market and is expected to get adopted by various industries as well in the next couple of years. Several factors that restrain the growth of RPA market include workforce that are not willing to share the process knowledge to software bot deployment teams for the fear of losing their jobs due to automation. North American organizations have already started reducing their outsourcing activities by deploying RPA software. This is also expected to create similar consequences for the Indian organizations as well. However, the cost-effectiveness and easing of business processes are expected to drive the large-scale adoption of RPA in near future. The bottom line business growth and reduced OPEX are influencing the top management of organizations to implement RPA and enhance their profit margin.
– Swarup Bhowal,
Research Analyst – ICT,