The field of robotic process automation is hot, if recent data compiled by Enterprise Technology Research is any indication.

The major firms that provide RPA, which involves the use of software robots to automate repetitive mundane tasks, are showing signs of major growth, based on user panel responses from more than 1,000 information-technology practitioners summarized by ETR.

“The spending data from ETR really shows that the RPA market is poised for continued growth,” Dave Vellante, chief analyst at market research firm Wikibon Inc. and host of theCUBE, said in a Breaking Analysis at SiliconANGLE Media’s studio in Boston. “It’s been rocketing. Gartner calls it the fastest-growing software subsegment that they track.”

Vellante’s full analysis with transcript is here.

Significant investment

The RPA companies highlighted in Vellante’s review of the ETR data from the July 2019 second-half survey included UiPath Inc., Automation Anywhere Inc., Blue Prism Ltd. and Pegasystems Inc. The first three firms have seen significant investment since 2017, and spending intentions data reported by ETR showed no negative scores.

“These companies have attracted a massive influx of venture capital,” said Vellante, who noted investment of more than $1.5 billion in just the past two years. “All of the companies are actually quite strong on a relative basis.”

RPA is having an impact in areas such as financial systems by focusing on automating simple tasks in a big way rather than handling large, complex processes. However, there are no signs yet that jobs are being dramatically impacted.

“They’re popular in environments like finance and service roles and back-office areas where there are repetitive common tasks that people frankly hate,” Vellante said. “Practitioners are reporting that it’s having a major business impact, although they’ve said it’s not likely to reduce headcount. They’re redirecting resources; you’re not firing people because you’re bringing in robots.”

Growth in the RPA field is also attracting the attention of systems integrators, according to Vellante. “We see big systems integrators coming into this, companies like Accenture, IBM, Deloitte, PwC, Ernst & Young, those are starting to go after this space,” Vellante stated. “If there’s money there, they find it and they go hard after it.”

Here’s the complete video analysis:

Photo: SiliconANGLE