The combined market for robotic process automation (RPA) and intelligent automation (IA) was already on a strong growth trajectory before the COVID-19 pandemic, and throughout the pandemic, it has shown no signs of slowing. IA is generating quite a bit of buzz on the back of ever advancing artificial intelligence (AI) technologies and capabilities, such as natural language processing (NLP), machine learning (ML), intelligent document processing (IDP), and intelligent capture.
- Enterprises are increasingly embracing RPA and IA as they nurture digital cultures and seek to automate a growing number of processes across a wider array of business functions, such as HR, IT, finance and accounting, sales, marketing, and customer service.
Businesses are, at their core, largely the same, each relying on core business processes and workflows, such as HR, IT, finance and accounting, sales, customer service, marketing, operations, and procurement, despite their different value propositions and places in the world.
- Nuances present themselves when looking from industry to industry. For example, the financial services and healthcare industries are both highly regulated, but have different regulations, so solutions can be slightly tailored to each meet or exceed these requirements and standards. Moreover, some industries are largely B2B, while others are predominantly B2C, which impacts how an enterprise designs its digital customer experience.
- This report highlights the market opportunities for RPA/IA within major industries and what the key use cases are within each
- 1. Adoption is on the rise with AI at the core of intelligent automation. The AI inherent in IA brings business process and workflow automation to a broader set of processes than RPA alone. As internal and customer-facing operations are digitized, the amount of data with which businesses can act upon and make decisions with is proliferating. Being able to do more with data at speed is core to improving performance and differentiation.
- 2. A number of use cases apply to all businesses. Processes in horizontal functions, such as HR, finance, and IT, are present in companies across all industries and of all sizes. These document intensive processes are prime candidates for automation across industries and represent a significant portion of the market opportunity within each.
- 3. RPA/IA meets more nuanced, industry specific use cases Industry-specific use cases are present in each sector, providing vendors and enterprises alike the opportunity to differentiate. One example involves vendors including point integrations/platform capabilities for pervasive software systems used throughout an industry, such as Epic Systems' EHR in the US healthcare space.
- Further reading Enterprise RPA & Intelligent Automation Study (June 2021)
- AI Business Performance Metrics Database - 2Q21 Analysis (June 2021)
- Enterprise AI Contracts Database - 1Q21 (June 2021)
- Market Forecast: RPA & Intelligent Automation, 2019-26 (May 2021)
- Intelligent automation proves its utility in media & entertainment (September 2020)
- IT Drivers and Technology Priorities - IT Enterprise Insights 2021 (September 2020)
- "The State of Federal RPA," version 1.0., published by the RPA Federal Community of Practice (CoP) (November 1, 2021)
Table of Contents
- Catalyst and Omdia view
- Key messages
- Market sizing
- Enterprise adoption and drivers
- Market dynamics
- Energy & utilities
- Financial services
- Information technology & services
- Public sector - Retail
- Telecom, media & entertainment
- Top use cases
- Customer examples
List of figures, tables and downloads
- Figure 1: What is your organization's sentiment toward RPA/IA technology?
- Figure 2: Current RPA/IA utilization and plans
- Figure 3: At what stage do you expect your organization's RPA/IA usage to be at in 2 to 3 years?
- Figure 4: RPA & IA industry market sizing and forecasts
- Figure 5: RPA & IA energy & utilities market sizing and forecast
- Figure 6: RPA & IA financial services market sizing and forecast
- Figure 7: RPA & IA healthcare market sizing and forecast
- Figure 8: RPA & IA information technology & services market sizing and forecast
- Figure 9: RPA & IA public sector market sizing and Forecast
- Figure 10: RPA & IA retail market sizing and forecast
- Figure 11: RPA & IA telecom and media & entertainment market sizing and forecast
- Figure 12: AI business performance metrics by industry, 2Q21
- Table 1: RPA/IA media & entertainment use cases
- Table 2: Select recent enterprise contracts across industries
- Table 3: Select recent enterprise contracts across industries
- Table 4: Select recent enterprise contracts across industries