Robotic Process Automation Market to Reach $5.1 Billion by 2025

Robotic process automation (RPA) is a family of technologies designed to replicate human actions in order to complete a task or series of tasks. Unlike traditional programming constructs, RPA is designed to allow everyday workers to quickly deploy virtual counterparts to learn from and mimic the actions they use to accomplish routine tasks, therefore freeing the worker to handle more complex, and in some cases, more fulfilling work activities. According to a new report from Tractica, the market for RPA is developing rapidly, and the market intelligence firm forecasts that worldwide revenue in the sector will increase from $151 million in 2016 to more than $5.1 billion by 2025. The key industry sectors that are embracing RPA implementations include financial services & banking, utilities & telecommunications, retail & commercial, and healthcare & insurance. The market opportunity for RPA will be largest in Europe during the forecast period, with Asia Pacific and North America not far behind.