Market Outlook: Robotics Process Automation (RPA), 2018-2023, Worldwide

RPA process
Market Outlook: Robotics Process Automation (RPA), 2018-2023, Worldwide

Enterprise organizations across industry sectors are undergoing a transformation in their business processes driven by global megatrends and digital transformation trends. Robotics Process Automation (RPA) is emerging as one of the revolutionary technology trends and transforming traditional business processes with a dramatic improvement in terms of productivity, agility, speed, and accuracy.

In this regard, the latest research, “Market Outlook: Robotics Process Automation (RPA), 2018-2023, Worldwide”, carried out by Quadrant Knowledge Solutions research analyzes market dynamics, technology trends, short-term and long-term opportunities, and vendor ecosystem of the global market, and, of course, Robotic Process Automation (RPA) implementation within the market.

It also provides strategic information to the market participants and users who are responsible for strategic planning, marketing, sales, and purchasing RPA solutions. As stated by Quadrant Knowledge Solutions, “this research provides strategic information for technology vendors to better understand the market supporting their growth strategies and for users to evaluate different vendor capability, competitive differentiation, and its market position.”

RPA benefits
RPA benefits

Likewise, it gives a snapshot of the market positioning of the key market participants through its SPARK Matrix representation. In parallel to the research, the SPARK Matrix analysis provides a visual representation of market participants and provides strategic insights on how each supplier ranks related to their competitors, with respect to various performance parameters based on the category of technology excellence and customer impact.

“In Quadrant’s evaluation of global Robotics Process Automation market, we have analyzed the offerings of leading RPA vendors, including Automation Anywhere, Blueprism, Jacada, Jidoka, Kofax, Kryon Systems, NICE, Pegasystems, Redwood Software, Softomotive, Thoughtonomy, Uipath, Verint Systems, and WorkFusion,” the company explained.

2018 SPARK Matrix analysis of the global RPA market

According to the Quadrant’s research findings, Softomotive is positioned amongst the technology leaders in the 2018 SPARK Matrix analysis of the global RPA market. Softomotive is amongst the early providers of automation solution and offers WinAutomation, the desktop version, and ProcessRobot, an enterprise-class RPA platform with capabilities including centralized robot management and control, advanced analytics, ROI dashboard, scalability, enhanced security, and artificial intelligence (AI) and machine learning (ML) through integration with best-in-class cognitive services, including Microsoft, Google, and IBM Watson and ABBYY FlexiCapture.

2018 SPARK Matrix Robotics Process Automation Quadrant Knowledge Solutions3783
2018 SPARK Matrix Robotics Process Automation 2018

According to Vishal Sharma, Industry Research Manager at Quadrant Knowledge Solutions, “Softomotive is able to attract customers from both mid-market to large enterprise organizations by offering an advanced technology value proposition, quick ROI, competitive pricing strategy, and competitive differentiation strategy for different market segments”. He further adds, “Softomotive technology vision and roadmap is in-line with the overall industry trends and developments, including improvement in AI and cognitive capabilities, deep learning, and advanced enterprise-grade features”.

Softomotive has demonstrated a strong technology value proposition with comprehensive RPA functionalities and support for attended, unattended automation use cases. The company is able to support organizations throughout their RPA journey by enabling them to start small, learn quickly and scale seamlessly. Softomotive has registered tremendous growth in terms of both revenue and client base in the last few years.

Marios Stavropoulos, the CEO of Softomotive stated: “We are delighted to be acknowledged amongst the technology leaders in the 2018 SPARK Matrix analysis of the global RPA market.” He continued: “Softomotive is the only RPA vendor to offer a desktop version WinAutomation, as well as server-based unattended and attended automation solutions ProcessRobot.  These two working independently or together are uniquely qualified to support the RPA needs of any enterprise irrespective of their size.”   

RPA technology enables organizations to create their own software robots to automate and streamline their business and administrative processes. Software bots can effectively replicate high-volume of the repetitive task and replace human element without affecting underlying systems. Intelligent software bots can be deployed to automate end-to-end business and IT processes. With cognitive capability, they can watch operator behavior over thousands of instances and can develop a program to mimic processes and functions to operate on its own. Like human employees, these bots can interpret, trigger responses, and interact with other systems or applications.

Driven by technology innovation, expanding use cases, and maturity of cognitive, artificial intelligence (AI), and machine learning capability in RPA applications, the market continue to evolve and see growing traction amongst user communities across verticals.