Global robotic process automation (RPA) software revenue is projected to reach $1.89 billion in 2021, an increase of 19.5% from 2020, according to the latest forecast from Gartner, Inc. Despite economic pressures caused by the COVID-19 pandemic, the RPA market is still expected to grow at double-digit rates through 2024.
Worldwide RPA software revenue is expected to reach $1.58 billion in 2020, an increase of 11.9% from 2019 (see Table 1). Through 2020, average RPA prices are expected to decrease 10% to 15%, with annual 5% to 10% decreases expected in 2021 and 2022, creating strong downward pricing pressure.
Table 1. Worldwide RPA Software Revenue (Millions of U.S. Dollars)
Source: Gartner (September 2020)
Organizations Are Expected to Grow their RPA Capacity
Through 2024, large organizations will triple the capacity of their existing RPA portfolios.The majority of “new” spend will come from large organizations that are purchasing new add-on capacity from their original vendor or partners within the ecosystem.
Future RPA Clients Will Come from Non-IT Buyers
Adoption of RPA will increase as awareness of RPA grows among business users. In fact, by 2024, Gartner predicts nearly half of all new RPA clients will come from business buyers who are outside the IT organization.