The Robotic Process Automation (RPA) industry is snowballing thanks to the integration with other technologies. You can manage your business and resources better with the use of RPA. With the ongoing advancement – the only way forward to 2022 is the implementation of RPA in significant industries.
RPA automation technology reduces the time and effort required to execute repetitive operations. It allows the robots to take over the routine operational activities in the organization. Plus, the combination of Artificial Intelligence (AI) and Machine Learning (ML) makes the process super-efficient. As per Deloitte’s 4th edition of the Global Robotics Survey, 95% of the organizations deemed Robotic Process Automation as the best solution for enhanced productivity. 93% of those organizations credited RPA for greater compliance and 81% reported that the smart automation technology reduced costs.
RPA Adoption Across Major Industries
The number of multinational companies or businesses are growing rapidly. To drive efficiency, they are adopting Robotic Process Automation in majority of their operations. Industries who considered RPA as a costly affair are witnessing the extensive benefits that RPA has to offer.
It is a proven fact that adopting RPA solutions for companies overreaches performance level.
As per a report, the global RPA market size was at $1.40 billion in 2019 and is expected to escalate to $11 billion by 2027. Moreover, the projected compound annual growth rate (CAGR) of RPA is 40.6% from 2020 to 2027. This figure is an indicator of the ever-increasing demand for RPA within businesses. Multiple industries across the world are reaping maximum RPA returns through ROI and reduced costs round the clock hours.
Industries Where RPA is Likely to Get Mainstream Adoption
RPA adoption in the industry is increasing over time. Major industries have already begun to use RPA automation and are seeing increased productivity, efficiency, and cost control through process automation. Telecommunications, agriculture, health, food, finance, manufacturing, military, retail, fashion, mining, transportation and logistics, and utilities are among the industries most likely to adopt RPA.
Let us go over them one by one.
The Agriculture sector is adopting new strategies and technologies to get maximum results in limited resources. Therefore, to increase the productive output, the adoption of RPA in the agricultural sector is a must.
Besides, most farmers are already adept with self-guided tractors and harvesters that work with GPS. Moreover, with changing times, there has been a rise in autonomous tasks – that automate different agricultural operations.
With RPA, the Agri industry can automate mowing, spraying, pruning, thinning, and weed removal. In addition, sensor technology can manage different pests and diseases that affect the crops.
Furthermore, Robotic Process Automation can help farmers automate their repetitive tasks to spend time on other essential tasks that need skills. The technology can plan – farm management, helping predict better outcomes and reduce the economic footprint of farming.
Health care practices need accuracy the most, and rapid development in RPA can provide the same precision in operational tasks. The Robotic Process Automation technology is used in rehabilitation, surgery, and patient companionship.
However, the Robotic instruments are not meant to take over the duties of the medical practitioner but rather assist them by making their work easier.
For example, the Da Vinci system utilizes the surgeon’s hand movements to control the specific instruments inside the patient’s body. And, the technology allows making invasive procedures like – colorectal, cardiac, gynecologic, and urologic simple.
Most patients with paralysis or spinal cord injuries can rely on the robotic device – Exoskeletons. The Robotic device can guide the patient during the rehabilitation process.
Furthermore, Robotic lifting machines help lift elderly or immobile patients. RPA robot Paro deals with mental health issues and provides comfort with the help of microphones and sensors.
In today’s world, the telecommunications sector, like any other industry, faces fierce competition. It is a massive industry that faces numerous operational challenges. There is an increasing demand for improved data management, seamless connectivity, customised solutions, and so on.
The industry’s RPA adoption may be regarded as the best solution for dealing with emerging issues. These issues include low productivity, errors, and high overhead costs, among others. RPA assists telecommunications businesses in reaching their full potential by reducing the number of tasks through automation, allowing employees to focus on key issues. This saves time, energy, and money. Furthermore, it enhances the customer experience by offering cutting-edge solutions.
The food industry will adopt the RPA technology in full force in the coming year. As a result, the cooking concepts will change, as automated robots will be adept at cooking hundreds of meals in the home kitchen. For Example, Moley robotics helps to assist limited human contact during the preparation of meals.
It integrates UV disinfection of the surface, which results in a minimized risk of contamination. Moreover, the robotic chef can control via a Smartphone. As a controller, you can choose a recipe and pre-packed boxes of cut and prepared ingredients.
After which, the robot will cook the meal effectively and quickly. In the future, robotics is coming up with a version of a customized feature that’ll be more consumer-friendly. It will be integrated with the fridge and dishwasher, thus saving your time.
RPA provides the best return on investment. Integrating with RPA will see many changes in the finance sector. You can expect improved operational metrics and SLA. It can leverage metrics such as payable outstanding, sales outstanding, and inventory.
Software robotics is adept in running invoice processing and end-to-end processing processes. In fact, with RPA, the finance teams spend lesser time in routine operations and save hours for strategies.
Besides, RPA can streamline the core finance processes, mitigating data and regulatory risks. In addition, major banks – like Bank of America and Citibank are using RPA to provide advanced security.
Moreover, the Bank of America has a Chabot named Erica, which provides financial guidance using cognitive features and productive analysis. With RPA’s intelligent automation, you can increase your productivity.
RPA processes are being utilized in the manufacturing process to increase productivity and overall efficiency. Besides, it also helps to lower the production cost.
Similar to the health care sector, Robots collaborate with workers to perform complicated and repetitive tasks. However, the worker has to guide and control the whole process.
With the machines – the meticulousness has more value than the speed. In addition, Robotics automation reprograms different tasks depending on sizes and volumes and saves time.
Robotic Process Automation in manufacturing is safe to operate. With cameras and automatic sensors – the robots enable better sense operational capabilities. Also, RPA enables digital transformation initiatives within the manufacturing industry. Furthermore, optimizing the core operations – improves quality and agility.
Utility companies (such as oil, gas, and water) are implementing Robotic Process Automation solutions to address issues such as reduced investments, dwindling workforce, and stalled projects. Robots perform repetitive tasks in the oil and gas industry to reduce human intervention. It is divided into three major sectors within the industry: upstream, midstream, and downstream.
Adopting robotic digital transformation technique is a tried and tested method for the utility industry to continue to advance indefinitely. Data analytics and cybersecurity, which are components of Robotic Process Automation, are required for Oil and Gas companies to meet their short-term objectives. According to a 2020 global survey (Statista), 60 percent of respondents regarded data analytics as critical to a company’s success. On the other hand, 57 % of respondents thought cybersecurity was important.
RPA technology is being applied in many military and public service sectors. Drones are the most prominent example of surveillance and support operations on the battlefield.
RPA enabled military drones that fly above areas of war or conflicts, or hostage situations can access the danger levels and provide first responders or soldiers with real-time information of site happenings.
Drones are changing – the way disaster responses can access dangerous areas with better speed and accuracy. Moreover, it provides accuracy without placing the human responders in a way.
The Defense Logistics Agency improves cycle time, supply chain management, productivity, which uses the software bots to execute different tasks. As the technology is becoming more affordable, it’ll impact more sectors.
Robotic automation has led to a transformation in the distribution center operations with accuracy and speed. As a result, Amazon has stated that its operational costs have been reduced by more than twenty percent.
Even Walmart uses drones to monitor its warehouses to check out-of-stock products with accurate slotting. Besides, the updated robotic automation technology supports zero-defect logistics processes to achieve higher production output.
For Example, DHL supply solutions use Effi bot – an automated trolley for its operations. It creates an interactive process through its single and multi-order picking features. Moreover, it helps track complex inventory movements and handles all the manual work in the warehouse.
RPA technology in the supply chain enables the retailers to achieve savings from losses or stock-out shortages. In addition, it offers different retail industries the flexibility to move from sales to functions, which drives sales. Therefore, Robotic Process Automation services are ideal for the retail sector.
Administrative, managerial, and customer service levels are all used in the fashion industry. These levels are intricately linked and complexly interconnected. RPA is the best solution for managing them. The fashion industry has embraced RPA because customer service is at the heart of modern retail enterprises. The following are the roles that RPA plays in the fashion industry:
• Consolidate business data • Optimize traditional manual processes • Real-time access to information repositories
RPA offers comprehensive guidance and business insights to improve customer engagement.
RPA technology plays a big role in the mining industry. The applications include – excavation, mining, haulage, dozing, mapping and surveying. Besides, it can also assist in robotic drilling and handling of explosives.
Most mining companies integrate technology to improve productivity, efficiency, safety and reduce cost. Besides, most work can be automated in the mining industry by enabling touchless business processes. Furthermore, the integration of RPA with AI can help robots take up automation tasks.
Logistics and Transportation
There are two primary advantages to RPA automation adoption in the transportation and logistics industries. They are as follows: 1. speed and 2. efficiency. A third benefit, “accuracy,” is also essential for businesses to provide efficient end-to-end services.
The transportation industry necessitates a smooth supply chain process, which can be automated using RPA. Furthermore, RPA is used in business processes such as order management and order distribution cycles.
Future Adoption of RPA
RPA adoption is increasing as more industries recognise its importance and contribution on a global scale. In the next three years, 78 percent of industries that are already reliant on RPA automation will invest heavily in RPA (Deloitte Global RPA Survey). Taking RPA growth trends into account, the survey predicts “near universal RPA adoption” in the next five years.
Robotic Process Automation technology allows industries to automate their operational tasks across various systems. The technology can automate workflow, backend processes, and infrastructure.
Besides, it reduces the risk of human errors and increases the productive output. Increased adopters of RPA technology outperform the rest of organizations with increased ROI and round-the-clock reduced costs. As a technological advancement, it should be adopted for automated workflow.