Machinery / Industrial Parts & Tools

RPA, or robotic process automation, is estimated to be unheard of by many people, but in fact it is a technology capable of changing the robotics industry, and it is now exploding at an accelerated rate.

Not long ago, the international authoritative research organization Gartner released the "Magic Quadrant for Robotic Process Automation", which included Chinese RPA vendors such as Cyclone and Laiye Technology for the first time.

Gartner’s Magic Quadrant is known as the “Oscar of the science and technology industry”. It is one of the most credible and authoritative research reports in the world. It is also an important basis for CIOs (chief information officers) to select technologies and services. Being on the list means that China's RPA industry has officially entered a new stage.

The application prospects of RPA

The so-called RPA is the abbreviation of Robotic Process Automation, translated as Robotic Process Automation, which is a business process automation technology based on software robots and artificial intelligence (AI).

RPA can simulate the working state of human beings and automatically execute those rule-based and repetitive business processes, such as data entry, search, migration, etc., as well as information review, upload and download, sorting and verification, etc., so as to greatly improve work efficiency , Reduce labor costs.

Previously, an RPA research report released by Deloitte showed that for a company with revenues of US$20 billion and 50,000 employees, 20% of the workflow can be automated by RPA, which can bring in more than US$30 million per year. Profit.

In recent years, RPA has gradually become one of the most concerned technology trends. On the one hand, RPA can replace inefficient labor in a very efficient way, just like replacing manpower with machines. Many companies cannot refuse the improvement of efficiency. What's more, the demand and business model of RPA have been adopted by foreign companies. It has been verified that, in fact, RPA has become the fastest growing market segment in the AI software field.

On the other hand, it is a general trend to replace manpower with machines. In recent years, the demographic dividend of China and the world is gradually declining, and the cost of manpower is getting higher and higher. As a virtual labor force, RPA can handle the duplication, time-consuming, complex, and easy-to-use business of enterprises. Wrong work can save huge labor costs.

Domestic and foreign capital has been deployed

Based on various advantages, RPA has become one of the most popular automation options in the world to improve operational efficiency and has broad development prospects.

According to IDC's "Global Artificial Intelligence Market 2021 Forecast", by 2024, 45% of repetitive tasks will be automated or enhanced through the use of "digital workers" supported by AI, robots, and robotic process automation (RPA).

At the same time, IDC data predicts that the global RPA software market will reach 3.9 billion U.S. dollars in 2023, with a compound growth rate of 36% from 2018 to 2023; among them, the Chinese RPA market will accelerate development, and the market size will reach 1.02 billion U.S. dollars in 2023, a compound annual compound growth rate. The growth rate is as high as 64%.

Such rapid development is naturally fueled by capital. In the past few months, the domestic and international RPA market has not been calm.

In April, UiPath, a leading foreign RPA company, went public with a market value of more than 30 billion U.S. dollars; in May, RPA supplier Redwood Software announced that it had received a strategic investment of 380 million U.S. dollars; in June, RPA startup Celonis received 1 billion U.S. dollars in Series D financing. The value soared to 11 billion U.S. dollars...

Coincidentally, domestic capital has also poured into the RPA field. According to data, at least 17 financing incidents have occurred in China’s RPA industry in half a year. Last year, as the first year of the domestic RPA market, the number of financings was only 22. Obviously domestic RPA The market is accelerating its expansion.

Now there are two more domestic RPA vendors and they have entered the RPA Magic Quadrant, which fully shows that the domestic RPA market and technology are rising rapidly, and they have the ability to compete with top international companies on the emerging track of RPA. I believe that next The domestic RPA industry will usher in a new round of outbreaks.