– By Krishna Vij
In today’s fast-paced and hyperconnected business landscape, technology has quickly assumed the role of a star performer. No longer confined to the periphery, it has become the driving force of innovation, productivity, and competitive advantage. From Artificial Intelligence (AI) to cloud computing, blockchain, and data analytics, businesses today are harnessing technology’s transformative power to streamline operations, enhance customer experience, and drive growth.
Amid this, in the vibrant and ever-evolving tapestry of India’s business landscape, there is one technology that is quietly gaining prominence with the promise of being a game-changer. This technology is Robotic Process Automation (RPA). Once a futuristic concept, RPA has now firmly established itself in business processes for companies in various industries.
The statistics and resounding growth of RPA
RPA is swiftly revolutionising industries and shaping career opportunities at a global scale, and the Indian scenario is not too different. Right from banks and insurance firms to retail chains and supply chain processes, RPA plays a crucial role. The revolutionary technology eliminates tedious and repetitive tasks, minimises recruitment costs, improves customer service and experience, and facilitates higher productivity and return on investment.
Considering these, it’s no surprise that companies across verticals are prioritising RPA. To put things in perspective, India is growing at the fastest rate, with a CAGR of 20.8% in the global RPA market. A joint study by the International Data Corporation (IDC) and UiPath revealed that 84% of Indian organisations will scale up their RPA initiatives or achieve an enterprise-wide RPA deployment by 2025.
The driving factors
Wide-ranging applications: RPA offers a versatile array of applications, spanning critical domains such as customer service, data entry, order processing, payroll management, and reporting. Its adoption has become imperative, driven by the need to automate repetitive tasks, optimise operational efficiency, and reduce costs.
Anticipated demand growth: The demand for RPA is poised for substantial growth, with projections suggesting a 20% increase in the fiscal year 2024. This growth is indicative of the fervent desire among Indian businesses to embrace automation as a means of achieving a competitive edge.
The unfolding RPA job market in India
Beyond its impact on businesses, RPA is also creating a wealth of career opportunities in India. This burgeoning industry is giving rise to roles such as RPA Developers, RPA Analysts, RPA Architects, and RPA Project Managers. As per industry data, India is poised to generate over 200,000 RPA jobs in the next five years as global companies increasingly turn to India for their expertise in RPA services. Currently, there are around 5,000 job openings for RPA professionals, revealing a substantial demand-supply gap of 18-20%.
The roles and skills needed
From a career perspective, RPA has become a significant industry in India, entering the mainstream technology segment and offering numerous job opportunities. Roles such as RPA Developer, RPA Analyst, RPA Architect, RPA Project Manager, RPA Tester, and RPA Support Engineer are in high demand. In terms of the remuneration, in India, it largely varies based on one’s experience. Salary packages typically range from 3-5 lakhs per annum for basic, entry level positions, going to 6-10 lakhs for mid level positions, and reaching over 13 lakhs per annum for senior level positions.
To land a job that involves RPA, there are certain skills one must acquire and master since it is a niche segment. Some of the crucial skills one requires to build a successful career in RPA include experience in data analytics, a sound understanding of Python, Javascript, C++, and the company’s IT infrastructure, coding skills, and working knowledge of RPA platforms, among others. Besides the technical skills, individuals interested in making a career in RPA must possess strategic planning skills, strong analytical skills, problem-solving skills, and an understanding of programming languages. For the more experienced RPA professionals, RPA is more sector-agnostic and dealing with hands-on projects will help build your skillsets. It’s also incredibly beneficial to hold recognised certifications in RPA to increase your employability.
The dynamics of RPA adoption
In this dynamic landscape, organisations are swiftly embracing RPA to boost productivity and achieve a superior return on investment. Major market players are actively introducing innovative RPA solutions infused with artificial intelligence, machine learning, and cloud models to meet the burgeoning demand effectively.
Market segments and industries
The RPA market in India can be dissected into several key segments. These include components, where RPA is delivered through software and services, and operations, categorised into rule-based and knowledge-based processes. Applications span across administration and reporting, customer support, data migration and capture extraction, and data analysis, among others.
Moreover, RPA is transcending industry boundaries. It is being effectively harnessed by businesses in diverse sectors, including Banking, Financial Services and Insurance (BFSI), healthcare, retail, manufacturing, IT and telecom, hospitality, and many more. Its broad applicability underscores its versatility and impact on varied sectors.
In conclusion, the surging demand for Robotic Process Automation in India is a testament to the growing recognition of its transformative potential. This technology, with its wide-ranging applications and promising job prospects, is ushering in a new era of innovation and efficiency across the Indian business landscape. As businesses continue to explore the untapped potential of RPA, it is evident that the journey has only just begun, with limitless possibilities on the horizon.
(Krishna Vij is the Business Head – IT Staffing at TeamLease Digital.)
(Disclaimer: Views expressed are personal and do not reflect the official position or policy of Financial Express Online. Reproducing this content without permission is prohibited.)