Avasant’s RadarView™ Recognizes the Top-Tier Vendors in the Rapidly Expanding Intelligent Automation Marketplace
Today, Avasant unveiled its pioneering Technology Product RadarView™ with an initial report on Intelligent Automation (IA) Tools. The RadarView™ report covers the top 14 IA tool vendors that have shown mature capabilities, an enterprise-centric approach, and future-aligned investments and innovations. The report recognizes the top vendors as follows:
- Leaders: Automation Anywhere, Blue Prism, NICE, UiPath
- Innovators: AntWorks, EdgeVerve, IPsoft, Pegasystems
- Disruptors: Kofax, Verint, WorkFusion
- Challengers: Jacada, Kryon Systems, Softomotive
- Tool vendors deploy a variety of approaches to Intelligent Automation (IA), including data-centric, conversational Artificial Intelligence (AI) and Robotic Process Automation (RPA).
- Over 20% of IA tools revenue is already derived from industry-specific automation, as increased AI capabilities in IA tools are opening up judgement-based, business-critical functions to automation.
- With over USD 1.7B capital raised in the last 18 months, heightened investor activity and valuations are propelling IA tool vendors into a land-grab race, coming out with innovative incentive programs including free 1-year licensing for select modules, subsidizing pilots and reengineering annual terms (14 months instead of 12 months).
- 1200+ ready-to-use bots across major marketplaces, easier bot development and seamless integration is driving enterprise scalability.
- The majority of the IA tool vendor’s investment budget, ranging from 25-40%, goes toward enhancing functionalities and features of their products to stay ahead in a rapidly evolving digital ecosystem.