Navigant Research forecasts robotic process automation in the utility industry to grow by 25.8% between 2018 and 2027.
The research firm is expecting revenue generation within the sector to reach $470.9 million in 2027.
The utility industry will increase investments in robotic process automation to improve operational efficiency through automating tasks.
Task automation is expected to be high within the contact center, in the back office and in field operations.
This will allow utility staff to focus on more valuable processes, to be trained in new areas, or to be taken out of the business.
Overall, task automation helps to cut utility operations costs.
Stuart Ravens, a principal research analyst with Navigant Research, said: “RPA offers the utility industry significant opportunities to automate high volume, repeatable, manual tasks.
“Many utilities have already implemented RPA, which has many use cases across the energy value chain. Benefits are typically first realised in the back office, but contact centers and even grid operations can also benefit.”
However, according to the report, RPA presents challenges if not implemented correctly.
For instance, a tactical approach to RPA can create automation silos that fail to scale or fully leverage value for all lines of business. More value can be lost if companies focus heavily on the cost efficiency aspects of automation.