July 26, 2021, Gartner's "Magic Quadrant for Robotic Process Automation" (Magic Quadrant for Robotic Process Automation) was released. The Chinese robotic process automation (RPA) manufacturer "Laiye Technology" was selected and was recommended by Gartner along with established manufacturers such as UiPath, Automation Anywhere, and BluePrism.
In the report, Gartner highly recognized Laiye Technology's innovation, market understanding, and the dual ecosystem of partners and developers. Although has just emerged overseas, Laiye Technology’s revenue growth and capital endorsement have given Gartner a glimpse of this huge potential manufacturer, and its evaluation "may change the Asia-Pacific RPA market." In addition, this is also the first time a Chinese RPA manufacturer has been selected since Gartner released the annual report in 2019. In the "Magic Quadrant for Robotic Process Automation" report, Gartner evaluated 18 leading RPA vendors in the world and listed them in the four quadrants of leaders, challengers, visionaries, and field-specific players, for the digital transformation of enterprises Provide reference for selection with the development of intelligent automation.
Gartner is one of the most authoritative IT research and consulting organizations in the world. For a long time, its "Magic Quadrant" series of reports have been regarded by the industry as the "Oscar of the science and technology industry" and the "CIO (Chief Information Officer) Selection Bible".
China’s RPA vanguard is in line with the world
"For being selected into the Gartner Magic Quadrant, first of all, I would like to thank the research institutes and global customers for their recognition of Laiye Technology." said Wang Guanchun, Chairman and CEO of Laye Technology. "The'Magic Quadrant' is an annual blockbuster report recognized and highly concerned by global companies. Being selected also fully shows that Laiye's technology products, technologies and services have reached the level of the international leading echelon. In the innovative field of RPA,Chinese manufacturers are already in line with international standards.
In the report, Gartner spoke highly of Laye Technology and introduced the advantages of Laye Technology:
- Innovation: RPA+AI self-developed route: Different from other manufacturers who choose to supplement through partners Ability, Lai Ye Technology has developed an end-to-end automation platform from the ground up. The platform includes RPA, IDP, conversational AI, process mining and other capabilities that focus on end-to-end automation.
- market understanding: Laiye Technology’s product roadmap reflects the direction of the Chinese RPA market, including cloud-native deployment, enhanced computer vision , IDP capabilities, and robot stores.
- Partner and developer ecosystem: It has established an RPA ecosystem for the head of the Chinese market. According to reports, Laiye Technology has more than 500 partners, more than 400,000 developers, and is expanding its training and influence in many universities.
RPA, or robotic process automation, is an agile, efficient and cost-controllable digital transformation method. The main function is to configure the RPA software robot in the computer system to simulate the working state of humans, realize the automation of human routine operations, and handle the tasks of high repetitiveness, low added value, and unified rules in the production activities of the enterprise. It is equivalent to a virtual labor force, as a robot colleague of people in the workplace, which greatly reduces the tool attributes of people. In recent years, RPA has become one of the most concerned technology trends, not only because the emergence of RPA meets the needs of enterprises to reduce costs and increase efficiency through automation and intelligent technology, but also it can liberate employees from boring and repetitive data handling tasks. Come out, let them focus on more creative core demands, and eventually grow into compound talents who can better process data, so as to create more value for the enterprise.
Therefore, under the background of enterprise digital transformation and comprehensive cost reduction and efficiency increase, RPA has become the world's fastest growing market segment in the software field, and it is also the world's most popular way to improve operational efficiency. One of the automation options.
In the RPA market survey released by Gartner in the first half of 2019, robotic process automation software increased by 63.1% in 2018, making it the fastest growing artificial intelligence software in the world. McKinsey data also came to the same conclusion. Among them, the global RPA market will reach 100 billion US dollars in 2025, and with an annual growth rate of 64%, it will become one of the fastest-growing technologies in artificial intelligence-related fields.
rapid growth also means fierce competition and rich changes.
The Magic Quadrant describes Gartner's objective analysis of manufacturers in the market based on standards. From the changes in the Magic Quadrant, the changes in the world RPA market can also be seen.
Compared with last year's report, in this year's report, the three quadrants of leader, challenger, and visionary have not changed much. Microsoft moved from the Challenger Quadrant to the Leaders Quadrant with its increasing RPA investment in the past year.
The change in the quadrant of specific players is relatively large, from 6 manufacturers last year to 8 this year. Among them, Laiye Technology, Cyclone Robotics, IBM , Kryon and Nintex are all new entrants. 4 are out. This all reflects the fierce market competition from the side. The addition of new players and the exit of old players can also tell that the industry reshuffle is in progress.
Gartner's definition of the quadrant of specific domains is: specific domains are usually engaged in vertical or functional areas, and they have powerful software products that are limited to specific regions or a subset of markets.
From this perspective, the selection of domestic manufacturers including Laiye Technology, on the one hand, shows that the strength of domestic RPA manufacturers is increasing sharply, and the potential for innovation is huge; on the other hand, it also shows that China and the Asia-Pacific market where it is located The scale is expanding, and the status of the world RPA market is getting higher and higher.
Among them, what is worth thinking about is why Laiye Technology was selected into the Magic Quadrant, and what is so outstanding about this young company?
Why is Laiye Technology?
"Gartner’s research is extremely detailed.The two major assessment directions are the Completeness of Vision and Ability to Execute on the abscissa. It involves more than 200 nuanced and small issues, and will be adjusted according to the annual market conditions. It is an all-round consideration of IT vendors' technical service capabilities, innovation capabilities, service perfection, and management team experience. "Wang Guanchun said, "It is precisely because of Gartner's scientific, meticulous and comprehensive research that the conclusions of the Magic Quadrant are highly credible, and companies around the world are willing to regard it as an important reference for model selection. "
Magic Quadrant will use a two-dimensional model to illustrate the strength and differences of each manufacturer and supplier. Specifically, the forward-looking includes the ability of the manufacturer or supplier to provide the underlying technical foundation of the product, market leadership, innovation and External investment, etc.; execution capabilities include the difficulty of using products, the completeness of market services and technical support capabilities, the experience and capabilities of the management team, etc.
Laiye Technology was founded in 2015 and was the first to provide C-end intelligence in a self-operated model Assistant products and services started, and then gradually developed into a dialogue robot platform with AI technology as the core. In June 2019, Lai Ye Technology announced the completion of the merger with RPA startup Orson Technology and entered the "RPA+AI" market. Currently, Lai Ye Technology has helped corporate customers in multiple industries such as insurance, communications, power, finance, and retail, as well as public utilities such as smart cities, government services, medical and social insurance, public healthcare, and colleges, to achieve in-depth breakthroughs in various business scenarios. Get through.
Starting from Gartner's research dimensions, it is not difficult for us to derive the reasons why Chinese RPA manufacturers represented by Yee Technology were selected in the Magic Quadrant.
A very important reason is that Yee Technology’s long-term RPA+AI technology layout and Accumulation, the layout of is rare in the current Chinese market. This is not only due to the strategic vision of Laiye Technology, but also because of the characteristics of the Chinese market: Compared with the global market, large Chinese companies have embraced and embraced AI capabilities. The degree of acceptance is high, and after the epidemic, the enthusiasm of companies for their own digital needs is gradually increasing.I hope to use the PRA platform and AI capabilities to help myself complete the transformation of intelligent automation, which has become a unique advantage for Laiye Technology to continue to expand the Chinese market.
In terms of the company's underlying technical capabilities, Laiye Technology is one of the few RPA vendors in the world with native AI capabilities. The R&D team of Laiye Technology is derived from the intelligent voice assistants of , Baidu and the original team based on the "Key Wizard". This makes Laiye Technology have 20 years of RPA experience, making its RPA+AI products have native OCR , NLP, dialogue robot and other capabilities.
On July 21, Gartner released its annual blockbuster report "Hype Cycle for ICT in China, 2021" In the field of NLT, Laiye Technology is one of the few vendors that can be recommended at the same time as BAT, Huawei, AWS and other giants.
In addition, it is precisely because of the double accumulation of Laiye Technology in the RPA field and AI-related fields that it is able to help enterprise customers push automation to a wider range of business scenarios, connecting the business from the front-end to the back-end, and achieving "end-to-end" Intelligent automation at the end”. In May 2020, Laiye Technology launched the world's first AI capability platform "UiBot Mage" specifically for RPA robots.
In terms of market leadership, focusing on vertical industries, Laiye Technology has served Shougang shares , Jointown, China Southern Power Grid, Taiping Insurance, Longfor Real Estate and many other industry top 500 benchmark customers. Statistics show that among the top 500 companies in China, one out of every five companies is using Laiye Technology's intelligent automation products. It is reported that as of May 2021, Laiye Technology’s RPA software subscription revenue has increased by 9 times year-on-year. In the fourth quarter of 2020, the dialogue robot business will achieve profitability and the overall corporate business cash flow will be positive.
Laiye Technology is also the only Chinese manufacturer to be selected in HFS Research's report on the Asia-Pacific RPA market. In the latest "IDC MarketScape: Evaluation of Chinese RPA Software Platform Vendors, 2021" released by IDC on July 22, it also stated that Lai Ye Technology is a leader in the Chinese RPA market.
IDC MarketScape: Evaluation of Chinese RPA software platform vendors, 2021
In terms of innovation and market foresight, Lai Ye Technology still focuses on the development of combined applications of AI and RPA. It always believes that whether it is in IDP or conversational AI , Or process mining, there is room for AI to join and optimize.
The "dual ecology" of partners and developers is also one of the killer features of Laiye Technology. More than 500 partners and more than 40,000 developers have built an active "RPA+AI" community, which creates a better environment for the popularization of RPA and the development of new applications. The existence of developers can satisfy the personality of the enterprise This is also the development direction of the RPA market in the future.
Today, when labor costs are gradually increasing, easy-to-use products can help companies and users reduce costs and increase efficiency. The larger number of users also means that more developers participate, a larger application ecosystem is formed, and the speed of building process scenarios will become faster and faster.
"This emphasizes the importance of development tools. The meaning of development tools is to be used by as many people as possible. To be such a developer community is the only way to achieve this goal. In the list of products that are also provided, development tools account for a very important proportion.” said Chu Rui, CPO of Lai Ye Technology.
, as a development tool, must stand firm in the market. On the one hand, the difficulty of using the product must be gradually reduced, and on the other hand, the ability of technical support must be maximized. This undoubtedly enhances the forward-looking vision of the Laiye technology market.
In the capital market, Laiye Technology has also attracted much attention. Since 2019, the company has completed three rounds of financing,They are the US$35 million in Series B+ financing, the US$42 million in Series C financing in February 2020, and the US$50 million in Series C+ financing completed in May 2021.
"Being selected into the Magic Quadrant is a milestone for Laiye Technology. This is also the result of the company's adherence to the RPA software and AI self-research route and the dual ecological construction of partners and developers." Wang Guanchun said: "This is Gartner The RPA Magic Quadrant report was released for the third time in history, and Chinese manufacturers were shortlisted, which is very rare in the enterprise software field. It shows that Chinese companies on the AI Track have a lot to do, and they feel that there is a long way to go. It is a motivational agent to inspire Laiye Technology to further enter the world.
It is worth mentioning that it is precisely because of the good times, the right place and the right people, Laiye Technology has been actively followed by Gartner since 2018. In the same year, it was also selected as Gartner's Cool Vendor. "Artificial Intelligence in Asia" report, the core strengths in the three AI technology fields of Natural language processing (natural language processing), speech recognition (speech recognition) and text-to-speech (text to speech) have been recognized; 2020 and 2021, Lai Ye Technology has been continuously selected in the Gartner "China ICT Market Technology Maturity (Hype Cycle)" report, and in the "Market Guide (Market Guide): China Artificial Intelligence Startup Company" report released by Gartner in 2021, Lai Ye Technology has been selected as a Chinese labor force. A representative of a smart startup company was recommended.
Future: to build a world-class "RPA+AI"
Being selected into the RPA Magic Quadrant, it means that domestic RPA has entered the global RPA market and has a very good endorsement effect for Chinese manufacturers. "Many overseas companies will use the Magic Quadrant as the standard when purchasing RPA, which also means that Laiye Technology will be recommended by the world, which will be very helpful for the company to further promote its international strategy." Wang Guanchun said.
With the continuous development of data science,Intelligent automation technology represented by RPA is constantly being integrated into the work. According to a McKinsey survey, at least one-third of current activities can be automated in approximately 60% of occupations. According to IDC's estimates, by 2023, the global RPA market will reach 3.9 billion U.S. dollars. The Chinese RPA market has strong growth momentum. The market size will reach 1.02 billion U.S. dollars in 2023, with a compound growth rate of 64% from 2018 to 2023. In addition, Bain & Company estimates that the potential market size of automation software has increased to approximately $65 billion.
Such a large and still growing market has also attracted Amazon, Alibaba Cloud, Huawei Cloud, Google Cloud, Microsoft, IBM and other giants have entered the game, as well as UiPath and Blue Prism and other European and American pioneers. Development enterprise. Going to the world means to further compete with them.
Regarding this, Wang Guanchun believes that Laiye Technology, which has both native AI and RPA capabilities, is also competitive on the world stage. "In the future, the application of AI in RPA will become more and more in-depth. To a certain extent, customers will have higher requirements for manufacturers' AI innovation and products and services. And China's AI technology and AI applications are leading the world. Position, which has laid a good foundation for RPA Chinese manufacturers to explore the world market.” Wang Guanchun said, “RPA+AI is also a market with high barriers. To further open the market, it must continue to invest in innovation and shape the company’s uniqueness. China has a wealth of developer resources and has an advantage in this regard.”
Laiye Technology has already begun its journey to the world market. In the past year, in terms of market expansion, Laiye Technology has established teams in Southeast Asia, Latin America, the United Kingdom, and the European Union. While actively deploying in relatively mature markets such as Europe, it is also opening up the blue ocean market to use the technology’s native AI capabilities and The global developer ecosystem provides more cost-effective and differentiated solutions. Steadily promote the creation of world-class RPA+AI platforms, solutions and services.
In the construction of dual ecology, Laiye Technology plans to build the world's largest software robot developer community and robot trading market within three years, and to pass school-enterprise cooperation and community operation certification by 2025 to 1 million developers.By cultivating more talents who understand RPA and AI for the entire society in the intelligent era, the digital labor force will be accelerated to the government, power, finance and other industries. "We hope that through a series of efforts, we can strive to enter the Leaders Quadrant of the Magic Quadrant sooner!" Wang Guanchun said.
.
