CrowdStrike, UiPath Converge Security and Robotic Process Automation
CrowdStrike has extended its endpoint security software to UiPath’s Robotic Process Automation (RPA) software platform. In theory, the integration may allow MSSPs, MSPs and security operations centers (SOCs) to further automate threat discovery, response and other cybersecurity services.
Together, CrowdStrike and UiPath “automatically detect threat activity, whether initiated by humans or robots, to grant the security team real-time visibility across the environment and enable proactive responses,” the two companies assert.
RPA software allows businesses to write code and bots that rapidly automate manual tasks across multiple departments — from IT service desks to HR, finance, customer support, SOCs and more.
RPA Software Market Forecast, Growth, M&A
The global RPA software market is expected to reach $13.74 billion by 2028, up from $1.57 billion in 2020. The market’s compound annual growth rate from 2021 to 2028 is expected to be 32.8%, Grand View Research predicts.
Perceived RPA market leaders include UiPath and Automation Anywhere. Still, RPA market competition is intensifying. Amid all the growth, multiple venture capital firms, private equity firms and software companies are buying their way into the RPA sector.
Key M&A buyers in the RPA sector include IBM, Microsoft, Salesforce and ServiceNow. Moreover, Vista Equity Partners acquired Blue Prism Group for $1.5 billion in September 2021. Next, Blue Prism will merge into Tibco Software. Vista has owned Tibco since 2014.
RPA software providers are working hard to drive, manage and monetize the market growth. UiPath launched a successful IPO in April 2021, and inked a global distribution partnership with Ingram Micro in May 2021.
Much of the RPA software industry focuses on enterprise customers. Still, RPA may even eventually catch on in the SMB market as MSPs seek to further automate internal and customer operations — including cybersecurity.
RPA Software for MSPs, SMB Security
Also, additional RPA startups are targeting the MSP market. One prime example: ElectroNeek raised $20 million in June 2021. The company’s goal: Build and promote RPA software for MSPs and IT teams. Also, there’s chatter about former MSP security entrepreneurs preparing to launch an MSP-focused RPA company sometime later this year. Stay tuned.