RPA and Hyperautomation

RPA and Hyperautomation

Global RPA and Hyperautomation Market to Reach US$37.1 Billion by 2030

The global market for RPA and Hyperautomation estimated at US$11.0 Billion in the year 2023, is expected to reach US$37.1 Billion by 2030, growing at a CAGR of 19.0% over the analysis period 2023-2030. Solutions Component, one of the segments analyzed in the report, is expected to record a 18.5% CAGR and reach US$26.0 Billion by the end of the analysis period. Growth in the Services Component segment is estimated at 20.3% CAGR over the analysis period.

The U.S. Market is Estimated at US$3.0 Billion While China is Forecast to Grow at 26.4% CAGR

The RPA and Hyperautomation market in the U.S. is estimated at US$3.0 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$9.5 Billion by the year 2030 trailing a CAGR of 26.4% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 14.6% and 16.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 15.4% CAGR.

Global RPA and Hyperautomation Market - Key Trends & Drivers Summarized

How Is RPA and Hyperautomation Transforming Business Processes?

Robotic Process Automation (RPA) and hyperautomation are revolutionizing the way businesses operate by automating repetitive tasks, streamlining workflows, and enhancing overall productivity. RPA enables organizations to deploy software robots, or "bots," to perform routine, rule-based tasks, such as data entry, invoicing, and customer service, with high accuracy and speed. Hyperautomation, which extends the capabilities of RPA, involves the integration of advanced technologies such as artificial intelligence (AI), machine learning (ML), and process mining to automate more complex processes and decision-making tasks. Together, these technologies are driving a new era of efficiency and innovation, allowing businesses to reduce costs, minimize errors, and respond more quickly to market changes.

What Technological Innovations Are Driving RPA and Hyperautomation?

The rapid advancement of AI, machine learning, and cognitive technologies is significantly enhancing the capabilities of RPA and hyperautomation, enabling these technologies to handle increasingly complex tasks and processes. The integration of AI and ML into automation platforms allows bots to learn from data, make predictions, and adapt to new situations, moving beyond simple task automation to more intelligent, decision-based automation. Additionally, the use of process mining and analytics tools enables organizations to identify inefficiencies in their workflows and optimize their automation strategies accordingly. The development of low-code and no-code platforms is also democratizing automation, making it easier for non-technical users to create and deploy bots, thus accelerating the adoption of RPA and hyperautomation across various industries.

What Industry Trends Are Influencing the Adoption of RPA and Hyperautomation?

Several industry trends are driving the adoption of RPA and hyperautomation, including the increasing demand for digital transformation, the need to enhance operational efficiency, and the growing focus on customer experience. As businesses across industries strive to remain competitive in an increasingly digital world, the adoption of automation technologies is becoming a key strategy for achieving greater efficiency and agility. The need to reduce operational costs and improve productivity, particularly in response to economic pressures and labor shortages, is also fueling the demand for RPA and hyperautomation solutions. Furthermore, the emphasis on delivering superior customer experiences is driving organizations to automate customer-facing processes, such as customer support and order processing, to ensure faster, more accurate service.

What Are the Key Drivers Behind the Growth of the RPA and Hyperautomation Market?

The growth in the RPA and hyperautomation market is driven by several factors, including the accelerating pace of digital transformation, the need to reduce operational costs, and the increasing complexity of business processes. The push for digital transformation across industries is a significant driver, as organizations seek to automate workflows and processes to stay competitive in a rapidly changing market. The need to reduce costs and improve efficiency, particularly in the wake of economic challenges and workforce shortages, is also propelling the adoption of automation technologies. Additionally, the increasing complexity of business operations, driven by factors such as globalization and regulatory compliance, is leading to greater demand for advanced automation solutions that can handle more sophisticated tasks and decision-making processes.

Select Competitors (Total 43 Featured) -

• AkaBot
• Alteryx, Inc.
• Appian Corporation
• Automation Anywhere, Inc.
• Celonis SE
• Compulink Management Center, Inc. dba Laserfiche
• Fortra, LLC
• International Business Machines Corp.
• Juniper Networks, Inc.
• Microsoft Corporaton
• NICE Ltd.
• PagerDuty, Inc.
• Pegasystems, Inc.
• SAP SE
• UiPath, Inc.

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