Global Hyperautomation Market 2023-2030

Global Hyperautomation Market 2023-2030

Global Hyperautomation Market Size, Share & Trends Analysis Report by Component (Solutions/ Services), by Technology (Robotic Process Automation (RPA), Machine Learning (ML), Natural Language Generation (NLG), Biometrics, Chatbot, Context Aware Computing, and Computer Vision), and by End-User Vertical (Manufacturing, Retail, IT & Telecom, Education, Automotive, Manufacturing, and Healthcare & Life Science) Forecast Period (2024-2031)

The global hyperautomation market is anticipated to grow at a considerable CAGR of 19.5% during the forecast period. The high demand for hyperautomation from several end-user industrial verticals is a key factor driving the growth of the global market. According to the research of Salesforce and Vanson Bourne in June 2022, hyperautomation is a key priority for CIOs. The survey reveals that 80.0% of organizations will have hyperautomation on their technology roadmap within the next 24 months.

To meet the growing demand key market players are introducing advancements in their product offerings. In November 2022, Gluware, Inc. introduced Gluware 5, which includes new Gluware Topology, API modeling, and Gluware Service Connector features along with enhanced Gluware Network Robotic Process Automation (RPA) capabilities to accelerate digital transformation and network hyperautomation in enterprises. Powered by Gluware's embedded intelligence, Gluware 5 enables users to gain substantial and rapid value by phasing out resource-intensive manual network management. Gluware empowers its users to forge a pathway toward fully automated networks that provide a foundation for business innovation and competitive advantage.

Additionally, in May 2022, Pegasystems acquired Everflow, a Brazilian-based process mining company. This acquisition was done by Pega to position itself as a platform of choice for hyperautomation across the enterprise, building on its other recent platform advancements. Such strategies are being actively adopted by the companies operating in this industry to remain competitive in the marketplace.

Segmental Outlook

The global hyperautomation market is segmented based on component, technology, and end-user verticals. Based on components, the market is segmented into solutions & services. Based on technology, the market is segmented into Robotic Process Automation (RPA), Machine Learning (ML), Natural Language Generation (NLG), biometrics, chatbot, context-aware computing, and computer vision. Based on end-user vertical, the market is segmented into manufacturing, retail, IT & telecom, education, automotive, manufacturing, and healthcare & life science.

RPA to Hold Considerable Share in the Global Hyperautomation Market

The RPA is highly adopted by enterprises owing to its improved productivity, optimizing performance, integrating new technologies, generating higher returns, and moving business processes across the enterprise. The increasing demand for automation of business processes is one of the key factors promoting the adoption of RPA technology. Companies in robotic process automation have been collaborating to work towards offering enhanced RPA solutions that are anticipated to offer lucrative opportunities for the growth of this market segment. For instance, in September 2022, Hyperautomation professional services company Roboyo Group acquired Lean Consulting for an undisclosed amount. This acquisition will strengthen Roboyo Group's UK presence.

Regional Outlook

The global hyperautomation market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East & Africa and Latin America). Asia-Pacific is anticipated to exhibit considerable growth in the global market. The regional market is driven by the growing industrialization and high adoption rate of automation in industries.

North America Held Considerable Share in the Global Market

The regional market share is driven by the high automation level in regional industries, the presence of key market players, and robust IT infrastructure. The high demand for hyperautomation from end-user verticals has promoted the players to make advancements in their product offerings. In April 2023, Toyota Motor North America is shifting its automation agenda into high gear with a range of tools centered on the cloud as part of a strategy to reap savings and evolve toward data-informed operations.

Market Players Outlook

The major companies serving the global hyperautomation market include Alteryx, Inc., Automation Anywhere Inc., SolveXia, Mitsubishi Electric Corp., and Catalytic Inc. among others. The market players are considerably contributing to the market growth by the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and advancement in their solution & services offerings to stay competitive in the market. For instance, in September 2023, Rotterdam-based Ciphix, an IT implementation company acquired Amsterdam’s Webflight, a low-code application developer. The acquisition was done by the company to enhance its hyperautomation capabilities.

Further, in May 2023, Zvolv, has announced new generative AI capabilities along with the launch of the 3.0 version of its micro-services Low-Code No-Code (LCNC) platform. The new middleware – Z-wall - expands Zvolv’s already extensive enterprise automation and app-building functionality with built-in capabilities that enable leveraging the power of generative AI in next-generation enterprise AI apps.

The Report Covers

Market value data analysis of 2023 and forecast to 2031.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global hyperautomation market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.