Hyperautomation Market Forecasts to 2030 - Global Analysis By Type, Deployment Mode, Organization Size, Technology, Application, End User and By Geography

According to Stratistics MRC, the Global Hyperautomation Market is accounted for $12.9 billion in 2024 and is expected to reach $42.1 billion by 2030 growing at a CAGR of 21.8% during the forecast period. Hyperautomation is a strategy aimed at automating business and IT processes by integrating technologies like RPA, AI, and ML. It aims to transform isolated processes into intelligent systems, enhancing efficiency and effectiveness. Key characteristics include integrating technologies like process mining, AI, and workflow automation, targeting enterprise-wide processes, and focusing on continuous improvement through data insights to refine processes and enhance decision-making capabilities.

According to the Society of Actuaries (SOA), nearly two-thirds of executives anticipate that predictive analytic tools will cut organizational costs by 15% or more by 2023.

Market Dynamics:

Driver:

Booming e-commerce sector

E-commerce companies are utilizing hyperautomation solutions to automate order processing, inventory management, customer engagement, targeted marketing, pricing and competitive analysis, and supply chain optimization. These solutions reduce manual intervention, improve order fulfillment speed, and optimize inventory levels. AI-powered chatbots and virtual assistants provide 24/7 assistance, while AI-based forecasting models predict demand. Hyperautomation also enhances supply chain accuracy, efficiency, and cost-effectiveness. Thus the industry's rapid growth and focus on automation are driving its adoption.

Restraint:

Lack of skilled personnel

Hyperautomation solutions can be delayed due to the lack of skilled professionals, leading to inefficiencies and suboptimal performance. This can result in increased costs, as companies may need to invest in training programs or external consultants. Additionally, the lack of skilled professionals can deter organizations from adopting hyperautomation, as they may perceive the challenges as too complex or costly hampering the growth of the market.

Opportunity:

Increased demand for automation in banking and digital transformation initiatives

Automation in the banking sector offers numerous benefits, including enhanced operational efficiency, improved customer experience, competitive advantage, cost reduction, and scalability. By streamlining processes like customer onboarding, transaction processing, and compliance checks, banks can lower operational costs and deliver faster service. Additionally, automation helps maintain regulatory compliance, encourages innovation in services, and enables data-driven decision-making, enhancing strategic planning and operational effectiveness.

Threat:

Complexity of implementation

Hyperautomation projects can increase costs due to their complexity, requiring additional resources and specialized training. This can lead to operational disruptions, decreased productivity, and customer dissatisfaction. The complexity of implementation can also cause resistance among employees, leading to a lack of buy-in and the incorrect implementation can result in suboptimal performance, reducing benefits and deterring companies from investing in these solutions.

Covid-19 Impact:

The COVID-19 pandemic has significantly accelerated the hyperautomation market, resulting in increased demand for automation solutions and accelerated digital transformation. Organizations have adapted to remote work and digital operations, leading to increased investments in hyperautomation technologies. Hyperautomation has become a focus for resilience and efficiency, particularly in sectors like healthcare, banking, and retail. These sectors have benefited from automation in managing patient records, automating billing processes, and improving service delivery and regulatory compliance.

The integration technologies segment is expected to be the largest during the forecast period

The integration technologies is expected to be the largest during the forecast period owing to AI, machine learning, and robotic process automation are technologies that enhance efficiency and productivity by automating various processes. This can improve financial services productivity by up to 30% by minimizing manual intervention. Additionally, integrating these technologies with redesigned operational processes can lower operational costs by up to 30% by 2024, as it automates repetitive tasks and improves resource allocation.

The artificial intelligence segment is expected to have the highest CAGR during the forecast period

The artificial intelligence segment is expected to have the highest CAGR during the forecast period because AI algorithms can also automate complex business processes by analyzing historical data, identifying patterns, and suggesting improvements. This reduces human intervention and automates repetitive tasks, decision-making, and exception handling, enhancing decision-making and process automation thus propelling the growth of the market..

Region with largest share:

North America is projected to hold the largest market share during the forecast period owing to the rapid digitalization of traditional industries is driving hyperautomation adoption, with companies integrating advanced technologies like Robotic Process Automation, AI, and Machine Learning to improve operational efficiency and reduce costs. The U.S. manufacturing sector is a major contributor to the hyperautomation market.

Region with highest CAGR:

Asia Pacific is projected to witness the highest CAGR over the forecast period driven by the increasing demand for efficiency and productivity, cost reduction, and improved customer experience in industries like banking, healthcare, and manufacturing, and government initiatives promoting digital transformation. Moreover India is expected to be an attractive market for hyperautomation due to the numerous safe city projects announced in the country, which will encourage the use of AI, ML, and big data.

Key players in the market

Some of the key players in Hyperautomation market include akaBot, Allerin Tech Pvt. Ltd., Alteryx, Appian, Automate.io, Automation Anywhere, Catalytic Inc, Honeywell International Inc., Mitsubishi Electric Corporation, OneGlobe LLC, PagerDuty, Inc., Rocketbot, Simple Fractal, SolveXia, Tata Consultancy Services Ltd., UiPath and Wipro Ltd.

Key Developments:

In September 2024, Honeywell announced the completion of its acquisition of CAES Systems Holdings LLC (CAES) from private equity firm Advent International for approximately $1.9 billion in an all-cash transaction.

In August 2024, Honeywell announced collaboration with Cisco on an AI-powered solution that automatically adapts building systems based on fluctuating usage levels, reducing energy consumption and optimizing the environment for worker productivity and comfort.

In August 2024, Honeywell announced the launch of INNCOM Direct, an easy-to-install energy management system that uses automation to help improve energy efficiency in mid-market hotel properties.

Types Covered:

• Tools
• Integration Technologies
• Infrastructure Automation
• Security Automation
• Collaboration Automation
• Other Types

Deployment Modes Covered:

• Cloud-Based
• On-Premises

Organization Sizes Covered:

• Large Enterprises
• Small & Medium Enterprises

Technologies Covered:

• Artificial Intelligence
• Machine Learning
• Natural Language Processing
• Chatbots
• Internet of Things
• Context-Aware Computing
• Business Process Management
• Other Technologies

Applications Covered:

• Customer Experience Enhancement
• Operational Efficiency Improvement
• Decision Making Support
• Compliance & Regulatory Adherence
• Employee Productivity Enhancement
• Other Applications

End Users Covered:

• Manufacturing
• Healthcare
• Financial Services
• Retail
• Government
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances