How Has the Hyperautomation Market Size Evolved in Recent Years?
The hyperautomation market has seen considerable growth due to a variety of factors.
• The market size for hyperautomation has experienced a steep increase recently. It is projected to rise from $55.79 billion in 2024 up to $65.39 billion in 2025, with a compound annual growth rate (CAGR) of 17.2%.
The exponential growth during the historic period can be associated to the surge in digital transformation activities, the incorporation of the internet of things (IoT), growth in cloud computing, the growing complexity of business procedures, along with the rising demand for scalability and flexibility.
What are the Market Size and Expected Growth Rates for the Hyperautomation Market?
The hyperautomation market is expected to maintain its strong growth trajectory in upcoming years.
• In the upcoming years, the hyperautomation market is projected to witness a swift expansion. The market is anticipated to surge to $123.8 billion by 2029, registering a compound annual growth rate (CAGR) of 17.3%.
The growth during the estimated period can be linked to the growing need for efficiency and cost-cutting, continuous progress in artificial intelligence and machine learning, escalating focus on cybersecurity automation, quick expansion of edge computing, and the broadening of hyperautomation in small and medium-sized enterprises (SMEs). The forecast period will also be characterized by major trends such as human augmentation and collaboration, explainable AI and ethical dilemmas, self-governing processes and intelligent workflows, the spread of hyperautomation in edge devices, and technological progressions.
Which Key Drivers Are Propelling The Hyperautomation Market's Growth?
The hyperautomation market is poised for expansion due to the growing adoption of automation. Automation, which is the utilization of technology to manufacture and provide goods and services with little to no human assistance, effectively uses hyperautomation. It integrates top-tier technologies such as artificial intelligence, machine learning, and robotic process automation together. This technological fusion allows organizations to simplify intricate workflows, enhance efficiency, and promote digital transformation by automating everyday tasks and complex, knowledge-based undertakings. A report from Kissflow Inc, an American software company, revealed in January 2024 that automated job growth is at 14% annually. Furthermore, it was projected that 69% of managerial functions would be automated by 2024. Consequently, the accelerated application of automation fuels the hyperautomation market's growth.
What Are The Key Segments Within The Global Hyperautomation Market?
The hyperautomation market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Technology: Robotic Process Automation, Machine Learning, Biometrics, Chatbots, Context Aware Computing, Natural Language Generation, Computer Vision
3) By Deployment: On-Premise, Cloud
4) By Function: marketing And Sales, Finance And Accounting, Human Resources, Operations And Supply Chain, Information Technology
5) By End Use: Manufacturing, Automotive, Banking, Financial Services And Insurance (BFSI), Healthcare, IT And Telecommunication, Retail, Transportation And Logistics, Other End Users
Subsegments:
1) By Hardware: Robotic Process Automation (RPA) Devices, IoT Devices, Edge Computing Devices
2) By Software: RPA Software, Workflow Automation Software, Artificial Intelligence (AI) And Machine Learning (ML) Software, Analytics And Business Intelligence Software
3) By Services: Consulting Services, Implementation Services, Support And Maintenance Services, Training And Education Services
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What New Trends Are Influencing The Hyperautomation Market?
Significant corporations participating in the hyperautomation marketplace are pioneering groundbreaking technology, such as a unified iPaaS solution, which enables low-code programmers to swiftly and simply create reusable connectors as needed. The concept of a Unified Integration Platform as a Service (iPaaS) solution is essentially a comprehensive, centralized cloud-based platform that provides the means to integrate different applications, data sources, and systems within a company. As an example, Tray.io, a U.S-based integration platform firm, rolled out the Tray Universal Automation Cloud in June 2022 to expedite enterprise hyperautomation. It is equipped with numerous pre-configured connectors and possesses the ability to link to any app, database, or API. Tray UAC utilises AI to propose opportunities for automation and enhance workflow efficiency.
Who Are the Key Players In The Hyperautomation Market?
Major companies operating in the hyperautomation market report are:
• Amazon.com Inc.
• Alphabet Inc.
• Microsoft Corporation
• Intel Corporation
• International Business Machines Corporation
• Deloitte Touche Tohmatsu Limited
• Ernst & Young Global Limited
• Oracle Corporation
• Mitsubishi Electric Corporation
• SAP SE
• Tata Consultancy Services Limited
• Infosys Limited
• Baidu Inc.
• Wipro Ltd.
• Genpact Limited
• SAS Institute Inc.
• Nutanix Inc.
• Cyient Ltd.
• Automation Anywhere Inc.
• Cloudera Inc.
• BlackSwan Technologies Inc.
• Gorilla Technology Group
• OneGlobe LLC
• Tact.ai Technologies Inc.
• ClearBlade Inc.
• Gigaforce Inc.
• SolveXia Pty Ltd.
What Are The Regional Insights Into The Hyperautomation Market?
North America was the largest region in the hyperautomation market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hyperautomation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
