Research firm Gartner is expecting significant growth for technology that enables organizations to rapidly identify, vet, and automate as many processes as possible and says it will become a “condition of survival” for enterprises. Hyperautomation-enabling technologies include RPA, low-code application platforms (LCAP), AI, and virtual assistants.
As for numbers, Gartner estimates the market for hyperautomation-enabling technologies will reach $596B in 2022, up nearly 24% from the $481B in 2020. The research firm expects that by 2024, organizations will lower operational costs by 30% by combining hyperautomation technologies with redesigned operational processes.
“The shift towards hyperautomation will be a key factor enabling enterprises to achieve operational excellence, and subsequently cost savings, in a digital-first world. Organizations are transitioning from a loosely coupled set of automation technologies to a more connected automation strategy. In response, vendors are developing integrated offerings that combine technologies like RPA, LCAP, and business process management into one, packaged tool.”
Cathy Tornbohm, Distinguished Research VP, Gartner
“Hyperautomation has shifted from an option to a condition of survival. Organizations will require more IT and business process automation as they are forced to accelerate digital transformation plans in a post-COVID-19, digital-first world.”
Fabrizio Biscotti, Research VP, Gartner