"Unleashing Tomorrow: The Evolution and Impact of Hyperautomation on Business and Industry."

Hyperautomation is a business-centric, disciplined approach that organizations use to quickly identify, inspect, and automate as many business and IT processes as possible. Hyperautomation involves the systematic use of multiple technologies. Hyperautomation allows companies to quickly identify and automate as many processes as possible using technologies such as robotic process automation (RPA), low-code application platforms (LCAP), artificial intelligence (AI), and virtual assistants.

Tools such as RPA, LCAP, and AI are considered process-independent software which is easier to be deployed across multiple IT and business uses in any organization. Process-agnostic software is most in demand as a major enabler of the ultra-automated trend.

The fastest-growing category of hyper-automated software includes tools for mapping business activities, automating and managing content ingestion, coordinating work across multiple systems, and visualizing the deployment of complex rule engines. The market is expected to grow at double-digit rates until 2022. Other software designed to automate more specific tasks, such as ERP, supply chains, and CRM systems also expected to grow at a substantial rate.

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Segments Covered :

By Enterprise Size

• SMEs

• Large Enterprise

By Technology

• Artificial Intelligence

• Machine Learning

• Robotic Process Automation

• Others

By End Use

• IT & Telecom

• BFSI

• Manufacturing

• Retail

• Automotive

• Others

Market Segmentation

Segmentation Analysis of Hyperautomation :

By Technology, Robotic Process Automation is expected to be dominating the Hyperautomation Market. Robotic Process Automation (RPA) is a technology that operates on top of a computer and works with nearly any sort of system. It helps firms automate repetitive procedures and make them human workforce more productive. It can save 25-50 percent of extra and operating costs. Robots can improve the efficiency and cost-effectiveness of the most repetitive tasks. RPA focuses on areas where there is a high risk of human mistakes, making it dependable and efficient while also helping to improve overall quality. The quality and analysis of data will increase as a result of its error-free and accurate data from multiple sources, resulting in improved corporate decision-making.

Therefore, RPA presents remarkable growth prospects during the forecasted period. The AI is also one of the branches of Hyperautomation that is growing at a fast pace in business integration. Artificial intelligence is a foundational catalyst for advanced process automation and human augmentation and engagement. Automation is highly dependent on the organization’s existing IT architecture and business practices to be successful. Whether leveraging robotic process automation to connect legacy and modern systems or Hyperautomation to connect a combination of multiple machine learning, packaged software, and automation tools to deliver work.

By Application, Large enterprise segment is dominating the Hyperautomation Market. Large enterprises are the general use of such newly emerging technologies due to massive operations and enormous data which need to be organized in the optimum way to improve the efficiency of the company. Large manufacturing firms, banking, and financing institution, and companies as well as giant e-commerce platforms require to automate large inventory management, documentation, invoices of internal and external sources, as well as repetitive data filing and reporting reduces the efficiency of the company.

Integration of business process management and robotic process automation, increased the productivity by 30-35% in overall operation which can project the greatest return on investment in such software. Therefore, large enterprises show a great opportunity for the growth of Hyperautomation during the forecasted period.

By End-Use Industry, Manufacturing sector is expected to dominate the Hyperautomation market. The manufacturing process that requires extensive documentation and communication across multiple platforms can become bottlenecks if not properly managed. Whether it's the supply chain or the back-office process, there are errors and delays in every step. Automating these processes not only streamlines the process, but also helps reduce errors and increase efficiency.

With RPA manufacturing integration, work can be carried out 24/7 without interruption, perform rule-based tasks accurately, and be scalable, flexible, and reliable. RPA also helps handle a large number of repetitive tasks and complete them with high accuracy. Errors can be detected and corrected immediately. For example, using a Blue Prism digital worker, the digital worker recorded every morning every product that was incorrectly labeled in inventory. Human workers have been released to do further research to improve the process.

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Players Covered in Hyper Automation :

• SolveXia

• Mitsubishi Electric Corporation

• Wipro Limited

• Catalytic Inc.

• Appian

• Tata Consultancy Services Ltd.

• OneGlobe LLC

• Automation Anywhere Inc

• JK Tech

• Vuram Technologies

• IBM

• Oracle and others major players.

Recent Key Developments of Hyperautomation :

1. Vuram, the Hyperautomation services company that focuses on low-code enterprise automation declared the launch of the upgraded Contract Management System solution at the US edition of the Hyperautomation Expo 2021. Vuram’s new Contract Management Solution is loaded with new features to tackle modern contract lifecycle management (CLM) challenges.

2. JK Tech, a global IT solutions company, has partnered with Evolute IQ, a market-leading ultra-automated technology company. Through this strategic alliance, JK Tech will use the e.IQ Low-code / No code Hyperautomation platform to co-develop innovative business solutions for claims, compliance, financial services, healthcare, retail customer journey management, and CPG.

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