Table 1: Worldwide Forecast for Hyperautomation-Enabling Technologies (Millions of U.S. Dollars)
|Process-Agnostic Software That Enables Hyperautomation||19,604||25,108||30,184|
|Other Software That Enables Hyperautomation||462,030||507,316||566,433|
Source: Gartner (April 2021)
Gartner predicts that through 2024, the drive towards hyperautomation will lead organizations to adopt at least three out of the 20 process-agonistic types of software that enable hyperautomation.
“Organizations are transitioning from a loosely coupled set of automation technologies to a more-connected automation strategy,” said Cathy Tornbohm, distinguished research vice president at Gartner. “In response, vendors are developing integrated offerings that combines technologies like RPA, LCAP and business process management into one, packaged tool.”
The fastest-growing category of hyperautomation-enabling software includes tools that provide visibility to map business activities, automate and manage content ingestion, orchestrate work across multiple systems, and provide complex rule engines.
Technologies to automate content ingestion, such as signature verification tools, optical character recognition, document ingestion, conversational AI and natural language technology (NLT) will be in high demand. Organizations will need such tools to automate the digitalization and structuring of data and content – for example, automating the process of digitalizing and sorting paper records.
Gartner 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,” said Ms. Tornbohm.