The global automation market map in short – key findings
The Open Ocean Intelligent Enterprise Automation Map consists of over 810 companies this year – marking a whopping 15 percent increase from last year. The broader software automation space, visualised through different colouring in this map, encompasses all solutions designed to assist enterprises in automating their manual and repetitive workflows. This includes identifying new automation opportunities, creating & managing in-house built automation workflows, as well as integrating "ready-made" solutions tailored to automate various workflows in specific corporate functions or verticals.
While the automation space continues to excite startups, in 2022 the space experienced a slight decline in private funding compared to the record-high levels seen in 2021. In 2022, private investors invested a total of ~$13.4Bn into automation software. This number has already been exceeded in just the first half of 2023. On top, even with a slower IPO market, an impressive 13 new unicorns emerged in 2022, bringing the total count of enterprise automation companies valued at over $1Bn to 92 in the automation map (source: OpenOcean analysis).
The enterprise automation space is witnessing a transformative shift through the use of AI. Already, we have observed several companies successfully implementing LLMs into their existing products, and we anticipate that this trend will only intensify in the near future. We expect to see a surge of startups fundamentally built around LLMs, for instance automatically building enterprise workflows, and continuing to reshape the landscape of enterprise automation in the years to come. The LLM landscape is changing rapidly, and several new unicorns that also are automation solutions were born in 2023 already. We will in the next Automation Map edition include these companies in a separate category, whereas OpenAI is included in this year’s map in the category of Conversational AI as the prime example of this development.