Hyperautomation Market - Global Industry Size, Share, Trends, Opportunities and Forecast, 2018-2028

Hyperautomation Market is anticipated to grow at a robust pace in the forecast period, 2024-2028 due to the digitalization of conventional manufacturing plants and the rising use of automated manufacturing processes across many sectors. The fast expansion of digital transformation with advanced hyper automation approaches is also fueling market growth. Furthermore, an increase in automation demand because of increased digitization across various sectors is anticipated to be an opportune for market growth.

Due to the increasing demand for business automation, a digital process automation solution is most commonly utilized in organizations that require effective back-end processing administration. As a result, more businesses are being established, including BFSI firms, industrial industries, and internet merchants. The market is expanding as organizations embrace automation more quickly. By automating all the repetitive manual procedures traditionally performed by people, an organization may drastically speed up operations while minimizing mistakes. It is a combination of multiple automation tools that enable organizations to automate business processes, such as data analysis, decision-making, and process execution. The increasing demand for automation solutions to reduce human efforts, improve business processes, and increase customer experience are the primary factors driving the market growth. The increasing demand for automated cloud-based solutions and the rising need for cost-effective operations are some of the other factors driving market growth.

The growing use of automation in the industrial sector is projected to fuel the hyperautomation industry. The next generation of robots and automation technology provides a game-changing potential for the industrial industry to increase productivity, quality, safety, and cost parameters. It is something that manufacturers worldwide are aware of. Furthermore, increased robotic automation investment year over year is essentially widening the research market's emphasis.

Increased Use of Cloud-Based Technologies

Cloud-based technology use has risen dramatically in recent years throughout the world. Cloud-based software deployment is predicted to account for almost 80% of the worldwide information and communication technology market by 2023. Companies are expanding their investments in cloud technology in response to the growing demand to properly manage IT resources and improve data storage efficiency. Because of the integration of ML, AI, and RPA in organizational workflows, hyper automation has resulted in an exponential growth in data creation.

The emphasis on lowering data storage and maintenance costs is driving the use of cloud-based technologies, which is boosting the hyper automation industry.

Problems with Cloud Security and Network Transmission

Hyper automation depends largely on cloud-based services to lower total costs, and they are vulnerable to service degradation or control loss, data leakage, service loss including service interruption, or, in worst-case scenarios, monetary loss. To function properly, hyper automation requires a powerful network as well as communication services. Average network communication in places such as South America, Asia Pacific, and the Middle East and Africa is incompatible with the adoption of hyper automation in SMEs. The market's growth is being stifled by the low quality of network communication services as well as security risks.

Furthermore, the increasing trend of digitalization and the rising adoption of automation solutions to reduce operational costs are also driving the market growth. However, the lack of skilled professionals and the high cost associated with the implementation of hyperautomation are some of the factors restraining the market growth. The increasing demand for digital transformation is expected to create lucrative opportunities for the market.

Market Segmentation

Global Hyperautomation Market is segmented By Technical Type, By Deployment Type, By End User, Region and Competitive Landscape. Based on Technical Type, the market is segmented into Machine Learning, Biometrics, Context-Aware Computing, Natural Learning Generation, Chatbots, and Robotic Process Automation. Based on Deployment Type, the market is segmented into Cloud and On-Premise. Based on End User, the market is divided into BFSI, Retail, IT & Telecom, Education, Automotive, Manufacturing, and Healthcare.

Market players

Major market players in the global Hyperautomation market are UiPath Inc., Alteryx, Inc., SolveXia Pty Ltd, Automation Anywhere, Inc., Catalytic, Inc., Appian Corporation, Mitsubishi Electric Corporation, OneGlobe LLC, Allerin Tech Pvt. Ltd, Honeywell International Inc.

Report Scope:

In this report, the Global Hyperautomation Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Hyperautomation Market, By Technical Type:

• Machine Learning
• Biometrics
• Context-Aware Computing
• Natural Learning Generation
• Chatbots
• Robotic Process Automation

Hyperautomation Market, By Deployment Type:

• Cloud
• On-Premise

Hyperautomation Market, By End User:

• BFSI
• Retail
• IT & Telecom
• Education
• Automotive
• Manufacturing
• Healthcare

Hyperautomation Market, By Region:

• North America
• United States
• Canada
• Mexico
• Asia-Pacific
• India
• China
• Japan
• South Korea
• Australia
• Singapore
• Malaysia
• Europe
• Germany
• United Kingdom
• France
• Russia
• Switzerland
• Belgium
• Italy
• South America
• Brazil
• Argentina
• Colombia
• Peru
• Chile
• Middle East & Africa
• Saudi Arabia
• South Africa
• UAE
• Israel
• Turkey

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Hyperautomation Market.

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