Hyperautomation Market Growing at a CAGR 18.2% | Key Player UiPath, SolveXia, Appian, Wipro Limited
The global Hyperautomation market is expected to reach USD 22.84 Billion by 2027, according to a new report by Emergen Research. The hyperautomation market is experiencing a rapid growth attributable to the use of technologies comprising robotic process automation (RPA), artificial learning (AI), machine learning (ML), biometrics, and Chatbots, among others, in various industry verticals including BFSI, retail, manufacturing, automotive, and healthcare, among others.
Hyperautomation delivers various advantages as compared to other automation types comprising rapid automation of processes, improved workforce motivation, and satisfaction, assignment of employees to other critical tasks, implementation of advanced analytics, enhancement in insights’ precision, risk reduction, better compliance, increased productivity, and improved collaboration at workplace.
Growing automation trends in the manufacturing sector are gaining significant traction worldwide, and in turn, are driving the market growth. Several manufacturing firms are implementing hyperautomation for decreasing operational expenditure (OPEX) and improve the overall manufacturing process efficiency.
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The Global Hyperautomation Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market standing of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market at length. The report scrutinizes the strategic approach of key market players towards expanding their product offerings and fortifying their market foothold.
Key participants include UiPath, SolveXia, Appian, Mitsubishi Electric Corporation, Automation Anywhere Inc., Allerin Tech Pvt. Ltd., OneGlobe LLC, Wipro Limited, Tata Consultancy Services Ltd., and Catalytic Inc., among others.
Emergen Research has segmented the global Hyperautomation market on the basis of technology, industry verticals, and region:
Technology Outlook (Revenue, USD Billion; 2017-2027)
Robotic Process Automation (RPA)
Artificial Intelligence (AI)
Machine Learning (ML)
Natural Language Generation (NLG)
Industry Verticals Outlook (Revenue, USD Billion; 2017-2027)
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Key Findings from the Report Suggest:
By technology, natural language generation (NLG) is likely to grow at significant rate in the forecast period. NLG assists computers in transforming structured data into text information in a language understandable by humans. NLG platform provides dedicated solutions for end-users such as BFSI, manufacturing, and healthcare, among others, scalable and rapidly deployable at a lower cost of implementation.
By industry vertical, BFSI, in terms of market size, held the largest hyperautomation market share in 2019. BFSI industry possesses a huge prospective for the application of hyperautomation.
A few benefits offered by hyperautomation comprise marketing, sales & distribution, regulatory reporting, bank servicing, payment processing, lending operations, enterprise support, back-office operations, and others.
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The report further examines the market in the key regions of the world with regard to production and consumption patterns, import/export, supply and demand ratio, revenue generation, market share and size, and presence of prominent players in the regions. The report also covers the expansion plans undertaken by companies in the regions under the regional analysis section.
Key regions in the market include:
Rest of EU
Rest of APAC
Rest of Latin America
Middle East & Africa
Rest of MEA
Objectives of the Report:
Study of the global Hyperautomation market size by key regions, types, and applications with reference to historical data (2016-2018) and forecast (2020-2027)
Industrial structure analysis of the Hyperautomation market by identification of various sub-segments
Extensive analysis of key market players along with their SWOT analysis
Competitive landscape bench marking
Analysis of Hyperautomation market based on growth trends, futuristic outlook, and contribution to the total growth of the market
Analysis of drivers, constraints, opportunities, challenges, and risks in the global Hyperautomation market
Comprehensive analysis of competitive developments such as expansions, agreements, new product launches, and other strategic alliances
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