Hyperautomation Market Size, Share, Growth, Regional Trends, Business Opportunities, Competition and Forecast to 2027
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.
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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.
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.
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Key Highlights from the Report
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.
The hyperautomation market in North America held the second-largest hyperautomation market share in 2019 and is likely to grow at a rate of 17.6% in the forecast period.
The report also offers regional level analysis and market estimation for the regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Regional Outlook of Hyperautomation Market:
Rest of Europe
Rest of APAC
Rest of LATAM
Middle East & Africa
Rest of MEA
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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)
Key Benefits of Buying the Global Hyperautomation Report:
Comprehensive analysis of the changing competitive landscape
Assists in decision making processes for the businesses along with detailed strategic planning methodologies
The report offers an 8-year forecast and assessment of the Global Hyperautomation Market
Helps in understanding the key product segments and their estimated growth rate
In-depth analysis of market drivers, restraints, trends, and opportunities
Comprehensive regional analysis of the Global Hyperautomation Market
Extensive profiling of the key stakeholders of the business sphere
Detailed analysis of the factors influencing the growth of the Global Hyperautomation Market
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