The Hyperautomation Market size is projected to reach USD 24.4 Million by 2027, from USD 8.3 Million in 2020 growing at a CAGR of 19.8% during 2021-2027.
Latest added Hyperautomation Market research study by MarketDigits offers detailed product outlook and elaborates market review till 2026. The market Study is segmented by key regions that is accelerating the marketization. At present, the market is sharping its presence and some of the key players in the study are UiPath, SolveXia, Appian, Mitsubishi Electric Corporation, Automation Anywhere Inc., Allerin Tech. The study is a perfect mix of qualitative and quantitative Market data collected and validated majorly through primary data and secondary sources.
This report studies the Hyperautomation Market size, industry status and forecast, competition landscape and growth opportunity. This research report categorizes the Hyperautomation Market by companies, region, type and end-use industry.
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Scroll down 100s of data Tables, charts and graphs spread through Pages and in-depth Table of Content on “Hyperautomation Market, By Deployment Mode (Cloud, On-premise), Technology (Robotic Process Automation (RPA), Artificial Intelligence (AI), Machine Learning (ML), Biometrics, Chatbots, Natural Language Generation (NLG) ), Industry Verticals (Banking, Financial Services & Insurance, Telecom & Information Technology (IT), Manufacturing, Construction, Wholesale Distribution, Non-profit Organizations, Chemicals, Food and Beverage, Retail) and Geography – Global Forecast To 2026”. Early buyers will get 10% customization on study.
To Avail deep insights of Hyperautomation Market Size, competition landscape is provided i.e. Revenue Analysis (M $US) by Company (2018-2020), Segment Revenue Market Share (%) by Players (2018-2020) and further a qualitative analysis is made towards market concentration rate, product/service differences, new entrants and the technological trends in future.
Unlock new opportunities in Hyperautomation Market; the latest release from MarketDigits highlights the key market trends significant to the growth prospects, Let us know if any specific players or list of players needs to consider to gain better insights.
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Global Hyper Automation Market: Introduction
Hyper automation is end-to-end automation within an enterprise, made possible by integration of multiple technologies such as robotic process automation, machine learning, artificial intelligence, cloud computing, edge computing, and many more. Hyper automation does not mean 100% automation within the enterprise as it requires collaboration between humans to implement the logic and the task.
Global Hyper Automation Market – Dynamics
Increase in Adoption of Cloud-based Technologies
In the current scenario, adoption of cloud-based technology has increased extensively across the globe. Cloud-based deployment of software is expected to hold approximately 80% share of the global information & communication technology industry by 2027. Companies are increasing investment in cloud technology with the increasing need to effectively operate IT resources and enhance data storage efficiency. Hyper automation has resulted in exponential increase in data generation due to integration of ML, AI, and RPA in the enterprise workflow. Focus on reducing the data storage and maintenance cost is leading to the increasing adoption of cloud-based technology, thus driving the hyper automation market.
Increasing Need to Reduce Operational Cost
Organizations are increasingly seeking to reduce the operational cost to survive in this competitive environment. Financial institutions, retail enterprises, and many other industries are eliminating manual operational work and shifting to workflow automation. Hyper automation drastically eliminates manual work and reduces the labor cost. Labor cost is one of the major costs incurred by organizations to maintain and manage IT resources.
Cloud Security and Network Transmission Issues
To reduce the overall cost, hyper automation relies heavily on cloud-based services and are susceptible to service impairment or control loss, data leakage, service loss including service interruption, or in worse cases, monetary loss. Hyper automation requires strong network as well as communication services to operate efficiently. In regions such as South America, Asia Pacific, and Middle East & Africa, the average network communication is not compatible to adopt hyper automation in SMEs. The limited quality of network communication service as well as risk of security is restraining the growth of the market.
North America to Dominate the Global Hyper Automation Market
In terms of region, the global hyper automation market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to dominate the hyper automation market during the forecast period due to strong adoption of machine learning, artificial intelligence, and robotic process automation within enterprises.
COVID-19 Impact on the Global Hyper Automation Market
The COVID-19 pandemic is expected to moderately impact the global hyper automation market for a short-term period. Lockdowns have resulted in total shutdowns, and companies are likely to resist in investing in new technology due to the expected economic depression across the globe. Hyper automation requires huge initial capital investment and due to the economic depression in year 2020, it is expected that business owners will be skeptical about new investment for the years 2020 and 2021.
Global Hyper Automation Market – Competition Landscape
- In May 2020, UiPath, the leading enterprise Robotic Process Automation (RPA) software company launched an end-to-end hyper automation platform, that will enable employees to both engage in the automation process and benefit from working alongside robots every day.
UiPath was founded in year 2005. UiPath initially started by outsourcing automation libraries and software to some of the world’s biggest companies. In 2015, the company launched free courses for UiPath Academy and started teaching RPA to over 35,000 now certified developers, propelling exponential growth. In the current market scenario, the company has 7,000+ enterprise customers and has raised over US$1Bn to a valuation of US$10.2 Bn.
Global Hyper Automation Market: Segmentation
The global hyper automation market can be segmented based on:
Global Hyper Automation Market, by Deployment
Based on deployment, the global hyper automation market can be divided into:
Global Hyper Automation Market, by Industry
In terms of industry, the global hyper automation market can be segregated into:
- Banking, Financial Services & Insurance
- Telecom & Information Technology (IT)
- Wholesale Distribution
- Non-profit Organizations
- Food and Beverage
- Others (Hospitality, Government, and Public Sector, etc.)
This study by MarketDigits is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at MarketDigits adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by MarketDigits are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at MarketDigits helps you break down the complex scenario and bring resiliency in uncertain times.
All viewpoints in the report are based on iterative validation by engaging influencer, experts of the market, whose opinions supersede all other research methodologies. Both primary and secondary approach are used and detailed product portfolio / service offering were analysed and have been presented in a separate chapter of competitive landscape along with company profile.
Detailed Insights on Market Concentration Rate:
CR4, CR8 and HHI Index Analysis of Overall Market
Comparative Market Share Analysis (Y-o-Y)
Emerging Players – Heat Map Analysis
MarketDigits MR also offers Custom Research services providing focused, comprehensive and tailored research according to clientele objectives. Thanks for reading this article; you can also get individual chapter wise section or region wise report like North America, Europe or Asia.
Table of Contents
1 Market Overview
1.1 Global Hyperautomation Introduction
1.2 Market Analysis by Type
1.3 Market Analysis by Applications
1.4 Market Analysis by Regions
1.5 Market Dynamics
1.5.1 Market Opportunities
1.5.2 Market Risk
1.5.3 Market Driving Force
2 Manufacturers Profiles
2.1.1 Business Overview
2.1.2 Hyperautomation Type and Applications
2.1.3 Hyperautomation Sales, Price, Revenue, Gross Margin and Market Share (2021-2027)
3 Global Hyperautomation Market Competition, by Manufacturer
4 Global Hyperautomation Market Analysis by Regions
5 Region 1, Type, Application and Manufacturers
10 Global Hyperautomation Market Segment by Type
11 Hyperautomation Market Segment by Application
12 Hyperautomation Market Forecast (2021-2027)
13 Sales Channel, Distributors, Traders and Dealers
14 Research Findings and Conclusion
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