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Hyperautomation Market (Technology - Robotic Process Automation (RPA), Machine Learning (ML), Natural Language Generation, Chatbots, Biometrics, and Others; End-user - BFSI, IT & Telecom, Automotive, Retail, Healthcare, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

  • Published : January, 2022

  • Rep Id : ICT003047

  • Category : Electronics, ICT and Semiconductors

  • Status : Published

A recent report published by Infinium Global Research on hyperautomation market provides in-depth analysis of segments and sub-segments in the global as well as regional hyperautomation market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional hyperautomation market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global hyperautomation market. According to the report, the global hyperautomation market is projected to reach USD 1919.1 million by 2027 from USD 686.1 million in 2021, growing at a CAGR of 18.70% over the forecast period of 2021-2027.

 

Market Insight

Advancements in modern technologies have brought transformation to different industrial verticals including manufacturing, healthcare, retail, telecommunications, and others. Emerging technologies have augmented the trend of automation across these industries. Moreover, the adoption of automation has increased over the past few years owing to the growing awareness among businesses to leverage technology to automate certain business processes and improve productivity. Furthermore, the advent of hyperautomation has led businesses to easily identify, assess and automate as many processes as possible using advanced technology, such as Robotic Process Automation (RPA), Machine Learning (ML), Natural Language Generation, and virtual assistants.

 

The growing concern over the spread of coronavirus had a moderate impact on the hyperautomation market. From a regional point of view, the outbreak of COVID-19 led to a major interruption to the export-dependent economies due to the temporary shutting down of manufacturing facilities. For instance, the automotive sector in Germany was affected seriously as a large part of the automobile trade takes place with China and Italy. Apart from the issues related to exports and imports, the growth of the manufacturing industry across the globe was also hampered by the slowdown in operations. This was caused by the government restrictions imposed in order to contain the spread of COVID-19. Lower sales along with the reduced manufacturing activities hampered the adoption of hyperautomation. Nevertheless, the adoption of hyperautomation from sectors such as healthcare, BFSI, and retail increased during the pandemic. The rapid increase in sales in these industries during the pandemic was anticipated to drive the adoption of hyperautomation.

 

The rise in investment in artificial intelligence globally is driving the global hyperautomation market. Furthermore, the increasing adoption of smart business solutions is supporting the growth of hyperautomation market. Nowadays, organizations are becoming increasingly automated, self-monitoring and self-correcting as devices are acquiring the ability to analyze and communicate with each other and their human co-workers. However, the dearth of skilled professionals is majorly restraining the growth of the hyperautomation market. Although investments in the AI industry are on the rise, the dearth of skills and experience associated is still one of the major challenges. Moreover, the adoption of hyperautomation technologies to reduce the impact of COVID-19 is creating opportunities for market players. Widespread lockdowns, deficiency of labor force due to transport restrictions, and disruptions in the supply chain are expected to drive the demand for hyperautomation across different sectors.

 

In terms of geography, the global hyperautomation market is segmented into North America, Europe, Asia Pacific, and the rest of the World. The North American region accounted for the largest share in the global hyperautomation market. Domination of North America in the market is primarily attributed to national strategies such as American Artificial Intelligence Initiative, which pushes the United States' leadership in AI technology. Nonetheless, the hyperautomation market in the Asia Pacific is likely to grow exponentially due to the growing adoption of automation in China. The rise of the adoption of hyperautomation in China’s manufacturing sector is driven by favorable policies, abundant funds, and the potential for technological implementation. Moreover, the presence of several leading manufacturing industries in India and China such as semiconductors, automobiles, chemicals, food processing, retail, BFSI, and healthcare will be a key factor driving the adoption of hyperautomation in this region.

 

global-hyperautomation-market


Segment Covered

The report on global hyperautomation market covers segments such as technology, and end-user. On the basis of technology, the sub-markets include robotic process automation (RPA), machine learning (ML), natural language generation, chatbots, biometrics, and others. On the basis of end-user, the sub-markets include BFSI, IT & Telecom, automotive, retail, healthcare, and others.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Mitsubishi Electric Corporation, Automation Anywhere, Inc., Datamatics Global Services Limited, OneGlobe LLC, Catalytic Inc., Solvexis Ltd., Infosys Ltd., Tata Consultancy Services Limited, Appian Corp., and Rossum.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of hyperautomation market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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