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.
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
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.
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.
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.
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.