Research Nester published a report titled “Hyper Automation Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global hyper automation market in terms of market segmentation by technology, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global hyper automation market is anticipated to attain a CAGR of ~18% over the forecast period, i.e., 2022 – 2031.
The market is segmented on the basis of technology into robotic process automation (RPA), artificial intelligence (AI), machine learning (ML), biometrics, chatbots, natural language generation (NLG), and others. Out of these, the artificial intelligence segment is anticipated to hold a substantial share over the forecast period, on account of increasing adoption of AI amongst various end-user industries. In fact, the global AI industry amounted to approximately USD 315 billion in 2021.
The global hyper automation market is estimated to grow on the back of increasing adoption of automation and robotics amongst various sectors, along with the rapid digitalization across the world. For instance, the automation industry is estimated to generate around USD 214 billion in 2021. Hyper automation uses multiple technologies, tools or platforms, including AI, to facilitate automation of various industries. Moreover, the advancement of technology globally, is estimated to boost the market growth.
On the basis of geographical analysis, the global hyper automation market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is anticipated to gain the largest market share throughout the forecast period, owing to the increasing availability of advanced technology, combined with the presence of major market players in the region.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasing Adoption of Advanced Technology to boost the Market Growth
Hyper automation is a disciplined approach used to rapidly identify and automate as many business and IT processes as possible. The growing adoption of IoT, AI, and digitalization across various industry verticals is anticipated to encourage the market growth. Moreover, integrating tools and technologies to amplify the process capacity to automate work is projected to boost the market growth.
However, lack of skilled manpower in the hyper automation is expected to operate as key restraint to the growth of global hyper automation market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global hyper automation market which includes company profiling of Microsoft Corporation, IBM Corporation, Rockwell Automation Inc., SAP SE, Wipro Ltd., Allerin tech Pvt. ltd., OneGlobe LLC, Mitsubishi Electric Corp., and Infosys Ltd.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global hyper automation market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.