Press release
Hyperautomation Market Global Scenario, Market Size, Outlook, Trend, and Forecast, 2019 – 2028
The global hyerautomation market is expected to reach the market revenue of US$ 28.56 billion by 2028
The integration of robotic process automation (RPA) with AI, NLP and machine learning can advance the capabilities of software bots and allow task conclusion in parallel to human decision-making skills. Hyperautomation market attributes to an increased use of the AI and machine learning along with the robotic automation process. Many industries or organizations have initiated chatbots and biometrics making ease for the employees to perform from home when required or having off-duty work. Moreover, need for automation in manufacturing and healthcare services helps the market for the growth at admirable frequency.
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By industry vertical, the manufacturing industry is projected to reach the highest share and would grow at the fastest rate during the forecast period. Demand for the BFSI sector is increasing in the upcoming years owing to facilities which help the banks and finance companies as an example e-KYC in banking and financial companies offers data access of the customers. Several industries have shifted towards the usage of ML and AI to their setup and aided numerous companies to improve their operation and maintenance thus driving the hyperautomation market However, dearth of skilled and trained manpower is the current limitation faced by the industries. Lack of familiarity involving advanced tools such as ML and AI restricts the growth of the global hyperautomation market during the forecast period.
Geographically, robot process automation has seen the steepest demand from North America region in the past few years. Additionally, US$ 8 billion had been invested by major venture industrial companies in the past few years. Based on revenue, Asia Pacific region dominated the hyperautomation market share having 42.8% in 2019 due to China. The market in the region is attributable to a revolution in the manufacturing sector adopting for robot process automation and AI. The European region is expected to rise owing to an increase in the manufacturing of automobiles in the region.
Prominent competitors inducing the Hyperautomation Market are Amazon, Appian, Automation Anywhere Inc., IBM, OneGlobe LLC, Tata Consultancy Services Limited, Vuram, Allerin Tech Pvt. Ltd, Atos, Catalytic Inc., Mitsubishi Electric Corporation, Google, Cigniti, Wipro Ltd and UiPath among others
The global Hyperautomation market is segmented by components, technology, deployment mode, end-user and geography. By components, the report is listed into hardware, software, and solution. By technology, hyperautomation market bifurcates into artificial intelligence, machine learning, biometrics, chatbots, robot process automation, natural language processing and others. By deployment mode, report analysis categorizes by introduction, on- premises and cloud. Several industries have started using the process of hyperautomation for its functioning which segments into manufacturing, retail, banking financial services add insurance (BFSI), healthcare, automotive and others.
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Accurize Market Research (AMR) is a full-service market research and business-consulting company which provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Industry Intelligence Solutions”. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.” Destined by the dedicated team of analysts and experts, we are envisioned to provide you our best in order to plan your next strategic across several industry verticals.
We at Accurize Market Research provide syndicated as well as customized reports across domains namely Consumer Goods, Food & Beverages, Manufacturing, Medical Devices, Mining Equipment, Automation, Manufacturing, Healthcare & Medical, and Defense & Aerospace, Semiconductor & Electronics, Construction, Information and Communication, Construction, Banking, Financial Services and Insurance (BFSI), and Energy among others. These industry vertical areas are further studied and analyzed across different geographies namely North America, Europe, Asia Pacific and Rest of the World (RoW). The countries across these major geographies are also covered under the scope of our study; such as the U.S., Mexico and Canada under North America; UK, Germany, Russia, Germany and France among others under Europe. Similarly, China, India, Taiwan, South Korea, Australia, Singapore and Japan among others are covered under Asia Pacific. Rest of the World (RoW) includes South & Central America, Middle East and Africa. Further, as per the scope countries across South & Central America, Middle East and Africa would also be studied separately under the scope of the report.
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