Hyperautomation Market is expected to grow at 21.7% CAGR between 2021-2031
According to World Economic Forum founder Klaus Schwab, fourth industrial revolution is knocking the doors of many industries at faster pace. In third industrial revolution, automation techniques have made life easy for the people and production level had increased drastically. With the emergence of Hyperautomation, fourth revolution is becoming a reality, as companies are using AI in integration of RPA to achieve the same.
Hyperautomation market growth is attributed through the increasing demand of artificial intelligence and machine learning with robotic process automation (RPA). Chatbots and biometrics have been deployed by many organizations to make the work easier for the employees too when they are off duty. For example, in BFSI sector if someone has any query over online, chatbots use to handle with the help of the feed given by human intelligence. Increased demand of automation in manufacturing and healthcare facilities are also helping the market to grow at commendable rate.
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By technology, robotic process automation (RPA) dominated the hyperautomation market with a share of more than 33% in 2020. As its acting as a base for the development of hyperautomation, therefore its demand is expected to hold its market share through forecast period. However, machine learning is expected to grow at the fastest rate with a CAGR of 24.8% through forecast period.
BFSI sector is the forerunner in deployment of hyperautomation technologies. Day to day increasing automation in banking and finance sector helps human to interpret big data and give them meaningful insights with the help of hyperautomation integration.
Presence of numerous manufacturing facility supported by different IT process across the industry led China holding the largest market in Asia-Pacific. China market in 2020 was $0.49 billion and is expected to reach $1.29 billion by 2031 at a CAGR of 26.3%. India is the most attractive market and is expected to grow at a CAGR of 29.1% from 2021 to 2031.
In 2021, Cyclone Robotics launched end-to-end hyperautomation product portfolio
Appian has shown a tremendous growth due to more than $800 million investments till date.
UiPath has got investments of more than USD 2 billion in past 5 years, and it is believed that company had shown a growth of 80% percent from past year revenue and had also decreased its liabilities a lot in 2020.
In March 2021, Camunda received $100M for cloud-native software which drives hyperautomation.
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List of Companies Covered:
Allerin Tech Pvt. Ltd.
Automation Anywhere Inc
Mitsubishi Electric Corporation
Tata Consultancy Services Limited
Company profile covers Business Overview, Product & Services Offered, Financial Performance, Recent Developments.
The Global Hyperautomation Market Has Been Segmented Into:
Global hyperautomation market - analysis & forecast, by deployment mode
Global hyperautomation market - analysis & forecast, by components
Global hyperautomation market - analysis & forecast, by technology
Robotic Process Automation (RPA)
Artificial Intelligence (AI)
Machine Learning (ML)
Natural Language Generation (NLG)
Global hyperautomation market - analysis & forecast, by industry vertical
Banking, Financial Services & Insurance (BFSI)
Global hyperautomation market - analysis & forecast, by region
North America hyperautomation market
North America hyperautomation market, By Country
North America hyperautomation market, By Deployment Mode
North America hyperautomation market, By Technology
North America hyperautomation market, By Industry Vertical
Europe hyperautomation market
Europe hyperautomation market, By Country
Rest of Europe (ROE)
Europe hyperautomation market, By Deployment Mode
Europe hyperautomation market, By Technology
Europe hyperautomation market, By Industry Vertical
Asia Pacific hyperautomation market
Asia Pacific HYPERAUTOMATION Market, By Country
Rest of APAC
Asia Pacific hyperautomation market, By Deployment Mode
Asia Pacific hyperautomation market, By Technology
Asia Pacific hyperautomation market, By Industry Vertical
Rest of the World (ROW) hyperautomation market
Rest of the World hyperautomation market, By Region/Country
Rest of the World hyperautomation market, By Deployment Mode
Rest of the World hyperautomation market, By Technology
Rest of the World hyperautomation market, By Industry Vertical
Competitive trends analysis
Top company rankings
Expansions, funding & investments
New product launch
Mergers & acquisitions
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