Press release
Hyper Automation Market Analysis, Key Trends, Growth Opportunities, Challenges And Key Players By 2029
The global Hyper Automation Market was valued at USD 5.82 Billion in 2021 and is expected to reach USD 18.91 Billion by the year 2028, at a CAGR of 21.75%.
Hyper automation is a business-centric, disciplined approach that organizations use to quickly identify, inspect, and automate as many business and IT processes as possible. Hyper automation entails the methodical application of numerous technologies. Through the use of technologies like robotic process automation (RPA), low-code application platforms (LCAP), artificial intelligence (AI), and virtual assistants, hyper-automation enables businesses to swiftly discover and automate as many activities as they can. RPA, LCAP, and AI are examples of tools that are seen as process-independent software that is simpler to implement across many IT and business use in any organization. Software that is process agnostic is most in demand as a key enabler of the ultra-automated trend.
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Market Dynamics:
Driver:
With the use of many technologies, including robotic process automation (RPA), artificial intelligence (AI), and machine learning, hyper-automation offers complete automation of office chores. However, the office Processes, tools, and goals are continually changing, which puts a strain on hyper automation and requires office staff to be highly adaptable and flexible. The most common standard procedures can be automated thanks to business process management (BPM) tools, yet less visible, less common, but incredibly repetitive, boring operations are still carried out by hand. A new approach, one that is more adaptive, intelligent, and powerful while also being less centralized and standardized, is needed to automate these activities.
Opportunities:
The productivity of legal support staff has increased thanks to AI and hyper-automation in legal technology, especially in in-house and contract law firms. The invention, implementation, and maintenance of legal workflows, practices, and data mining that are based on pre-established norms are referred to as legal automation. Software engineering's subfield of automation focuses on the modeling, development, analysis, control, and implementation of legal software systems. The software used to automate the process of bank automation requires advances in both hardware and software technologies.
The Report Will Include A Major Chapter
• Patent Analysis
• Regulatory Framework
• Technology Roadmap
• BCG Matrix
• Heat Map Analysis
• Price Trend Analysis
• Investment Analysis
• Company Profiling and Competitive Positioning
• Industry Value Chain Analysis
• Market Dynamics and Factors
• Porter's Five Forces Analysis
• Pestle Analysis
• SWOT Analysis
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Leading players involved in the Hyper Automation Market
• UiPath
• SolveXia
• Mitsubishi Electric Corporation
• Allerin Tech Pvt. Ltd.
• Wipro Limited
• Catalytic Inc.
• Appian
• Tata Consultancy Services Ltd.
• OneGlobe LLC
• Automation Anywhere Inc
• JK Tech
• Vuram Technologies
• IBM
• Oracle and others major players.
Segmentation of the Hyper Automation Market
This report offers a classification of the market into imminent and niche sectors. Furthermore, this research study calculates the market size and its development drift at global, regional, and country levels from 2023 to 2029. This report contains the market breakdown and its revenue estimation by classifying it on the basis of Enterprise Size, Technology, End Users, and region:
By Enterprise Size
• SMEs
• Large Enterprise
By Technology
• Artificial Intelligence
• Machine Learning
• Robotic Process Automation
• Others
By End Use
• IT & Telecom
• BFSI
• Manufacturing
• Retail
• Automotive
• Others
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Regional Analysis of Hyper Automation Market:
North America is dominating the Hyperutomation Market. The United States is providing a potent technological ecosystem for companies that develops and integrates the Hyperautomation means and increases the productivity opportunity via newly developed software for various business verticals. The United States happens to be one of the largest Hyperautomation markets in the world. Growth in the United States is partly due to the presence of established players such as Automation Anywhere Inc., UiPath, and Appian Corp. Local Catalyst Inc. In addition, the United States is one of the fastest-changing and most competitive markets in the world. The region is also expected to adopt new technologies faster than any other country in the world.
• North America (U.S., Canada, Mexico)
• Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
• Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
• Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
• South America (Brazil, Argentina, Rest of SA)
Recent Key Developments of Hyper Automation Market:
October 2021, Vuram, the Hyperautomation services company that focuses on low-code enterprise automation declared the launch of the upgraded Contract Management System solution at the US edition of the Hyperautomation Expo 2021. Vuram's new Contract Management Solution is loaded with new features to tackle modern contract lifecycle management (CLM) challenges.
May 19, 2021, JK Tech, a global IT solutions company, has partnered with Evolute IQ, a market-leading ultra-automated technology company. Through this strategic alliance, JK Tech will use the e.IQ Low-code / No code Hyperautomation platform to co-develop innovative business solutions for claims, compliance, financial services, healthcare, retail customer journey management, and CPG.
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Introspective Market Research (introspectivemarketresearch.com) is a visionary research consulting firm dedicated to assist our clients grow and have a successful impact on the market. Our team at IMR is ready to assist our clients flourish their business by offering strategies to gain success and monopoly in their respective fields. We are a global market research company, specialized in using big data and advanced analytics to show the bigger picture of the market trends. We help our clients to think differently and build better tomorrow for all of us. We are a technology-driven research company, we analyse extremely large sets of data to discover deeper insights and provide conclusive consulting. We not only provide intelligence solutions, but we help our clients in how they can achieve their goals.
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