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Hyperautomation Market Analysis 2024 - By Type, By Offering And End-Users
Hyperautomation Market
As per the report, the hyperautomation market size has grown rapidly in recent years. It will grow from $47.36 billion in 2023 to $55.79 billion in 2024 at a compound annual growth rate (CAGR) of 17.8%. The hyperautomation market size is expected to see rapid growth in the next few years. It will grow to $105.34 billion in 2028 at a compound annual growth rate (CAGR) of 17.2%.
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Surge In Automation Adoption Fuels Hyperautomation Market Growth
The increasing implementation of automation is expected to propel the growth of the hyperautomation market going forward. Automation is the creation and application of technologies to produce and deliver goods and services with minimal human intervention. Automation uses hyperautomation to leverage advanced technologies like artificial intelligence, machine learning, and robotic process automation synergistically, enabling organizations to streamline complex workflows, improve efficiency, and achieve digital transformation by automating routine tasks and intricate, knowledge-based processes. For instance, in May 2021, according to Automation Anywhere, a US-based software company, more than 90% of hospitals and medical facilities shifted from using paper medical records to EHRs to create, access, store, and share patient information. Further, in January 2024, according to Kissflow Inc., a US-based software company, The number of automated jobs is growing at 14% per year, and by 2024, 69% of managerial work will be automated. Therefore, the increasing implementation of automation is driving the growth of the hyperautomation market.
Technological Advancements In Hyperautomation Market With A Revolutionary Connector Builder
Major companies operating in the hyperautomation market are developing innovative technology, such as unified iPaaS solution, to allow low-code developers to develop reusable connectors quickly and easily on demand. A Unified Integration Platform as a Service (iPaaS) solution refers to a comprehensive and centralized cloud-based platform that facilitates the integration of various applications, data sources, and systems within an organization. For instance, in June 2022, Tray.io, a US-based integration platform company, launched Tray Universal Automation Cloud to accelerate enterprise hyperautomation. It boasts hundreds of pre-built connectors and can connect to any app, database, or API. Tray UAC leverages AI to suggest automation opportunities and optimize workflows.
The hyperautomation market covered in this report is segmented -
1) By Component : Hardware, Software, Services
2) By Technology : Robotic Process Automation, Machine Learning, Biometrics, Chatbots, Context Aware Computing, Natural Language Generation, Computer Vision
3) By Deployment: On-Premise, Cloud
4) By Function: Marketing And Sales, Finance And Accounting, Human Resources, Operations And Supply Chain, Information Technology, , , , ,
5) By End Use: Manufacturing, Automotive, Banking, Financial Services And Insurance (BFSI), Healthcare, IT And Telecommunication, Retail, Transportation And Logistics, Other End Users
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Major companies operating in the hyperautomation market report are Amazon.com Inc., Alphabet Inc., Microsoft Corporation, Intel Corporation , International Business Machines Corporation, Deloitte Touche Tohmatsu Limited, Ernst & Young Global Limited, Oracle Corporation, Mitsubishi Electric Corporation, SAP SE, Tata Consultancy Services Limited, Infosys Limited, Baidu Inc., Wipro Ltd., Genpact Limited, SAS Institute Inc., Nutanix Inc. , Cyient Ltd., Automation Anywhere Inc., Cloudera Inc., BlackSwan Technologies Inc., Gorilla Technology Group, OneGlobe LLC, Tact.ai Technologies Inc., ClearBlade Inc., Gigaforce Inc., SolveXia Pty Ltd.
Contents of the report:
1. Executive Summary
2. Hyperautomation Market Report Structure
3. Hyperautomation Market Trends And Strategies
4. Hyperautomation Market - Macro Economic Scenario
5. Hyperautomation Market Size And Growth
…..
27. Hyperautomation Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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