The hyper automation market is expected to increase steadily between 2021 and 2031. Hyper automation has the ability to automate office work using a variety of technologies, including artificial intelligence, robotic process automation, and machine learning, among others. Furthermore, using modern technology, hyper-automation aids firms in rapidly identifying and automating as many activities as feasible.
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What is Driving Demand for Hyperautomation?
The hyperautomation market primarily deals with the application and implementation of advanced technologies, including artificial intelligence, robotic process automation, and machine learning in order to automate processes and augment human activity.
The rise in the demand for automation in the manufacturing sector happens to be one of the major factors driving the growth of the hyper-automation market. Furthermore, growing demand for reduction in operational costs coupled with improved efficiency is other key factors fueling the market growth.
However, lack of skilled manpower and lack of training happen to be major factors responsible for restraining the market growth. Skilled personnel and proper training play a vital role in the implementation of advanced technologies such as RPA, AI, and natural language processing. Hence, lack of these happens to be a major factor causing hindrance in the market growth.
US and Canada Hyperautomation Demand Outlook
The U.S. happens to be one of the largest markets for hyper-automation across the globe. The growth in the U.S. is attributed to the presence of established players such as Automation anywhere Inc., UiPath, Appian Corp., and Catalytic Inc., among others in the region.
Moreover, US happens to be the one of the most rapidly changing and competitive markets across the globe. Besides, the region is also anticipated to adopt new technologies at a faster pace as compared to other countries in the world.
Europe Demand Outlook for Hyperautomation
Increasing penetration of digitalization coupled with growing demand for improved efficiency and reduced operational costs happens to be one of the major factors fueling the market growth in the Europe region. Companies in the region are adopting hyperautomation in order to build a more resilient supply chain.
Furthermore, the rising demand for automation across different sectors in the countries like Germany, Italy, France, and UK in the Europe region has enabled the market for hyperautomation to grow at a substantial rate over the forecast period.
Who are the Key Manufacturers and Suppliers of Hyperautomation?
Some of the leading providers of hyperautomation include
- Tata consultancy services Ltd.
- Automation anywhere Inc.
- Wipro Ltd.
- Allerin tech Pvt. ltd.
- OneGlobe LLC
- Mitsubishi Electric Corp.
- Infosys Ltd.
- Catalytic Inc.
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Hyperautomation Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
Key Segments
By Technology:
- Robotic Process Automation (RPA)
- Machine Learning (ML)
- Chatbots
- Biometrics
- Natural Language Generation
- Others
By Organization Size:
- SMEs
- Large Enterprises
By Application:
- IT & Telecom
- BFSI
- Manufacturing
- Retail
- Automotive
- Healthcare & Life science
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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