Hyper Automation Market Size, Share & Industry Analysis, By Technology Type (Biometrics, Context–aware computing, Natural learning Generation, Chabot, Machine learning, Robotic process automation), By Organizational Size (Small & Medium Enterprise, Large Enterprise), By Industry Vertical (IT & Telecom, BFSI, Manufacturing, Retail, Automotive, Healthcare & Life science) And Regional Forecast, 2024-2032

The hyper automation market deals with applying advanced technologies such as Artificial Intelligence (AI) and Machine Learning (ML) to automate processes and augmented human activity. Hyper automation is based on a variety of tools that can be automated and it also refers to the sophistication of automation. I.e. analysis, design, discovery, measurement, monitoring, automate, and reassessment. In addition, it is assisted by the automation of increasingly complex tasks that rely on the input of human knowledge, providing a fast path for everyone to be involved in business transformation.

The difference between automation and hyper automation is not clear in many ways.  Automation is the completion of repetitive tasks without manual intervention. This usually happens on a small scale and creates a solution designed to the individual task. In contrast, hyper-automation refers to extending automation initiatives with multiple automation tools that enable intelligent automation such as machine learning and robotic process automation.

In recent times, increasing automation trends in the manufacturing and healthcare sectors are gaining momentum around the world. Several manufacturers have implemented hyper automation to reduce Operating Expenditure (OPEX) and improve the overall efficiency of the manufacturing process. Some companies in the manufacturing sector are implementing innovative business practices that maintain cost savings and streamline operations throughout the supply chain more quickly, while managing customer communication, inventory management, purchasing and payment processing, etc.

Impact of COVID-19 on Hyper Automation Market:

The COVID-19 pandemic has served as a catalyst for the development of automation technology by global and Indian companies, especially in the Indian IT industry, which is the field of drones for surveillance and medicine delivery purposes. The unprecedented economic impact of COVID-19 on supply and demand, as well as its impact on geopolitics and globalisation, will shape the future of automation.

• The coronavirus pandemic has the potential to drive improved automated digitization and Artificial Intelligence (AI). In these situations, automation and robotics may reduce reliance on human labour, increase productivity, and reduce the likelihood of future plant outages. In addition, IoT, AI and digitalization will be very important in the future and will determine new ways of working. This opens up the possibility of a super-automated market in the coming years.


• Skilled workers and lack of training are now major challenges in many areas. Organizations aren't fully aware of where automation is needed in their business, but they are blindly accepting that trend, which can lead to disasters. Lack of proper education can hinder market growth, as skilled workforce and proper education play an important role in implementing advanced tools such as artificial intelligence, natural language processing, and machine learning.

Segmentation:

Key Insights:

The report will cover following key insights:

•  Detailed overview of the parent market.


•  The dynamics of the changing market of the industry.  


•  Subdivision of the inbound market.   


•  Current industry trends and developments.


•  Key player and product strategies offered.

Regional Analysis:

• The U.S. happens to be one of the largest markets for hyper automated tech in the world. Growth in the country is partly driven by the presence of established players such as Automation Anywhere Inc., UiPath, and Appian Corp. Local Catalyst Inc. In addition, the U.S. is one of the fastest and most competitive markets in the world. The region is also expected to adopt new technologies faster than any other country in the world.


• Increased penetration of digitalization, coupled with growing demand for improved efficiency and reduced operating costs, is one of the main drivers behind market growth in the Europe region. Companies in this region are adopting hyper automation to build a more resilient supply chain. In addition, the hyper automation market has grown significantly during the forecast period due to the growing demand for automation in various sectors of countries such as Germany, Italy, France and the U.K. in Europe.


• In terms of revenue, the Asia Pacific region, mostly China dominated the hyper automation market in 2019 with a 42.8% share. The market dominance in the Asia Pacific region is due to the ongoing shift from manufacturing facilities to smart factories. With the rise of automation in the region, the adoption of RPA technology is increasing. The APAC region is an important market driving the development of RPA and AI.

Key Players Covered:

UiPath, SolveXia, Appian, Mitsubishi Electric Corporation, Automation Anywhere Inc., Allerin Tech Pvt. Ltd., OneGlobe LLC, Wipro Ltd., Tata Consultancy Services Limited, Catalytic Inc.

Key Industry Developments:

• In May 2020 - UiPath, one of the leading robotic process automation software companies, introduced an end-to-end hyper-automation platform. The Hyper-automated platform can support all phases of the automation lifecycle and deployment options, giving enterprises immediate control over their robots. The platform also supports the end-to-end automation lifecycle, leveraging process detection tools and crowdsourcing to determine what needs to be automated.


• In December 2020 - Appian has announced the release of an integrated platform for Hyper Automation. This release happens to be the latest version of the Lowcode Automation Platform. Key enhancements in this release of the company's platform integrate low-code artificial intelligence, robotic process automation, and process automation.