The global hyper-automation market size is anticipated to reach USD 118.66 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 16.5% from 2022 to 2030. The industry focuses on the application and implementation of advanced technologies, such as robotic process automation, artificial intelligence, and machine learning, to automate processes and augment human activity. The expansion of social networking, cloud computing, mobile computing, and analytics is anticipated to have a positive effect on the demand for hyper-automation.
Several factors, such as rapid digitalization, increased demand for automation in manufacturing processes, lower operational costs, and improved efficiency, support the industry's growth. The Robotic Process Automation (RPA) technology segment held the maximum revenue share in 2021 owing to the rise of complex business tools like data analytics. Businesses can provide intelligent automation in consumer onboarding by utilizing OCR and RPA. Even in firms that rely on legacy systems, most onboarding processes, such as service agreement generation, can be completed instantly, thereby improving customer experience.
IT & telecommunication was the largest end-use segment in 2021. IT has become a significant resource for managing the ever-increasing demand for advanced IT while maintaining adequate IT expenditures as it has become a more basic component of the telecom business. Automation provides consistent and predictable methods for handling configuration settings to improve consistency, and speed control, and increase uptime by lowering the risk of human error in common daily tasks. North America was the dominant regional market in 2021 due to the demand for big data analytics & cloud computing and the strong presence of various leading industry players in the region.
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The large enterprise segment accounted for the major revenue share in 2021 owing to the increasing integration of complex business technologies, such as data analytics and big data, on account of the growing requirement for storing massive volumes of daily data
The hardware component segment accounted for the major revenue share in 2021. It helps in maintaining the machinery and equipment providing timely deliverables and thereby reducing time and effort
By function, the finance & accounting segment led the industry in 2021. Financial automation reduces the need for personnel to manually batch and balance transactions allowing them to handle each operation more efficiently
The cloud deployment segment dominated the market in 2021 owing to the growth in enterprise adoption of high-end cloud computing in developing economies
However, the on-premise segment is expected to register the fastest growth rate from 2022 to 2030. This is owing to the rapid growth in small- and medium-sized industries
Grand View Research has segmented the global hyper-automation market based on the component, technology, deployment, function, enterprise, end-use, and region:
Hyperautomation Component Outlook (Revenue, USD Million, 2017 - 2030)
Hardware
Software
Services
Hyperautomation Technology Outlook (Revenue, USD Million, 2017 - 2030)
Robotic Process Automation (RPA)
Context Aware Computing
Machine Learning (ML)
Biometrics
Chatbots
Natural Language Generation (NLG)
Computer Vision
Hyperautomation Deployment Outlook (Revenue, USD Million, 2017 - 2030)
On-premise
Cloud
Hyperautomation Function Outlook (Revenue, USD Million, 2017 - 2030)
Marketing & Sales
Finance & Accounting
Human Resources (HR)
Information Technology (IT)
Operations & Supply Chain
Hyperautomation Enterprise Outlook (Revenue, USD Million, 2017 - 2030)
Large-size Enterprises
Small- & Medium-size Enterprises (SMEs)
Hyperautomation End-use Outlook (Revenue, USD Million, 2017 - 2030)
Manufacturing
Automotive
BFSI
Healthcare
IT & Telecommunication
Retail
Transportation & Logistics
Others
Hyperautomation Regional Outlook (Revenue, USD Million, 2017 - 2030)
North America
U.S.
Canada
Europe
U.K.
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Middle East & Africa
List of Key Players of the Hyperautomation Market
UiPath
Wipro
Tata Consultancy Services Ltd.
Mitsubishi Electric Corp.
OneGlobe LLC.
SolveXia
Appian
Automation Anywhere, Inc.
Allerin Tech Pvt. Ltd.
PagerDuty, Inc.
Honeywell International, Inc.
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