Hyperautomation Market Size, Historical Growth, Analysis, Opportunities and Forecast To 2027
Market Size – USD 492.1 Million in 2019, Market Growth – CAGR of 18.2%, Market Trends –Growing automation trend in the manufacturing sector
The global Hyperautomation market is expected to reach USD 22.84 Billion by 2027, according to a new report by Emergen Research. The hyperautomation market is experiencing a rapid growth attributable to the use of technologies comprising robotic process automation (RPA), artificial learning (AI), machine learning (ML), biometrics, and Chatbots, among others, in various industry verticals including BFSI, retail, manufacturing, automotive, and healthcare, among others.
Hyperautomation delivers various advantages as compared to other automation types comprising rapid automation of processes, improved workforce motivation, and satisfaction, assignment of employees to other critical tasks, implementation of advanced analytics, enhancement in insights’ precision, risk reduction, better compliance, increased productivity, and improved collaboration at workplace.
Key participants include UiPath, SolveXia, Appian, Mitsubishi Electric Corporation, Automation Anywhere Inc., Allerin Tech Pvt. Ltd., OneGlobe LLC, Wipro Limited, Tata Consultancy Services Ltd., and Catalytic Inc., among others.
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Regional Scope: North America; Europe; Asia Pacific; Central & South America; MEA
Technology Outlook (Revenue, USD Billion; 2017-2027)
- Robotic Process Automation (RPA)
- Artificial Intelligence (AI)
- Machine Learning (ML)
- Biometrics
- Chatbots
- Natural Language Generation (NLG)
- Others
Industry Verticals Outlook (Revenue, USD Billion; 2017-2027)
- BFSI
- Retail
- Manufacturing
- Healthcare
- Others
North America accounted for the largest market share of approximately, 37.2% in the global Hyperautomation market in 2019 primarily due to growing incidences of chronic asthma and rhinosinusitis symptoms along with competent infrastructure and favorable reimbursement scenarios. Owing to such promising market drivers, the North American market is anticipated to grow significantly through the forecast period.
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