Hyperautomation Market Size to Reach USD 52.70 Billion in 2032 | Emergen Research

Vancouver, Dec. 11, 2023 (GLOBE NEWSWIRE) -- The global Hyperautomation market is expected to reach USD 52.70 Billion by 2032, 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.

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Growing automation trends in the manufacturing sector are gaining significant traction worldwide, and in turn, are driving the market growth. Several manufacturing firms are implementing hyperautomation for decreasing operational expenditure (OPEX) and improve the overall manufacturing process efficiency. Several firms in the manufacturing sector, to overcome time-consuming processes including customer communication management, inventory management, purchase, and payment processing, as well as maintaining cost reduction and implementing innovative business practices, are switching to hyperautomation to better streamline the operations rapidly across the supply chain.

Scope of Research

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MAJOR COMPANIES and Market Share Analysis

The leading players in the hyperautomation market are equipped with enhanced production facilities and are involved in various R&D activities. A few leading players in the hyperautomation market include:

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

Strategic Development
In February 2020, Yseop, a leading AI and NLG firm, made an announcement about entering into a collaboration with Automation Anywhere Inc., a leading RPA firm. The collaboration is intended to assist joint customers’ interoperability and let enterprises to increase automation efficiency for further business processes.

In October 2019, Automation Anywhere Inc., a leading firm in Robotic Process Automation Technology (RPA), made an announcement about the expansion of the firm’s operations into the Greater China Region (GCR) by opening several offices in the region.

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Some Key Highlights from the Report

• By technology, natural language generation (NLG) is likely to grow at significant rate in the forecast period. NLG assists computers in transforming structured data into text information in a language understandable by humans. NLG platform provides dedicated solutions for end-users such as BFSI, manufacturing, and healthcare, among others, scalable and rapidly deployable at a lower cost of implementation.
• By industry vertical, BFSI, in terms of market size, held the largest hyperautomation market share in 2019. BFSI industry possesses a huge prospective for the application of hyperautomation. A few benefits offered by hyperautomation comprise marketing, sales & distribution, regulatory reporting, bank servicing, payment processing, lending operations, enterprise support, back-office operations, and others.
• The hyperautomation market in North America held the second-largest hyperautomation market share in 2019 and is likely to grow at a rate of 17.6% in the forecast period. The presence of eminent RPA, AI, and ML firms in the region, a well-established IT infrastructure, and major banks, among other end-users, are causative of the growth of the market.

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For the purpose of this report, Emergen Research has segmented into the global Hyperautomation market on the basis of technology, industry verticals, and region:

• Technology Outlook (Revenue, USD Billion; 2019-2032)
  • Robotic Process Automation (RPA)
  • Artificial Intelligence (AI)
  • Machine Learning (ML)
  • Biometrics
  • Chatbots
  • Natural Language Generation (NLG)
  • Others
• Industry Verticals Outlook (Revenue, USD Billion; 2019-2032)
  • BFSI
  • Retail
  • Manufacturing
  • Healthcare
  • Others
• Regional Outlook (Revenue, USD Billion; 2019-2032)
  • North America
    1. U.S.
    2. Canada
  • Europe
    1. Germany
    2. UK
    3. France
    4. BENELUX
    5. Rest of Europe
  • Asia Pacific
    1. China
    2. Japan
    3. South Korea
    4. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • MEA
    1. Saudi Arabia
    2. UAE
    3. Rest of MEA

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