Dublin, Dec. 02, 2024 (GLOBE NEWSWIRE) -- The "Hyper Automation Market Forecast 2024-2032" report has been added to ResearchAndMarkets.com's offering. The market is analyzed by component, function, technology, enterprise size, end-use, and region.
According to this report, the hyper automation market reached a value of USD 45.27 billion in 2023. Aided by the increasing demand for advanced automation solutions and the growing applications of hyper automation in various sectors, the market is projected to further grow at a CAGR of 16.5% between 2024 and 2032 to reach a value of USD 179.80 billion by 2032.
This report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in hyper automation market. Some of the major players explored in the report are as follows:
- Appian Corporation
- UiPath
- Wipro Limited
- IBM Corporation
- Automation Anywhere, Inc.
- SolveXia Pty. Ltd.
- OneGlobe LLC
- Simple Fractal
- ElectroNeek Robotics Inc.
- Digital Catalyst LLC
Market Insights
The increasing demand for advanced automation solutions is driving the hyper automation market growth. With the rising need for businesses to improve operational efficiency and reduce costs, there has been a significant shift towards the adoption of hyper automation technologies. Additionally, the growing complexity of business processes and the need for real-time data analysis have further contributed to the increasing popularity of hyper automation solutions.
The expanding applications of hyper automation in various sectors also play a significant role in propelling the hyper automation market development. In the manufacturing sector, hyper automation is used to streamline production processes, reduce downtime, and improve product quality. The healthcare industry utilises hyper automation for tasks such as patient data management, diagnostics, and administrative processes. Moreover, the financial services sector benefits from hyper automation in areas such as fraud detection, customer service, and regulatory compliance.
Further, the growing focus on digital transformation and the adoption of cloud-based technologies have led to an increased demand for hyper automation solutions. As businesses increasingly shift towards digital operations, the need for scalable and flexible automation solutions has become more pronounced. This trend is expected to boost the hyper automation market expansion in the coming years.
As per the hyper automation market analysis, North America is a significant market for hyper automation, driven by the high adoption of advanced automation technologies and the presence of leading technology providers. The region's focus on digital transformation and innovation is also supporting market growth.
The Asia-Pacific region is expected to witness significant growth in the market, owing to the rapid digital transformation, increasing adoption of automation technologies, and rising investments in AI and ML. Countries such as China, India, and Japan are major contributors to the market growth in this region.
The Middle East and Africa region is experiencing growing demand for hyper automation solutions, particularly in the manufacturing, healthcare, and financial services sectors. The region's emphasis on digital transformation and innovation is boosting the adoption of hyper automation technologies, consequently driving up the hyper automation market share.
Market Segmentation
- Market Breakup by Component
- Software
- Hardware
- Services
- Market Breakup by Function
- Finance and Accounting
- Human Resource (HR)
- Marketing and Sales
- Operations and Supply Chain
- Information Technology (IT)
- Market Breakup by Technology
- Biometrics
- Computer Vision
- Chatbots
- Context-Aware Computing
- Machine Learning
- Natural Language Generation (NLG)
- Robotic Process Automation
- Market Breakup by Enterprise Size
- Large-Size Enterprises
- Small and Medium-size Enterprises (SMEs)
- Market Breakup by End-use
- Automotive
- BFSI
- Healthcare
- IT and Telecommunication
- Manufacturing
- Retail
- Transport
- Market Breakup by Region
- North America
- Europe
- Middle East and Africa
- Asia Pacific
- Latin America
Key Attributes
| Report Attribute | Details |
| No. of Pages | 167 |
| Forecast Period | 2024-2032 |
| Estimated Market Value (USD) in 2024 | $52.99 Billion |
| Forecasted Market Value (USD) by 2032 | $179.8 Billion |
| Compound Annual Growth Rate | 16.5% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/e6prov
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