Dallas, Texas, Oct. 21, 2022 (GLOBE NEWSWIRE) -- Some of the key driving forces behind the global hyper-automation market growth include a number of variables, such as growing digitization, the rising need for industrial process automation, reduced operational costs, and increased efficiency. Hyper Automation's potential for growth on a worldwide scale, however, may be constrained by a lack of skilled workers and a high initial investment cost for the automation system. The global hyper-automation market may also be able to benefit from increased automation penetration, precision, accuracy, and return on investment in a number of industries. Enterprises can make sure that they deliver the return on investment on schedule and with a high degree of accuracy since Hyper Automation provides access to improved analytics data.
Growth in digitalization, higher efficiency, decreased operational costs, and rising demand for automation in the manufacturing process are some of the key reasons propelling the global hyper-automation industry. The market has grown as a result of more businesses, including the pharmaceutical industry, adopting automated production techniques. In the manufacturing sector, machines now perform some tasks that were formerly handled by people.
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Businesses can be proactive and address security risks before they become a problem thanks to automation, which makes discovering vulnerabilities and putting patches in place straightforward. Additionally, intelligent software can learn what constitutes typical use and instantly spot issues like security policy violations. There are several ways that automation may support security and compliance. A recent RedHat poll found that for 47% of businesses, improving security and compliance were the main reasons for using automation solutions. The global hyper-automation market factors include a greater requirement for automation in manufacturing advancements, improved efficiency, higher digitalization, and lower operational costs as the main factors driving the global hyper-automation market. Due to its ability to read data and take previously established actions, AI is increasingly being used in the hyper-automation sector.
The current value of the global hyper-automation market is USD 549.3 million, and by 2029, it is projected to rise at a strong CAGR of 22.79% to reach USD 2,133.9 million.
Hyper-automation Market Scope:
| Metrics | Details |
| Key Players | Automation Anywhere, SolveXia, UiPath, Allerin Tech, One Globe, Appian, and Wipro. Mitsubishi Electric Corporation |
| By Type | Chatbot, Biometrics, Machine Learning, Hyper-automation Analytics, Robotic automation, Others |
| By Application | Manufacturing, BFSI, IT , Healthcare, Others |
| By End-User | SMEs, Large Enterprises |
| By Service outlook | Vendor Service,Governance |
The Robotic Process Automation (RPA) segment dominated the HyperAutomation Market in terms of revenue in 2021 and constituted the largest percentage of the Hyper Automation Market by technology. Robotic software executes repetitive operations as part of RPA. In many applications, RPA is a crucial component that makes Hyper Automation possible. RPA has the advantages of accelerating processes, enabling Hyper Automation, and expediting it for better task execution. RPA can imitate human-like tasks.
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According to a regional perspective, the Asia-Pacific region captured a sizable share of the market and is anticipated to experience a significant growth rate in the coming years. The region has the biggest potential for growth in the field of hyper-automation since the greatest number of industries requires the conversion of their manual processes to automated ones. In addition, rising internet usage and rising construction industry demand are two other factors that are contributing to the expansion of the Asia-Pacific region.
The first integrated AI-driven process discovery system was unveiled by Automation Anywhere in February 2020. It aids in the discovery of company processes that can be computerized.
Table of content:
1. Foreword
2. Research Methodology
3. Market Outlook
4. The Market by Service Outlook, 2019-2029 (USD Billion)
5. The Market by Type, 2019-2029 (USD Billion)
6. The Hyper-automation Market by Application, 2019-2029 (USD Billion)
7. The study of the market by End-Users, 2019-2029 (USD Billion)
8. Special Segments
9. The Hyper-automation Market by Region, 2019-2029 (USD Billion)
10. Competitive Landscape
11. Company Profiles
12. Appendix
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