Global Hyperautomation Market Size Envisaged to Grow USD 167.02 Billion By 2032, at 16.4% CAGR: Polaris Market Research

NEW YORK, April 6, 2023 /PRNewswire/ -- A latest research report [115+] pages with 360-Degree visibility, titled "Hyperautomation Market Share, Size, Trends, Industry Analysis Report, By Technology (Robotic Process Automation (RPA), Machine Learning (ML), Biometrics, Chatbots); By End Use; By Function; By Region; Segment Forecast, 2023 - 2032" published by Polaris Market Research in its research repository.

"According to research report, the global hyperautomation market size/share was valued at USD 36.50 Billion in 2022 and is expected to reach USD 167.02 Billion By 2032, growing at a CAGR of 16.4% during the forecast period."

How Big is Hyperautomation Market Size & Share?

• Overview

Hyperautomation comprises growing the automation of business procedures, mainly workflow, production chain, marketing procedures, and so on, by inaugurating artificial intelligence, machine learning, and robotic process automation. The rapidly rising demand for the hyperautomation market can be attributed to it being a prominent element in digital transformation as it discards human inclusion in low-value procedures and offers data that provides a degree of business intelligence that was not accessible before.

The market is proliferating because of the digitization of automated manufacturing procedures amidst several industries. The speedy growth of digital transformation with ultra-modern approaches in hyperautomation is also pushing market growth. Further, an amplification demand due to the rise in digitalization covering many industries can be enterprising for market growth.

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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, Table of Contents, Graphical introduction of regional analysis, Top players in the market with their revenue analysis and our research methodology.)

Our Sample Report May Includes:

• 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
• 115+ Pages Research Report (Inclusion of Updated Research).
• Provide Chapter-wise guidance on Request.
• 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends.
• Includes Updated List of table & figures.
• Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.

Key data covered in the market report

• The report offers an analysis of changing competitive scenarios.
• For making informed decisions in businesses, it provides analytical data with strategic planning methodologies.
• It helps in understanding major key products segment.
• Researchers shed light on the dynamics of the market, such as drivers, restraints, trends, and opportunities.
• It offers a regional analysis of the market along with business profiles of several stakeholders.

Some of the Top Market Players Are:

• UiPath
• Appian
• Automation Anywhere
• Zendex
• Alteryx
• Tata Consultancy Services
• OneGlobe
• SolveXia
• Allerin Tech
• PagerDuty
• Honeywell International
• Microsoft
• Juniper Network

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Key factors driving market growth

• Increasing demand for utilizing low-code manifestos to push the market

Increasing demand for swift application advancement utilizing low-code manifestos is augmenting the development of the market. Low code solutions assist in streamlining, automation, and expedition of app advancement processes, which ultimately end in notable cost retrenchment and fulfillment enhancement. The hyperautomation market size is expanding due to the integration of artificial intelligence and machine learning to guarantee firms observe and simplify crucial business procedures, further pushing the market growth.

Growing acceptance of SaaS and alternative platform-dependent services behave as a prominent driver magnifying the market growth. Hyperautomation market sales are soaring due to the disposition of the SaaS model due to enhanced production of self-prepared hyperautomation solutions. This, in succession, offers a gateway to structures and assists in expanding advancement procedures.

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Recent trends influencing the market

Escalation in digitalization globally to drive the market

• The prime reason propelling the growth of the market is the escalation in digitalization globally. A digital process automation solution is most often utilized in organizations that require productive back-end processing management because of the growing demand for business automation. Therefore, more undertakings are being initiated, including BFSI businesses, industrial manufacturing, and online retailers.
• Implementation of RPAs and AI has sanctioned the growth of security caliber at the national and regional magnitude. Firms use hyper-automation to pick out safety oversight and ward off disastrous adversities. Several industrialized nations' defense industries are now traversing hyperautomation to streamline security agreements and processes.

Segmentation assessment

• The robotic process automation segment is expected to witness the fastest growth

Based on technology, the robotic process automation segment is expected to witness the fastest growth. Hyperautomation market demand is on the rise due to the growing need of firms to stockpile an expansive magnitude of everyday data, so ultra-modern business tools such as data analytics and big data. While RPA is accommodating to comprehend that having one bot constantly conduct similar tasks without the probability for the disparity is inadequate.

• The marketing and sales segment accounted for the largest market share

Based on function, the marketing and sales segment accounted for the largest market share. Hyperautomation market trends include the usage of data collection from LinkedIn, automatic copy/paste of a template email posting into a contemporary email, and repetitive use of the template for follow-up emails, also rendering call or email up to customers ignoring the emails and calls.

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Hyperautomation Market: Report Coverage & Scope

Geographic Overview

• Experienced digital transformation to propel the North American market

North America held the largest hyperautomation market share due to firms in this region have already experienced digital transformation because of business needs that are amidst the premiere to take on contemporary technologies. Because of the acceptance of novel technologies, firms have initiated massive proportions of data, generating commending occasions for using RPA and hyperautomation software to protect and handle such data.

Asia Pacific region is anticipated to be swiftly growing globally in the forecast period. The function of changing traditional industrial solutions into fully mechanized smart factories is the reason for the growth in this region. Because of the steps utilized, the plant's energy usage has been considerably reduced.

Browse the Detail Report "Hyperautomation Market Share, Size, Trends, Industry Analysis Report, By Technology (Robotic Process Automation (RPA), Machine Learning (ML), Biometrics, Chatbots); By End Use; By Function; By Region; Segment Forecast, 2023 - 2032" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/hyperautomation-market            

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Recent developments

• In December 2022, Ashling Partners appropriated fourTENS to augment the firm's proficiency in low code technologies and requisitions and to inflate their endeavors in the intelligent automation sector globally.

Polaris Market Research has segmented the hyperautomation market report based on technology, function, end use, and region:

By Technology Outlook

• Robotic Process Automation
• Machine Learning (ML)
• Biometrics
• chatbots
• Context AwareComputing
• Natural Language Generation (NGL)

By Function Outlook

• Marketing & Sales
• Finance & Accounting
• Human Resources
• Operations & Supply Chain
• Information Technology

By End Use Outlook

• Manufacturing
• Automotive
• BFSI
• Healthcare
• IT & Telecommunication
• Retail
• Transportation & Logistics
• Others

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.

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SOURCE Polaris Market Research