Hyperautomation Market Growth Outlook Through 2024-2033

Overview and Scope
Hyperautomation refers to a framework and collection of cutting-edge technologies for growing automation in the organization. This approach enables organizations to achieve higher efficiency, reduce errors, enhance agility, and ultimately drive digital transformation.

Sizing and Forecast
The hyperautomation market size has grown rapidly in recent years. It will grow from $47.36 billion in 2023 to $55.79 billion in 2024 at a compound annual growth rate (CAGR) of 17.8%. The growth in the historic period can be attributed to increased digital transformation initiatives, integration of internet of things (iot), expansion of cloud computing, increased complexity of business processes, demand for scalability and flexibility.

The hyperautomation market size is expected to see rapid growth in the next few years. It will grow to $105.34 billion in 2028 at a compound annual growth rate (CAGR) of 17.2%. The growth in the forecast period can be attributed to growing demand for efficiency and cost reduction, continued advancements in ai and ml, increasing emphasis on cybersecurity automation, rapid growth of edge computing, expansion of hyperautomation in small and medium enterprises (smes). Major trends in the forecast period include human augmentation and collaboration, explainable ai and ethical considerations, autonomous processes and intelligent workflows, expansion of hyperautomation in edge devices, technological advancements.

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Segmentation & Regional Insights
The hyperautomation market covered in this report is segmented –

1) By Component : Hardware, Software, Services
2) By Technology : Robotic Process Automation, Machine Learning, Biometrics, Chatbots, Context Aware Computing, Natural Language Generation, Computer Vision
3) By Deployment: On-Premise, Cloud
4) By Function: Marketing And Sales, Finance And Accounting, Human Resources, Operations And Supply Chain, Information Technology, , , , ,
5) By End Use: Manufacturing, Automotive, Banking, Financial Services And Insurance (BFSI), Healthcare, IT And Telecommunication, Retail, Transportation And Logistics, Other End Users

North America was the largest region in the hyperautomation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hyperautomation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The increasing implementation of automation is expected to propel the growth of the hyperautomation market going forward. Automation is the creation and application of technologies to produce and deliver goods and services with minimal human intervention. Automation uses hyperautomation to leverage advanced technologies like artificial intelligence, machine learning, and robotic process automation synergistically, enabling organizations to streamline complex workflows, improve efficiency, and achieve digital transformation by automating routine tasks and intricate, knowledge-based processes. For instance, in May 2021, according to Automation Anywhere, a US-based software company, more than 90% of hospitals and medical facilities shifted from using paper medical records to EHRs to create, access, store, and share patient information. Further, in January 2024, according to Kissflow Inc., a US-based software company, The number of automated jobs is growing at 14% per year, and by 2024, 69% of managerial work will be automated. Therefore, the increasing implementation of automation is driving the growth of the hyperautomation market.

Key Industry Players
Major companies operating in the hyperautomation market report are Amazon.com Inc., Alphabet Inc., Microsoft Corporation, Intel Corporation , International Business Machines Corporation, Deloitte Touche Tohmatsu Limited, Ernst & Young Global Limited, Oracle Corporation, Mitsubishi Electric Corporation, SAP SE, Tata Consultancy Services Limited, Infosys Limited, Baidu Inc., Wipro Ltd., Genpact Limited, SAS Institute Inc., Nutanix Inc. , Cyient Ltd., Automation Anywhere Inc., Cloudera Inc., BlackSwan Technologies Inc., Gorilla Technology Group, OneGlobe LLC, Tact.ai Technologies Inc., ClearBlade Inc., Gigaforce Inc., SolveXia Pty Ltd.

The hyperautomation market report table of contents includes:

1. Executive Summary
2. Hyperautomation Market Characteristics
3. Hyperautomation Market Trends And Strategies
4. Hyperautomation Market – Macro Economic Scenario
5. Global Hyperautomation Market Size and Growth
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32. Global Hyperautomation Market Competitive Benchmarking
33. Global Hyperautomation Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Hyperautomation Market
35. Hyperautomation Market Future Outlook and Potential Analysis
36. Appendix

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