Global Hyper Automation Market Report and Forecast 2024-2032

Global Hyper Automation Market Outlook

The global hyper automation market size reached approximately USD 45.27 billion in 2023. The market is estimated to grow at a CAGR of 16.5% in the forecast period of 2024-2032, reaching a value of around USD 179.80 billion by 2032.

Key Trends in the Market

Hyper automation is an approach that involves the usage of multiple technologies or tools such as artificial intelligence (AI), machine learning, business process management, and robotic process automation (RPA), among others, for the automation of business and IT processes in an organisation.

• The implementation of low-code solutions in hyper automation to enable rapid workflows and enhance the operational efficiency of businesses is one of the crucial hyper automation market trends. Low-code solutions make hyper-automation tools affordable for SMEs and offer large organisations a diverse portfolio of such tools, depending upon the scale of the process.

• The rising trend of process mining in hyper automation to examine a business process thoroughly, determine strategies to enhance its efficiency, and predict its future trends also provides impetus to the hyper automation market growth.

• The market is further being propelled by the commodification of robotic process automation (RPA) and its growing deployment in different sizes of organisations, allowing IT teams to focus on complex tasks and empowering collaboration between business and IT teams to save time and money.

Hyper Automation Market Analysis

Based on component, the market is divided into software, hardware, and services. On the basis of function, the market is classified into finance and accounting, human resource (HR), marketing and sales, operations and supply chain, and information technology (IT). On the basis of technology, the market is segmented into biometrics, computer vision, chatbots, context-aware computing, machine learning, natural language generation (NLG), and robotic process automation.

The hyper automation market segmentation, based on enterprise size, includes large-size enterprises and small and medium-size enterprises (SMEs). On the basis of end use, the market is categorised into automotive, BFSI, healthcare, IT and telecommunication, manufacturing, retail, and transportation and logistics, among others. The major regional markets of hyper automation are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the hyper automation market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Appian Corporation  

• UiPath  

• Wipro Limited  

• IBM Corporation 

• Automation Anywhere, Inc.  

• SolveXia Pty Ltd.  

• OneGlobe LLC  

• Simple Fractal  

• ElectroNeek Robotics Inc.  

• Digital Catalyst LLC  

• Others

Market Share by Enterprise Size

Large enterprises occupy a sizeable portion of the hyper automation market share owing to the early adoption of the latest technologies by these enterprises. These organisations generally have complex operations and can benefit from advanced tools and technology to improve their business agility and efficiency. The data accessibility and collaboration features of hyper automation tools ease data transfer in large organisations and offer seamless interaction between employees. Additionally, hyper automation can automate routine tasks and allow employees to focus on complex business operations.

Market Share by Region

North America accounts for a significant share of the global market due to the rapid digitalisation and adoption of advanced technologies. Several manufacturers in the region are implementing hyper automation to improve their productivity and reduce operational costs. Furthermore, the robust growth of the automotive sector propels the hyper automation market demand as many automakers are using a hyper-automation approach to lower production costs and manufacturing time. Many market players are also investing in technological advancements such as IoT and robotic automation to gain a competitive advantage.

Competitive Landscape

Appian Corporation is a cloud computing and software company, incorporated in 1999 and headquartered in Virginia, the United States. The company aids enterprises in designing, automating, and optimising their business processes.

UiPath, founded in 2005, is a software company that manufactures robotic process automation software. The company, based in New York, the United States, offers automation services to the banking and finance, insurance, healthcare, and manufacturing sectors, among others.

Wipro Limited, established in 1945, is a multinational technology company that has its headquarters in Bengaluru, India. It provides services such as artificial intelligence, business processes, cloud, and cybersecurity, among others.

Other hyper automation market players include IBM Corporation, Automation Anywhere, Inc., SolveXia Pty Ltd., OneGlobe LLC, Simple Fractal, ElectroNeek Robotics Inc., and Digital Catalyst LLC, among others.

Key Highlights of the Report