Vancouver, BC -- (SBWIRE) -- 01/19/2021 -- Growing automation trends are gaining significant momentum worldwide in manufacturing and healthcare sectors and, in turn, are driving the growth of the hyperautomation industry. Several manufacturing companies are introducing hyperautomation to minimize operating expenditure (OPEX) and increase the overall quality of the production process.

Hyperautomation Market Drivers

The global hyperautomation market size was estimated to be USD 492.1 million in 2019 and is projected to reach USD 22.84 billion at a CAGR of 18.2% by the year 2027. The hyperautomation market is experiencing rapid growth due to the use of technologies like, among others, robotic process automation (RPA), artificial intelligence (AI), machine learning (ML), biometrics, and chatbots in various verticals of the industry, including BFSI, retail, manufacturing, automotive, and healthcare. The BFSI industry has a tremendous opportunity for hyperautomation implementation. For e.g., an ICR (Intelligent Character Recognition) solution makes handwritten multi-use KYC forms to e-forms in specific KYC portal fields in the e-KYC procedure, with data being more populated in relevant fields.

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Hyperautomation Market: Regional Outlook

In terms of sales, with a 42.8% share in 2019, the Asia Pacific region, led by China, dominated the hyperautomation industry. The Asia Pacific region's market dominance is due to the rising transformation of manufacturing facilities into smart factories. The increasing acceptance of RPA technology, owing to the region's increase in automation. The APAC area is an important market for driving the production of RPA and AI.

The European region's hyperautomation market is expected to expand at a CAGR of 17.9% during 2020-2027 due to a rise in the region's automotive production.

Key participants include UiPath, SolveXia, Appian, Mitsubishi Electric Corporation, Automation Anywhere Inc., Allerin Tech Pvt. Ltd., OneGlobe LLC, Wipro Limited, Tata Consultancy Services Ltd., and Catalytic Inc., among others.

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Technology Outlook (Revenue, USD Billion; 2017-2027)
- Robotic Process Automation (RPA)
- Artificial Intelligence (AI)
- Machine Learning (ML)
- Biometrics
- Chatbots
- Natural Language Generation (NLG)
- Others

Industry Verticals Outlook (Revenue, USD Billion; 2017-2027)
- BFSI
- Retail
- Manufacturing
- Healthcare
- Others

Regional Scope- North America; Europe; Asia Pacific; Central & South America; MEA

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Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique

Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027

Chapter 3. Key Insights

Chapter 4. Hyperautomation Market Segmentation & Impact Analysis
4.1. Hyperautomation Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Growing automation trend in the manufacturing sector
4.2.2.2. Technological advancements
4.2.2.3. Greater productivity and better collaboration at workplace
4.2.3. Market restraints analysis
4.2.3.1. Cost-prohibitive capital requirement
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter's Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis

Chapter 5. Hyperautomation Market By Technology Insights & Trends, Revenue (USD Million)
5.1. Technology Dynamics & Market Share, 2019 & 2027
5.1.1. Robotic Process Automation (RPA)
5.1.2. Artificial Intelligence (AI)
5.1.3. Machine Learning (ML)
5.1.4. Biometrics
5.1.5. Chatbots
5.1.6. Natural Language Generation (NLG)
5.1.7. Others
Continue…

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