Global Hyperautomation Report 2023
The global hyperautomation market was estimated to be worth $71.8 billion in 2020 and is expected to reach a value of $220.5 billion by the end of 2023, representing a compound annual growth rate of 27%. This rapid growth can be attributed to the rising demand for automation solutions that help improve operational efficiency, as well as the increasing adoption of cloud-based technologies such as artificial intelligence (AI), robotic process automation (RPA) and machine learning.
The global hyperautomation market is segmented into services, software, hardware, and professional services. Of these segments, services account for the largest share of the global market, due to increasing demand for managed service providers that provide end-to-end hyperautomation solutions.
The enterprise segment is expected to be the largest end-user of global hyperautomation, accounting for a market share of 43.2% in 2023. This can be attributed to factors such as increasing adoption of AI, big data, and RPA by enterprises to reduce operational costs and improve productivity. The banking, financial services and insurance (BFSI) segment is expected to be the second largest end-user of hyperautomation solutions, with a market share of 28.3%.
In terms of geography, North America held the largest market share in 2020, due to the presence of leading players such as IBM Corporation and Salesforce.com Inc., as well as the increasing adoption of cloud and hyperautomation solutions in the region. Asia-Pacific is expected to be the fastest growing region, with a compound annual growth rate (CAGR) of 28.4%. The growth in this region can be attributed to factors such as increasing government initiatives to promote digital transformation of industries, as well as the presence of large-scale enterprises.
The global hyperautomation market is expected to witness strong growth in the forecast period, driven by factors such as increasing demand for automation solutions that help improve operational efficiency and cost reduction, rising adoption of cloud-based technologies such as AI, RPA and machine learning, as well as increasing investments in digital transformation of industries. The report provides an in-depth analysis of the global hyperautomation market, including its current state and future prospects for the period 2023-2027. It also covers key trends, drivers, opportunities, and challenges impacting the market. In addition, it offers insights into the competitive landscape and profiles some of the leading players in the market.
Key report metrics
|Years in review||2020-2027|
|Regions covered||APAC, Europe, Africa, North America, Latin America, Middle East|
The global hyperautomation report was compiled using primary and secondary research. Primary research included interviews with industry experts and key stakeholders, while secondary research involved a comprehensive review of relevant publications such as whitepapers, reports, news articles, press releases, and company websites. In addition, market sizing was estimated using top-down and bottom-up approaches.
The report will provide detailed insights into:
• Market Overview
• Market Drivers and Restraints
• Market Segmentation
• Regional Analysis
• Competitive Landscape
• Key Players
The report is a must read for:
• Automation Service Providers
• Software Developers & Vendors
• Government Agencies & Regulators
• Technology Consultants and Analysts
|3||Market Drivers and Restraints|