Hyper Automation Market size was over USD 39.71 Billion in 2023 and is likely to reach USD 263.78 Billion by the end of 2036, growing at around 16.6% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of hyper automation is assessed at USD 44.9 Billion.The market growth is mainly owing to the advancements in artificial intelligence and machine learning. These technologies enable automation tools to learn and adapt to different scenarios, making them more intelligent and capable of handling complex tasks. According to data, global spending on AI systems reached nearly USD 51 billion in the year 2021.
In addition, the hyper-automation market refers to the adoption and implementation of advanced technologies and tools to automate and optimize business processes across various industries. There has been surging investment in cloud-based technology in order to reduce the data storage space, and cost.
Growth Drivers
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
16.6% |
|
Base Year Market Size (2023) |
USD 39.71 Billion |
|
Forecast Year Market Size (2036) |
USD 263.78 Billion |
|
Regional Scope |
|
End User (Manufacturing, Automotive, Healthcare)
The healthcare end-use segment is set to gain largest hyper automation market share by the year 2036, impelled by the presence of a large number of patients requiring treatment for various conditions in the healthcare sector. The hospitals, where hyper automation is used are also growing rapidly in number.
Technology (Robotic Process Automation, Artificial Intelligence, Machine Learning)
The artificial intelligence (AI) segment is estimated to witness significant growth rate till 2036. The growth of the segment can be accredited to the increasing data availability. The proliferation of digital technologies has resulted in a massive amount of data being generated every day. AI thrives on data, and the availability of large datasets enables AI algorithms to learn and improve their performance.
The growth of data from various sources such as social media, sensors, and IoT devices fuels the demand for AI solutions. The development of high-performance computing infrastructure, including GPUs (Graphics Processing Units) and specialized AI chips, has significantly improved the speed and efficiency of AI algorithms.
Our in-depth analysis of the global market includes the following segments:
|
Technology |
|
|
End User |
|
North American Market Statistics
The hyper automation market in the North America is projected to dominate revenue share through 2036. This domination can be ascribed to technological advancements in the region.
North America is a hub for technological innovation, with many leading technology companies. Continuous advancements in artificial intelligence (AI), machine learning (ML), robotic process automation (RPA), and other automation technologies will drive the growth of the market.
APAC Market Forecast
Asia Pacific market is anticipated to observe lucrative growth opportunities by the end of 2036. The regional growth is owing to the growing tech ecosystem and startups in the region.
The APAC region has a thriving tech ecosystem, with the presence of numerous startups and tech companies focusing on automation and AI. These innovative startups are driving the development and adoption of hyperautomation solutions tailored to the specific needs of the APAC market. According to a report, APAC-based startups received over USD 83 billion in funding in 2021, surpassing the funding received by North American startups.
Author Credits: Abhishek Verma
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?