Hyper Automation Market Size & Share, by Technology (Robotic Process Automation, Artificial Intelligence, Machine Learning), End User (Manufacturing, Automotive, Healthcare) – Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035
Buy Now Report ID: 3960 | Published Date: May 31, 2023
Hyper Automation Market size is estimated to surpass USD 44 billion by the end of 2035, growing at 11% CAGR during the forecast period, i.e., 2023 – 2035. The industry earned USD 20 billion revenue in 2022. 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.
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~11% |
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Base Year Market Size (2022) |
~ USD 20 Billion |
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Forecast Year Market Size (2035) |
~ USD 44 Billion |
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Regional Scope |
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Growth Drivers
Challenges
End User (Manufacturing, Automotive, Healthcare)
The healthcare end-use segment is set to gain largest hyper automation market share by the year 2035, 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 2035. 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 market includes the following segments:
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Technology |
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End User |
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North American Market Statistics
The hyper automation market in the North America is projected to dominate revenue share through 2035. 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 2035. 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.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Abhishek Verma, Hetal Singh
Ans: Increasing adoption of automation technology in the pharmaceutical industry is the major factor driving the market growth.
Ans: The market size of hyper automation is anticipated to attain a CAGR of ~11% over the forecast period, i.e., 2023 – 2035.
Ans: Lack of skilled manpower in the hyper automation is estimated to be the growth hindering factor for the market expansion.
Ans: The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Ans: The major players in the market Microsoft Corporation, IBM Corporation, Rockwell Automation Inc., SAP SE, Wipro Ltd., Allerin tech Pvt. ltd., OneGlobe LLC, Mitsubishi Electric Corp., Infosys Ltd., and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by technology, end user, and by region.
Ans: The healthcare segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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