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RPA and Hyperautomation Market Size, Share with Focus on Emerging Technologies, Top Countries Data, Top Key Players Update, and Forecast 2027

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RPA and Hyperautomation Market Size, Share with Focus on Emerging Technologies, Top Countries Data, Top Key Players Update, and Forecast 2027

March 22
06:55 2023
RPA and Hyperautomation Market Size, Share with Focus on Emerging Technologies, Top Countries Data, Top Key Players Update, and Forecast 2027
IBM (US), Microsoft (US), SAP (Germany), Alteryx (US), Appian (US), Juniper Networks (US), NICE (Israel), Zendesk (US), Pegasystems (US), Automation Anywhere (US), UiPath (US), ProcessMaker (US), SolveXia (Australia), PagerDuty (US), Celonis (US), Blue Prism (UK), Laserfiche (US), akaBot (Vietnam), HelpSystems (US), Decisions (US), and G1ANT (England).
RPA and Hyperautomation Market by Component (Solution, Services), Business Function (IT, Operations & Supply Chain, and HR), Deployment Mode (Cloud, On-premises), Vertical (BFSI, IT & Telecom, and Manufacturing) and Region – Global Forecast to 2027

The RPA and Hyperautomation market comprises three broad technologies: digital transformation with advanced techniques and surging demand for AI, ML, advanced analytics technologies for enhanced business operations, and rising demand for automated solutions for business continuity and planning is driving the growth of RPA and Hyperautomation market.

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Hyperautomation is the use of automation technology to streamline every process possible in an organization, enabling repetitive processes to run without manual intervention. Hyperautomation uses Artificial Intelligence (AI), Machine Learning (ML), and Robotic Process Automation (RPA) to transform modern and legacy processes and equipment. This digital transformation can help an organization gain cost and resource efficiencies to thrive in a more competitive landscape.

The services segment to hold a higher CAGR during the forecast period

Based on components, the services segment holds a higher CAGR during the forecast period. RPA and Hyperautomation combine multiple technologies to automate complex end-to-end business processes that involve decision-making and continuous learning. Businesses are leveraging this opportunity by automating small rule-based tasks to complex business processes. To respond to this dynamic trend, organizations need superior automation capabilities. Services form an integral part of the software lifecycle, including deployment, integration, product upgrade, maintenance, training, and consulting. Servers, apps, and managed services are the three types of services into which this segment is divided. Managed services are used for hosting and managing servers, applications, and networks for clients; these services are provided by third-party vendors. Professional services are obtained directly from parent companies.

The SMEs segment is estimated to have a higher CAGR during the forecast period

Based on organization size, the SMEs segment is estimated to have a higher CAGR during the forecast period. The intense competitive market scenario has encouraged SMEs to invest in RPA and Hyperautomation solutions and services, grow their productivity, and reduce costs. These enterprises aggressively opt for RPA due to flexibility, cost-effectiveness, lower technology risks, resource utilization scalability, and improved organizational productivity. The increasing awareness about the advantages of using automation within SMEs can help boost market growth. SMEs have limitations regarding human resources and budget and need to retain their operational expenses. The RPA enables SMEs to overcome the reduced human error and shortage of employees for redundant tasks by supporting automation functions, which is expected to boost the RPA and Hyperautomation market.

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COVID-19 is significantly affecting M&A activities across virtually all industries, particularly pertaining to new expected transactions. Industries such as media and entertainment, transportation and logistics, manufacturing, and retail have been affected the most. The COVID-19 may cause buyers and sellers to reconsider valuations, adjust pricing mechanisms, and implement new interim operations and crisis response management methods. This situation is very delicate as investors withdraw their interest from ongoing deals. The RPA and hyperautomation market has witnessed a growth dip in 2020. Still, it started to pick up gradually from 2021 onwards, owing to the growing awareness about how advanced analytics solutions can come to the rescue in the post-pandemic scenario. The global  RPA and Hyperautomation market size is to grow from USD 9.2 billion in 2022 to USD 26.0 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 23.1% during the forecast period.

The RPA and Hyperautomation market is expected to witness a slowdown in 2020 due to the global lockdown, impacting global manufacturing, supply chains, and logistics. The manufacturing, transportation, logistics, and retail and consumer goods sectors have been most severely affected. The availability of essential items has also been impacted due to the lack of manpower to work on production lines, supply chains, and transportation, even though essential items are exempted from the lockdown. The situation is expected to come under control by early 2021. With COVID-19 spreading worldwide, global organizations with people who frequently travel internationally can leverage the use of mobile devices for important communications. Organizations can help keep those abroad up to date on potential risks by leveraging RPA and Hyperautomation solutions to streamline business processes and automate manual processes.

Some of the major vendors in the RPA and Hyperautomation market IBM (US), Microsoft (US), SAP (Germany), Alteryx (US), Appian (US), Juniper Networks (US), NICE (Israel), Zendesk (US), Pegasystems (US), Automation Anywhere (US), UiPath (US), ProcessMaker (US), SolveXia (Australia), PagerDuty (US), Celonis (US), Blue Prism (UK), Laserfiche (US), akaBot (Vietnam), HelpSystems (US), Decisions (US), Datamatics (US), Quale Infotech (India), Laiye (China), Rocketbot (Chile), ElectroNeek (US), Automate.io (US), AutomationEdge (US), Techforce.ai (US), Turbotic (Sweden), Simple Fractal (US), and G1ANT (England)

IBM (US) is a multinational technology and consulting corporation offering infrastructure hosting and consulting services. IBM Cloud has emerged as a preferable platform for all business applications, as it is AI compatible. It is a unifying platform that integrates IBM’s capabilities with a single architecture and spans public and private platforms. Together with this powerful cloud platform, the company can cater to the requirements of different businesses worldwide. IBM caters to various verticals, including aerospace & defense, education, healthcare, oil & gas, automotive, electronics, insurance, retail & consumer products, banking & finance, energy & utility, life sciences, telecommunication, media & entertainment, chemical, government, manufacturing, travel & transportation, construction, and metals & mining. The company has a strong presence in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. IBM is one of the major players in the RPA and Hyperautomation market.

SAP (Germany) is one of the leading provider of enterprise application software. The company’s business areas include cloud and software and services. It specializes in analytics and BI services and has expertise in various technologies, including analytics, application platform and infrastructure, data management, IT management, and security software. SAP operates through segments, such as applications, technology and support, Concur, Qualtrics, and services. It caters to various verticals: energy and natural resources, financial services, consumer industries, discrete industries, service industries, and public services. The company is present across the Americas, Europe, Middle East & Africa, and Asia Pacific and employs 102,430 employees worldwide. In the RPA and Hyperautomation market, the company offers solutions and services, which include process automation, augmented analytics, NLP, and AI-powered data discovery, analysis, visualization, and prediction capabilities.

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