HYPER AUTOMATION MARKET ANALYSIS | COHERENT MARKET INSIGHTS

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HYPER AUTOMATION MARKET ANALYSIS

• Hyper Automation Market, by Technology (Robotic
  Process Automation (RPA), Machine Learning (ML),
  Chatbots, Biometrics, Natural Language
  Generation, and Context-aware Computing), by
  End-use Industry (Manufacturing, Automotive,
  Healthcare, BFSI, Retail, and Others), and by
  Region (North America, Europe, Asia Pacific,
  Latin America, Middle East, and Africa) - Size,
  Share, Outlook, and Opportunity Analysis, 2019 -
  2027

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Hyper Automation Market Insights

• Global Hyper Automation Market is expected to
  witness a significant growth during the forecast
  period (20192027). The market growth is majorly
  attributed to increasing adoption of automated
  manufacturing processes by various industries
  such as pharmaceutical. In manufacturing Industry
  some jobs that were done by humans previously,
  are now performed by the machines. For instance,
  in May 2019, Thermax Limited, a provider of
  energy solutions, automated its chemical mixing
  process in Dahej, Gujarat plant. The company
  removed workers from chemical mixing process and
  created algorithm for each recipe. The machine
  operator feeds recipe to into a system and
  machines follows the instructions according to
  the preset algorithm. Furthermore, Thermax
  Limited started a new highly automated facility
  in the Sri City, Andhra Pradesh in 2019. Due to
  the hyper automation solutions, company is
  managed to reduce the production cycle from 4o
  days to 15 days.
• Moreover, in order to adopt the hyper automation
  solutions, all the systems present in the end to
  end process should be integrated. There are many
  challenges associated with the integration of
  system such as selecting the right tools,
  monolithic systems maintenance of the system.
  Hence, integration of the system is major
  restraining factor for growth of the hyper
  automation market over the forecast period.

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Market Drivers

• Increasing Demand for Hyper Automation Solutions
  in Emerging Economies of Asia Pacific, Owing to
  Transformation of Traditional Manufacturing
  Plants into Fully Automated Smart Factories is
  expected to drive the Market Positively in the
  Asia Pacific Region.
• Asia Pacific held a dominant position in the
  global hyper automation market in 2018, and is
  estimated to retain its dominance over the
  forecast period. This is attributed to rapid
  conversion of traditional manufacturing plants
  into automated plants. For instance, in November
  2018, Rane Madras limited, a manufacturer of car
  parts, adopted automated solutions for its new
  plant in Gujarat of Mitsubishi Electric
  Corporation. Due to implementation of solutions
  there is significant decrease in energy
  consumption of plant. Moreover, various hyper
  automated solutions providers in India include
  Wipro limited, Infosys Limited, and Tata
  Consultancy Services Limited. These factors are
  expected to drive growth of the hyper automation
  market over the forecast period in the Asia
  Pacific region.

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• Surge in demand for robotic process automation
  technology across the globe is expected to drive
  growth of the global hyper automation market.
• Among technology type, robotic process
  automation segment accounted for 31.2 of the
  market share in 2018. Moreover, machine learning
  is expected to be the fastest growing segment
  exhibiting the highest CAGR of around 44.3
  during the forecast period.
• Various companies are adopting the hyper
  automation solutions. For instance, in March
  2018, HCX Technology Partners, Inc adopted the
  robotic process automation solutions of the
  Automation Anywhere, Inc. HCX Technology
  Partners, Inc is the technology solution provider
  based in Philippines. It offers online HR-Payroll
  platforms to various companies.

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Key Players

• Major players operating in the global hyper
  automation market include Automation Anywhere,
  Inc., SolveXia, Wipro Limited, UiPath, ALLERIN
  TECH PVT LTD, Appian,  OneGlobe LLC., Mitsubishi
  Electric Corporation, Catalytic Inc, Infosys
  Limited, and Tata Consultancy Services Limited.

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  market-insight/hyper-automation-market-3754

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