Global RPA And Hyperautomation market size 2024, Forecast To 2033
4 Mar, 2024
The RPA and hyperautomation market size has experienced rapid growth, surging from$12.24 billion in 2023 to$14.59 billion in 2024 at a compound annual growth rate (CAGR) of 19.2%. The historic growth is attributed to cost efficiency and productivity, business process optimization, the shift to digital transformation, and the focus on workforce enhancement, alongside early adoption in IT operations. The market is expected to witness exponential growth in the next few years, reaching$30.75 billion in 2028 at a compound annual growth rate (CAGR) of 20.5%. Predicted growth in the forecast period is attributed to hyperautomation expansion, post-pandemic transformation, cost efficiency and productivity gains, industry-specific use cases, and cloud-based solutions. Major trends in the forecast period include data security and privacy concerns, focus on scalability and flexibility, proliferation of intelligent automation, skill development and workforce changes, and vendor innovation and competition.
Global RPA And Hyperautomation Market Key Driver
The increase in significance of robotics in various industries contributes to the growth of the RPA and Hyper automation markets. A robot is an automated machine that can carry out specific activities quickly and accurately with little to no human involvement. Hyper automation provides automation for any repetitive action performed by business users by combining robotic process automation with artificial intelligence and increasing the significance of robotics in various industries. For instance, according to a 2021 report published by the International Federation of Robotics (IFR), a non-profit organization that promotes, strengthens, and protects the robotics industry worldwide, a total of 3 million industrial robots are now in use in different industries around the world, which shows a 10% increase compared to 2020. The sales of new robots increased modestly at a 0.5% rate, with 384,000 units sold globally in 2020. Therefore, the increasing significance of robotics in various industries is expected to propel the growth of the RPA and hyper-automation market. In 2023, the market size for RPA and hyper-automation is valued at X, and it is projected to reach Y by 2028.
Get A Free Sample Of The Global RPA And Hyperautomation Market ReportGlobal RPA And Hyperautomation Market Segments
The global rpa and hyperautomation market covered in this report is segmented –
1) By Component: Solution, Services
2) By Deployment Mode: On-Premise, Cloud
3) By Business Function: Sales and Marketing, Finance and Accounting, Human Resources, Supply Chain And Operations, Information Technology (IT)
By Geography: The regions covered in the rpa and hyperautomation market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North America was the largest region in the RPA and hyperautomation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the rpa and hyperautomation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major RPA And Hyperautomation Industry Players
IBM Corporation, Microsoft Corporation, SAP SE, Alteryx Inc., Nice Ltd., Juniper Networks Inc., Pegasystems Inc., Appian Corporation, UiPath Inc., HelpSystems LLC, Zendesk Ltd., Automation Anywhere, ProcessMaker, SolveXia, Blue Prism Group Plc., Celonis, Laserfiche, Tata Consultancy Services, Mitsubishi Electric Corporation, Catalytic Inc, OneGlobe LLC, PagerDuty Inc., Honeywell InternationalInc., NTTData, Accenture, Capgemini, Cognizant, Infosys, Larsen & Toubro Infotech, Tech Mahindra
Get The Full Global RPA And Hyperautomation Market ReportRPA And Hyperautomation Market Overview
RPA and hyper-automation refer to the automation that is used to automate complex business processes that previously required the involvement of subject matter experts or professionals. Robotic process automation (RPA) is the use of robots programmed to automate repetitive, predictable, and routine processes through interactions that are intended to resemble human behavior.
RPA And Hyperautomation Global Market Report 2023 provides data on the global rpa and hyperautomation market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The rpa and hyperautomation market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.