Hyper Automation Market is likely to register double digit CAGR during 2027



 Hyperautomation is a blend of different or more technologies such as robotic process automation, predictive analysis, and artificial intelligence. Hyperautomation is also used to automate the workflow and to increase the efficiency of the manufacturing process with minimal human intervention. In hyper automation, human interference is minimal in order to reduce the risk of human error and operational costs. Current business applications, including enterprise resource planning software, customer relationship management software, form the basis for hyper-automation by extracting the relevant data.


The global hyper automation market is expected to see a significant growth rate during the forecast period (2019-2027). Market growth is mainly due to the increasing adoption of automated manufacturing processes by multiple industries, including pharmaceuticals. In the automotive industry, some of the functions usually performed by humans are now being carried out by computers. For example, Thermax Limited, a provider of energy solutions, automated its chemical mixing process in Dahej, Gujarat, in May 2019.


Asia Pacific continued to play a leading role in the global hyperautomation market in 2018 and is projected to remain dominant over the forecast years. This is due to the rapid conversion of existing manufacturing plants into automated plants. For example, Rane Madras Limited, a manufacturer of car parts, adopted automated solutions for its new plant in Gujarat at Mitsubishi Electric Corporation in November 2018. Owing to the implementation of solutions, there is a major decrease in the energy consumption of the factory. In addition, there are numerous hyper automated solutions providers in India, such as Wipro limited, Infosys Limited and Tata Consultancy Services Limited. These factors are expected to fuel the demand for hyperautomation in the Asia-Pacific region over the forecast period.


To know the latest trends and insights prevalent in the global Hyper Automation Market, click here:  https://www.globenewswire.com/news-release/2020/04/27/2022483/0/en/Hyper-Automation-Market-to-Surpass-US-23-7-Billion-by-end-of-2027-Says-CMI.html

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