Hyper Automation Market Insight
Hyper automation market deals with the application of advanced technologies, including artificial intelligence (AI) and machine learning (ML), to automate processes and augment human activity. Hyper-automation is based on the range of tools that can be automated and it also refers to sophistication of the automation i.e., analyses, design, discover, measure, monitor, automate, and reassess. In addition to this, it provides a high-speed route to engaging everyone in transforming the business, supported by automating more and more complex work that relies on knowledge inputs from people.
Impact of COVID-19 on Hyper Automation Market
- The COVID-19 pandemic has acted as a catalyst for the development of automation technologies by global and Indian companies, especially in the area of drones for the purpose of surveillance and medicine delivery, Indian IT industry.
- The unprecedented economic impact of COVID-19 on demand and supply, along with implications on geopolitics, and globalization, will influence the future of automation.
- The coronavirus pandemic may drive enhancement of automation digitalization and artificial intelligence (AI) in the automobile sector in post COVID era in order to improve resilience to future pandemics.
- In a situation like this automation and robotics could reduce dependence on human labor and increase productivity, preventing the chances of future plant shutdowns. In addition to this, IoT, AI and digitalization will become extremely relevant going forward and are going to define the new way of working. Thus, increasing the opportunities for the hyper automation market in the upcoming years.
Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Numerous factors such as growth in digitalization, rise in the demand for the automation in the manufacturing processes, reduce operational cost, improved efficiency are some of the key driving factor for this market. However, lack of skilled workforce and, high initial cost for the automation system in hyper automation may restrain the growth of the hyper automation market globally. Furthermore, increased penetration towards automation, rise in the demand of precise, increased return on investment and accuracy in various industry is creating growth opportunity in the global hyper automation market globally.
Increase in return on investments:
Hyper automation provides access to the improve analytics data and thus enterprise would also be able to ensure that they deliver the return on investment on time and with high accuracy. In addition to this, return on investment also helps to analyze how marketing efforts are impacting in improving and getting the positive results and which is one of the major goals of almost every organization and thus, due to the improved analytics for return on the investment is driving the growth of the market.
Lack of skilled manpower in the hyper automation:
The lack of skilled manpower and lack of training is currently the major challenge currently facing by many industries. Organization does not have complete awareness where the automation is required in the business but still implementing the trend blindly which may in turn results disaster. As skilled manpower and proper training plays a crucial role in the implementation of advance tools such as artificial intelligence, natural language processing and machine learning and thus lack of proper training may hinder the growth of the market.
Rise in demand for automation in the construction industry:
The technology is developing and every sector is trying to update itself with the evolving technology. Construction safety hyper automation helps the enterprises to uncover safety violations so that it should not become accidents or liabilities. The hyper automation also helps to ensure onsite workers are in accurate pedestrian walking lanes, confirms the security of safety equipment and also it is being worn all the times and also provides real time data of job sites behavior so that the adjustments can be made on the data and not speculations and thus integration and high adoption of automation in the construction as well as other industries are expected to boost the opportunity for the market.
Key benefits of the report:
- This study presents the analytical depiction of the global hyper automation market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of global hyper automation market share.
- The current market is quantitatively analyzed to highlight the global hyper automation market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides detailed hyper automation market analysis based on competitive intensity and how the competition will take shape in coming years.
Hyper Automation Market Report Highlights
| Aspects | Details |
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 Key Market Players | Tata consultancy services Ltd., Catalytic Inc., Infosys Ltd., OneGlobe LLC, Wipro Ltd., Mitsubishi Electric Corp., Allerin tech Pvt. ltd., Solvexis Ltd., Automation anywhere Inc., Appian Corp. |
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