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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.Â
Impact of COVID-19 on Hyper Automation Market
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.
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.Â
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.Â
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.Â
Key benefits of the report:
Hyper Automation Market Report Highlights
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Key Market Players | Wipro Ltd., Catalytic Inc., OneGlobe LLC, Tata consultancy services Ltd., Automation anywhere Inc., Solvexis Ltd., Infosys Ltd., Appian Corp., Allerin tech Pvt. ltd., Mitsubishi Electric Corp. |
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