Hyper Automation is practice doing work with appropriate automation tools. It is an application of advanced technology such as RPA, artificial intelligence, machine learning, mining, and others. This technology is the combination of AI tools and RPA. It provides automation for virtual tasks which is executed by business users.
Many organizations are using hyper automation to identify and automate all business processes. Furthermore, for any organization, it optimizes tasks and processes through robots because it is the combination of various advanced technologies such as machine learning, various automation tools, packaged software, etc. .
Growing automation trends in various end-use industry and improved analytics due to hyper automation for return on investment are some of the major driving factors for the global hyper automation market. In addition, increasing demand for hyper automation in manufacturing industries to reduce the operational cost may create the huge market for it in the forecast period. But on another side, lack of skilled labors in hyper automation and high cost of initial investment hinders the overall growth of market in up-coming years. In addition, many big players are heavily investing in hyper automation which creates number of opportunities for the market to grow over the forecast period.
Some of the key players in the market include Tata consultancy services Ltd., Wipro Ltd., Infosys Ltd., Allerin tech Pvt. ltd., Automation anywhere Inc., OneGlobe LLC., Mitsubishi Electric Corp., Catalytic Inc., Datamatics Global Services Limited., and SolveXia.
Trends and Future Outlook:
- Growing advancements in manufacturing sector creates the demand for the hyper automation.
- In recent years, demand for automation has become a major trend in various industries to reduce the operational cost.
- In February 2020, Yseop, a leading AI and NLG firm announced strategic alliance with Automation Anywhere Inc., for efficient business processes in automation.