Published Date: 28-Jul-22
Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support
According to a new report, published by KBV research, The Global RPA and Hyperautomation Market size is expected to reach $29.2 billion by 2028, rising at a market growth of 22.2% CAGR during the forecast period.
The BFSI segment acquired maximum revenue share in the Global RPA and Hyperautomation Market by Vertical in 2021, thereby, achieving a market value of $7.05 Billion by 2028. Automation solutions track and control these connections to ensure smooth transaction execution and eliminate bottlenecks in workflows. By aggregating data from many systems and performing validation checks to prepare information for comprehensive analysis, these solutions increase the precision and efficiency of different operations and help in regulatory and compliance reporting.
The Services segment is showcasing a CAGR of 24.4% during (2022 - 2028). RPA and Hyperautomation are two technologies that work together to automate complicated end-to-end business processes that need decision-making as well as continuous learning. Small rule-based chores to complicated business processes are being automated to take advantage of this opportunity.
The On-premise segment is leading the Global RPA and Hyperautomation Market by Deployment Type in 2021, thereby, achieving a market value of $15.9 Billion by 2028. It is due to the fact that customers or companies increasingly prefer solutions on their premises due to security purpose. Along with that, companies are investing a huge amount in automating their various procedures, which is contributing to the growth of the segment.
The Small & Medium Enterprises segment has shown growth rate of 23.9% during (2022 - 2028). The fierce market competition has prompted SMEs to invest in RPA and Hyperautomation solutions and services in order to increase productivity and cut expenses. Owing to its flexibility, cost-effectiveness, decreased technical risks, resource utilization scalability, and enhanced organizational efficiency, many businesses are aggressively adopting RPA.
The Information Technology (IT) segment dominated the Global RPA and Hyperautomation Market by Business Function in 2021, thereby, achieving a market value of $9.50 Billion by 2028. IT automation uses software to program and repeat procedures, policies, or instructions to save time and open up IT employees for more strategic tasks. Automation is a crucial tactic for assisting IT teams offer services with enhanced speed, accuracy, and security as virtual networks and cloud services grow in popularity and demand rapid, sophisticated deployment.
North America is the fastest growing region in the Global RPA and Hyperautomation Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $10.1 Billion by 2028. The Europe market is estimated to witness a CAGR of 21.7% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 22.8% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of IBM Corporation, Microsoft Corporation, SAP SE, Alteryx, Inc., Nice Ltd., Juniper Networks, Inc., Pegasystems, Inc., Appian Corporation, UiPath, Inc., and HelpSystems, LLC.
By Deployment Type
By Organization Size
By Business Function
Unique Offerings from KBV Research