Northbrook, IL 60062 -- (SBWIRE) -- 09/10/2023 -- The global RPA and Hyperautomation Market size is to grow from USD 9.2 billion in 2022 to USD 26.0 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 23.1% during the forecast period, according to research report by MarketsandMarkets™.

The RPA and Hyperautomation market comprises three broad technologies: digital transformation with advanced techniques and surging demand for AI, ML, advanced analytics technologies for enhanced business operations, and rising demand for automated solutions for business continuity and planning is driving the growth of RPA and Hyperautomation market.

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312 - Tables
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The services segment to hold a higher CAGR during the forecast period

Based on components, the services segment holds a higher CAGR during the forecast period. RPA and Hyperautomation combine multiple technologies to automate complex end-to-end business processes that involve decision-making and continuous learning. Businesses are leveraging this opportunity by automating small rule-based tasks to complex business processes. To respond to this dynamic trend, organizations need superior automation capabilities. Services form an integral part of the software lifecycle, including deployment, integration, product upgrade, maintenance, training, and consulting. Servers, apps, and managed services are the three types of services into which this segment is divided. Managed services are used for hosting and managing servers, applications, and networks for clients; these services are provided by third-party vendors. Professional services are obtained directly from parent companies.

The SMEs segment is estimated to have a higher CAGR during the forecast period

Based on organization size, the SMEs segment is estimated to have a higher CAGR during the forecast period. The intense competitive market scenario has encouraged SMEs to invest in RPA and Hyperautomation solutions and services, grow their productivity, and reduce costs. These enterprises aggressively opt for RPA due to flexibility, cost-effectiveness, lower technology risks, resource utilization scalability, and improved organizational productivity. The increasing awareness about the advantages of using automation within SMEs can help boost market growth. SMEs have limitations regarding human resources and budget and need to retain their operational expenses. The RPA enables SMEs to overcome the reduced human error and shortage of employees for redundant tasks by supporting automation functions, which is expected to boost the RPA and Hyperautomation market.

The cloud segment is expected to have a higher CAGR during the forecast period

Based on deployment mode, the cloud segment is expected to have a higher CAGR during the forecast period. SMEs are majorly moving toward adopting the cloud deployment type due to its major benefits, such as lower costs, no requirement of manpower for hardware maintenance, faster and efficient results, and complete flexibility and scalability, which result in reduced Operational Expenditure (OPEX) and CAPEX. Seamless flexibility and scalability enable customers to store and retrieve actionable insights anytime and anywhere easily. The cloud-based deployment type enables users to easily access RPA and Hyperautomation solutions from a remote location in real-time. Cloud-based RPA and Hyperautomation solutions provide cost-saving benefits, which improve enterprises' operational efficiency and reduce operational costs.

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Regional Analysis for RPA and Hyperautomation Market:

APAC to dominate the RPA and hyperautomation market in coming years owing to the rise in the need to streamline the business processes, reduce operational costs, and improve efficiency. The region is projected to be over USD 6.8 billion market by 2027 in terms of RPA and hyperautomation revenue.

Japan was experiencing a gradual but steady adoption of RPA and Hyperautomation solutions across various sectors. These solutions were seen as essential tools for improving operational efficiency, addressing labor shortages, and staying competitive in the global market.

Top Key Players:

Key players offering RPA and Hyperautomation market are IBM (US), Microsoft (US), SAP (Germany), Alteryx (US), Appian (US), Juniper Networks (US), NICE (Israel), Zendesk (US), Pegasystems (US), Automation Anywhere (US), UiPath (US), ProcessMaker (US), SolveXia (Australia), PagerDuty (US), Celonis (US), Blue Prism (UK), Laserfiche (US), akaBot (Vietnam), HelpSystems (US), Decisions (US), Datamatics (US), Quale Infotech (India), Laiye (China), Rocketbot (Chile), ElectroNeek (US), Automate.io (US), AutomationEdge (US), Techforce.ai (US), Turbotic (Sweden), Simple Fractal (US), and G1ANT (England).

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