Hyperautomation Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The hyperautomation market is expected to register a CAGR of 19.3% over the forecasted period. The key reason fueling the growth of the global hyperautomation market is the increase in digitalization worldwide. A digital process automation solution is most frequently used in firms that need effective back-end processing administration due to the rising demand for business automation. As a result, more enterprises are being founded, including BFSI businesses, industrial industries, and online retailers. The market is growing more due to companies adopting automation faster. An organization can significantly speed up operations while lowering errors by automating all of the repetitive manual tasks previously carried out by humans.
Key HighlightsThe global hyperautomation market is moderately fragmented, with the presence of many companies. The companies continuously invest in strategic partnerships and product developments to gain more market share. Some of the current events in the market are:
June 2022 - Tray.io, a low-code automation and integration player, announced new capabilities designed to accelerate enterprise hyper-automation initiatives. With Connector Builder, Tray.io provides end-to-end connectivity for all user types, enabling low-code developers to create reusable connectors on-demand fast, efficiently, and visually. Additionally, the integration of hundreds of underlying endpoints into only three API calls is made simpler with a new Connectivity API experience for developers.
May 2022 - A global player in digital payments, Visa, and Phrasee, a player in brand language optimization, announced the establishment of an exclusive agreement for Europe. The three-year contract is a component of Visa's strategic investment in its customers, including the top B2B financial services companies in Europe. Phrasee will make its advanced machine learning and natural language generation technologies available to Visa customers through its reseller program.
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