The automation as a service market size is expected to see exponential growth in the next few years. It will grow to $16.99 billion in 2028 at a compound annual growth rate (CAGR) of 23.2%. The growth in the forecast period can be attributed to increasing adoption of cloud-based solutions, growing demand for intelligent automation, emphasis on hyperautomation strategies, industry-specific automation solutions, rise in remote workforce and digital transformation. Major trends in the forecast period include increased demand for process automation, shift towards cloud-based automation, rise of intelligent process automation (ipa), integration of ai and machine learning, automation for business continuity and efficiency..
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Segmentation & Regional Insights
The automation as a service market covered in this report is segmented –
1) By Type: Rule-Based Automation, Knowledge-Based Automation
2) By Organization Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
3) By Business Function: Information Technology, Finance, Human Resources, Sales And Marketing, Operations
4) By Service: Managed Services, Professional Services
5) By Industry: Banking, Financial Services, And Insurance (BFSI), Telecom And IT, Retail And Consumer goods, Healthcare And Life Sciences, Manufacturing, Government And Defense, Energy And Utilities, Media And Entertainment, Transportation And Logistics, Others Industries
North America was the largest region in the automation as a service market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automation as a service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing demand for automation across business processes is driving the growth of automation as a service market. Automation in business operations is the use of technology to carry out repetitive actions and jobs rather than people. Businesses must streamline their recruiting, accounts payable, and contract management procedures to increase productivity and decrease the risk of human mistakes. Additionally, automation can increase overall business function efficiency, standardize best practices, and cost savings. For instance, in June 2022, Salesforce Inc., a US-based cloud-based software company, conducted a global survey of 600 CIOs and IT decision makers, revealing that in the past 2 years, 91% of respondents have observed an increased demand for automation from various business sectors, with research and development (39%), administrative/operations (38%), customer service (33%), and marketing (26%). Therefore, the increasing need for automation in business processes drives the automation as a service market growth.
Key Industry Players
Major companies operating in the automation as a service market report are Automation Anywhere Inc., Blue Prism Group plc, HCL Technologies Limited, Hewlett Packard Enterprise Company, International Business Machines Corporation, Microsoft Corporation, UiPath, Pegasystems Inc., Kofax Inc., Nice Ltd., Accenture plc, Capgemini SE, Cognizant, Infosys Limited, Tata Consultancy Services Limited, Wipro Limited, Tech Mahindra Limited, Genpact Limited, DXC Technology Company, Atos SE, Deloitte Touche Tohmatsu Limited, Ernst & Young Global Limited, KPMG International Limited, ScienceSoft USA Corporation, PixelCrayons, CONTUS TECH, DevCom, Algoworks, ELEKS Software, WorkFusion, EdgeVerve Systems
The automation as a service market report table of contents includes:
1. Executive Summary
2. Automation As A Service Market Characteristics
3. Automation As A Service Market Trends And Strategies
4. Automation As A Service Market - Macro Economic Scenario
5. Global Automation As A Service Market Size and Growth
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31. Global Automation As A Service Market Competitive Benchmarking
32. Global Automation As A Service Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Automation As A Service Market
34. Automation As A Service Market Future Outlook and Potential Analysis
35. Appendix
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According to a research report "Automation-as-a-Service Market by Component (Solution and Services), Type (Rule-Based and Knowledge-Based), Business Function, Deployment Model (Public Cloud, Private Cloud, and Hybrid Cloud), Organization Size, Industry, and Region - Global Forecast to 2022", published by MarketsandMarkets, the Automation-as-a-Service Market expected to grow from $1.80 Billion in 2017 to $6.23 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 28.1%.The major factors driving the automation-as-a-service market are the increasing demand for automation and the increasing adoption of cloud technology.
Various opportunities present in this market include the higher adoption of the automation-as-a-service solutions by the Small and Medium-sized Enterprises (SMEs) and the ability to generate a positive Return on Investment (RoI).Browse in-depth TOC on "Automation-as-a-Service Market"84- Tables45- Figures192- PagesDownload PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=57656106Sales and marketing business function is expected to grow at the highest CAGRAutomation-as-a-service solutions and services are used for various business functions, which include Information Technology (IT), sales and marketing, finance, operations, and Human Resource (HR).
The sales and marketing business function is expected to witness the highest CAGR during the forecast period because of the increasing need for sales and marketing departments across industries, to automate various repetitive and mundane tasks that utilize a lot of time of the sales and marketing representatives, which can otherwise be used for beneficial tasks such as customer acquisition and retainment.Healthcare and life sciences industry is expected to have the highest growth rate during the forecast periodAutomation-as-a-service solutions have been deployed across various industries, including Banking, Financial Services, and Insurance (BFSI); telecom and IT; retail and consumer goods; manufacturing; healthcare and life sciences; energy and utilities; transportation and logistics; media and entertainment; government and defense; and others (travel and hospitality, and education).
The healthcare and life sciences industry is expected to witness the highest CAGR during the forecast period because of the increasing need for managing the growing data coming from various patients, maintaining their records, and automating the repetitive tasks.North America is expected to dominate the automation-as-a-service market during the forecast periodNorth America is expected to hold the largest share of the automation-as-a-service market in 2017, due to the automation advancements and early adoption of automation-as-a-service solutions in this region.
Some of the major technology vendors in the automation-as-a-service market include Automation Anywhere, Inc. (US), Blue Prism Group plc (UK), International Business Machines Corporation (US), Microsoft Corporation (US), UiPath (US), HCL Technologies Limited (India), Hewlett Packard Enterprise Development LP (US), Kofax Inc. (US), NICE Ltd. (Israel), and Pegasystems Inc. (US).About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.
Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients.
The global automation as a service is growing rapidly.
Robotic process automation (RPA) software helps industries automate business processes for lower-cost production, improved compliance, and increased productivity.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/5551Moreover, the augmenting demand for time and cost-effective manufacturing techniques escalate market growth.
Advancements in the automation and Internet of Things (IoT) devices foster the growth of the market.
Nevertheless, substantial R investments would support market growth throughout the review period, bringing about novel automation devices and services.Global Automation as a Service Market – SegmentationThe report is segmented into six dynamics;By Component : Solutions and Services (deployment & integration and support & training, others).By Deployment : Cloud-based and On-Premise.By Organization Size: Small-to-Medium-Sized and Large Enterprises.By Application : Information Technology (IT), Sales & Marketing, Operations, Finance & Human Resources (HR), and others.By End-User : BFSI, Telecommunications & IT, Retail & Wholesales, Healthcare & Life Science, Transportation & Logistics, Media & Entertainment, Hospitality, and others.By Regions : Americas, Europe, APAC, and Rest-of-the-World.Automation-as-a-Service Market – Geographical AnalysisNorth America dominates the global automation as a service market.
The rising adoption of automation as a service in the telecommunications & IT sector creates substantial market demand.The increase in the adoption of automation and cloud technologies among enterprises pushes the regional market's growth.
Additionally, the proliferation of smart & connected devices and the Internet acts as a key driving force for the growth of the regional market.Furthermore, spurting growth in consumer electronics, automotive, aerospace & defense, and telecommunication industries stimulates the market growth in the region.
