Market Analysis
Automation as a Service Market to hit USD 9.36 Billion by 2030, registering a 24% CAGR during the forecast period, 2022-2030, states the latest Market Research Future (MRFR) analysis. Automation as a service can be defined as a process to assimilate every domain and functionality tool into different automation layers to have unified interface for all workflows. This can also be defined as the process of automating events, business functions, tasks, and processes.
Various factors are fuelling the global automation as a service market growth. As per the recent MRFR market estimates, such factors include the high adoption of automation services across business processes, use of cloud technology within enterprises to improve business growth, higher adoption of automation services among small and medium enterprises, the ability to generate positive impact, the demand for automation across business processes, adoption of cloud technology, the ability of performing mundane tasks efficiently, the advent of digitalization, the advent of industry 4.0, favorable government initiatives especially in developing regions to adopt technology to modernize applications, and the rise in adoption of robotics in manufacturing facilities.
On the contrary, maintaining data security and privacy, lack of skilled workforce, lack of awareness of automation as a service, impact of the COVID-19 outbreak, and rise in number of cyber-attacks on digital data may limit the global automation as a service market growth in the region.
Key Players
The eminent players profiled in the global automation as a service market report include Pegasystems Inc. (U.S.), NICE Ltd. (Israel), Kofax Inc. (U.S.), Hewlett Packard Enterprise Development LP (U.S.), HCL Technologies Limited (India), UiPath (U.S.), Microsoft Corporation (U.S.), International Business Machines Corporation (U.S.), Blue Prism Group Plc. (U.K), and Automation Anywhere, Inc. (U.S.), among others.
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Market Segmentation
The MRFR report throws light on an inclusive segmental analysis of the global automation as a service market based on vertical, application, organization size, deployment, type, and component.
By component, the global automation as a service market is segmented into professional services and managed services. The professional services is again segmented into support and training, deployment and integration, and consulting services. Of these, the service segment will lead the market over the forecast period.
By deployment, the global automation as a service market is segmented into on-premise and cloud. Of these, the cloud segment will dominate the market over the forecast period.
By organization size, the global automation as a service market is segmented into large enterprises and small and medium enterprises. Of these, the large enterprise segment will spearhead the market over the forecast period.
By application, the global automation as a service market is segmented into finance and human resources (HR), operations, sales and marketing, and information technology (IT). Of these, the sales and marketing segment will have the lions share in the market over the forecast period.
By end user, the global automation as a service market is segmented into hospitality, media and entertainment, transportation and logistics, healthcare and life science, retail and wholesale, telecommunications and IT, BFSI, and others. Of these, the BFSI segment will command the largest share in the market over the forecast period.
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Regional Analysis
By region, the global automation as a service market covers the recent trends and growth opportunity across Europe, the Asia Pacific (APAC), North America, and Rest of the World (RoW). Of these, North America will head the market over the forecast period. Technological advances, the presence of well-established IT infrastructure, the adoption of advanced technology across numerous industries, growing tech savvy population, the presence of well-developed economies of Canada and US, and the availability of prominent players are adding to the global automation as a service market growth in the region. The additional factors adding market growth include the existence of the largest information technology industry, the presence of top IT companies, the increase in the establishment of local start-ups, and the adoption of advanced technology across different industries.
In the APAC region, the global automation as a service market is predicted to have promising growth over the forecast period. The presence of small & medium enterprises that adopt cloud-based applications, increasing adoption of cloud technologies and automation among enterprises, government initiatives for development of smart cities in Taiwan, India, and China, increasing digitization in South Korea, Australia, India, and China, increasing urbanization, and growing need for consumer products that are forcing manufacturers in adopting cost effective and efficient automated manufacturing processes are adding to the global automation as a service market growth in the region.
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.
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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.
