The Global Automation-as-a-Service Market accounted for US$ 2.79 Bn in 2018 and is expected to grow at a CAGR of 27.5% over the forecast period 2019-2027, to account for US$ 23.40 Bn in 2027.
The increasing adoption of digital solutions by different industry verticals and growing need for error-free and timely processes are few of the factors driving the Automation-as-a-Service Market worldwide. However, s frequent alterations in operating procedures and business rules impacting the efficiency, which in turn may restrain the future growth of automation-as-a-service market. Despite these limitations, entry of new players focusing on emerging economies is projected to have a positive impact on the growth of the Automation-as-a-Service Market in the coming years.
Automation has advanced enormously over last few years. Today, it is a key empowering influence of change, development, and aggressive differentiation for associations where various processes are institutionalized. It has effectively empowered early adopters to make a quick, exact, financially sound, all-rounder virtual workforce. The developing necessity for RPA execution have pushed the innovation to a focal point of excellence model facilitating advanced automation to the organizations. This has generated growth opportunities for system Integrators to partner and help companies optimally attain the automation to their systems. Based on region, North America held the largest share in the Global Automation-as-a-Service Market in 2018. This is majorly due to the growing service industry in the region. Moreover, the increased IT spending, presence of a large number of big enterprises, and technological advancements are some of the other drivers supporting the growth of the automation-as-a-service market. Whereas, APAC is anticipated to witness fastest growth during the forecast period. This can be attributed to the surging service industry in developing countries, such as China and India, economic development, increasing digitalization, and rising adoption of new technologies.
Key Players Influencing the Market
- Accenture PLC
- Automation Anywhere, Inc.
- Blue Prism Group plc
- HCL Technologies Limited
- Hewlett Packard Enterprise
- IBM Corporation
- Microsoft Corporation
- NICE Ltd.
- Pegasystems Inc
The market for automation-as-a-service has been segmented on the basis of component, deployment model, business function, and industry vertical. The Automation-as-a-Service Market based on component is sub-segmented into solution and services. The solution segment is expected to hold the prime market share in the automation-as-a-service market. The Automation-as-a-Service Market on the basis of deployment model is segmented into on-premise and cloud. The cloud based deployment model led the Automation-as-a-Service Market and it is anticipated to continue its dominance during the forecast period. The market for automation-as-a-service by industry vertical is further segmented into BFSI, IT & telecom, retail, healthcare & life sciences, transportation & logistics, government agencies, manufacturing, and others. The BFSI segment is expected to hold the lion’s share in the year 2018 and is expected to continue its dominance till 2027.
The overall Automation-as-a-Service Market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the automation-as-a-service market. It also provides the overview and forecast for the Global Automation-as-a-Service Market based on all the segmentation provided with respect to five major reasons such as North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis.
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