The automation CoE market size to grow from USD 0.3 billion in 2022 to USD 1.5 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 36.9% during the forecast period. The automation COE market is expected to grow at a significant rate during the forecast period, owing to the need to automate business process. Some factors driving the growth of the automation COE market are significant improvements in ROIs across businesses, reduced data entry errors, and improved quality with reduced risk.
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An automation center of excellence (COE) includes the people, processes, and technologies that help improve overall automation process. An automation COE is an internal business unit dedicated to implementing automation initiatives across the entire organization and coordinates automation projects across various business units and identifies and approves reusable components that can be utilized in future automation projects. Effective COEs can differ from organization to organization, depending on the size of the company or the scale of automation.
Governance Services to witness the highest CAGR during the forecast period
Based on service, the automation COE market is segmented into technology assessment & consulting, design & testing, governance, and implementation support services. Automation COE combines multiple technologies to automate complex end-to-end business processes that involve decision-making and continuous learning. Businesses leverage this opportunity by automating small rule-based tasks to complex business processes. To respond to this dynamic trend, organizations need superior automation capabilities. With the growing adoption of technology-based software solutions, the demand for advisory services is likely to rise. Non-IT organizations require advisory services because they lack the skills to comprehend the complexity involved in establishing advanced automation technologies.
Some major players in the automation COE market include SS&C Blue Prism (UK), UiPath (US), Automation Anywhere (US), NICE (Israel), Digital Workforce (Finland), HelpSystems (US), Ctrl365 (Argentina), FASTPATH (Netherlands), ElectroNeek (US), AnyRobot (US), Roboyo (Germany), Nintex (US), Chazey Partners (US), Smartbridge (US), Blueprint (US), Robocloud (UK), Verint (US), HelpSystems (US), Cigniti (India), Innominds (US), TestingXperts (US), KiwiQA (Australia), Calidad Infotech (India), CIGNEX (US), ChoiceWORX (US), and XenonStack (US). These players have adopted various organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions, to expand their presence in the global automation COE market.
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SS&C Blue Prism is a UK-based software enterprise that was acquired by SS&C Technologies Holdings, a global leader in robotic process automation (RPA) and intelligent automation. RPA enables blue-chip companies to create a digital workforce powered by software robots to automate routine back-office clerical tasks. The company’s software enables the automation of manual, rules-based administrative processes to create a more agile, cost-effective, and accurate back-office.
SS&C Blue Prism is a provider of intelligent automation solutions for enterprises. Its products include an intelligent automation platform, cloud platform, as well as automation lifecycle management, robotic operating, process assessment, and other solutions. The company serves the financial, transportation & logistics, insurance, telecom, healthcare, public, manufacturing, retail, energy & utilities, and hospitality industries.
Automation Anywhere is the world’s leader in RPA and AI. The company offers the most widely deployed RPA platform to enable the automation of end-to-end processes. Automation Anywhere combines traditional RPA with cognitive elements such as natural language processing and reading unstructured data. The technology knows three pillars: Robotic Process Automation, Cognitive Automation, and Digital Workforce Analytics. Automation Anywhere’s RPA software is built for business users to record and deploy robots without needing any coding skills. The company’s product portfolio comprises IQ Bot (a cognitive automation solution, which helps automate business processes), Bot Insight (an analytics platform that provides operational and business intelligence), and Automation Anywhere Enterprise (a digital workforce platform that creates software robots to automate business processes). It also offers consulting services.
Digital Workforce is a leading business automation platform and service provider globally. Digital Workforce’s Outsmart platform allows organizations to accelerate digitalization, increase revenue, improve customer experience, and gain a competitive advantage. Globally, over 200 large customers use Digital Workforce’s platforms and services to transform their businesses with automation. Digital Workforce offers a range of services and tools to support organizations in the robotics journey. The services include Robot-as-a-Service from the private cloud or Azure environment and Robotics Consulting. The company’s services make it possible to achieve tangible results from intelligent automation rapidly. Digital Workforce is one of the top RPA service providers globally, both in terms of revenue and head count. The company provides services across a range of industries. The company has automated over 4,000 business processes for customers.
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