Automation as a Service Market Research Report- Forecast till 2023
Market Research Future says that global Automation as a Service Market’s revenue will reach 6 billion in the coming years. Such a significant growth is likely to take place at a CAGR of 29% during the forecast period 2017 to 2023.
Market Key Trends & Challenges
The experts from the Market Research Future reveals that the market for Automation as a Service Market is reflecting a steady growth as automation is high on its potentials. The future of automation is bright, which is one of the essential factors boosting the market’s growth.
Other than this, the factors driving the growth of the automation as a service market is noted to be the high adoption of automation services in business processes, across the world, and utilization of cloud technology within businesses to enrich the business growth for the future instances.
At the same time, currently, many organizations are actively developing their techniques as well as solutions so to gain more visibility in existing complex architecture. Therefore, with the help of the right solutions, the business processes can be automated with more efficiency. In this, automation-as-a-market is enhancing the mechanism of business processes for quick resolutions and hence helps in maintaining all the transaction records and provides the required security and privacy of the data. These factors are, thus, taking the market towards a hike that can be expected to give a positive approach to the market’s growth over the forecast period.
On the flip side, factors such as aspects of maintaining data security and privacy are impeding the market growth over the forecast period. The opportunities well-known in this market are the higher adoption of automation service among the small and medium businesses as well as the ability to generate a positive impact that can revive the status of the market and direct towards growth gaining purpose during the assessment period.
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The market for automation as a service globally in MRFR’s study has been segmented by the elements of component, type, deployment, organization size, application, and vertical.
In terms of component: Solutions & service are the segments while service consists of managed services and professional services.
In terms of deployment: Cloud and on-premise are the segments.
In terms of organization size: Small & medium enterprises and large enterprises are the segments.
In terms of application: Sales and marketing, Information technology (IT), operations, and finance and human resources (HR) are the segments.
In the last, under the end-user segment: Telecommunications and IT, retail & wholesales, healthcare & life science, transportation & logistics BFSI, media, and entertainment, as well as hospitality, have encouraged the market’s growth in the segmental analysis.
The automation as a service market globally is also studied among the key regions of Europe, North America, Asia Pacific, and the Rest of the World.
Among these regional contributors, North America occupies a higher share of global Automation as a Service (SDP) market by valuation, owing to early adoption of automation as a service and rapid introduction of technological advancements in the region.
While, in the Asia Pacific market, the enterprises in countries such as India and China are mostly operating in cloud-based applications, which is further ministering the market growth in the region.
Further, the study also indicates that Europe also occupies the place of significant value sharing in global Automation as a Service market.
Key Market Players
The list of the well-known players in the market of Automation as a service market is listed as International Business Machines Corporation (U.S.), Blue Prism Group Plc. (U.K), UiPath (U.S.), HCL Technologies Limited (India), Microsoft Corporation (U.S.), Kofax Inc. (U.S.), NICE Ltd. (Israel), Hewlett Packard Enterprise Development LP (U.S.), and Pegasystems Inc.(U.S.).
Among these, Accenture and Blue Prism are the leading providers of enterprise robotic process automation (RPA) software, as they are working together to provide RPA solutions. These things would help organizations across industries to automate a wide range of business processes for lesser costs along with enhanced compliance and increased productivity.
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Automation as a Service Market: By Component (Solutions & Service), Service (Managed, Professional), Deployment (Cloud & On-Premise), Organization Size (Small & Medium, Large), Application (Information Technology (It), Operations, Human Resources (Hr)– Global Forecast Till 2023
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