Automation as a Service Market

Market Overview:

The global automation as a service market size reached US$ 6.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 25.3 Billion by 2028, exhibiting a growth rate (CAGR) of 26.98% during 2023-2028. The growing cloud computing activities, rising concerns about data security, and increasing employment to eliminate human involvement in various repetitive tasks represent some of the key factors driving the market.

Automation as a Service (AaaS) is offered to enterprises that are seeking assistance in implementing large-scale automation projects or scale automation across their organization. It comprises fixed, programmable, and flexible automation, which is employed for manipulating data, connecting with other digital systems, and triggering responses. It primarily involves the identification of automation use cases and candidates, development, testing, deployment of various automated solutions, and provision of production support services. It can be deployed on-premises or on public via private or hybrid clouds. It integrates the functions, events, and numerous processes of all domains into automation layers to create a unified interface for all workflows. It enables companies to achieve improved productivity across various departments with reduced requirements of manual processing. It also allows enterprises to manage their costs depending on the level of automation required and eliminates the requirement of large upfront payments. Furthermore, as AaaS enables companies to achieve faster troubleshooting facilities and improved service delivery, its demand is increasing across the globe.

Automation as a Service Market Trends:

At present, the rising demand for AaaS, as it is scalable, affordable, and provides improved agility, represents one of the primary factors influencing the market positively. Besides this, the rising cloud computing activities to delegate routine tasks and store valuable data are propelling the growth of the market. In addition, the growing adoption of AaaS by companies to improve their service delivery and operation processes for adapting to the aspects of virtual workspaces and cognitive computing is offering a favorable market outlook. Apart from this, the increasing utilization of AaaS in the banking, financial services, and insurance (BFSI) sector for aggregating information, reviewing loan applications, processing loans, validating credit profiles, know-your-customer (KYC) servicing and processing, customer service and compliance, and detecting fraudulent activities is contributing to the growth of the market. Additionally, the rising concerns about data security due to the increasing prevalence of various cyber security threats, including spam emails, removable drivers, unwanted software, and suspicious websites, are supporting the market growth. Moreover, the increasing employment of AaaS to eliminate human involvement in various repetitive tasks is strengthening the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global automation as a service market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, business function, enterprise size and vertical.

Component Insights:

• Solution
• Services
   

The report has provided a detailed breakup and analysis of the automation as a service market based on the component. This includes solution and services. According to the report, solution represented the largest segment.

Business Function Insights:

• Information Technology
• Sales and Marketing
• Operations
• Finance
• Human Resource
• Others
   

A detailed breakup and analysis of the automation as a service market based on the business function has also been provided in the report. This includes information technology, sales and marketing, operations, finance, human resource, and others. According to the report, finance accounted for the largest market share.

Enterprise Size Insights:

• Large Enterprises
• Small and Medium Enterprises
   

A detailed breakup and analysis of the automation as a service market based on the enterprise size has also been provided in the report. This includes large enterprises and small and medium enterprises. According to the report, large enterprises accounted for the largest market share.

Vertical Insights:

• BFSI
• Telecom and IT
• Retail and Consumer Goods
• Healthcare and Life Sciences
• Manufacturing
• Others
   

A detailed breakup and analysis of the automation as a service market based on the vertical has also been provided in the report. This includes BFSI, telecom and IT, retail and consumer goods, healthcare and life sciences, manufacturing, and others. According to the report, BFSI accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America (the United States and Canada) was the largest market for automation as a service. Some of the factors driving the automation as a service market in North America included the growing cloud computing activities, various technological advancements, increasing investments in digital transformation of businesses, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global automation as a service market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Automation Anywhere Inc., Blue Prism Limited, HCL Technologies Limited, Hewlett Packard Enterprise Development LP, International Business Machines Corporation, Kofax Inc., Microsoft Corporation, NICE, Pegasystems Inc., UiPath, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the automation as a service market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global automation as a service market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the automation as a service industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.