According to the latest report by IMARC Group, titled "Automation as a Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global automation as a service market size reached US$ 6.0 Billion in 2022. Automation as a service (AaaS) is a solution provided by vendors to enterprises that are focusing on implementing large-scale automation projects or scale automation across their organizations. It consists of fixed, programmable, and flexible automation, which is employed for managing and manipulating data and initiating responses. It can deploy on-premises through private and hybrid clouds. It enables companies to accelerate their service delivery by using technology instead of relying on the manual execution of processes and requests. It also assists in improving customer satisfaction by allowing enterprises to execute their operations efficiently and spontaneously.
Global Automation as a Service Market Trends:
At present, the increasing demand for AaaS to enhance productivity and operational efficiency by relieving the burden of excess work on employees represents one of the key factors propelling the growth of the market. Besides this, the rising trend of cloud computing for delegating routine tasks and storing large amounts of data is contributing to the growth of the market. In addition, the growing adoption of robotic or autonomous systems that can operate without or with minimum human interference is offering a favorable market outlook. Apart from this, the rising trend of automating business processes to minimize errors in operations is supporting the growth of the market. Additionally, the increasing adoption of AaaS to manage information technology (IT) operations and redirect resources and effort into other roles and divisions is bolstering the growth of the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 25.3 Billion by 2028, exhibiting a CAGR of 26.98% during 2023-2028.
- On the basis of the component, solution represents the largest segment, followed by services.
- Based on the business function, the market has been segregated into information technology, sales and marketing, operations, finance, human resource, and others. At present, finance holds the biggest share in the market.
- On the basis of the enterprise size, the market has been bifurcated into large enterprises and small and medium enterprises. Large enterprises currently exhibit a clear dominance in the market.
- Based on the vertical, the market has been divided into BFSI, telecom and IT, retail and consumer goods, healthcare and life sciences, manufacturing, and others. Presently, BFSI accounts for the total market share.
- Region-wise, the market has been divided into 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. Amongst these, North America enjoys the leading position in the market.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players 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., and UiPath.
|Base Year of the Analysis
||Component, Business Function, Enterprise Size, Vertical, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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. and UiPath.
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