Automation as a Service Market

Automation-as-a-Service Market is anticipated to grow at a 28.5% CAGR during the forecast period and expected to reach USD 28,048 Million by 2028.

Introduction of the Automation as a Service Market Report

Automation as a service can be referred to as the process of assimilating all functionality and domain tools into several automation layers to have unified interface for all workflows. It can also be referred to as the process of automating processes, events, business functions and tasks. Automation as a service allows organizations to facilitate the business processes by capturing and interpreting data from existing applications.

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Market Dynamic

Key Drivers and Emerging Trends

The major factors supplementing the growth of the global automation as a service market are the increasing adoption of automation services across various business processes and high utilization of cloud technology within enterprises to improve the business growth. Automation deals with manipulating data, triggering responses, and communicating with other digital systems. Moreover, automation as a service allows organizations to incline towards the reliable and fast automation across the organizations in real-time. Cloud services, such as Microsoft Azure, Amazon Web Services (AWS), and Google Cloud have been adopted by various organizations owing to their stated features, which include high resiliency, pay-per-use, self-service, ability to scale up or down based on the usage, among others. These factors play a crucial role in propelling the growth of the global automation as a service market.

Impact of COVID-19 on the Automation as a Service Market

The COVID-19 pandemic has significantly increased the growth of the global automation as a service market. During the pandemic, automation as a service has helped enterprises and businesses in transforming their service delivery and operations process and enabled their employees to work remotely. There has been a significant growth in self-service channels, ‘as a service’ models, comprehensive AI technology, remote workspaces, and productized services. These factors have bolstered the growth of the global automation as a service market.

Restraint in the Automation as a Service Market

High maintenance cost and complex data incorporation associated with performance of smart automated systems and increasing concerns related to the data security and privacy are some factors that might act as restraint in the growth of the global automation as a service market.

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Organization Size – Segment Analysis

Based on the organization size, the small & medium-sized enterprises segment is expected to grow at a higher CAGR over the forecast period. SMEs can reap several benefits from the automation of processes, such as finance, IT, HR, sales & marketing, and operations. Automation solutions offered on the cloud are valuable for the SMEs as they do not have enough resources to invest in manpower. In addition, investment in these solutions can streamline the business processes and can make business more profitable. These factors surge the growth of the small & medium-sized enterprises segment in the global automation as a service market.

Industry – Segment Analysis

On the basis of the industry, the BFSI segment is anticipated to grow at a faster CAGR over the forecast period. BFSI has various applications of automation solutions, such as automated teller, cash deposit machines, and draft deposit. Automation as a service also helps in aggregating information to review loan applications, automate the loan processing, validate the credit profile, among others. Moreover, AaaS plays a major role in processes, such as compliance, customer service, mortgage processing, invoice digitalization, detection of fraud, account closing process, among others. These features are likely to boost the growth of the BFSI segment in the global automation as a service market.

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Region – Segment Analysis

Based on the region, the North America region is projected to grow at a higher CAGR during the forecast period. This is majorly due to the high presence of top IT companies, such as IBM, Microsoft Corporation, HP Development Company, L.P., among others. Moreover, there has been an increase in the establishment of local start-ups in the region. For instance, HashiCorp Inc. is the US-based infrastructure automation start-up, which launched a new flagship product developed to make it more practical for enterprises to create automated multi-cloud environments. Furthermore, well established IT infrastructure and adoption of advanced technology across various industries are some other factors driving the growth of the automation as a service market in the North America. 

Top Market Players

Various notable players operating in the market include Microsoft Corporation, IBM, HCL Technologies Limited, Hewlett Packard Enterprise Development LP, Pegasystems Inc., Automation Anywhere, Inc., Blue Prism Limited, Kofax, UiPath, Nice Ltd., among others. 

Key Developments

• • In 2020, Microsoft Corporation launched the public review of its new desktop-based Robotic Process Automate (RPA) solution, known as Power Automate Desktop. This solution expands low-code automation capabilities for organizations and enables coders and non-coders alike to automate processes and tasks across web applications and desktop.
  • In 2020, IBM announced the acquisition of WDG Automation, a Brazilian software provider of robotic process automation (RPA). This acquisition aims to advance AI-infused automation capabilities for enterprises. 

Segments covered in the Report:

The global automation as a service market has been segmented on the basis of business function, deployment model, organization size, industry and regions. Based on business function, the market is segmented into information technology (IT), sales & marketing, operations, finance, and human resources (HR). Based on deployment model, the market is segmented into public cloud, private cloud, and hybrid cloud. Based on organization size, the market is segmented into small & medium-sized enterprises and large enterprises. Based on industry the market is segmented into BFSI, IT & telecommunication, retail & consumer goods, healthcare, manufacturing, and others. 

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Key questions answered in this research report:

• • At what pace is global automation as a service market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in automation as a service market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global automation as a service market?
  • Which business function generated maximum revenues in 2020 and identify the most promising business function during the forecast period?
  • What are the various deployment model areas of global automation as a service market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2020
Market Forecast Period	2021-2028
Market Revenues (2028)	USD 28,048 Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Business Function, By Deployment Model, By Organization Size, By Industry, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Microsoft Corporation, IBM, HCL Technologies Limited, Hewlett Packard Enterprise Development LP, Pegasystems Inc., Automation Anywhere, Inc., Blue Prism Limited, Kofax, UiPath, Nice Ltd., among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Automation as a Service Market by Business Function

• • Information Technology (IT)
  • Finance
  • Human Resources (HR)
  • Sales & Marketing
  • Operations

Global Automation as a Service Market by Deployment Model

• • Public Cloud
  • Private Cloud
  • Hybrid Cloud

Global Automation as a Service Market by Organization Size

• • Large Enterprises
  • Small & Medium-Sized Enterprises

Global Automation as a Service Market by Industry

• • BFSI
  • IT & Telecommunication
  • Retail & Consumer Goods
  • Healthcare
  • Manufacturing
  • Others

Global Automation as a Service Market by Region

• • North America Automation as a Service Market (Option 1: As a part of the free 25% customization)
    • By Business Function
    • By Deployment Model
    • By Organization Size
    • By Industry
    • US Market All-Up
    • Canada Market All-Up
  • Europe Automation as a Service Market (Option 2: As a part of the free 25% customization)
    • By Business Function
    • By Deployment Model
    • By Organization Size
    • By Industry
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Automation as a Service Market (Option 3: As a part of the free 25% customization)
    • By Business Function
    • By Deployment Model
    • By Organization Size
    • By Industry
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Automation as a Service Market (Option 4: As a part of the free 25% customization)
    • By Business Function
    • By Deployment Model
    • By Organization Size
    • By Industry
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Automation as a Service (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Microsoft Corporation
  • IBM
  • HCL Technologies Limited
  • Hewlett Packard Enterprise Development LP
  • Pegasystems Inc.
  • Automation Anywhere, Inc.
  • Blue Prism Limited
  • Kofax
  • UiPath
  • Nice Ltd.