Automation As A Service Global Market Report 2024

“Automation As A Service Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on automation as a service market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
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• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for automation as a service? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The automation as a service market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Type: Rule-Based Automation; Knowledge-Based Automation
• 2) By Organization Size: Small And Medium-Sized Enterprises (SMEs); Large Enterprises
• 3) By Business Function: Information Technology; Finance; Human Resources; Sales And Marketing; Operations
• 4) By Service: Managed Services; Professional Services
• 5) By Industry: Banking, Financial Services, And Insurance (BFSI); Telecom And IT; Retail And Consumer goods; Healthcare And Life Sciences; Manufacturing; Government And Defense; Energy And Utilities; Media And Entertainment; Transportation And Logistics; Others Industries
• Companies Mentioned: Automation Anywhere Inc.; Blue Prism Group plc; HCL Technologies Limited; Hewlett Packard Enterprise Company; International Business Machines Corporation
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Automation as a service refers to a service provided by vendors to enterprises aiming to implement automation across their organization. Automation brings benefits such as improved speed, agility, and service delivery, reduced manual processing, lower IT spending, enhanced productivity across departments, and faster troubleshooting.

The main types of automation as a service are rule-based automation and knowledge-based automation. Rule-based processes involve tasks with a high potential for automation, such as searching, cutting and pasting, data updates, data movement, collating, and simple decision-making. Organizations of varying sizes, including small and medium-sized enterprises (SMEs) and large enterprises, can benefit from automation as a service. Business functions utilizing this service include information technology, finance, human resources, sales and marketing, and operations. The services offered encompass managed services and professional services. Industries such as banking, financial services, and insurance (BFSI), telecom and IT, retail and consumer goods, healthcare and life sciences, manufacturing, government and defense, energy and utilities, media and entertainment, transportation and logistics, and others leverage automation as a service solutions.

The automation as a service market research report is one of a series of new reports from The Business Research Company that provides automation as a service market statistics, including automation as a service industry global market size, regional shares, competitors with a automation as a service market share, detailed automation as a service market segments, market trends and opportunities, and any further data you may need to thrive in the automation as a service industry. This automation as a service market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The automation as a service market size has grown exponentially in recent years. It will grow from $6. 04 billion in 2023 to $7. 38 billion in 2024 at a compound annual growth rate (CAGR) of 22. 2%. The expansion observed in the historical period can be attributed to several factors, including an increased demand for streamlining business processes, the evolution of Robotic Process Automation (RPA), a shift towards cloud computing, a focus on cost reduction and operational efficiency, and a desire for scalable and flexible solutions. These factors collectively contributed to the growth of Automation as a Service during the historic period.

The automation as a service market size is expected to see exponential growth in the next few years. It will grow to $16. 99 billion in 2028 at a compound annual growth rate (CAGR) of 23. 2%. The anticipated growth in the forecast period can be attributed to several factors, including the increasing adoption of cloud-based solutions, a growing demand for intelligent automation, an emphasis on hyperautomation strategies, the development of industry-specific automation solutions, and the rise in remote workforce and digital transformation efforts. Major trends expected during this period encompass increased demand for process automation, a shift towards cloud-based automation solutions, the rise of Intelligent Process Automation (IPA), the integration of artificial intelligence (AI) and machine learning in automation processes, and the use of automation for business continuity and efficiency. These trends collectively contribute to the continued growth and evolution of Automation as a Service in the forecasted period.

The surge in demand for automation across various business processes is fueling the expansion of the automation as a service (AaaS) market. Automation within business operations involves leveraging technology to execute repetitive tasks and functions, reducing reliance on manual labor. Streamlining procedures like recruiting, accounts payable, and contract management aims to enhance productivity and minimize the likelihood of human errors. Moreover, automation plays a pivotal role in augmenting overall business efficiency, standardizing best practices, and facilitating cost savings. A global survey conducted by Salesforce Inc. in June 2022 among 600 CIOs and IT decision-makers revealed a significant uptick in the demand for automation across diverse business sectors over the past two years. Notably, research and development (39%), administrative/operations (38%), customer service (33%), and marketing (26%) were identified as areas experiencing heightened demands for automation. Consequently, the escalating necessity for automation in business processes is a driving force behind the growth of the automation as a service market.

The escalating requirement to simplify intricate business processes is poised to propel the expansion of the automation as a service (AaaS) market. Complex business processes encompass multifaceted workflows, operations, and procedures within organizations that involve multiple tasks, decisions, and stakeholders, often spanning various departments or functions. Businesses are turning to AaaS solutions to streamline these convoluted workflows, rendering them more manageable and cost-effective. Recent statistics in the robotics industry, according to TechJury in August 2023, forecast a notable trend where an estimated 90% of businesses plan to integrate robotic automation into their operations by 2030. This rise in automation integration raises concerns about potential job displacement, with projections indicating the potential loss of 73 million jobs in the US, putting 14 to 80 million jobs at risk to automation. Thus, the escalating need to simplify intricate business processes is projected to drive the growth of the Automation as a Service (AaaS) market.

Prominent players in the automation as a service (AaaS) market are introducing innovative solutions, including digital investment solutions, to secure a competitive advantage. Digital investment solutions harness technology to provide clients with seamless and secure access to meticulously designed portfolios aligned with their financial objectives. For instance, Truist Financial Corporation, a US-based bank holding company, unveiled Truist Invest and Truist Invest Pro in August 2022. These solutions offer clients purpose-built portfolios supported by Truist's investment expertise. Truist Invest functions as a robo-advisor, while Truist Invest Pro integrates automated investing with access to a team of financial advisors, embodying Truist's T3 strategy-fusing clients' preferred levels of personalized service with innovative technology. These digital investment solutions underscore the efforts of major companies to stay competitive in the automation as a service market.

Key players within the automation as a service (AaaS) market are actively pursuing partnerships and collaborations, pooling their resources, expertise, and capabilities to collectively achieve common objectives and offer clients cutting-edge technology solutions. An example of this strategic alliance is the partnership announced in April 2022 between UiPath, a US-based automation software vendor, and NCS, a Singapore-based technology services firm. This collaboration aims to deploy enterprise-grade automation capabilities, supporting NCS in its quest to establish itself as the leading technology services firm in the Asia Pacific region with a core focus on automation-driven service delivery. The strategic partnership is anticipated to foster market growth by enabling organizations to automate various business functions, thereby boosting productivity and efficiency levels.

In July 2022, WNS Holdings, an India-based business process management company, acquired Vuram for a sum of $165 million. This acquisition is strategically aligned with WNS's organizational transition towards human-assisted, digitally driven services and solutions. Vuram, an India-based enterprise offering customized, scalable, and end-to-end business process management solutions, possesses extensive expertise in aiding major businesses in achieving enterprise automation and driving business transformation. The acquisition of Vuram by WNS complements both its short- and long-term strategic goals. Notably, Vuram employs around 900 individuals across various cities in India, the US, Mexico, Australia, Canada, and the UK, further enhancing WNS's global footprint and expertise in delivering comprehensive automation-driven business services.

Major companies operating in the in the automation as a service market report are Automation Anywhere Inc. , Blue Prism Group plc, HCL Technologies Limited, Hewlett Packard Enterprise Company, International Business Machines Corporation, Microsoft Corporation, UiPath, Pegasystems Inc. , Kofax Inc. , Nice Ltd. , Accenture plc, Capgemini SE, Cognizant, Infosys Limited, Tata Consultancy Services Limited, Wipro Limited, Tech Mahindra Limited, Genpact Limited, DXC Technology Company, Atos SE, Deloitte Touche Tohmatsu Limited, Ernst & Young Global Limited, KPMG International Limited, ScienceSoft USA Corporation, PixelCrayons, CONTUS TECH, DevCom, Algoworks, ELEKS Software, WorkFusion, EdgeVerve Systems

North America was the largest region in the automation as a service market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automation as a service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the automation as a service market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The automation as a service market includes revenues earned by entities by providing automation services enabling an organization in automating the business processes by recording and analyzing information from the existing applications. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.