Automation as a Service Market Analysis

Automation as a Service Market Overview

The Automation as a Service market size is projected to grow from USD 2.0708 billion in 2024 to USD 9.35 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 20.74% during the forecast period (2024 - 2032). Additionally, the market size for Automation as a Service was valued at USD 1.67 billion in 2023.

Increased adoption of cloud services and increasing demand for automation across business processes are the key market drivers enhancing the market growth.

Figure1: Automation as a Service Market, 2018 - 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Automation as a Service Market Trends

Increasing in adoption of automation as a service across the business boost the market growth

A significant market driver for automation as a service is driving the market CAGR for automation services across industries. Through automation, a business's sales and marketing are more effective. Additionally, customers are offered effective goods and services. In many organisations, automation can simplify a very difficult task. Numerous businesses focus on challenging but unimportant tasks. It diverts time away from more crucial tasks to organise. The market for automation as a service, however, promotes work optimisation. Automation simplifies complex tasks so that the focus can be shifted to more important objectives.

These services are necessary for organisations and staff in order to generate revenue. The business is growing as a result of the adoption of automation as a service. Additionally, the market for automation as a service is driven by the expansion of demand from the human resources sector. For processes like staffing, calling, listing, and other similar ones, the HR department needs automation.

The entire organisation benefits from HR automation. Large-scale businesses are increasingly in need of this service. Early adopters of this technology include the telecom, IT, br si, and hr sectors. These markets are moving towards profitability as a result of automation. Therefore fueling the market's revenue for automation as a service.

Automation as a Service Market Segment Insights

Automation as service market by Solutions Insights

The automation as a service market segmentation, based on solution includes services and Solutions. From 2022 to 2032, the services category is predicted to be the fastest-growing segment in the market. The segment's rise is being driven by the overall increasing acceptance of automation services to deliver more efficient business operations, such as automation of various data analysis, events, and other business activities leading to a more streamlined functioning.

Automation as a service market by service Insight

The automation as service market segmentation, based on service, includes managed services, professional service, deployment and integration and support and training. From 2022 to 2032, the professional services segment is predicted to develop at the quickest rate in the market. Professional services firms in the United States generated around $2 trillion in 2022, an 11% increase over the previous year. One of the factors driving industry growth is the smart use of technologies that can save time, save costs, and provide clients with a better customized experience.

Automation as a service market by type Insights

The automation as a service market is divided into two types: automation and knowledge-based automation. The knowledge-based automation segment is predicted to be the fastest-growing category in the market. Firms are expected to employ knowledge-based automation since it helps to create output with more efficiency and accuracy by organizing unstructured data. This is accomplished by merging machine learning with data analytics and content, thereby discovering and rectifying knowledge-based gaps.

Automation as a service market by organization size Insights

The segmentation of the worldwide automation as service market by organization size comprises large scale and small scale. The small scale segment is anticipated to experience quicker CAGR growth during the projection period. In fields including finance, information technology, human resources, sales & marketing, and operations, SMEs can profit from process automation. Cloud-based automation solutions are useful for SMEs because they lack the funds to invest in hiring personnel. Also, spending money on these solutions might aid in streamlining business operations and boosting profitability. These elements fuel the small sized firm segment's expansion in the market for automation as a service.

Figure1: Automation as a Service Market, by Organization size, 2022 & 2032 (USD billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Automation as a Service Regional Insights

By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America is expected to have the largest share of the Automation as a service market. Because of the involvement of top IT firms and the fact that the majority of the major industry vendors are headquartered in the United States, the region is one of the market's major invaders and contributors. Furthermore, the market is being aided by increased enterprise adoption of automation and cloud technology, as well as government initiatives to build smart cities in the region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure2: AUTOMATION AS A SERVICE MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe’s automation as a service market accounts for the second-largest market share due to technological advancements and widespread adoption of automation technology in various industries. Further, the German automation as a service market held the largest market share, and the UK automation as a service market was the fastest-growing market in the European region

The Asia-Pacific Automation as a Service Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to increasing demand for automation solutions and services across multiple industry verticals such as BFSI, IT & telecom, and healthcare, among others. Moreover, China’s automation as a service market held the largest market share, and the Indian automation as a service market was the fastest-growing market in the Asia-Pacific region.

Automation as a Service Key Market Players & Competitive Insights

Leading market players are extensively spending in R&D to extend their product lines, which will help the automation as a service market grow even more. Market participants are also engaging in a number of strategic initiatives to grow their worldwide presence, with significant market developments including new product launches, contractual agreements, mergers and acquisitions, increased investments, and cooperation with other organizations. Automation as a service industry must deliver cost-effective products in order to grow and thrive in a more competitive and increasing market climate.

One of the primary business strategies utilized by manufacturers in the automation as a service industry to benefit customers and expand the market sector is local manufacturing to reduce operating costs. Some of the biggest benefits to medicine in recent years have come from the automation as a service industry. Major players in the automation as a service market, such as HCL Technologies Limited (India), Hewlett Packard Enterprise Development LP (US), KOFAX INC. (US), NICE Ltd. (Israel), Pegasystems Inc. (US), Accenture. (Ireland), WorkFusion, Inc. (US), Kryon Systems (US), and others, are making investments in their research and development activities in an effort to boost market demand.

Truist Financial Corporation is a Charlotte, North Carolina-based bank holding corporation. In December 2019, the firm was founded by the merging of BB&T (Branch Banking and Trust Corporation) with SunTrust Banks. Its bank has 2,781 locations in 15 states and the District of Columbia, and it provides consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services. In August 2022, Truist Corporation has expanded its digital investment offerings with Truist Invest, a Robo advisor, and Truist Invest Pro, a hybrid investing solution with automatic planning and an objective environment, as well as the option for advisor-driven recommendations to businesses in finance, healthcare, sports, and other industries.

Automation Anywhere is a software firm based in the United States that creates robotic process automation (RPA) software. The company was founded in 2003 and is headquartered in San Jose, California. Mihir Shukla, Neeti Mehta Shukla, Ankur Kothari, and Rushabh Parmani started Automation Anywhere as Tethys Solutions, LLC in San Jose. In 2010, the company changed its name to Automation Anywhere, Inc. As of early 2021, the corporation had over 2,800 client firms worldwide. Volkswagen, Whirlpool, and other companies were among the customers mentioned in 2020. In March 2020, Automation Anywhere Inc., a pioneer in automation technology, has launched Bot Store, a plug-and-play technology marketplace that accelerates business process automation. With the help of recently introduced software robots, businesses will be able to automate routine, high-volume tasks and run at a faster pace.

Key Companies in the automation as a service market include

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  Pegasystems Inc

  
  


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  Blue Prism Group ple

  
  


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  Microsoft Corporation

  
  


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  HCL Technologies Limited

  
  


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  Kofax inc.

  
  


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  Automation Anywhere International

  
  


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  Business Machines Corporation

  
  


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  UiPath

  
  


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  Hewlett Packard Enterprise

  
  


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  Development LP NICE Ltd.

  
  

Automation as a Service Industry Developments

May 2020:UiPath updated its Business Partner Program, allowing large organisations to take advantage of the company's hyper-automation capabilities. The organisation is now providing new training, credentialing, and marketing initiatives for business associates through the launch of its UiPath Services Network.

In March 2020:Microsoft Corporation has launched a public review of Power Automate Desktop, its new desktop-based Robotic Process Automation (RA) solution. This solution expands organisations' low-code automation capabilities by allowing coders and non-coders alike to automate processes and tasks across web applications and desktop.

In August 2020:IBM announced the acquisition of WDG Automation, a Brazilian robotic process automation software provider (RPA). This acquisition aims to advance enterprise Al-infused automation capabilities.

Automation as a Service Market Segmentation

Automation as a Service Market by Solutions Outlook

• Services


• Solutions

Automation as a Service Market by Service Outlook

• Managed services


• Professional service


• Deployment and integration


• Support and training

Automation as a Service Market by Type Outlook

• Automation


• Knowledge-based automation

Automation as a Service Market by Organization size Outlook

• Large scale


• Small scale

Automation as a Service Regional Outlook