In a recent published report, Kenneth Research has updated the market report for Automation as a Service Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
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U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Automation as a Service Market products.
The Automation as a Service Market is estimated to record a significant growth throughout the forecast period. The ICT sector constitutes 4.8% of the European economy. Europe’s organization ERDF i.e. European Regional Development Fund has allotted approximately USD 23 billion for investments related to ICT during the funding period 2014-2020. ICT refers to the communication technologies including the internet, wireless networks, social networking, cell phones, video-conferencing, computers, software, and other media applications and services enabling users to access, retrieve, and manipulate information in a digital form.
Automation as a Service (SDP) can be defined as the process of assimilating all domain and functionality tools into various automation layers to have unified interface for all workflows. It can also be defined as the process of automating events, processes, tasks and business functions.The global market for Automation as a service is occupied by a few technology giants such as Automation Anywhere, Inc. (U.S.), Blue Prism Group Plc. (U.K), International Business Machines Corporation (U.S.), Microsoft Corporation (U.S.), UiPath (U.S.), HCL Technologies Limited (India).
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Accenture and Blue Prism, a leading provider of enterprise robotic process automation (RPA) software, are working together to provide RPA solutions to help organizations across industries to automate a wide range of business processes for lower costs along with improved compliance and increased productivity. It is observed that more than 40 organizations have already selected Accenture and Blue Prism to help achieve this, including international retailer Circle K and Raiffeisen Bank International.
The factors driving the growth of the automation as a service market is the high adoption of automation services across business processes and utilization of cloud technology within enterprises to enhance the business growth. However, aspects such as maintaining data security and privacy is hampering the market growth. The opportunities identified in this market is the higher adoption of automation service among the small and medium enterprises and the ability to generate a positive impact.The Global Automation as a Service Market is expected to Grow at a CAGR of approximately 29% during the forecast period 2017-2023.
Key Players
Some of the prominent players in the global automation as a service market: Automation Anywhere, Inc. (U.S.), Blue Prism Group Plc. (U.K), International Business Machines Corporation (U.S.), Microsoft Corporation (U.S.), UiPath (U.S.), HCL Technologies Limited (India), Hewlett Packard Enterprise Development LP (U.S.), Kofax Inc. (U.S.), NICE Ltd. (Israel), and Pegasystems Inc.(U.S.) and others.
Segments
The global automation as a service market is segmented by component, type, deployment, organization size, application, and vertical. By component, the market consists of solutions & service. Service consists of managed services and professional services. Professional service consists of consulting services, deployment & integration, and support & training. By deployment, the market is segmented into cloud and on-premise. By organization size, the market is segmented into small & medium enterprises and large enterprises. By application, the market consists of information technology (it), sales and marketing, operations, finance and human resources (HR).And by end-user segment the market is segmented into BFSI, telecommunications and IT, retail & wholesales, healthcare and life science, transportation and logistics, media and entertainment, hospitality and others.
Regional Analysis
The global automation as a service market is studied for Asia Pacific, North America, Europe, and Rest of the World. It has been observed that North America region accounts for the largest share in the global Automation as a Service market. Owing to technological advancement, well-established IT infrastructure, adoption of advanced technology across numerous industries. Asia Pacific is expected to be the fastest growing owing to the presence of small and medium enterprises that mostly adopt cloud-based applications. Further, the increase in adoption of automation and cloud technologies among enterprise, and government initiatives, for development of smart cities in the APAC countries, that includes China, India, and Taiwan is aiding the market growth.
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Intended Audience
Technology Investors
Research/Consultancy firms
Technology Solution Providers
Software Solution Providers
Solution vendors
Original Equipment Manufacturers (OEMs)
System integrators
Advisory firms
National regulatory authorities
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