Dublin, March 27, 2020 (GLOBE NEWSWIRE) -- The "Automation-as-a-Service Market to 2027 - Global Analysis and Forecasts By Component; Deployment Model; Business Function; Industry Vertical" report has been added to ResearchAndMarkets.com's offering.
The global automation-as-a-service market accounted for US$ 2.79 billion in 2018 and is expected to grow at a CAGR of 27.5% over the forecast period 2019-2027, to account for US$ 23.4 billion in 2027.
The increasing adoption of digital solutions by different industry verticals and growing need for error-free and timely processes are few of the factors driving the automation-as-a-service market worldwide. However, frequent alterations in operating procedures and business rules impacting the efficiency, which in turn may restrain the future growth of automation-as-a-service market. Despite these limitations, entry of new players focusing on emerging economies is projected to have a positive impact on the growth of the automation-as-a-service market in the coming years.
Automation has advanced enormously over last few years. Today, it is a key empowering influence of change, development, and aggressive differentiation for associations where various processes are institutionalized. It has effectively empowered early adopters to make a quick, exact, financially sound, all-rounder virtual workforce. The developing necessity for RPA execution have pushed the innovation to a focal point of excellence model facilitating advanced automation to the organizations. This has generated growth opportunities for system Integrators to partner and help companies optimally attain the automation to their systems.
Based on region, North America held the largest share in the global automation-as-a-service market in 2018. This is majorly due to the growing service industry in the region. Moreover, the increased IT spending, presence of a large number of big enterprises, and technological advancements are some of the other drivers supporting the growth of the automation-as-a-service market. Whereas, APAC is anticipated to witness fastest growth during the forecast period. This can be attributed to the surging service industry in developing countries, such as China and India, economic development, increasing digitalization, and rising adoption of new technologies.
The market for automation-as-a-service has been segmented on the basis of component, deployment model, business function, and industry vertical. The automation-as-a-service market based on component is sub-segmented into solution and services. The solution segment is expected to hold the prime market share in the automation-as-a-service market. The automation-as-a-service market on the basis of deployment model is segmented into on-premise and cloud.
The cloud based deployment model led the automation-as-a-service market and it is anticipated to continue its dominance during the forecast period. The market for automation-as-a-service by industry vertical is further segmented into BFSI, IT & telecom, retail, healthcare & life sciences, transportation & logistics, government agencies, manufacturing, and others. The BFSI segment is expected to hold the lion's share in the year 2018 and is expected to continue its dominance till 2027.
Some of the players present in automation-as-a-service market are Accenture PLC, Automation Anywhere, Inc., Blue Prism Group plc, HCL Technologies Limited, Hewlett Packard Enterprise, IBM Corporation, Microsoft Corporation, NICE Ltd., Pegasystems Inc, and UiPath among others.
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- The key findings and recommendations highlight crucial progressive industry trends in the global automation-as-a-service market, thereby allowing players across the value chain to develop effective long-term strategies
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- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Key Topics Covered
1.1 Scope of the Study
1.2 Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.2 Secondary Research
3.3 Primary Research
4. Automation-as-a-Service Market Landscape
4.1 Market Overview
4.2 Ecosystem Analysis
4.3 Expert Opinions
4.4 PEST Analysis
4.4.1 North America - PEST Analysis
4.4.2 Europe - PEST Analysis
4.4.3 Asia-Pacific - PEST Analysis
4.4.4 Middle East & Africa PEST Analysis
4.4.5 South America PEST Analysis
5. Automation-as-a-Service Market - Key Industry Dynamics
5.1.1 Increasing adoption of digital solutions by different industry verticals
5.1.2 Growing need for error-free and timely processes
5.2.1 Frequent alterations in operating procedures and business rules impacting the efficiency
5.3.1 Increasing adoption in SMEs and emerging economies
5.4 Future Trend
5.4.1 Incorporating advanced capabilities in the automated processes
5.5 Impact Analysis of Drivers and Restraints
6. Automation-as-a-Service Market - Global Market Analysis
6.1 Global Automation-as-a-Service Market Overview
6.2 Global Automation-as-a-Service Market Forecast and Analysis
6.3 Market Positioning - Top Five Players
7. Automation-as-a-Service Market Analysis - By Component
7.2 Automation-as-a-Service Market Breakdown, by Component, 2018 & 2027
8. Automation-as-a-Service Market Analysis - By Deployment Model
8.2 Automation-as-a-Service Market Breakdown, by Deployment Model, 2018 & 2027
9. Automation-as-a-Service Market Analysis - By Business Function
9.2 Automation-as-a-Service Market Breakdown, by Business Function, 2018 & 2027
9.3 Sales & Marketing
9.4 Finance & Operations
9.5 Human Resources
10. Automation-as-a-Service Market Analysis - By Industry Vertical
10.2 Automation-as-a-Service Market Breakdown, by Industry Vertical, 2018 & 2027
10.4 IT & Telecom
10.6 Healthcare & Life Sciences
10.7 Transportation & Logistics
10.8 Government Agencies
11. Automation-as-a-Service Market - Geographic Analysis
11.2 North America Automation-as-a-Service Market Revenue and Forecast to 2027
11.3 Europe Automation-as-a-Service Market Revenue and Forecast to 2027
11.4 APAC Automation-as-a-Service Market Revenue and Forecast to 2027
11.5 MEA Automation-as-a-Service Market Revenue and Forecast to 2027
11.6 SAM Automation-as-a-Service Market Revenue and Forecast To 2027
12. Global Automation-as-a-Service Market - Industry Landscape
12.2 Market Initiatives
12.3 Mergers & Acquisitions
12.4 New Developments
13. Company Profiles
13.2 Automation Anywhere, Inc.
13.3 Blue Prism Group
13.4 HCL Technologies
13.5 Hewlett Packard Enterprise Development L.P. (HPE)
13.6 IBM Corporation
13.7 Microsoft Corporation
13.8 NICE Ltd.
13.9 Pegasystems Inc.
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