Growing demand for automated services and processing capabilities in manufacturing industries to reduce the error rate and yield higher production rates is a key factor expected to drive growth of the global market over the forecast period.

Global Automation-as-a-Service Market: Overview

Automation is a process that involves computerizing a series of operations by interpreting and capturing the existing high-volume and repetitive business processes. In simple terms automation is offered through adoption of advanced technology, coupled with electronics and mechanics which functions with minimum human intervention. Subscription-based services that are delivered through cloud is known as automation-as-a-service. There are three type of mode automation offered such as fixed automation, programmable automation, and flexible automation. These systems manipulate data, trigger responses, and communicate with other digital systems to achieve high productivity and performance of an organization.

Global Automation-as-a-Service Market: Dynamics

Growing demand for automated services and processing capabilities in manufacturing industries to reduce the error rate and yield higher production rates is a key factor expected to drive growth of the global market over the forecast period. In addition, automation as a service is largely adopted by manufacturing industry to increase productivity and to offer improved product quality and safety. Moreover, automation reduces workloads of labor, reduced factory lead times, and makes efficient use of materials. Aforementioned are major factors expected to boost growth of the global automation-as-a-service market.

Increasing need for automated process and devices across various sectors for multiple business processes is another factor expected to drive growth of the target market. Furthermore, increasing emergence of technologies such as Big Data and Cloud, coupled with increasing adoption of these technologies in various sectors is expected to drive demand for automation services in developed and developing countries across the globe.

However, high maintenance and complex data integration associated with cost and performance of smart automated systems, and rising concerns associated with data security and privacy are major factors that could hamper growth of the market to a certain extent.

Global Automation-as-a-Service Market: Segment Analysis

Among the component segments, the service segment is expected to register relatively higher revenue share in the global automation-as-a-service market, as there is high demand for services due to its high installation cost.

Among the business function segments, the sales and marketing segment is expected to register major revenue share in the global market. The segment revenue is projected to expand at highest CAGR, due to increasing need to automate repetitive processes and tasks.

Among the deployment mode segments, the hybrid segment is expected to register major revenue share in the target market. This growth is primarily attributed to its cost efficient benefit and scalable features. The hybrid segment revenue is anticipated to register highest CAGR over the forecast period.

Global Automation-as-a-Service Market: Regional Analysis

The North America market is estimated to account for major revenue share in the global market. This growth is primarily attributed to well-developed economies of US and Canada and availability of prominent players operating in this region.

Moreover, the automation-as-a-service market in Europe is projected to register second-highest revenue growth in the next 10 years.

Global Automation-as-a-Service Market Key Players:

Kofax, Inc.
Nice Ltd.
Uipath, Inc.
IBM Corporation
HCL Technologies
Pegasystems, Inc.
Blue Prism Group plc
Microsoft Corporation
Automation Anywhere, Inc.
Hewlett Packard Enterprise Company

Global Automation-as-a-Service Market Segmentation:

Segmentation by Component:

Solution
Services
Managed Services
Professional Services

Segmentation by Business Function:

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

Segmentation by Deployment Mode:

Public Cloud
Private Cloud
Hybrid Cloud

Segmentation by Industrial Vertical:

Manufacturing
Telecom and IT
Energy and Utilities
Media and Entertainment
Retail and Consumer Goods
Healthcare and Life Sciences
Banking, Financial Services, and Insurance (BFSI)
Others (Travel and Hospitality, Transportation and Logistics, Government and Defense, and Education)