The automation-as-a-service market was valued at USD 2.33 billion in 2019 and is expected to reach USD 7.73 billion by 2025, at a CAGR of 22.15% over the forecast period 2020 - 2025. To be able to succeed in this highly competitive market landscape, most of the enterprises are focusing primarily on increasing agility, reducing operational complexity, and improving innovation speed, while keeping the costs to a lower level. Automation-as-a-service solutions.
- The market for Automation-as-a-Service is witnessing significant growth, owing to the increased adoption of artificial intelligence and machine learning, rapid deployment of IoT and connected infrastructure, and proliferation of digital automated devices.
- Automation-as-a-Service solutions basically aid businesses or enterprises to transform their service delivery and operational process to achieve higher accuracy, cost savings, and high productivity.
- AaaS solutions can quickly, effectively, and inexpensively automate time-consuming, highly repetitive, and accident-prone internal IT and business processes, and can help business pass resources to other business functions and segments.
- AaaS is not a service that is entirely new or disruptive. It is just an extension of the forward-thinking of business strategists, who seek and invest to make processes easier and efficient and to make way for the adoption of new technology faster and maintain a competitive edge in the market.
Scope of the Report
Automation-as-a-service basically enables an organization to automate the existing business processes by recording and analyzing data from the existing applications. It enables an organization to transform from a manual process to reliable, accurate and fast automation processes across the organization.
Key Market Trends
Retail and Consumer Goods Segment to Witness High Growth
- In today’s economic environment, with many enterprises going global and acquiring customers across the globe, firms are demanding higher productivity, better cost control, improved process control, and improved risk management, to cope up with the frequent market changes and the increasing competitive pressure to deliver continuous business operational excellence and improvement.
- The involvement of process automation in organizations has been found to have improved consumer experience, owing to better customer service and reduced lead times for products. Customers find it easy to use an automated product vending machine installed at a retail store, also It saves the store from unnecessary expenditure.
- AaaS in the retail sector helps to expedite the process, reducing the time from ideation to sale, which, in turn, reduces indecision in informing trading decisions, through historical data and trend analysis. Moreover, with the increasing retail sales, the market is expected to grow further.
North America is Expected to Hold the Largest Market Share
- The North American region is expected to hold the largest share in the market during the forecast period owing to the rapid and early adoption of cloud-based technologies and IoT by the United States. However, advantages, such as improved agility, flexibility and being able to deploy new applications, also hold significance.
- Moreover, the customers in this region are also fast adopters of AaaS, as it saves plenty of customers time for any transaction or interaction required to avail the services. This creates an atmosphere that is conducive for the market, and hence, drives the market.
- Furthermore, with the presence of basic and advanced infrastructure necessary for the support of AaaS, makes the region better suited for the adoption of such solutions, and creates opportunities for the market vendors.
The automation-as-a-service market is highly competitive owing to the presence of many players. The market appears to be moderately concentrated with the major players adopting strategies like product and service innovation and mergers and acquisitions. Some of the major players in the market are IBM Corporation, Microsoft Corporation, HCL Technologies Limited among others.
- June 2018 - KMD partnered with IBM, to help it to expand into new markets. This partnership will help KMD to stay ahead of technological developments that include cloud, automation, machine learning, and security, and to help enterprise clients transform in the digital era.
- April 2018 - Automation Anywhere expanded in India, by opening a new facility in Bengaluru. The new center will be focused on serving the increasing demand for Automation Intelligent Digital Workforce Platform.
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