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2019

Automation as a Service Market

Automation as a Service Market Size, Share, Competitive Landscape and Trend Analysis Report by Component (Solution and Services), Business Function (Information Technology, Sales and Marketing, Operations, Finance, Human Resources, and Others), Enterprise Size (Large Enterprises and Small & Medium Enterprises), and Industry Vertical (BFSI, Telecom & IT, Retail, Healthcare, Manufacturing, Government & Defense, Energy & Utilities, Media & Entertainment, Transportation & Logistics, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026

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Author's: Sneha Korad and Makarand Sinnarkar | Vineet Kumar
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Automation as a Service Market Outlook - 2026

The automation as a service market size was valued at $2.08 billion in 2018, and is projected to reach $12.36 billion by 2026, growing at a CAGR of 25.3% from 2019 to 2026. Automation as a service is a suite of services such as consulting, installation, maintenance, and support that are associated with business or industry automation. Automation is achieved by implementing disruptive technologies and adopting various robotic or autonomous systems that are capable to operate without or minimum human interference. 

Advent of robotic technologies in operational systems is a major factor expected to propel the market growth during the forecast period. This growth of the automation as a service market is attributed to robotic technologies that have the capability be integrated in different systems and then execute the existing flow of processes in a more optimized way. The demand for autonomous systems that are capable to handle tremendous amount of data in today’s digital era also boosts the growth of the global market. As these systems respond to data extraction and reporting requests at a rapid pace, which fulfills the high-speed content demand from consumers. 

Automation as a Service Market

North America dominated the automation as a service market share in 2018 and is further expected to remain dominant during the forecast period. With compatible infrastructure and high number of early adopters in North America, Industries operating in this region have accelerated service innovation and delivery of business-critical processes at a rapid pace. Thus, the market in North America has registered the highest revenue share, owing to large number of players operating in the region. Moreover, Asia-Pacific countries have bolstered robotics adoption in almost all industry verticals, which, in turn is expected to propel the growth of the global market in the coming years in this region.

Automation as a Service Market
By Component
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Solution is projected as one of the most lucrative segments.

The report focuses on the growth prospects, restraints, and market analysis. The study provides Porter’s five forces analysis of the automation as a service industry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the automation as a service market.

Automation as a Service Market
By Business Function
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Information Technology is projected as one of the most significant segments.

Segment Review

The global automation as a service market segmentation includes component, business function, deployment, industry vertical, and region. By component, it is categorized into solution and services. On the basis of business function, it is divided information technology, sales and marketing, operations, finance, human resources, and others. On the basis of enterprise size, it is divided into large enterprises and small & medium enterprises. Depending on industry vertical, it is categorized into BFSI, telecom and IT, retail, healthcare, manufacturing, government and defense, energy and utilities, media and entertainment, transportation and logistics, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Automation as a Service Market
By Enterprise Size
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Large Enterprises is projected as one of the most significant segments.

The key players profiled in the automation as a service market forecast includes Automation Anywhere, Inc., Blue Prism Limited, HCL Technologies Limited, Hewlett Packard Enterprise Company, International Business Machines Corporation, Kofax Inc., Microsoft Corporation, NICE Robotic Automation, Pegasystems Inc., and UiPath.

Automation as a Service Market
By Industry Vertical
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BFSI is projected as one of the most significant segments.

Top Impacting Factors    

Rise in the need to ease complex business processes, reduce workforce cost, and adoption of cloud technology among industries across the globe are expected to positively impact the growth of the market. However, lack of skilled workforce and concerns associated with digital data security and privacy restrain the growth of the market to a certain extent. Furthermore, with increase in demand for automation as a service among small and medium scale enterprises and is expected to bolster the revenue growth opportunities for players in the automation as a service market trends.

Automation as a Service Market
By Region
2026
North America 
Europe
Asia-Pacific
LAMEA

Asia-Pacific would exhibit the highest CAGR of 29% during 2019-2026.

Ease of doing business

Surge in the need to ease complex business operations, various organizations are opting for technological solutions, especially automation technologies. As technology-enabled automation of complex business processes provide benefits such as streamlining its business process for simplicity, accomplish digital transformation, increase service quality, and help improve service delivery costs. Moreover, AaaS products are expected to gain new value creation from enormous flow of data that is generated from connected devices or products, and its ability to make automated decisions in real time are the factors that support the growth of the market. 

Reduction in workforce cost

Workplace automation has revolutionized businesses from self-service navigational technologies to identifying human emotions and producing natural language. Workforce automation spans over occupational and capability level automation for example, automated systems churn online applications with availability of specific skill set required by its company, which, in turn, help end-users to save time and money. For example, in loan firms, mortgage-loan officers are exempted from inspecting and processing repetitive paperwork and spend more time in reviewing exceptions, which, in turn, allows them to process more loans and spend more time consulting clients. With transformational changes in job profiles and processes, the economic benefits of automation is expected to extend far beyond workforce savings.

Key Benefits for Automation as a Service Market:

  • This study includes the automation as a service market opportunity, analysis, trends, and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities of the automation as a service industry.
  • The automation as a service market size is quantitatively analyzed from 2018 to 2026 to highlight the financial competency of the industry.
  • Porter’s five forces illustrates the potency of the buyers & suppliers in the automation as a service market analysis.

Automation as a Service Market Report Highlights

Aspects Details
Automation as a Service Market By Component
By Component
  • Solution
  • Services
Automation as a Service Market By Business Function
By Business Function
  • Information Technology
  • Sales & Marketing
  • Operations
  • Finance
  • Human Resources
  • Others
Automation as a Service Market By Enterprise Size
By Enterprise Size
  • Large Enterprises
  • Small & Medium Enterprises
Automation as a Service Market By Industry Vertical
By Industry Vertical
  • BFSI
  • Telecom and IT
  • Retail
  • Healthcare
  • Manufacturing
  • Government &Defense
  • Energy & Utilities
  • Media & Entertainment
  • Transportation & Logistics
  • Others
Automation as a Service Market By Region
By Region
  • North America  (U.S., Canada)
  • Europe  (Germany, UK, France, Rest of Europe)
  • Asia-Pacific  (Japan, China, India, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players
Key Market Players

NICE ROBOTIC AUTOMATION, Hewlett Packard Enterprise Company, Blue Prism Limited, Kofax Inc., Pegasystems Inc., HCL Technologies Limited, International Business Machines Corporation, Automation Anywhere, Inc., UiPath, Microsoft Corporation

Analyst Review

Growth of the automation as a service market is highly influenced in commensurate with several R&D and on-going digitization activities, especially in developing countries. With the rise in need for IT services, automation companies have brought new wave of enterprise IT services management platforms that are further expected to impact positively to the growth of the market. Proliferation of cloud computing services and solutions is encouraging businesses administrators to introduce automation as a services solution into existing infrastructure to help them stay competitive in the highly competitive market. 

The major challenges for service providers and end-users is the integration of their existing legacy system infrastructure with emerging technologies. New service management tools eliminate integration challenges, help companies to dramatically increase their productivity from end-users, provides infrastructure provisioning to IT process management, and service delivery in spaces such as marketing & human resources.

The global automation as a service market in North America and Asia-Pacific regions is witnessing rapid growth as major players operating in the market are headquartered in the North American region and high number of consumers for the market belong from the Asia- Pacific region. Further, favorable government initiatives such as digitalization and Industry 4.0 in Asia-Pacific supports migration and digitalization, which fuels the market growth. 

In today’s era, automation as a service plays a vital role in helping businesses to increase their supply chain process efficiencies, meet compliance obligations, and help them to retain high number of customers by enhancing customer experience. This is attributed to automation as a service’s capability to wider the range of product offerings and help businesses to reinvent their products with high degree of innovations.  

The key players operating in the global automation as a service market include Automation Anywhere, Inc., Blue Prism Limited, HCL Technologies Limited, Hewlett Packard Enterprise Company, International Business Machines Corporation, Kofax Inc., Microsoft Corporation, NICE Robotic Automation, Pegasystems Inc., and UiPath. Major players have adopted various revenue and business growth strategies to enhance and develop their product portfolio, strengthen their automation as a service market share, and help them to increase their market penetration.
 

Author Name(s) : Sneha Korad and Makarand Sinnarkar | Vineet Kumar

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Automation as a Service Market

Global Opportunity Analysis and Industry Forecast, 2019-2026