Size of the automation-as-a-service market worth $23.39 billion, globally, by 2027 – Exclusive report by The Insight Partners

Insight Partners

Automation-as-a-Service Market was valued at US$3.35 Billion in 2019 and is projected to reach US$23.39 Billion by 2027. It is expected to grow at a CAGR of 27.5% during of the forecast period from 2020 to 2027.

New York, July 27. Feb. 2, 2022 (GLOBE NEWSWIRE) — The Insight Partners has released the latest research study on “Automation as a Service Market to 2027 – Global analysis and forecasts by component (solution and service); Deployment model (on-premises and cloud); Commercial function (sales and marketing, finance and operations, human resources, information technology); Industry Vertical (BFSI, IT & Telecom, Retail, Healthcare & Life Sciences, Transportation & Logistics, Government & Defense Agencies, Manufacturing & Others) » Global Automation as a Service Market growth is driven by the growing adoption of digital solutions by different industry verticals and the growing need for error-free and fast processes.

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Market size Value in

US$3.35 billion in 2019

Market Size Value by

$23.39 billion by 2027

Rate of growth

CAGR of 27.5% from 2020 to 2027

Forecast period

2020-2027

base year

2020

Number of pages

213

Number of tables

111

Number of graphs and figures

88

Historical data available

Yes

Segments Covered

Making up ; deployment model; Commercial function; industry vertical

Regional scope

North America; Europe; Asia Pacific; Latin America; AEM

Country scope

United States, United Kingdom, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

Report cover

Revenue Forecast, Business Ranking, Competitive Landscape, Growth Factors and Trends

Automation has come a long way in recent years. Today, it is a key influence of change, development and aggressive differentiation for associations where various processes are institutionalized. It effectively enabled early adopters to build a fast, accurate, financially sound, and versatile virtual workforce. The growing need for RPA execution has driven innovation towards a Focal Point of Excellence model facilitating advanced automation for organizations. This has generated growth opportunities for system integrators to partner up and help companies achieve optimal automation of their systems. Based on region, North America held the largest share of the global automation-as-a-service market in 2018. This is primarily driven by the growth of the service industry in the region. Additionally, increasing IT expenditures, presence of a large number of large enterprises, and advancements in technology are some of the other drivers for the growth of the automation-as-a-service market. While APAC is expected to witness the fastest growth over the forecast period. This can be attributed to the booming service sector in developing countries, such as China and India, economic development, increasing digitalization and increasing adoption of new technologies.

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The growth of new technologies such as machine learning, cognitive computing, and artificial intelligence is expected to drive the evolution of automation tools at a faster pace. The application of smart technologies among innovation leaders and business pioneers should create arrangements that would lead to the development of an improvised framework, which would integrate everything from staffing and general expenses to execution and to productivity. Additionally, the significant advancements due to the combined impact of AI and ML technologies should ensure increased ROI and productivity. Thus generating growth opportunities for the market in the coming years. The demand for improved and innovative solutions is expected to snowball in the next 3-5 years, and companies operating in the ecosystem are expected to exemplify their expertise in order to meet multi-level demands.

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Main results of the study:

The Asia-Pacific region is expected to witness the fastest growth during the forecast period. The region has progressive economic prospects with the presence of developing countries like China, India and developed countries like Japan. Due to the presence of a large number of SMEs, coupled with the rapid expansion of the retail sector, the adoption of automation services is expected to gain momentum during the forecast period. Additionally, the continuous digitization plans by the government authorities of various countries will also accelerate the growth of the automation-as-a-service market. Additionally, advancements in technology and rapid urbanization are encouraging businesses across different verticals to implement automated tools to gain access to real-time information.

The Automation-as-a-Service market has been segmented on the basis of component, deployment model, business function, and industry vertical. The component-based automation-as-a-service market is sub-segmented into solutions and services. The solutions segment is expected to hold the leading market share in the automation-as-a-service market. The Automation-as-a-Service market based on deployment model is segmented into on-premises and cloud. The cloud-based deployment model has dominated the automation-as-a-service market and it is expected to continue to dominate over the forecast period. The automation-as-a-service market by 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 2018 and is expected to maintain its dominance through 2027.

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