Automation-as-a-Service Market Trends and Forecast by 2031
The automation-as-a-service market size is projected to reach US$ 20.93 billion by 2031 from US$ 3.32 billion in 2023. The market is expected to register a CAGR of 25.9 % in 2023–2031. The integration of advanced technologies to improve efficiency is likely to remain a key automation-as-a-service market trend.
Automation-as-a-Service Market Analysis
The market is expanding rapidly due to the increasing use of AaaS, which enables businesses to increase their competitiveness, focus on higher-value tasks, and generate faster and more accurate outcomes. Furthermore, the market is being impacted by the increasing demand for AaaS, resulting in the global expansion of remote work culture. Aside from this, industry investors are being presented with profitable growth prospects through the increasing acceptance of AaaS, which can support sustainability initiatives by lowering paper waste, energy consumption, and carbon emissions through streamlined procedures. Furthermore, the increasing emphasis on improved security to combat cyberattacks is driving the market expansion. In keeping with this, the market is growing due to the increasing number of AaaS providers globally.
Automation-as-a-Service Market Overview
Through the automation of numerous tasks and workflows, Automation as a Service (AaaS) is a cloud-based solution that gives businesses the flexibility to optimize and streamline their processes. It uses cutting-edge technology to effectively manage time-consuming and repetitive operations across several departments and functions, including robotic process automation (RPA), machine learning (ML), and artificial intelligence (AI). In addition, it offers a scalable and affordable automation solution that enables businesses to do away with manual interventions, lower error rates, and boost output.
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Automation-as-a-Service Market: Strategic Insights
Market Size Value in US$ 3,354.3 Million in 2019 Market Size Value by US$ 23,397.7 Million by 2027 Growth rate CAGR of 27.5% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Automation-as-a-Service Market: Strategic Insights
| Market Size Value in | US$ 3,354.3 Million in 2019 |
| Market Size Value by | US$ 23,397.7 Million by 2027 |
| Growth rate | CAGR of 27.5% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Automation-as-a-Service Market Drivers and Opportunities
The increasing demand for improved operational effectiveness
The market is expanding as a result of the increasing use of AaaS, which can improve operational effectiveness and provide significant cost savings to a variety of industries. It also makes it simple to automate time-consuming and repetitive processes, which lessens the need for physical labor. This greatly speeds up task completion while simultaneously reducing human mistakes. Consequently, this allows firms to maximize the use of their resources, assign workers to more strategic projects, and eventually increase productivity. Aside from this, the pay-as-you-go or subscription model that AaaS solutions sometimes use avoids the need for significant upfront investments in software or equipment, which provides a positive market outlook. Advanced automation is accessible to companies of all sizes thanks to this economical method.
Growing need for digital instruments and solutions
The market is expanding as a result of the growing need for digital tools and solutions across several industries, which is driving the rising use of AaaS. Various businesses are implementing digital technology and updating their operations in accordance with this. They need products and services that can easily fit into their changing work processes. Aside from that, AaaS is a fantastic fit for this goal because it provides automation features that enhance digital activities. Furthermore, AaaS enables businesses to automate a range of functions, including supply chain management and customer support. This integration supports data-driven decision-making and boosts client experiences in addition to increasing efficiency. Thus, the increasing adoption of IoT is anticipated to present new opportunities for the automation-as-a-service market players during the forecast period.
Automation-as-a-Service Market Report Segmentation Analysis
Key segments that contributed to the derivation of the automation-as-a-service market analysis are component, deployment model, business function, and industry vertical.
- Based on the component, the automation-as-a-service market is segmented into solution and services.
- By deployment model, the market is segmented into on-premise and cloud. The Cloud segment held a larger market share in 2023.
- Based on the business function, the automation-as-a-service market is segmented into sales & marketing, finance & operations, human resources, and information technology.
- Based on the industry vertical, the automation-as-a-service market is segmented into BFSI, IT & telecom, retail, healthcare & life sciences, transportation & logistics, government agencies & defense, manufacturing, industry vertical, and others.
Automation-as-a-Service Market Share Analysis by Geography
The geographic scope of the automation-as-a-service market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America. In terms of revenue, North America accounted for the largest automation-as-a-service market share. The region's market is expanding thanks to the growing use of automation, especially in sectors like healthcare and banking. Aside from this, a favorable market outlook is being provided by the increasing need for businesses to simplify operations and save expenses. Accordingly, the growing demand for data security is fueling the market's expansion in the North American region.
Automation-as-a-Service Market Report Scope
Automation-as-a-Service Market News and Recent Developments
The automation-as-a-service market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for speech and language disorders and strategies:
- In Jan 2024, Automation Anywhere announced a suite of new benchmarking services and a new customer benchmarking database initiative to help companies assess and maximize the business value of process automation deployments. These offerings will help companies see what “best of breed” automation in their industry looks like and guide them towards the highest value automation priorities faster than they could have determined on their own.. (Source: Automation Anywhere, Press Release)
- In March 2022, Unit4, a leader in enterprise cloud applications for people-centric organizations, announced the launch of Smart Automation Services, which will enable its customers to leverage artificial intelligence and context awareness capabilities to improve efficiency and productivity. These services will integrate with Unit4’s next generation enterprise resource planning suite, ERPx, and its virtual assistant, to further streamline business processes. Leveraging these services, ERPx can automate a significant proportion of tasks and enable an optimized, customized, light-touch user experience. (Source: Unit4, Press Release)
Automation-as-a-Service Market Report Coverage and Deliverables
The “Automation-as-a-Service Market Size and Forecast (2023–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component ; Deployment Model ; Business Function ; Industry Vertical
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The global automation-as-a-service market was estimated to be US$ 3.32 billion in 2023 and is expected to grow at a CAGR of 25.9 % during the forecast period 2023 - 2031.
The increasing demand for improved operational effectiveness and the growing need for digital instruments and solutions are the major factors that propel the global automation-as-a-service market.
The integration of advanced technologies to improve efficiency is anticipated to play a significant role in the global automation-as-a-service market in the coming years.
The key players holding majority shares in the global automation-as-a-service market are Accenture PLC, Automation Anyvvhere, Inc., Blue Prism Group plc, HCL Technologies Limited, and Hewlett Packard Enterprise.
The global automation-as-a-service market is expected to reach US$ 20.93 billion by 2031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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