Automation as a Service (AaaS) is a set of disruptive technologies that provide professional services to industries that are willing to adopt automation in their day-to-day processes. Plethora of software applications and rise in need to automate certain processes with redundant responses is a major factor that drives the growth of the market among major social networking players. For instance, in 2018, IFTTT Inc. adopted AaaS to provide end users with instant responses by automating processes with applications such as Twitter, Facebook, OneDrive, and WordPress. These processes are able to automatically execute various tasks when specific conditions are met and are known as recipes.
Connected devices are proliferating the traction of AaaS solutions as these devices provide easy data access. IoT and smartphones are key connected devices that propel the adoption of automation as a service at a significant rate. Primarily, robotics plays a vital role in optimizing manual work processes, especially in warehouses that require tireless working with heavy loads. However, concerns associated with data security and privacy as automation requires sharing of data at a high pace, which is expected to hamper the growth of the market to a certain extent.
The automation as a service market is segmented on the basis of component, business function, enterprise size, 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 & IT, retail, healthcare, manufacturing, government & defense, energy & utilities, media & entertainment, transportation & logistics, and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the 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.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By Component
By Business Function
By Enterprise Size
By Industry Vertical
By Region
KEY MARKET PLAYERS
Connected devices are proliferating the traction of AaaS solutions as these devices provide easy data access. IoT and smartphones are key connected devices that propel the adoption of automation as a service at a significant rate. Primarily, robotics plays a vital role in optimizing manual work processes, especially in warehouses that require tireless working with heavy loads. However, concerns associated with data security and privacy as automation requires sharing of data at a high pace, which is expected to hamper the growth of the market to a certain extent.
The automation as a service market is segmented on the basis of component, business function, enterprise size, 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 & IT, retail, healthcare, manufacturing, government & defense, energy & utilities, media & entertainment, transportation & logistics, and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the 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.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the market current & future trends to elucidate the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analyses on the global automation as a service market size is provided.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the global automation as a service industry.
- The quantitative analysis of the market from 2018 to 2026 is provided to determine the global automation as a service market potential.
KEY MARKET SEGMENTS
By Component
- Solution
- Services
By Business Function
- Information Technology
- Sales and Marketing
- Operations
- Finance
- Human Resources
- Others
By Enterprise Size
- Large Enterprises
- Small & Medium Enterprises
By Industry Vertical
- BFSI
- Telecom and IT
- Retail
- Healthcare
- Manufacturing
- Government and Defense
- Energy and Utilities
- Media and Entertainment
- Transportation and Logistics
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
KEY MARKET PLAYERS
- 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.
- UiPath
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Global Automation As A Service Market, By Component
Chapter 5: Global Automation As A Service Market, By Business Function
Chapter 6: Global Automation As A Service Market, By Enterprise Size
Chapter 7: Global Automation As A Service Market, By Industry Vertical
Chapter 8: Global Automation As A Service Market, By Region
Chapter 9: Competitive Landscape
Chapter 10: Company Profile
Executive Summary
According to the report titled 'Automation as a Service Market by Component, Business Function, Enterprise Size, and Industry Vertical: Opportunity Analysis and Industry Forecast, 2019-2026', 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.Advent of digitalization and industry 4.0 has propelled the market growth at a significant rate as it provides all-in-one automation suite to businesses for digitized solutions for their operations. In addition, rise in need to convert information into digital form to gain insights that supports strategic decision-making in an organization is further expected to drive the automation as a service market growth.
Favorable government initiatives particularly in developing regions to adopt cloud technology to modernize applications is further expected to boost growth of the global automation as a service market. In addition, momentous growth of cloud migration activities is among some of the major factors expected to boost the growth of the market during the forecast period. On the contrary, concerns associated with data security and privacy coupled with increase in number cyber-attacks on digital data restrain the market growth. Furthermore, rise in adoption of robotics in manufacturing facilities to ease operational and work force cost is a very opportunistic factor for the global market.
By component, the solution segment dominated the overall automation as a service market in 2018, and is further expected to endure traction for automation as a service among organizations during the forecast period. Moreover, the services segment witnessed a significant growth in the market, in terms for CAGR during the forecast period. This is attributed to automation services suite that includes consulting, installation, maintenance, and support services. Service automation concept is gaining traction over solutional packages due to its ability to integrate into almost all domains and functionality tools to have amalgamated interface for all workflows. In addition, AaaS services include automation of tasks, events, processes, and business functions, which helps businesses to achieve multi-dimensional visibility and helps them in streamlining service processes.
The banking, financial services & insurance (BFSI) sector is a pioneer in adopting advance computer & networking systems to reduce enormous, space-concentrated databases and repositories, which leads to the competition for adoption of cloud technology. This has attributed the BFSI sector to dominate the automation as a service market in 2018 and is expected to continue this trend during the forecast period.
Key Findings of the Automation as a Service Market:
By component, the solution segment dominated the automation as a service market trend. However, the services segment is expected to exhibit significant growth during the forecast period in the automation as a service industry.
By business function, the information technology segment dominated the automation as a service market in 2018. However, the sales and marketing segment is expected to exhibit significant growth during the forecast period.
By enterprise size, the large enterprise segment accounted for the highest revenue and automation as a service market share in 2018.
Depending on industry vertical, the BFSI industry generated the highest revenue in 2018. However, the IT and telecommunications sector is expected to witness a considerable growth in the near future.
Region wise, Asia-Pacific is expected to witness significant growth in terms of CAGR in the coming years.
Some of the major players profiled in the automation as a service market analysis 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 operating in this market have witnessed high growth in demand for automation as a service, especially due to industry 4.0 evolution. This study includes market analysis, trends, and future estimations to determine the imminent investment pockets.
Companies Mentioned
- 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.
- UiP
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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