Major players in the automation as a service market are Automation Anywhere Inc., Blue Prism Group plc, HCL Technologies Limited, Hewlett Packard Enterprise Company, International Business Machines Corporation, Kofax Inc.
NEW YORK, April 05, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of its report “Automation As A Service Global Market Report 2023” – https://www.reportlinker.com/p06319903/?utm_source= GNW
Microsoft Corporation, NICE Systems Ltd., Pegasystems Inc., UiPath Inc., Happiest Minds, ITyX, Hexaware Technologies Limited, Calligo, AVEVA Group plc, Arista Networks.
The global automation market as a service market will grow from $5.11 billion in 2022 to $6.32 billion in 2023, at a compound annual growth rate (CAGR) of 23.7%. The war between Russia and Ukraine has hampered any chances of the global economy recovering from the COVID-19 pandemic, at least in the short term. The war between the two countries has led to economic sanctions against multiple countries, soaring commodity prices, disrupted supply chains, and caused inflation across goods and services, affecting many markets around the world. Automation as a Service Market is expected to grow to $15.46 billion in 2027 with a CAGR of 25.1%.
The automation as a service market includes revenue earned by entities by providing automation services that enable organizations to automate business processes by recording and analyzing information from existing applications. Market value includes the services sold or provided by the service provider.
Includes only goods and services transacted between entities or sold to end consumers.
Automation as a service refers to the services that vendors offer to companies looking to implement automation across their organization. Automation helps improve speed, agility, and service delivery, reduces manual processes, lowers IT spending, increases productivity across departments, and speeds troubleshooting.
North America was the largest region in the automation as a service market in 2022. Asia Pacific is expected to be the fastest growing region during the forecast period.
Regions covered in the Automation as a Service Market report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of automation as a service are rule-based automation and knowledge-based automation. Rule-based processes have high automation potential.
Examples include searching, cutting and pasting, updating the same data in multiple places, moving data, matching, and simple selection. Organization sizes are small and medium enterprises (SMEs) and large enterprises.
Business functions that use automation as a service are information technology, finance, human resources, sales and marketing, and operations. Services included managed services and professional services.
Banking, Financial Services, Insurance (BFSI), Telecommunications & IT, Retail & Consumer Goods, Healthcare & Life Sciences, Manufacturing, Government & Defense, Energy & Utilities, Media & Entertainment, Transportation & Logistics, and Other Industries , automation service solutions.
The growing demand for automation across business processes is driving the growth of automation as a service market. Automation in business operations is the use of technology to perform repetitive actions or jobs rather than people.
Businesses need to streamline recruitment, accounts payable, and contract management procedures to increase productivity and reduce the risk of human error. In addition, automation increases efficiency across business functions, standardizes best practices, and reduces costs.
According to McKinsey, a U.S.-based management consulting firm, in 2020, 66% of businesses were piloting a solution that automated at least one business process, compared with 57% in 2018. The percentage of companies that have fully automated at least one function increased from 29% in 2018 to 31% in 2020. Therefore, the growing need for automation of business processes will drive the growth of automation as a service market.
Technological advancement is a key trend in the automation as a service market. Companies in the automation as a service market are adopting advanced technology to strengthen their market position.
Visual inspection, machine learning (ML), artificial intelligence (AI), and the use of the cloud are advancements in the Automation as a Service market. Integrating these advanced technologies with Automation as a Service can make a big difference to your business. Because it can deliver game-changing results such as labor reduction, efficiency gains, and cost minimization, as well as top-quality results and innovation in new practices.
For example, in August 2020, American computer networking company Arista Networks launched Network Automation as a Service with CloudVision, which uses AI and ML. , elastic scaling, and continuous network assurance.
Additionally, it provides customers with an integrated and automated deployment, provisioning, and maintenance experience.
In July 2022, India-based business process management company WNS Holdings acquired Vuram for $165 million.
Vuram’s extensive expertise is helping large companies achieve enterprise automation and business transformation aligned with WNS’ short- and long-term strategic goals. An end-to-end business process management solution.
Vuram employs approximately 900 people in various cities across India, the United States, Mexico, Australia, Canada and the United Kingdom.
Countries covered by the Automation as a Service market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, United Kingdom, United States.
Market value is defined as revenue earned by a business through sales, grants, or donations from the sale of goods and/or services within a particular market and territory (in US dollars, unless otherwise specified).
Regional revenue is the amount consumed, the revenue generated by organizations in a specific region within a market regardless of where it was produced. This does not include revenue from resale along the supply chain or as part of other products.
The Automation as a Service Market Research Report is one of a series of new reports providing Automation as a Service market statistics. It includes the automation as a service industry global market size, regional share, competitors with automation as a service market share, automation in detail. As a services market segment, market trends and opportunities, and other data necessary for success in automation as a service industry. This Automation as a Service Market research report offers a complete outlook of everything you need with an in-depth analysis of the industry’s current and future scenarios.
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