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New York, United States – May 19, 2020 /MarketersMedia/ —
The Global Automation-as-a-Service (AaaS) Market is forecast to reach USD 15.47 Billion by 2026, according to a new report by Reports and Data. Automation-as-a-Service (AaaS) is the adaptive automated services offered by the technology companies, to various industry verticals in order to automate their process workflow and increase their productivity by a substantial margin. The global automation-as-a-service (AaaS) market is growing predominantly as all the industries are slowly moving towards adapting the minimal amount of human efforts. Artificial intelligence and cognitive automation is the advanced mode of automation already started implementing in the technological conglomerates. More than 88% of the large enterprises have integrated automation in their process inventory, and about 62% of the SMEs will have executed automation systems for their internal operations by the end of the forecast period.
APAC is forecasted to achieve the fastest growth of about 34.9% in the period 2019 – 2026, due to an increase in the adoption of the automation-as-a-service (AaaS) in both the SMEs and large enterprises across all the industry verticals in the countries like China, Singapore, and India. North America holds the highest market share of about 37.6% in 2018 because of the prodigious rate of implementation of the automation services, especially in the conglomerates.
This report covers the recent COVID-19 incidence and its impact on Automation-as-a-Service (AaaS) Market. The pandemic has widely affected the economic scenario. This study assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.
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Key participants include Microsoft Corporation, Automation Anywhere, HCL Technologies, Kofax Inc., Accenture plc, Pegasystems, IBM Corporation, Hewlett Packard Enterprise, Blue Prism, and Uipath.
For the purpose of this report, Reports and Data have segmented the global automation-as-a-service (AaaS) market on the basis of the deployment type, business application, component, organization size, end-use industries, and region:
Deployment Type Outlook (Revenue: USD Billion; 2016-2026)
• On-Premise
• Cloud
Business Application Outlook (Revenue: USD Billion; 2016-2026)
• Human Resourcing
• Sales & Marketing
• Finance Management
• IT & Logistics
• Operation Management
Component Outlook (Revenue: USD Billion; 2016-2026)
• Robotic Process Automation (RPA)
• Artificial Intelligence (AI) & Cognitive Automation
Organization Size Outlook (Revenue: USD Billion; 2016-2026)
• Large Enterprises
• SMEs
End-Use Industries Outlook (Revenue: USD Billion; 2016-2026)
• BFSI
• IT & Telecommunication
• Retail & E-commerce
• Government & Public Sectors
• Transportation & Logistics
• Media & Entertainment
• Manufacturing Industries
• Others
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Regional Outlook (Revenue: USD Billion; 2016-2026)
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa
Further key findings from the report suggest
• IT & telecommunication sub-segment had a market share of 16.1% in 2018 and is expected to grow at a CAGR of 31.0% during the forecast period. Automation services through robotic process automation (RPA) or advanced automation with artificial intelligence (AI) & cognitive automation provides telecommunication companies with operational efficiency by streamlining the overall operations and other front-end business processes. Automation Anywhere provides automation for the IT & Telecommunication industries with RPA platform and advanced IQ Bot with AI & cognitive automation, which understands the specific automation requirements in process.
• Cloud sub-segment is expected to reach 38.5% of market share by 2026, having grown with a CAGR of 32.1% throughout the forecast period. Cloud automation refers to the cloud-based tools, an organization uses to reduce manual efforts associated with provisioning and managing workloads.
• Automation in human resourcing provides enhanced efficiency of the HR department by freeing the employees from the extensive manual tasks and allows them to focus on highly complex tasks in decision making and to strategize. The segment had a market revenue of USD 0.29 Billion in 2018. The CAGR is calculated to be 30.2% during the forecast period.
• Europe would reach a market share of 26.7% by 2026, having grown at a CAGR of 27.7% in the forecast period. United Kingdom and Ireland have some of the most valuable players in this region.
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