Automation-as-a-Service Market-Growth, Trends, and Forecast (2020-2023)

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The Automation-as-a-Service market is expected to register a CAGR of 22.13%, during the forecast period (2018 – 2023). The report profiles the business function type by information technology, finance, human resources, sales and marketing, and operations of the Automation-as-a-Service market for various end users.

The market for Automation-as-a-Service is increasing at a significant rate, due to the increasing adoption of AI and machine learning, rapid deployment of IoT and connected infrastructure, and proliferation of digital automated devices. Automation-as-a-Service solutions aid businesses or enterprises to transform their service delivery and operations process to achieve higher accuracy, cost savings, and high productivity. Additionally, it generates a large amount of valuable information, which helps to make smarter and faster decisions, right from optimizing the current processes and operations to predicting when, where, and how to provide best products and services.

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Major Players: Automation Anywhere, Blue Prism, IBM Corporation, Microsoft Corporation, Uipath, HCL Technologies Limited, Hewlett Packard Enterprise, Kofax Inc., Nice Ltd, and Pegasystems Inc., among others.

Public Cloud is Expected to Experience High Growth in the Market
The public cloud is based on the standard cloud computing platforms these type of services is comparatively inexpensive to the private cloud, as the cloud is shared among multiple users. Companies are now shifting toward public clouds to reduce the cost and overhead expenses. Conversely, security concerns over data are hindering the growth in this segment. However, with continuous development and innovations in the technology, many service providers are offering better security with end-to-end encryption and monitoring services.

North America is Expected to Occupy the Largest Market Share
The North American region is projected to have the largest growth in demand, during the forecast period (2018-2023), due to the early adoption of cloud-based technologies and IoT by the United States. However, benefits, such as improved agility and flexibility as well as being able to deploy new applications, also hold significance.

Additionally, in the United States, companies wherein employees are more than 100 in number are adopting cloud-based applications. It was estimated that nearly 35% of SMBs in the country have already deployed cloud solutions. There have been a series of collaborations, mergers and acquisitions in North America to take the advantage of this opportunity. The major driver behind the investments is the continuous evolution and application of new technologies to utilize volumes that were previously considered non-commercial. With these series of investments, communications, retail, healthcare, and manufacturing applications in North America are expected to witness a significant growth rate, over the forecast period.

Key Developments in the market
Jun 2018: KMD partnered with IBM to help it expand into new markets in a USD 320 million agreement. KMD will benefit from new solutions in security, hybrid cloud, and machine learning capabilities for enterprise clients.
Apr 2018: Automation Anywhere expanded in India, by opening a new facility in Bengaluru. The new center will be focused on serving the increasing demand for Automation Intelligent Digital Workforce Platform.

Reasons to Purchase this Report
Provides latest insights into the Global Automation-as-a-Service Market
Analyzing various perspectives of the market with the help of Porter’s Five Forces Analysis
To understand the dominating technology in the market
The region that is expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)

Customization of the Report
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This post was originally published on Chief Analyst

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