Automation as a Service Market 2020 to Witness a Pronounce Growth During 2019-2026 | Top Manufacturers: HCL Tech., Microsoft, UiPath, IBM, Pegasystems Inc.
According to the report, the global automation as a service industry was pegged at $2.09 billion in 2018 and is projected to reach $12.37 billion by 2026, growing at a CAGR of 25.3% from 2019 to 2026.
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Ease of doing business, reduction in workforce cost, and adoption of the services technologies have boosted the growth of the global automation as a service market. However, data security and privacy and constantly changing the automation technology landscape hamper the market growth. On the contrary, growing adoption among SMEs is expected to create lucrative opportunities in the near future.
The healthcare segment is anticipated to register the fastest CAGR of 29.0% during the forecast period, owing to high adoption of analytics, advent of industry 4.0, and rise in need for business agility in healthcare industries. However, the BFSI segment dominated the global automation as a service market in 2018, contributing to nearly one-fifth of the market. This is due to increase in adoption of technological solutions for diverse applications such as data analytics, fraud detection, and others.
The services segment is expected to register the fastest CAGR of 26.8% during the forecast period, owing to rise in need for automation in an almost entire business process. However, the solution segment held the lion's share in 2018, accounting for more than two-thirds of the global automation as a service market, as automation solutions are cheaper and fastest to deploy.
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The global automation as a service market across North America is expected to hold the largest share in 2018, contributing to around two-fifths of the market. This is owing to its compatible infrastructure and need to stay ahead in the global market. However, the market across the Asia-Pacific region is expected to manifest the fastest CAGR of 29.0% during the forecast period, owing to the high penetrations SME's and demand for high business agility in the region.
Key Market Players Profiled In The Report:
• Automation Anywhere, Inc.
• HCL Technologies Limited
• Blue Prism Limited
• International Business Machines Corporation
• Hewlett Packard Enterprise Company
• Microsoft Corporation
• Kofax Inc.
• Pegasystems Inc.
• NICE Robotic Automation
Key Findings of the Automation as a Service Market:
○ 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.
○ Region wise, Asia-Pacific is expected to witness significant growth in terms of CAGR in the coming years.
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Key questions answered in Automation as a Service Market research study:
♦ What is the market growth rate of Automation as a Service Market from 2020-2027?
♦ What will be the global market size of the market from 2020 to 2027?
♦ Who are the leading global players in the Automation as a Service Market?
♦ What are the current trends and predicted trends?
♦ What are the challenges faced in the Automation as a Service Market?
♦ Which will be the niches at which players profiling with thorough plans, financials, and also recent advancements should set a presence?
♦ Which will be the anticipated growth rates for your own Automation as a Service Market economy altogether and also for every segment inside?
♦ Which will be the Automation as a Service Market application and types and forecast accompanied closely by producers?
♦ What are the conclusions of the Automation as a Service Market report?
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