Automation Center Of Excellence Market Share Analysis, Trends, Segmentation, And Forecast To 2033

The Business Research Company recently released a comprehensive report on the Global Automation Center Of Excellence Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The automation center of excellence market size has grown exponentially in recent years. It will grow from $0.41 billion in 2023 to $0.56 billion in 2024 at a compound annual growth rate (CAGR) of 37.2%. The growth in the historic period can be attributed to increasing complexity of business processes, cost pressures, demand for scalability and flexibility, regulatory compliance, data explosion.

The automation center of excellence market size is expected to see exponential growth in the next few years. It will grow to $2.02 billion in 2028 at a compound annual growth rate (CAGR) of 37.5%. The growth in the forecast period can be attributed to increasing data privacy and ethics, increasing regulatory changes, remote workforce management, cybersecurity concerns, demand for intelligent automation, increased focus on hyperautomation. Major trends in the forecast period include ethical ai and responsible automation, robotic process orchestration (RPO), process mining and discovery, low-code/no-code platforms, intelligent process automation (IPA), cloud-based automation.

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Market Drivers and Trends:

Increasing industrial automation is expected to propel the growth of the automation center of excellence market going forward. Industrial automation refers to the use of control systems, machinery, and technologies to automate industrial processes and tasks, typically in manufacturing and production environments. The increasing adoption of industrial automation is driven by a combination of economic, technological, and market forces that compel manufacturers to embrace automation as a strategic imperative. The CoE helps mitigate risks associated with industrial automation initiatives by providing oversight, governance, and risk management processes. This includes ensuring compliance with safety regulations, cybersecurity standards, and industry best practices to minimize the risk of accidents, disruptions, or security breaches. For instance, in October 2022, according to the International Federation of Robotics, a Germany-based non-profit organization, 517,385 new industrial robots will be installed in industries worldwide in 2021. This indicates a 31% growth rate year over year. Therefore, the increasing industrial automation drives the automation center of excellence market.

Major companies operating in the automation center of excellence market are focused on developing new technologies, such as automation cloud robots, to gain a competitive edge in the market. Automation Cloud Robots offer organizations a powerful tool for streamlining operations, increasing efficiency, reducing errors, and freeing up human employees to focus on more value-added tasks. For instance, in May 2022, UiPath Inc., a US-based robotic process automation company, launched Next-Gen UiPath Automation Cloud Robots. This allows customers to deploy unattended robots instantly without IT, resources, or infrastructure and will allow the robots to leverage the benefits of cloud resources for improved performance and functionality.

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Major Key Players of the Market:

Microsoft Corp, International Business Machine Corporation, Tata Consultancy Services (TCS) Ltd, Capgemini SE, Infosys Limited, Micro Focus International plc, Nice Ltd, Wipro Limited, BMC Software Inc, SS&C Technologie Holdings Ltd, Pegasystems Inc, UiPath Inc, Verint Systems Inc, SAP SE, Zensar Technologies Inc, HelpSystems Inc, Blueprint Technologies Inc, Roboyo Group Ltd, Testingxperts Pvt. Ltd, ChoiceWORX Inc, Kiwiqa Services Private Limited, Digital Workforce Services plc, ElectroNeek Robotics Inc, Smartbridge Inc, XenonStack Pvt. Ltd

Automation Center Of Excellence Market 2024 Key Insights:

• The automation center of excellence market size is expected to see exponential growth in the next few years. It will grow to $2.02 billion in 2028 at a compound annual growth rate (CAGR) of 37.5%.
• Industrial Automation Surge Propels Growth of Automation Center of Excellence Market
• Increasing Focus On Next-Generation Automation Cloud Robots To Gain A Competitive Edge In The Market
• North America was the largest region in the automation center of excellence market in 2023

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