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Automation As A Service Global Market Report 2024 To 2033 | Automation Anywhere Inc., Blue Prism Group plc, HCL Technologies Limited
Automation As A Service Market
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According to The Business Research Company's, The automation as a service market size has grown exponentially in recent years. It will grow from $6.04 billion in 2023 to $7.38 billion in 2024 at a compound annual growth rate (CAGR) of 22.2%. The growth in the historic period can be attributed to increased demand for streamlining business processes, evolution of robotic process automation (rpa), shift towards cloud computing, focus on cost reduction and operational efficiency, desire for scalable and flexible solutions..
The automation as a service market size is expected to see exponential growth in the next few years. It will grow to $16.99 billion in 2028 at a compound annual growth rate (CAGR) of 23.2%. The growth in the forecast period can be attributed to increasing adoption of cloud-based solutions, growing demand for intelligent automation, emphasis on hyperautomation strategies, industry-specific automation solutions, rise in remote workforce and digital transformation. Major trends in the forecast period include increased demand for process automation, shift towards cloud-based automation, rise of intelligent process automation (ipa), integration of ai and machine learning, automation for business continuity and efficiency..
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Market Drivers and Trends:
The increasing 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 carry out repetitive actions and jobs rather than people. Businesses must streamline their recruiting, accounts payable, and contract management procedures to increase productivity and decrease the risk of human mistakes. Additionally, automation can increase overall business function efficiency, standardize best practices, and cost savings. For instance, in June 2022, Salesforce Inc., a US-based cloud-based software company, conducted a global survey of 600 CIOs and IT decision makers, revealing that in the past 2 years, 91% of respondents have observed an increased demand for automation from various business sectors, with research and development (39%), administrative/operations (38%), customer service (33%), and marketing (26%). Therefore, the increasing need for automation in business processes drives the automation as a service market growth.
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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Major Key Players of the Market:
Automation Anywhere Inc., Blue Prism Group plc, HCL Technologies Limited, Hewlett Packard Enterprise Company, International Business Machines Corporation, Microsoft Corporation, UiPath, Pegasystems Inc., Kofax Inc., Nice Ltd., Accenture* plc, Capgemini SE, Cognizant, Infosys Limited, Tata Consultancy Services Limited, Wipro Limited, Tech Mahindra Limited, Genpact Limited, DXC Technology Company, Atos SE, Deloitte Touche Tohmatsu Limited, Ernst & Young Global Limited, KPMG International Limited, ScienceSoft USA Corporation, PixelCrayons, CONTUS TECH, DevCom, Algoworks, ELEKS Software, WorkFusion, EdgeVerve Systems
Automation As A Service Market 2024 Key Insights:
• The automation as a service market size is expected to see exponential growth in the next few years. It will grow to $16.99 billion in 2028 at a compound annual growth rate (CAGR) of 23.2%.
• Increasing Demand For Automation Across Businesses Processes
• Innovative Digital Investment Solutions Elevate Competition In Automation As A Service Market
• North America was the largest region in the automation as a service market in 2023
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