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Service Delivery Automation Market Trends 2024: Driving Operational Efficiency
Service Delivery Automation Market Segments
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According to The Business Research Company's, The service delivery automation market size has grown exponentially in recent years. It will grow from $7.33 billion in 2023 to $9.45 billion in 2024 at a compound annual growth rate (CAGR) of 28.9%. The growth in the historic period can be attributed to cost reduction and operational efficiency, growing complexity of it environments, need for faster service delivery, expansion of business process outsourcing (bpo), adoption of robotic process automation (rpa).
The service delivery automation market size is expected to see exponential growth in the next few years. It will grow to $25.11 billion in 2028 at a compound annual growth rate (CAGR) of 27.7%. The growth in the forecast period can be attributed to emphasis on end-to-end process automation, growth in cloud-based service delivery models, increased adoption of intelligent virtual agents, focus on customer experience and personalization. Major trends in the forecast period include hyperautomation for comprehensive automation solutions, integration of machine learning for predictive service delivery, adoption of chatbots and virtual assistants, shift towards self-service and autonomous operations, collaboration between humans and automated systems in service delivery.
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Market Drivers and Trends:
The growing usage of automation solutions is expected to propel the growth of the service delivery automation market going forward. Automation enables a digitally enabled firm to alter its service delivery and operations, increasing cost savings, accuracy, and productivity scalability. The growing functional benefits of automation solutions for business process automation across various end-user industries such as technology, finance, and others are expected to drive growth in the service delivery automation market. For instance, according to Imaginovation, a US-based premium custom application development company, in 2022, 67% of companies across the world use business process automation solutions that improve end-to-end visibility across different systems, and 24% of companies have started implementing low-code process automation systems and 29% of companies plan to implement low-code process automation software shortly. Therefore, the growing usage of automation solutions is driving the service delivery automation 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:
International Business Machines Corporation, Xerox Corporation, Blue Prism Group PLC, Automation Anywhere Inc., CA Technologies, Celaton Ltd, Exilant Technologies Pvt. Ltd, IPsoft Inc, Openspan Pvt. Ltd, Sutherland Global Services Inc, Arago Technology Ltd, Accentur*e Inc., UiPath SRL, Softomotive Solutions Ltd., Thoughtonomy Ltd., Kofax Inc., Neptune Intelligence Computer Engineering, Pegasystems Inc., Redwood Software Inc., WorkFusion Inc., EdgeVerve Systems Limited, HCL Technologies Limited, Kryon Systems Ltd., AutomationEdge, HelpSystems LLC, KPMG International Cooperative, Wipro Limited, Infosys Limited, Tata Consultancy Services Limited, Cognizant Technology Solutions Corporation, Capgemini SE
Service Delivery Automation Market 2024 Key Insights:
• The service delivery automation market size is expected to see exponential growth in the next few years. It will grow to $25.11 billion in 2028 at a compound annual growth rate (CAGR) of 27.7%.
• Automation Solutions Drive The Future Of Service Delivery Automation Market
• Finastra And Uipath Join Forces To Redefine Banking With Automation
• North America was the largest region in the service delivery automation market in 2023
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