Automation As A Service Market Anticipated To Witness Robust Growth, Surpassing $21.45 Billion By 2029

The Automation As A Service Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Current Automation As A Service Market Size and Its Estimated Growth Rate?
In recent times, the size of the automation as a service market has seen a remarkable increase. Projections show that it is poised to rise from a market worth of $7.24 billion in 2024 to $8.76 billion in 2025, representing a Compound Annual Growth Rate (CAGR) of 21.1%. This surge in the historic period is due to several factors including heightened demand for business processes to be streamlined, the rise of robotic process automation (RPA), a move towards cloud computing, emphasis on cost reduction and operational efficiency, and the preference for solutions that are flexible and scalable.

Expectations are high for an explosive expansion in the automation as a service market size in the upcoming years. The predictions show an impressive increase to $21.45 billion by 2029, at a compound annual growth rate (CAGR) of 25.1%. The predicted growth during this period is credited to factors such as the escalating amount of cloud-based solutions in use, a surge in the demand for intelligent automation, a focus on hyper-automation strategies, the rise in industry-specific automation solutions, a steep increase in remote workforces, and digital transformation. The forecast period is set to observe major trends including a heightened demand for process automation, a transition towards cloud-based automation, the emergence of intelligent process automation (IPA), the incorporation of AI and machine learning, and automation for enhancing business continuity and efficiency.

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How Are Emerging Segments Shaping the Automation As A Service Market Landscape?
The automation as a service market covered in this report is segmented -

1) By Type: Rule-Based Automation, Knowledge-Based Automation
2) By Organization Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
3) By Business Function: Information Technology, Finance, Human Resources, Sales And marketing, Operations
4) By Service: Managed Services, Professional Services

Subsegments:
1) By Rule-Based Automation: Robotic Process Automation (RPA), Workflow Automation, Task Automation,
2) By Knowledge-Based Automation: Cognitive Automation, Machine Learning Automation, AI-Driven Automation Solutions.

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Which Growth Factors Are Influencing Automation As A Service Market Expansion?
The surge in the requirement for automation throughout business operations is fueling the expansion of the automation as a service market. The utilization of technology for routine tasks and functions, instead of human intervention, is how automation is entrenched in business operations. To enhance productivity and reduce the likelihood of errors made by humans, businesses need to refine their hiring, accounts payable, and contract management processes. Moreover, automation can elevate the overall efficiency of business operations, establish standardized best practices, and facilitate cost reduction. For example, in June 2022, Salesforce Inc., an American cloud-based software corporation, carried out an international survey involving 600 CIOs and IT decision makers. The results showed that over the previous 2 years, 91% of those surveyed had noticed a growing demand for automation across various business sectors including research and development (39%), administration/operations (38%), customer service (33%), and marketing (26%). As a result, the escalating requirement for automation within business operations is propelling the growth of the automation as a service market.

Who Are the Dominant Players Across Different Automation As A Service Market Segments?
Major companies operating in the automation as a service market include 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

What Are the Latest Developing Trends in the Automation As A Service Market?
In the race to gain a competitive foothold in the automation as a service (AaaS) market, top-tier companies are resorting to the launch of state-of-the-art solutions like digital investment tools. This tech-powered tool provides clients with hassle-free, secure access to professionally constructed portfolios to meet their financial objectives. For instance, in August 2022, Truist Financial Corporation, a banking company based in the US, rolled out two digital investment tools named Truist Invest and Truist Invest Pro. Designed to offer clients simple and safe access to bespoke portfolios, these solutions enable investors to accomplish their goals leveraging Truist's investment acumen. While Truist Invest is a robo-advisor, Truist Invest Pro is an amalgamation of automated investment supplemented with a team of financial advisors. Reflecting Truist's T3 strategy, these digital investment solutions merge a client's preferred level of personalized interaction with trailblazing technology.

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Which Geographic Regions Are Expected to Dominate the Automation As A Service Market in the Coming Years?
North America was the largest region in the automation as a service market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automation as a service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automation As A Service Market?
2. What is the CAGR expected in the Automation As A Service Market?
3. What Are the Key Innovations Transforming the Automation As A Service Industry?
4. Which Region Is Leading the Automation As A Service Market?

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