Global Automation As A Service Market Growth Accelerates: Strategic Forecast Predicts $21.1 Billion by 2029

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What Will the Automation As A Service Industry Market Size Be by 2025?
The market size of automation as a service has experienced a significant surge over the past few years. It is projected to increase from $7.24 billion in 2024 to $8.72 billion in 2025, reflecting a compound annual growth rate (CAGR) of 20.5%. The historical growth has been driven by factors such as the rising need for making business processes more efficient, the development of robotic process automation (RPA), the shift towards cloud computing, an emphasis on cost cutting and operational efficacy, as well as a demand for scalable and flexible solutions.

What's the Long-Term Growth Forecast for the Automation As A Service Market Size Through 2029?
In the coming years, the market size of automation as a service is set to witness significant expansion. The market is projected to reach $21.1 billion in 2029, boasting a compound annual growth rate (CAGR) of 24.7%. Factors contributing to this growth during the forecast period include the rise in adoption of cloud-based solutions, the expanding need for intelligent automation, focus on hyper automation plans, sector-specific automation solutions, the growth of a remote workforce and the move towards digital transformation. The forecast period is also expected to see key trends such as an amplified demand for process automation, a transition towards cloud-based automation, the emergence of intelligent process automation (IPA), incorporation of AI and machine learning, and the use of automation to ensure business continuity and efficiency.

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What Are the Key Growth Drivers Fueling the Automation As A Service Market Expansion?
The proliferation of automation throughout various business procedures is propelling the expansion of the automation as a service market. The application of technology in business tasks to replace human effort in monotonous jobs is what automation in business operations entails. Companies need to refine their hiring processes, accounts payable, and contract management methods to elevate productivity while minimizing the chance of human errors. Moreover, automation can enhance the overall efficiency of business operations, establish standardized best practices, and result in cost savings. For example, Salesforce Inc., an American cloud software corporation, conducted a worldwide study of 600 CIOs and IT decision-makers in June 2022. The results showed that 91% had seen a surge in automation demand from numerous business industries over the past two years, with research and development (39%), administration/operations (38%), customer service (33%), and marketing (26%). As a result, the escalating requirement for business process automation spurs the growth of the automation as a service market.

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What Are the Key Trends Driving Automation As A Service Market Growth?
Leading industry players in the Automation as a Service (AaaS) market are adopting innovative solutions like digital investment services to outpace competition. Digital investment solutions leverage technology to provide clients straightforward and secure approach to tailor-made portfolios aimed at achieving their financial objectives. This was illustrated in August 2022 when Truist Financial Corporation, a banking corporation based in the US, rolled out two digital investment solutions, namely Truist Invest and Truist Invest Pro. The goal was to offer clients an effortless and safe portal to custom-built investment portfolios that assist in meeting their investment objectives, all driven by Truist's investment acumen. Being a robo-advisor, Truist Invest, and a blend of automated investing with a team of financial advisors, Truist Invest Pro stand as instances of Truist's T3 strategy. This strategy amalgamates the client's desired level of personalized engagement with cutting-edge technology.

How Is the Automation As A Service Market Segmented?
The automation as a servicemarket 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 Companies Are Leading the Charge in Automation As A Service Market Innovation?
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

Which Regions Are Leading the Global Automation As A Service Market in Revenue?
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

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