The global automation as a service is growing rapidly. Market growth attributes to the high adoption of automation services across business processes. Besides, the rising utilization of cloud technology within enterprises to enhance business growth drives the Automation as a Service Market. Robotic process automation (RPA) software helps industries automate business processes for lower-cost production, improved compliance, and increased productivity.
Moreover, the augmenting demand for time and cost-effective manufacturing techniques escalate market growth. According to Market Research Future (MRFR), global automation as a service market is forecasted to reach approximately USD 6BN by 2023, growing at a whopping CAGR of 29% throughout the assessment period (2017 – 2023). The spurting rise in semiconductors and consumer electronics market acts as a key driving force.
Additionally, augmenting demand for efficient power management, alongside the proliferation of automation and smart & connected devices, increases automation as a service market size. Advancements in the automation and Internet of Things (IoT) devices foster the growth of the market. Rising demand for higher energy saving and the low operational cost boost the market growth. Besides, the rising penetration of and increased budgets in the defense sector substantiate the market demand.
On the other hand, data security and privacy concerns are major factors predicted to impede market growth. Also, compliance regulations and standards pose challenges to market growth. Nevertheless, substantial R&D investments would support market growth throughout the review period, bringing about novel automation devices and services.
Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/5551
Global Automation as a Service Market – Segmentation
The report is segmented into six dynamics;
By Component : Solutions and Services (deployment & integration and support & training, others).
By Deployment : Cloud-based and On-Premise.
By Organization Size: Small-to-Medium-Sized and Large Enterprises.
By Application : Information Technology (IT), Sales & Marketing, Operations, Finance & Human Resources (HR), and others.
By End-User : BFSI, Telecommunications & IT, Retail & Wholesales, Healthcare & Life Science, Transportation & Logistics, Media & Entertainment, Hospitality, and others.
By Regions : Americas, Europe, APAC, and Rest-of-the-World.
Automation-as-a-Service Market – Geographical Analysis
North America dominates the global automation as a service market. The largest market share attributes to technological advancements and increased adoption of automation across industries. The rising adoption of automation as a service in the telecommunications & IT sector creates substantial market demand.
The increase in the adoption of automation and cloud technologies among enterprises pushes the regional market's growth. Moreover, the presence of notable players and well-established IT infrastructure increases market size, substantiating automation technology adoption across numerous industries.
Europe stands second in the global automation as a service market. The market is driven by the increasing adoption of automation and smart devices across the industrial sector. Additionally, the proliferation of smart & connected devices and the Internet acts as a key driving force for the growth of the regional market.
Furthermore, spurting growth in consumer electronics, automotive, aerospace & defense, and telecommunication industries stimulates the market growth in the region. Simultaneously, the regulatory safety & security mandates in sectors, alongside a large untapped consumer base, provide impetus to the regional market growth.
The automation as a service market in the Asia Pacific region is witnessing a rapid expansion. Factors such as the wide adoption of connected devices and the presence of sensor manufacturers substantiate automation as a service market size. Besides, the presence of small and medium enterprises adopting cloud-based applications increasingly and government initiatives for the development of smart cities foster regional market growth. India, South Korea, China, and Japan are the leading markets in the region.
Global Automation as a Service Market – Competitive Analysis
Highly competitive, the automation-as-a-service market appears fragmented due to the presence of several well-established players. To gain a larger competitive share, industry players adopt strategies such as mergers & acquisitions, collaborations, and product/technology development. Substantial investments are transpired to develop products and expand global footprints. Most players adopt organic business strategies, whereas tier I & II companies accentuate the inorganic business strategies to achieve their goals.
Players leading in the market are Blue Prism Group Plc. (UK), Automation Anywhere, Inc. (US), International Business Machines Corporation (US), UiPath (US), Microsoft Corporation (US), Kofax Inc. (US), Hewlett Packard Enterprise Development LP (US), NICE Ltd. (Israel), Pegasystems Inc.(US), and HCL Technologies Limited (India), among others.
Industry/ Innovation/ Related News
September 29, 2020 ----- VMware, Inc. (the US), a publicly-traded software company, announced the acquisition of SaltStack, the company behind the popular open-source IT configuration automation platform Salt, to expand into IT automation. VMware plans to offer SaltStack as part of its vRealize software suite for hybrid cloud management while providing it as a stand-alone product.
The acquisition would expand VMware's capabilities beyond its traditional IT infrastructure management and into the application layer. VMware also rolled out a Software-as-a-Service version of vRealize, called vRealize Cloud Universal, a cloud management subscription offering, combining on-premises and SaaS into one license. VMware would continue investing heavily in Salt, a Python-based, open-source software for event-driven IT automation, remote task execution, and configuration management.
Browse Complete Report @ https://www.marketresearchfuture.com/reports/automation-as-a-service-market-5551
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.