HOME Top Market Reports Automation-as-a-Service Market by Component (Solution and Services), Type (Rule-Based and Knowledge-Based), Business Function, Deployment Model (Public Cloud, Private Cloud, and Hybrid Cloud), Organization Size, Industry, and Region - Global Forecast to 2022

Automation-as-a-Service Market by Component (Solution and Services), Type (Rule-Based and Knowledge-Based), Business Function, Deployment Model (Public Cloud, Private Cloud, and Hybrid Cloud), Organization Size, Industry, and Region - Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: January 2018
Report Code: TC 5856

 

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Automation-as-a-service enables organizations to mechanize the business processes by capturing and interpreting data from existing applications. It enables organizations to shift from slow manual processes to reliable, fast automation across the organization in a matter of hours or even minutes. The automation-as-a-service market size is expected to grow from USD 1.56 Billion in 2016 to USD 6.23 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 28.1%. 2016 is considered to be the base year, while the forecast period is 2017–2022.

Following are the objectives of the report:

  • To describe and forecast the automation-as-a-service market on the basis of components (solution and services), business functions, types, deployment models, organization sizes, industries, and regions
  • To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To analyze the subsegments with respect to individual growth trends, prospects, and contribution to the total market
  • To analyze the opportunities in the market for stakeholders and provide the details of a competitive landscape for the major players
  • To forecast the revenue of market segments with respect to all the major regions, namely, North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA)
  • To profile the key players and comprehensively analyze their recent developments and positioning
  • To analyze competitive developments, such as partnerships, collaborations, agreements, acquisitions, new product launches, product upgradations, and R&D activities in the market

The research methodology used to estimate and forecast the automation-as-a-service market began with capturing the data on key vendor’s revenues through secondary research sources, such as companies’ websites, Factiva, and Hoovers. The other secondary sources included annual reports, press releases, and investor presentations of companies; white papers and certified publications; and articles from recognized authors, directories, and databases. The vendor offerings were also taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall market size of the global automation-as-a-service market from the revenue of the key players in the market. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with the key people, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all the segments and subsegments. The breakdown of profiles of the primary is depicted in the below figure.

Automation-as-a-Service Market

To know about the assumptions considered for the study, download the pdf brochure

The automation-as-a-service ecosystem comprises vendors, such as Automation Anywhere, Inc. (US), Blue Prism Group plc (UK), International Business Machines Corporation (US), Microsoft Corporation (US), UiPath (US), HCL Technologies Limited (India), Hewlett Packard Enterprise Development LP (US), Kofax Inc. (US), NICE Ltd. (Israel), and Pegasystems Inc.(US). The other stakeholders in the automation-as-a-service market include automation service providers, consulting service providers, Information Technology (IT) service providers, resellers, enterprise users, and technology providers.

The target audience of the automation-as-a-service market report are:

  • Solution vendors
  • Original Equipment Manufacturers (OEMs)
  • System integrators
  • Advisory firms
  • National regulatory authorities
  • Venture capitalists
  • Private equity groups
  • Investment houses
  • Equity research firms

The study answers several questions for the stakeholders, primarily, which market segments to focus in the next 2-5 years for prioritizing the efforts and investments.

Scope of the Report

The research report categorizes the automation-as-a-service market to forecast the revenues and analyze the trends in each of the following subsegments:

By Component

  • Solution
  • Services

By Service

  • Managed Services
  • Professional Services
    • Consulting Services
    • Deployment and Integration
    • Support and Training

By Business Function

  • Information Technology (IT)
  • Sales and Marketing
  • Operations
  • Finance
  • Human Resources (HR)

By Deployment Model

  • Public Cloud
  • Private Cloud
  • Hybrid Cloud

By Type

  • Rule-based Automation
  • Knowledge-based Automation

By Organization Size

  • Small and Medium-sized Enterprises (SMEs)
  • Large Enterprises

By Industry

  • Banking, Financial Services, and Insurance (BFSI)
  • Telecom and IT
  • Retail and Consumer goods
  • Healthcare and Life Sciences
  • Manufacturing
  • Government and Defense
  • Energy and Utilities
  • Media and Entertainment
  • Transportation and Logistics
  • Others (travel and hospitality, and education)

By Region

  • North America
  • Europe
  • APAC
  • Latin America
  • MEA

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Geographic Analysis

  • Further breakdown of the North American automation-as-a-service market
  • Further breakdown of the European market
  • Further breakdown of the APAC market
  • Further breakdown of the MEA market
  • Further breakdown of the Latin American market

Company Information

  • Detailed analysis and profiling of additional market players

Table of Contents

1 Introduction (Page No. - 14)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
    1.4 Years Considered for the Study
    1.5 Currency
    1.6 Stakeholders

2 Research Methodology (Page No. - 18)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Breakdown of Primaries
                    2.1.2.2 Key Industry Insights
    2.2 Market Size Estimation
    2.3 Research Assumptions and Limitations
           2.3.1 Research Assumptions
           2.3.2 Limitations

3 Executive Summary (Page No. - 26)

4 Premium Insights (Page No. - 34)
    4.1 Attractive Market Opportunities in the Automation-as-a-Service Market
    4.2 Automation-as-a-Service Market: Market Share Across Various Regions
    4.3 Market By Industry and Region
    4.4 Market Professional Services, By Region

5 Market Overview and Industry Trends (Page No. - 38)
    5.1 Market Overview
           5.1.1 Introduction
           5.1.2 Market Dynamics
                    5.1.2.1 Drivers
                               5.1.2.1.1 Increasing Demand for Automation Across Business Processes
                               5.1.2.1.2 Increasing Adoption of the Cloud Technology
                    5.1.2.2 Restraints
                               5.1.2.2.1 Maintaining Data Security and Privacy
                    5.1.2.3 Opportunities
                               5.1.2.3.1 Higher Adoption Among the Smes
                               5.1.2.3.2 The Ability to Generate A Positive Roi
                    5.1.2.4 Challenges
                               5.1.2.4.1 Lack of Awareness
                               5.1.2.4.2 Lack of Skilled Workforce
    5.2 Industry Trends
           5.2.1 Automation-as-a-Service: Top Trends
                    5.2.1.1 Automation and AI
                    5.2.1.2 Automation and IoT
                    5.2.1.3 Automation and Cybersecurity
                    5.2.1.4 Automation and Chatbots Devops
           5.2.2 Automation-as-a-Service Market: Use Cases
                    5.2.2.1 Introduction
                    5.2.2.2 Use Case 1: IT Service Desk Automation From Ipsoft
                    5.2.2.3 Use Case 2: Test Automation From Applitools
                    5.2.2.4 Use Case 3: Data Reconciliation and Reporting in Retail From Workfusion
                    5.2.2.5 Use Case 4: Workflow and Process Automation in Legal Operations From Thinksmart

6 Automation-as-a-Service Market, By Component (Page No. - 51)
    6.1 Introduction
    6.2 Solution
    6.3 Services
           6.3.1 Professional Services
                    6.3.1.1 Deployment and Integration
                    6.3.1.2 Support and Training
                    6.3.1.3 Consulting Services
           6.3.2 Managed Services

7 Market By Type (Page No. - 60)
    7.1 Introduction
    7.2 Rule-Based Automation
    7.3 Knowledge-Based Automation

8 Automation-as-a-Service Market, By Business Function (Page No. - 64)
    8.1 Introduction
    8.2 Information Technology
    8.3 Finance
    8.4 Human Resources
    8.5 Sales and Marketing
    8.6 Operations

9 Market By Deployment Model (Page No. - 70)
    9.1 Introduction
    9.2 Public Cloud
    9.3 Private Cloud
    9.4 Hybrid Cloud

10 Automation-as-a-Service Market, By Organization Size (Page No. - 75)
     10.1 Introduction
     10.2 Large Enterprises
     10.3 Small and Medium-Sized Enterprises

11 Market By Industry (Page No. - 79)
     11.1 Introduction
     11.2 Banking, Financial Services, and Insurance
     11.3 Telecom and IT
     11.4 Retail and Consumer Goods
     11.5 Healthcare and Life Sciences
     11.6 Manufacturing
     11.7 Government and Defense
     11.8 Energy and Utilities
     11.9 Transportation and Logistics
     11.10 Media and Entertainment
     11.11 Others

12 Automation-as-a-Service Market, By Region (Page No. - 88)
     12.1 Introduction
     12.2 North America
             12.2.1 By Component
             12.2.2 By Service
             12.2.3 By Professional Service
             12.2.4 By Type
             12.2.5 By Business Function
             12.2.6 By Deployment Model
             12.2.7 By Organization Size
             12.2.8 By Industry
     12.3 Europe
             12.3.1 By Component
             12.3.2 By Service
             12.3.3 By Professional Service
             12.3.4 By Type
             12.3.5 By Business Function
             12.3.6 By Deployment Model
             12.3.7 By Organization Size
             12.3.8 By Industry
     12.4 Asia Pacific
             12.4.1 By Component
             12.4.2 By Service
             12.4.3 By Professional Service
             12.4.4 By Type
             12.4.5 By Business Function
             12.4.6 By Deployment Model
             12.4.7 By Organization Size
             12.4.8 By Industry
     12.5 Latin America
             12.5.1 By Component
             12.5.2 By Service
             12.5.3 By Professional Service
             12.5.4 By Type
             12.5.5 By Business Function
             12.5.6 By Deployment Model
             12.5.7 By Organization Size
             12.5.8 By Industry
     12.6 Middle East and Africa
             12.6.1 By Component
             12.6.2 By Service
             12.6.3 By Professional Service
             12.6.4 By Type
             12.6.5 By Business Function
             12.6.6 By Deployment Model
             12.6.7 By Organization Size
             12.6.8 By Industry

13 Competitive Landscape (Page No. - 113)
     13.1 Overview
     13.2 Competitive Scenerio
             13.2.1 New Product Launches and Product Upgradations
             13.2.2 Partnerships, Collaborations, and Agreements
             13.2.3 Acquisitions
             13.2.4 Business Expansions
     13.3 Automation-as-a-Service Market: Prominent Players

14 Company Profiles (Page No. - 141)
     14.1 Automation Anywhere
             14.1.1 Business Overview
             14.1.2 Solutions and Services Offered
             14.1.3 Recent Developments
             14.1.4 SWOT Analysis
             14.1.5 MnM View
     14.2 Blue Prism
             14.2.1 Business Overview
             14.2.2 Solutions and Services Offered
             14.2.3 Recent Developments
             14.2.4 SWOT Analysis
             14.2.5 MnM View
     14.3 IBM
             14.3.1 Business Overview
             14.3.2 Solutions and Services Offered
             14.3.3 Recent Developments
             14.3.4 SWOT Analysis
             14.3.5 MnM View
     14.4 Microsoft
             14.4.1 Business Overview
             14.4.2 Solutions and Services Offered
             14.4.3 Recent Developments
             14.4.4 SWOT Analysis
             14.4.5 MnM View
     14.5 Uipath
             14.5.1 Business Overview
             14.5.2 Solutions and Services Offered
             14.5.3 Recent Developments
             14.5.4 SWOT Analysis
             14.5.5 MnM View
     14.6 HCL Technologies
             14.6.1 Business Overview
             14.6.2 Solutions and Services Offered
             14.6.3 Recent Developments
             14.6.4 MnM View
     14.7 HPE
             14.7.1 Business Overview
             14.7.2 Solutions Offered
             14.7.3 Recent Developments
             14.7.4 MnM View
     14.8 Kofax
             14.8.1 Business Overview
             14.8.2 Solutions and Services Offered
             14.8.3 Recent Developments
             14.8.4 MnM View
     14.9 Nice Ltd.
             14.9.1 Business Overview
             14.9.2 Solutions and Services Offered
             14.9.3 Recent Developments
             14.9.4 MnM View
     14.1 Pegasystems
             14.10.1 Business Overview
             14.10.2 Solutions and Services Offered
             14.10.3 Recent Developments
             14.10.4 MnM View

15 Key Innovators (Page No. - 177)
     15.1 Kryon Systems
     15.2 Softomotive
     15.3 Workfusion

16 Appendix (Page No. - 181)
     16.1 Insights of Industry Experts
     16.2 Discussion Guide
     16.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     16.4 Introducing RT: Real-Time Market Intelligence
     16.5 Available Customization
     16.6 Related Reports


List of Tables (84 Tables)

Table 1 United States Dollar Exchange Rate, 2014–2016
Table 2 Automation-as-a-Service Market Size, By Component, 2015–2022 (USD Million)
Table 3 Solution: Market Size, By Region, 2015–2022(USD Million)
Table 4 Services: Market Size, By Type, 2015–2022 (USD Million)
Table 5 Services: Market Size, By Region, 2015–2022 (USD Million)
Table 6 Professional Services Market Size, By Type, 2015–2022 (USD Million)
Table 7 Professional Services Market Size, By Region, 2015–2022 (USD Million)
Table 8 Deployment and Integration Market Size, By Region, 2015–2022 (USD Million)
Table 9 Support and Training Market Size, By Region, 2015–2022 (USD Million)
Table 10 Consulting Services Market Size, By Region, 2015–2022 (USD Million)
Table 11 Managed Services Market Size, By Region, 2015–2022 (USD Million)
Table 12 Automation-as-a-Service Market Size, By Type, 2015–2022 (USD Million)
Table 13 Rule-Based Automation: Market Size, By Region, 2015–2022 (USD Million)
Table 14 Knowledge-Based Automation: Market Size, By Region, 2015–2022 (USD Million)
Table 15 Automation-as-a-Service Market Size, By Business Function, 2015–2022 (USD Million)
Table 16 Information Technology: Market Size, By Region, 2015–2022 (USD Million)
Table 17 Finance: Market Size, By Region, 2015–2022 (USD Million)
Table 18 Human Resources: Market Size, By Region, 2015–2022 (USD Million)
Table 19 Sales and Marketing: Market Size, By Region, 2015–2022 (USD Million)
Table 20 Operations: Market Size, By Region, 2015–2022 (USD Million)
Table 21 Automation-as-a-Service Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 22 Public Cloud: Market Size, By Region, 2015–2022 (USD Million)
Table 23 Private Cloud: Market Size, By Region, 2015–2022 (USD Million)
Table 24 Hybrid Cloud: Market Size, By Region, 2015–2022 (USD Million)
Table 25 Automation-as-a-Service Market Size, By Organization Size, 2015–2022 (USD Million)
Table 26 Large Enterprises: Market Size, By Region, 2015–2022 (USD Million)
Table 27 Small and Medium-Sized Enterprises: Market Size, By Region, 2015–2022 (USD Million)
Table 28 Automation-as-a-Service Market Size, By Industry, 2015–2022 (USD Million)
Table 29 Banking, Financial Services, and Insurance: Market Size, By Region, 2015–2022 (USD Million)
Table 30 Telecom and IT: Market Size, By Region, 2015–2022 (USD Million)
Table 31 Retail and Consumer Goods: Market Size, By Region, 2015–2022 (USD Million)
Table 32 Healthcare and Life Sciences: Market Size, By Region, 2015–2022 (USD Million)
Table 33 Manufacturing: Market Size, By Region, 2015–2022 (USD Million)
Table 34 Government and Defense: Market Size, By Region, 2015–2022 (USD Million)
Table 35 Energy and Utilities: Market Size, By Region, 2015–2022 (USD Million)
Table 36 Transportation and Logistics: Market Size, By Region, 2015–2022 (USD Million)
Table 37 Media and Entertainment: Market Size, By Region, 2015–2022 (USD Million)
Table 38 Others: Market Size, By Region, 2015–2022 (USD Million)
Table 39 Automation-as-a-Service Market Size, By Region, 2015–2022 (USD Million)
Table 40 North America: Market Size, By Component, 2015–2022 (USD Million)
Table 41 North America: Market Size, By Service, 2015–2022 (USD Million)
Table 42 North America: Market Size, By Professional Service, 2015–2022 (USD Million)
Table 43 North America: Market Size, By Type, 2015–2022 (USD Million)
Table 44 North America: Market Size, By Business Function, 2015–2022 (USD Million)
Table 45 North America: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 46 North America: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 47 North America: Market Size, By Industry, 2015–2022 (USD Million)
Table 48 Europe: Automation-as-a-Service Market Size, By Component, 2015–2022 (USD Million)
Table 49 Europe: Market Size, By Service, 2015–2022 (USD Million)
Table 50 Europe: Market Size, By Professional Service, 2015–2022 (USD Million)
Table 51 Europe: Market Size, By Type, 2015–2022 (USD Million)
Table 52 Europe: Market Size, By Business Function, 2015–2022 (USD Million)
Table 53 Europe: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 54 Europe: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 55 Europe: Market Size, By Industry, 2015–2022 (USD Million)
Table 56 Asia Pacific: Automation-as-a-Service Market Size, By Component, 2015–2022 (USD Million)
Table 57 Asia Pacific: Market Size, By Service, 2015–2022 (USD Million)
Table 58 Asia Pacific: Market Size, By Professional Service, 2015–2022 (USD Million)
Table 59 Asia Pacific: Market Size, By Type, 2015–2022 (USD Million)
Table 60 Asia Pacific: Market Size, By Business Function, 2015–2022 (USD Million)
Table 61 Asia Pacific: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 62 Asia Pacific: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 63 Asia Pacific: Market Size, By Industry, 2015–2022 (USD Million)
Table 64 Latin America: Automation-as-a-Service Market Size, By Component, 2015–2022 (USD Million)
Table 65 Latin America: Market Size, By Service, 2015–2022 (USD Million)
Table 66 Latin America: Market Size, By Professional Service, 2015–2022 (USD Million)
Table 67 Latin America: Market Size, By Type, 2015–2022 (USD Million)
Table 68 Latin America: Market Size, By Business Function, 2015–2022 (USD Million)
Table 69 Latin America: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 70 Latin America: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 71 Latin America: Market Size, By Industry, 2015–2022 (USD Million)
Table 72 Middle East and Africa: Automation-as-a-Service Market Size, By Component, 2015–2022 (USD Million)
Table 73 Middle East and Africa: Market Size, By Service, 2015–2022 (USD Million)
Table 74 Middle East and Africa: Market Size, By Professional Service, 2015–2022 (USD Million)
Table 75 Middle East and Africa: Market Size, By Type, 2015–2022 (USD Million)
Table 76 Middle East and Africa: Market Size, By Business Function, 2015–2022 (USD Million)
Table 77 Middle East and Africa: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 79 Middle East and Africa: Market Size, By Industry, 2015–2022 (USD Million)
Table 80 New Product Launches and Product Upgradations, 2017
Table 81 Partnerships, Collaborations, and Agreements, 2017
Table 82 Acquisitions, 2016–2017
Table 83 Business Expansions, 2017
Table 84 Prominent Players in the Automation-as-a-Service Market


List of Figures (45 Figures)

Figure 1 Automation-as-a-Service Market: Market Segmentation
Figure 2 Market Research Design
Figure 3 Data Triangulation
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Automation-as-a-Service Market: Assumptions
Figure 7 Market is Expected to Witness Substantial Growth During the Forecast Period
Figure 8 Market By Component (2017 vs 2022)
Figure 9 Market By Service (2017)
Figure 10 Market By Professional Service (2017)
Figure 11 Market By Business Function (2017)
Figure 12 Market By Type (2017)
Figure 13 Market By Deployment Model (2017)
Figure 14 Market By Organization Size (2017)
Figure 15 Market By Industry (2017 vs 2022)
Figure 16 Increasing Need for Automation Across Industries is Expected to Be One of the Major Factors Contributing to the Growth of the Automation-as-a-Service Market
Figure 17 North America is Estimated to Have the Largest Market Share in 2017
Figure 18 Banking, Financial Services, and Insurance Industry, and North America are Estimated to Have the Largest Market Shares in 2017
Figure 19 Support and Training Segment is Estimated to Hold the Largest Market Share Across the Globe, Except in Asia Pacific, in 2017
Figure 20 Automation-as-a-Service Market: Drivers, Restraints, Opportunities, and Challenges
Figure 21 Services Segment is Expected to Have A Higher CAGR During the Forecast Period
Figure 22 Managed Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 23 Deployment and Integration Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 24 Knowledge-Based Automation Type is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 25 Sales and Marketing Business Function is Expected to Have the Highest CAGR During the Forecast Period
Figure 26 Hybrid Cloud Deployment Model is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 27 Small and Medium-Sized Enterprises Segment is Expected to Adopt the Automation-as-a-Service Solution at A Higher CAGR During the Forecast Period
Figure 28 Healthcare and Life Sciences Industry is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 29 Asia Pacific is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 30 North America is Expected to Have the Largest Market Size During the Forecast Period
Figure 31 North America: Market Snapshot
Figure 32 Asia Pacific: Market Snapshot
Figure 33 Key Developments By the Leading Companies in the Automation-as-a-Service Market
Figure 34 Automation Anywhere: SWOT Analysis
Figure 35 Blue Prism: Company Snapshot
Figure 36 Blue Prism: SWOT Analysis
Figure 37 IBM: Company Snapshot
Figure 38 IBM: SWOT Analysis
Figure 39 Microsoft: Company Snapshot
Figure 40 Microsoft: SWOT Analysis
Figure 41 Uipath: SWOT Analysis
Figure 42 HCL Technologies: Company Snapshot
Figure 43 HPE: Company Snapshot
Figure 44 Nice Ltd.: Company Snapshot
Figure 45 Pegasystems: Company Snapshot

The automation-as-a-service market is expected to grow from USD 1.80 Billion in 2017 to USD 6.23 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 28.1%. The major growth drivers of the market include the increasing demand for automation and the increasing adoption of cloud technology.

The market is segmented by solution and services. The services segment is expected to grow at the highest CAGR during the forecast period, out of which, deployment and integration services in the professional services segment is projected to witness the highest demand, due to the growing need of automation-as-a-service solutions across organizations.

The Banking, Financial Services, and Insurance (BFSI) industry is expected to hold the largest share of the automation-as-a-service market in 2017. The growth is fueled by the growing need to simplify the workload related to security and the increasing dependence on workers, for monitoring every financial transaction. The healthcare and life sciences industry is expected to grow at the highest CAGR during the forecast period, due to the increasing need to store and manage data coming from various patients and medical devices and medical record systems, used across healthcare organizations.

The major business functions for which the automation-as-a-service is deployed include the IT, sales and marketing, operations, finance, and Human Resources (HR). The adoption of automation-as-a-service for sales and marketing is expected to increase significantly in the coming years because of the increasing need to automate repetitive tasks and streamline the business process across industries.

Organizations are deploying automation-as-a-service solutions either on the public, private, or hybrid cloud. The demand for hybrid automation-as-a-service solutions is expected to grow, due to its cost-effective and scalable features; its growth is expected to be high, particularly in the Small and Medium-sized Enterprises (SMEs), where low-cost solutions along with high data privacy are largely required.

Organizations are opting for rule-based or knowledge-based automation. The demand for knowledge-based automation solutions is expected to grow, due to its ability to deal with the increasing amount of unstructured data across all organizations with greater efficiency and lesser dependency on manual handling.

The global market has been segmented on the basis of regions into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). The North American region, followed by Europe, is expected to continue as the largest revenue-generating region for the automation-as-a-service vendors, for the next 5 years. This is mainly because, in the developed economies of the US and Canada, there is a high focus on innovations obtained from Research and Development (R&D) and technologies. The APAC region is expected to be the fastest-growing region in the automation-as-a-service market because of the increasing adoption of automation and cloud technologies, and various other government initiatives, such as smart cities across the APAC countries, including China and India.

Automation-as-a-Service Market

The automation-as-a-service market faces challenges, such as maintaining data security and privacy, and lack of skilled workforce. Factors such as lack of awareness of automation-as-a-service is expected to limit the market growth.

The major vendors that offer automation-as-a-service software and services globally are Automation Anywhere, Inc. (US), Blue Prism Group plc (UK), International Business Machines Corporation (US), Microsoft Corporation (US), UiPath (US), HCL Technologies Limited (India), Hewlett Packard Enterprise Development LP (US), Kofax Inc. (US), NICE Ltd. (Israel), and Pegasystems Inc. (US). These vendors have adopted different types of organic and inorganic growth strategies, such as new product launches, product upgradations, partnerships, collaborations, agreements, and acquisitions, to expand their offerings in the automation-as-a-service market.

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