New Product Launches, Product Upgradations, Agreements, Collaborations, Business Expansions, Partnerships, and Acquisitions are the Automation-As-A-Service Market
Automation-as-a-service enables organizations to mechanize the repetitive and mundane business processes to shift from slow manual process to reliable, fast automation. It is a subscription-based service delivered via the cloud. It helps companies cut down on inevitable losses, gain operational efficiency, and grab new opportunities. The global 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 automation-as-a-service market includes an expansive number of 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) providing solution and services. The players in this market have embraced different strategies to expand their worldwide presence and increase their market shares. New product launches, product upgradations, agreements, collaborations, business expansions, partnerships, and acquisitions are some of the significant strategies adopted by the players in the automation-as-a-service market.
Microsoft is one of the eminent leaders in the automation-as-a-service market. The organization primarily serves the regions of North America, Asia Pacific (APAC), Latin America, Middle East and Africa (MEA), and Europe. Microsoft’s long-term strategy leans more toward the organic growth strategy, where it looks forward to maintain a competitive edge over other players in the market. Organic strategies such as product development and new product launch are enabling Microsoft to improve its automation-as-a-service product offerings as well as cater to a wider audience. For instance, in September 2017, Microsoft expanded the integration capabilities between PowerApps, Microsoft Flow, Office 365 and Dynamics 365. Any business user familiar with InfoPath forms, Access databases, or SharePoint can build apps that extend and automate their business processes, including apps. The company is also investing a large amount of its annual revenue in Research and Development (R&D) activities to deliver an innovative set of products and make a strong foothold in the untapped markets. For instance, in 2016, the company invested USD 13.04 Billion in R&D.
The fundamental objective of IBM is to meet every industry’s clients’ requirement and in addition, provide new advancements with automation-as-a-service solutions. The organization serves clients across different industries, such as communications; Banking, Financial Services, and Insurance (BFSI); energy and utilities; hospitality; healthcare; retail; travel and transportation; metals and mining; government sector; media and entertainment; and education. IBM is headquartered in the US and has its presence in 175 countries, worldwide. It is considered as one of the strongest suppliers of automation-as-a-service solutions. The company follows both organic as well as inorganic strategies to deal with the expansion of its market share. As per its inorganic growth strategy, in December 2017, IBM and Blue Prism partnered to deliver a secure, scalable, and easy-to-use Digital Workforce for enterprises worldwide, such as Walgreens. IBM has been working with Blue Prism to drive a digital transformation strategy for customers. Clients across a range of industry segments are utilizing Blue Prism to drive innovation and improve overall customer service. Blue Prism is now able to leverage IBM's broad services and cognitive capabilities.
Whereas, in accordance with its organic growth strategy, in October 2017, IBM launched two new services, IBM Cloud Migration Services and IBM Cloud Deployment Services. Cloud Migration Services helps businesses get ready to move to the cloud while Cloud Deployment Services is a fully managed orchestration and automation platform for building private and hybrid clouds across multiple platforms and service providers (and that includes non-IBM products).
Related 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
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