Automation-as-a-Service Market Size, Share, Trends, Growth and Forecast 2032

The global Automation-as-a-Service Market size was worth around USD 7.98 Billion in 2023 and is predicted to grow to around USD 53.55 Billion by 2032 with a compound annual growth rate (CAGR) of roughly 23.60% between 2024 and 2032.

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The report analyzes and forecasts automation-as-a-service market on a global and regional level. The study offers historic data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Billion).

Automation-as-a-Service Market: Overview

Automation is integrating all the domains and tools into several layers to have a combined interface for all the workflows. Automation helps in streamlining various processes, business functions, tasks, and events.

The automation-as-a-service market is projected to grow considerably in the estimated time period, owing to the use of robotics in various manufacturing processes. In 2016, it was estimated that the global average robot density in the manufacturing industry was about 74 robots per 10,000 personnel. Various manufacturing industries, such as automotive, electronics, metal, and machinery, have increasingly opted to use robots for their assembly line processes. In 2016, the demand for robots in the automotive industry increased by 6% and had a share of 35% in the overall product supply. This has given a positive outlook to automation-as-a-service market and it is projected to continue in the future as well.

The assessment of automation-as-a-service market dynamics gives a brief thought about the drivers and restraints for the automation-as-a-service market along with the impact they have on the demand over the years to come. Additionally, the report also includes the study of opportunities available in the automation-as-a-service market on a global level.

Global Automation-as-a-Service Market: Growth Factors

Banking and financial institutes have opted for the new technology to curtail the time taken for various financial processes. In 2016, insurance companies globally invested USD 711 million in AI and IoT, which accounted for 44% of the total insurtech investments. Furthermore, insurance technology startups have been successful in convincing investors and attracting huge investments. In 2016, Coya, a European digital insurance provider, raised about USD 10 million from various major organizations. The rise in the number of cyberattacks is anticipated to be a major obstacle in the growth of this market in the future. However, the increasing use of artificial intelligence (AI) in several sectors might open new growth opportunities for the automation-as-a-service market in the near future.

The report gives a transparent view of the automation-as-a-service market. We have included a detailed competitive scenario and portfolio of leading vendors operating in the automation-as-a-service market. To understand the competitive landscape in the automation-as-a-service market, an analysis of Porter’s Five Forces model for the automation-as-a-service market has also been included. The study encompasses a market attractiveness analysis, wherein deployment, business function, technology, organization size, end-use industry, and regional segments are benchmarked based on their market size, growth rate, and general attractiveness.

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Global Automation-as-a-Service Market: Segmentation

The study provides a crucial view of the automation-as-a-service by segmenting the market based on deployment, business function, technology, organization size, end-use industry, and region. All the segments of the automation-as-a-service market have been analyzed based on present and future trends and the market is estimated from 2023 to 2032.

By deployment, the automation-as-a-service market is classified into the public cloud, private cloud, hybrid cloud, and on-premises. Public cloud is anticipated to grow at a noteworthy rate in the future, due to the increasing investments made by various organizations.

By function, the automation-as-a-service market segmented into Finance, operations, sales and marketing, human resources, and information technology 

By technology, the automation-as-a-service market segmented into Knowledge-based automation and rule-based automation.

By organization size, this global market is bifurcated into small and medium-sized enterprises (SMEs) and large enterprises.

By end-use industry, the automation-as-a-service market is divided into transportation, energy and utilities, manufacturing, retail, government sector, BFSI, and others. The manufacturing sector is likely to hold a substantial market share over the estimated timeframe, owing to the use of robotics in manufacturing processes.

Automation-as-a-Service Market: Report Scope

Global Automation-as-a-Service Market: Regional Analysis

The regional segmentation comprises the current and forecast demand for the Middle East and Africa, North America, Asia Pacific, Latin America, and Europe for automation-as-a-service market with its further division into the U.S., Canada, Mexico, UK, France, Germany, Russia, China, Japan, South Korea, India, Taiwan, Brazil, Argentina, Saudi Arabia, and UAE. 

The Asia Pacific is likely to hold a significant share in the automation-as-a-service market on a global scale during the estimated timeframe, due to the developments witnessed in the technology used in various developing nations, such as India, China, and South Korea. Furthermore, major organizations, such as IBM Corporation and Microsoft Corporation, are taking initiatives to offer their automated services in this region. IBM Corporation is planning to invest in China’s initiative of “AI-enabled China.”

Some of the major players operating in the Automation-as-a-Service Market are:

The competitive profiling of key players of the automation-as-a-service market includes company and financial overview, business strategies adopted by them, their recent developments, and products offered by them which can help in assessing competition in the market. Renowned players included in this report are:

• HCL Technologies
• UiPath
• Nice Ltd.
• Kofax Inc.
• Blue Prism
• Automation Anywhere
• Microsoft Corporation
• Pegasystems Inc.
• IBM Corporation
• Hewlett Packard Enterprise
• among others.

This report segments the global automation-as-a-service market as follows:

Global Automation-as-a-Service Market: Deployment Segment Analysis

• Public Cloud
• Private Cloud
• Hybrid Cloud
• On-Premises

Global Automation-as-a-Service Market: Business Function Segment Analysis

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

Global Automation-as-a-Service Market: Technology Segment Analysis

• Knowledge-Based Automation
• Rule-Based Automation

Global Automation-as-a-Service Market: Organization Size Segment Analysis

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

Global Automation-as-a-Service Market: End-Use Industry Segment Analysis

• Transportation
• Energy & Utilities
• Manufacturing
• Retail
• Government Sector
• BFSI
• Others

Global Automation-as-a-Service Market: Regional Segment Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa