The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The automation as a service market has witnessed exponential growth, expanding from $6.04 billion in 2023 to $7.38 billion in 2024, at a remarkable compound annual growth rate (CAGR) of 22.2%. This growth can be attributed to several key factors:

• Increased demand for streamlining business processes
• Evolution of robotic process automation (RPA)
• Shift towards cloud computing
• Focus on cost reduction and operational efficiency
• Desire for scalable and flexible solutions

Forecasting Future Trends

The automation as a service market is poised for exponential growth, expected to reach $16.99 billion in 2028, with a CAGR of 23.2%. Anticipated trends in the forecast period include:

• Increasing adoption of cloud-based solutions
• Growing demand for intelligent automation
• Emphasis on hyper automation strategies
• Industry-specific automation solutions
• Rise in remote workforce and digital transformation

Driving Forces Behind Market Expansion

Streamlining Business Complexity

The rising need to ease complex business processes is expected to drive the growth of the automation as a service (AaaS) market. Businesses are leveraging AaaS to simplify intricate workflows, enhancing manageability and cost-effectiveness. The adoption of robotic automation is gaining momentum, with projections indicating substantial integration into operations by 2030, albeit raising concerns about potential job displacement.

Innovative Digital Investment Solutions

Major companies in the automation as a service market are introducing innovative solutions, such as digital investment solutions, to gain a competitive edge. These solutions leverage technology to offer clients easy and secure access to expertly crafted portfolios, exemplified by Truist Financial Corporation’s launch of Truist Invest and Truist Invest Pro. These digital investment solutions underscore a strategic blend of personalized touch and innovative technology.

Strategic Moves and Industry Giants

Strategic Acquisitions

In July 2022, WNS Holdings, an India-based business process management company, acquired Vuram for $165 million. This strategic move accelerates WNS’s transition to human-assisted, digitally led services and solutions, aligning with its short- and long-term strategic goals. Vuram’s expertise in enterprise automation and business transformation complements WNS’s objectives in delivering customized, scalable solutions.

Key Players

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

Segmentation and Innovations

Market Segmentation

The automation as a service market is segmented based on:

1. Type: Rule-Based Automation, Knowledge-Based Automation
2. Organization Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
3. Business Function: Information Technology, Finance, Human Resources, Sales And Marketing, Operations
4. Service: Managed Services, Professional Services
5. 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 Industries

Innovative Developments

Innovations in automation drive market competitiveness and resilience, with a focus on process automation, cloud-based solutions, and intelligent process automation (IPA). The integration of AI and machine learning further enhances automation capabilities, ensuring business continuity and efficiency.

Regional Insights

North America Dominance

North America emerged as the largest region in the automation as a service market in 2023, highlighting its pivotal role in shaping market dynamics and technological advancements. Asia-Pacific is expected to witness the fastest growth in the forecast period, underscoring its emergence as a key market player.

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The Automation As A Service Global Market Report 2024  provides comprehensive insights on the automation as a service market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the automation as a service market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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