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 center of excellence (CoE) market has experienced remarkable growth in recent years, driven by the increasing complexity of business processes and the demand for scalability and flexibility. Let’s delve into the factors fueling this growth, emerging trends, and significant industry developments shaping the future of CoEs.

 

Market Growth and Projections

Exponential Expansion

• 2023 Market Size: $0.41 billion
• 2024 Forecast: $0.56 billion
• CAGR: 37.2%

The recent surge in CoE market size is attributed to the rising need for regulatory compliance, data explosion, and cost pressures driving organizations to adopt automation solutions.

 

Future Growth Predictions

• 2028 Forecast: $2.02 billion
• CAGR: 37.5%

Anticipated growth is fueled by increasing data privacy concerns, regulatory changes, cybersecurity risks, remote workforce management needs, and the demand for intelligent automation. Notable trends include ethical AI, robotic process orchestration, process mining, low-code/no-code platforms, and cloud-based automation solutions.

 

View More On The Automation Center Of Excellence Market Report 2024 – https://www.thebusinessresearchcompany.com/report/automation-center-of-excellence-global-market-report

 

Industrial Automation Driving Market Expansion

Role of Industrial Automation

The increasing adoption of industrial automation is a significant driver of CoE market growth. Industrial automation optimizes processes in manufacturing and production environments, compelling manufacturers to embrace automation for strategic advantages.

• Risk Mitigation: CoEs ensure compliance with safety regulations and cybersecurity standards, minimizing risks associated with industrial automation initiatives.
• Global Adoption: According to the International Federation of Robotics, global installations of industrial robots grew by 31% in 2021, indicating a rapid adoption rate.

 

Key Industry Players

Leading Companies

The CoE market features prominent players such as:

• Microsoft Corp.
• International Business Machine Corporation (IBM)
• Tata Consultancy Services (TCS) Ltd.
• Capgemini SE
• Infosys Limited
• Micro Focus International plc
• Nice Ltd.
• Wipro Limited
• BMC Software Inc.
• SS&C Technologie Holdings Ltd.
• Pegasystems Inc.

 

Technological Innovations

Focus on Next-Generation Automation

Companies are investing in advanced technologies like automation cloud robots to gain a competitive edge. These innovations streamline operations, increase efficiency, and leverage cloud resources for improved performance.

• Next-Gen UiPath Automation Cloud Robots: Launched by UiPath Inc. in May 2022, these robots enable instant deployment without IT support, utilizing cloud resources for enhanced functionality.

Synergies and Acquisitions

Strategic partnerships and acquisitions drive innovation and market expansion.

• SS&C Technologies Holdings, Inc. and Blue Prism Group plc.: SS&C’s acquisition of Blue Prism in March 2022 aims to optimize business automation processes and deliver transformational value through intelligent automation.

 

Market Segmentation

By Services

• Technology Assessment & Consulting
• Design & Testing
• Governance
• Implementation Support

By Organization Size

• Large Enterprises
• Small and Medium Enterprises (SMEs)

By Verticals

• Banking, Financial Services, and Insurance
• Information Technology and IT Enabled Services
• Retail and Consumer Goods
• Healthcare and Life Sciences
• Manufacturing
• Transportation and Logistics
• Other Verticals

Regional Insights

Geographic Dynamics

• 2023 Leader: North America held the largest market share.
• Fastest-Growing Region: Asia-Pacific is expected to lead in growth during the forecast period.

 

Conclusion

The CoE market is poised for substantial growth driven by the increasing adoption of automation across industries. With a focus on innovation, strategic partnerships, and technological advancements, CoEs are empowering organizations to optimize processes, enhance efficiency, and navigate the complexities of the digital age effectively. As businesses continue to embrace automation as a strategic imperative, the CoE market will play a pivotal role in shaping the future of work and driving sustainable growth.

 

Request A Sample Of The Global Automation Center Of Excellence Market Report 2024:
https://www.thebusinessresearchcompany.com/sample_request?id=14641&type=smp

The Automation Center Of Excellence Global Market Report 2024  provides comprehensive insights on the automation center of excellence market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the automation center of excellence 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.

 

View More Related Reports –

Automatic License Plate Recognition Global Market Report 2024

Automatic Identification And Data Capture Global Market Report 2024

Automatic Content Recognition Global Market Report 2024

 

Learn More About The Business Research Company
The Business Research Company has published over 3000+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

 

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info

 

Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model