The automation as a service (AaaS) is defined as process of integrating domain and functionality tools over various automation layers by a unified interface for all the workflows. It can also be defined as the process of automating events, processes, tasks and the other business functions. AaaS also enables the enterprises to form a virtual workforce, which is capable of performing the several tasks associated to high efficiency, eliminating the requirement of human interventions. It also offers the high scalability and further reduces operational cost by 25–50%, as a virtual workforce which has capability to work round the clock.
According to study, “Automation as a Service Market by Component (Solution and Services), Business Function (Information Technology, Sales and Marketing, Operations, Finance, Human Resources, and Others), Enterprise Size (Large Enterprises and Small & Medium Enterprises), and Industry Vertical (BFSI, Telecom & IT, Retail, Healthcare, Manufacturing, Government & Defense, Energy & Utilities, Media & Entertainment, Transportation & Logistics, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026”. Some of the key companies operating in the global automation as a service market are Automation Anywhere, Inc., HCL Technologies Limited, Blue Prism Limited, Hewlett Packard Enterprise Company, Kofax Inc., Microsoft Corporation, Pegasystems Inc., International Business Machines Corporation, NICE Robotic Automation, and UiPath.
On the basis of type, automation as a service market is bifurcated as knowledge based automation and rule based automation. On the basis of component, market is bifurcated as services and solutions. Services include professional services (deployment & integration, consulting services and support & training) and managed services. On the basis of business function, market is bifurcated as sales & marketing, information technology (IT), finance, operations and human resources (HR). On the basis of deployment model, market is bifurcated as private cloud, public cloud and hybrid cloud. In addition, on the basis of industry vertical, market is bifurcated as manufacturing, telecom & IT, Banking, Financial Services, and Insurance (BFSI), retail & consumer goods, government & defense, media & entertainment, energy & utilities, transportation & logistics and others ( education and travel & hospitality).
The automation as a service market is driven by increase in adoption of the cloud technology, followed by rise in demand for automation across business processes. However, aspects such as maintaining data security and privacy may impact the market. Moreover, ability to generate a positive return on investment (ROI) and higher adoption among the small & medium enterprises is key opportunities for market.
Based on geography, the North-American region holds major share in global automation as a service market, followed by European region owing to increase in focus on innovations obtained from Research and Development (R&D) and technologies in the region. Whereas, the Asian-Pacific region is anticipated to exhibit considerable growth rate due to growth in adoption of automation and cloud technologies coupled with various other government initiatives, for instance smart cities across the APAC countries, including China and India over the forecast period. In upcoming years, it is predicted that future of the market will be bright caused by presence of a large number of big enterprises as well as large IT spending during the forecast period.
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Global Automation as a Service Market
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