Automation As A Service Market Size, Share, Opportunities, And Trends By Component (Services, Solution), By Platform (On-Premise, Cloud-Based), By Organization Size (Small And Medium-Sized Enterprise, Large Enterprise), By End-User (Retail And Consumer Goods, Manufacturer, Healthcare And Life Sciences, BFSI, Telecom And IT, Others), And By Geography - Forecasts From 2023 To 2028

The automation as a service market is projected to grow at a CAGR of 28.01% over the forecast period, increasing from US$1.865 billion in 2021 to US$10.504 billion by 2028.

Automation as a service is a structured solution or a service that will help large and small-scale industries automate their business in terms of functionalities, processes, and tasks. The increasing advancements in the field of artificial intelligence, machine learning, cloud automation, and the Internet of Things (IoT) are all contributing to massive growth in automation as a service market. Additionally, the increasing acceptance of automation across major industries is also a major factor attributing to market growth. The entire process like staffing, calling, and listing, among other services that are related to the human resources segment can be automated. Hence, in the projected period the market is expected to see multifold benefits as automation is increasing.

Growing Use Of Automation In End-Use Industries  

Increasing adoption of cloud solutions and demand for deployment options are rising rapidly in the market, with an increased focus on companies in the market automation is expected to increase its presence in multiple industries from manufacturing to the banking and finance sector. Additionally, in the projected period self-service networks, ‘as a service model’, robust AI, and remote workplaces all the places are expected to have a multifold growth which in turn will increase the market for automation as a service in the projected period. Increasing investments in automation research and development are expected to further boost the market. For instance, Testsigma raised US$ 4.6 million from Accel and STRIVE for testing automation, in April 2022. With the increasing focus on DevOps and automation, software delivery is faster than ever. Automated testing has been one of the essential criteria for balancing software quality, with the accelerated velocity and release cycles. To have the best quality testing experience both companies heavily invested in Testsigma. 

According to the United States Census Bureau, the number of people working from home in 2019 was 5.7% of the total population, or a total of 9.0 million people. But within, a span of two years the number of people working from home almost tripled and reached 27.6 million or 17.9% of people in total were working from home. The automation infrastructure needed by companies that are operating remotely can also play an important role in increasing the demand for automation as a service in the forecasted period.

North America is predicted to hold the largest market share for the market

Due to the presence of prominent IT firms and the fact that the majority of the top suppliers are based in the USA, North America is one of the largest contributors and investors in the market. Furthermore, the nation is witnessing a rise in investments in domestic companies, and various product launches which are contributing to industry innovation. For instance, one of Canada's leading providers of automation services, Tangentia, will help companies use AI and RPA in the banking and financial sectors starting in July 2022. Innovative technologies such as computer vision, deep learning, RPA, machine learning, and natural language processing have all been used in the development of TiA Core AI. TiA Core AI offers support for client data to Soroco, a leader in the task mining tools industry.   Moreover, the RPA digital automation wave for BFSI is also increasing the market of automation as a service market in North America.

The United States is predicted to hold the largest market share for the automation as a service market

.The region is one of the biggest contributors and investors in the market due to the presence of leading IT companies and the fact that the majority of the primary industry vendors have their headquarters in the US. Emerging technology is being used by a wide range of businesses due to technological breakthroughs and well-established regional IT infrastructure. In addition, the market is benefiting from the growing use of automation and cloud technology by businesses, along with regional government efforts aimed at developing smart cities

Moreover, the increasing adoption of artificial intelligence is also increasing the demand for automation as a service as access to AI made it easier to integrate across the business, but firms are also looking to AI to assist them in enhancing automation of jobs and saving expenses. The adoption of AI by larger and smaller organizations diverged considerably as well. Compared to only 69% in 2021, larger firms are now 100% more likely than smaller ones to have implemented AI throughout their organization. Additionally, as per the IBM report- IBM Global AI Adoption Index 2022, the percentage of deployed AI was 25%, and exploring AI was 43% in the United States. 

Market Key Developments

• In August 2022, UiPath acquired Re: infer, this acquisition will help UiPath to bring natural language processing that will enhance everyday customer conversation through automation. Re: infer uses machine learning technology to mine the context of the messages and provide speedy and accurate actionable data.   
• In February 2023, Dynatrace, a software intelligence business, announced the launch of the AutomationEngine. With its user-friendly interface, low-code and no-code toolkit, and use of Davis® causal AI, the new Dynatrace® platform technology enables teams to expand answer-driven automation throughout virtually limitless BizDevSecOps workflows.

Segmentation:

• By Component
  • Service
  • Solution
• By Platform
  • On-Premise
  • Cloud-Based
• By Organization Size
  • Small and Medium-Sized Enterprise
  • Large Enterprise
• By End-User
  • Retail and Consumer Goods
  • Manufacturer
  • Healthcare and Lifesciences
  • BFSI
  • Telecom and IT
  • Others
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Others