The Global Automation-as-a-Service Market size is expected to reach $44 billion by 2031, rising at a market growth of 24.9% CAGR during the forecast period.
Energy & utilities companies manage extensive infrastructure assets, including power plants, transmission lines, substations, and distribution equipment. Thus, the Energy & utilities segment acquired 6.7% revenue share in the market 2023. AaaS solutions automate asset management processes such as asset tracking, maintenance scheduling, and condition monitoring, enabling utilities to optimize asset utilization, prolong asset lifespan, and minimize unplanned downtime.
The major strategies followed by the market participants are Partnership as the key developmental strategy to keep pace with the changing demands of end users. For instance, In January, 2024, IBM Corporation came into partnership with SAP SE, a German multinational software company. Through this partnership, IBM Corporation would create innovative AI solutions tailored for the Consumer-Packaged Goods and Retail sectors.
Additionally, by leveraging AI and machine learning algorithms, AaaS platforms can assist radiologists and other healthcare professionals in analyzing medical images, detecting abnormalities, and generating diagnostic reports more efficiently and accurately, leading to faster diagnosis and treatment. Therefore, the market is expanding significantly due to the increasing adoption of healthcare industry.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Partnership and Collaboration.
The competition within the market is fierce, characterized by dynamic shifts and rapid advancements. With an influx of vendors offering a diverse array of solutions, ranging from established tech giants to agile startups, the market is bustling with innovation. Technological progressions in artificial intelligence, machine learning, and cloud computing are fueling this innovation, pushing vendors to continually enhance their platforms with cutting-edge features.
Energy & utilities companies manage extensive infrastructure assets, including power plants, transmission lines, substations, and distribution equipment. Thus, the Energy & utilities segment acquired 6.7% revenue share in the market 2023. AaaS solutions automate asset management processes such as asset tracking, maintenance scheduling, and condition monitoring, enabling utilities to optimize asset utilization, prolong asset lifespan, and minimize unplanned downtime.
The major strategies followed by the market participants are Partnership as the key developmental strategy to keep pace with the changing demands of end users. For instance, In January, 2024, IBM Corporation came into partnership with SAP SE, a German multinational software company. Through this partnership, IBM Corporation would create innovative AI solutions tailored for the Consumer-Packaged Goods and Retail sectors.
Cardinal Matrix - Market Competition Analysis
Based on the Analysis presented in the Cardinal matrix, Microsoft Corporation is the forerunner in the Market. In December 2023, Automation Anywhere, Inc. came into partnership with Amazon Web Services, a company that provides on-demand cloud computing platforms and APIs to individuals, companies, and governments. Through this partnership, Automation Anywhere, Inc. would create automation solutions tailored for specific industries, aiming to accelerate the success of automation deployment. Companies such as Automation Anywhere, Inc., HCL Technologies Ltd. and IBM Corporation are some of the key innovators in the Automation-as-a-Service Market.
Market Growth Factors
Cloud-based AaaS solutions can be deployed more rapidly than traditional on-premises solutions. With cloud infrastructure, businesses can quickly provision and configure automation environments, reducing deployment times from weeks or months to just days or hours.Additionally, by leveraging AI and machine learning algorithms, AaaS platforms can assist radiologists and other healthcare professionals in analyzing medical images, detecting abnormalities, and generating diagnostic reports more efficiently and accurately, leading to faster diagnosis and treatment. Therefore, the market is expanding significantly due to the increasing adoption of healthcare industry.
Market Restraining Factors
Reliability and performance issues, such as system downtime, service interruptions, or slow response times, can erode trust and credibility in AaaS providers. Businesses rely on AaaS solutions to automate critical processes and workflows, and any disruptions or failures can lead to losing confidence in the provider’s ability to deliver reliable and high-performing services. Thus, reliability and performance concerns can slow down the growth of the market.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Partnership and Collaboration.
By Offer Analysis
On the basis of offering, the market is bifurcated into solution and services. In 2023, the solution segment held 71.3% revenue share in the market. AaaS providers prioritize user experience (UX) design to ensure that their solutions are intuitive, easy to use, and accessible to many users.By Type Analysis
On the basis of deployment mode, the market is fragmented into knowledge-based and rule-based. The knowledge-based segment covered 34.5% revenue share in the market in 2023.By Organization Analysis
Based on organization size, the market is categorized into small & medium enterprises and large enterprises. In 2023, the large enterprises segment registered 72.4% revenue share in the market. AaaS platforms enable large enterprises to achieve enterprise-wide integration by connecting disparate systems, applications, and data sources into a unified automation ecosystem.
By Business function Analysis
By business function, the market is segmented into information technology, operations, finance, sales & marketing, HR, and others. The sales & marketing segment garnered19.3% revenue share in the market in 2023.By Vertical Analysis
Based on vertical, the market is classified into BFSI, government, energy & utilities, healthcare & lifesciences, manufacturing, retail & eCommerce, telecom & IT, transportation & logistics, and others. The manufacturing segment acquired 9.3% revenue share in the market in 2023.By Regional Analysis
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the Asia Pacific region acquired 28.2% revenue share in the market. The Asia Pacific region is experiencing rapid digital transformation across industries, driven by increasing internet penetration, smartphone adoption, and e-commerce growth.Market Competition and Attributes
The competition within the market is fierce, characterized by dynamic shifts and rapid advancements. With an influx of vendors offering a diverse array of solutions, ranging from established tech giants to agile startups, the market is bustling with innovation. Technological progressions in artificial intelligence, machine learning, and cloud computing are fueling this innovation, pushing vendors to continually enhance their platforms with cutting-edge features.
Recent Strategies Deployed in the Market
- Jan-2024: IBM Corporation came into partnership with SAP SE, a German multinational software company. Through this partnership, IBM Corporation would create innovative AI solutions tailored for the Consumer-Packaged Goods and Retail sectors.
- Dec-2023: Automation Anywhere, Inc. came into partnership with Amazon Web Services, a company that provides on-demand cloud computing platforms and APIs to individuals, companies, and governments. Through this partnership, Automation Anywhere, Inc. would create automation solutions tailored for specific industries, aiming to accelerate the success of automation deployment.
- Nov-2023: Hewlett Packard Enterprise Company came into partnership with Nvidia, an American multinational corporation and technology company. Through this partnership, Hewlett Packard Enterprise Company would develop an enterprise computing solution for generative AI (GenAI).
- Oct-2023: Microsoft Corporation came into partnership with Rockwell Automation, Inc., an American provider of industrial automation and digital transformation technologies. Through this partnership, Microsoft Corporation would harness the potential of Generative AI capabilities to boost productivity and accelerate time-to-market.
- Jul-2023: HCL Technologies Ltd. took over ASAP Group, a German automotive engineering services provider. Through this acquisition, HCL Technologies Ltd. would enhance its advanced technological capabilities within the rapidly expanding automotive engineering services sector in Europe and other critical global markets.
- Mar-2019: Automation Anywhere, Inc. came into partnership with BMC Software, an American multinational information technology services and consulting, and Enterprise Software company. Through this partnership, Automation Anywhere would expand the functionality of BMC Helix cognitive automation by integrating RPA into service desk operations.
List of Key Companies Profiled
- Automation Anywhere, Inc.
- Blue Prism Group PLC (SS&C Technologies Holdings, Inc.)
- HCL Technologies Ltd. (HCL Enterprises)
- Hewlett Packard enterprise Company
- IBM Corporation
- NICE Ltd.
- Microsoft Corporation
- Pegasystems Inc.
- UiPath, Inc.
- Kofax, Inc. (Thoma Bravo LLC)
Market Report Segmentation
By Offering- Solution
- Services
- Rule-based
- Knowledge-based
- Large Enterprises
- Small & Medium Enterprises
- Information Technology
- Sales & Marketing
- Operations
- Finance
- Others
- BFSI
- Government
- Energy & Utilities
- Healthcare & Lifesciences
- Transportation & Logistics
- Manufacturing
- Retail & eCommerce
- Telecom & IT
- Others
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Global Automation-as-a-Service Market by Offering
Chapter 6. Global Automation-as-a-Service Market by Type
Chapter 7. Global Automation-as-a-Service Market by Organization Size
Chapter 8. Global Automation-as-a-Service Market by Business Function
Chapter 9. Global Automation-as-a-Service Market by Vertical
Chapter 10. Global Automation-as-a-Service Market by Region
Chapter 11. Company Profiles
Companies Mentioned
- Automation Anywhere, Inc.
- Blue Prism Group PLC (SS&C Technologies Holdings, Inc.)
- HCL Technologies Ltd. (HCL Enterprises)
- Hewlett Packard enterprise Company
- IBM Corporation
- NICE Ltd.
- Microsoft Corporation
- Pegasystems Inc.
- UiPath, Inc.
- Kofax, Inc. (Thoma Bravo LLC)
Methodology
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