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Automation-as-a-Service (AaaS) Market Size Projected to Reach USD 15.47 Billion at CAGR of 29.7%, By 2026

Reports And Data

Reports And Data

Automation-as-a-Service (AaaS) Market USD 1.92 Billion in 2018, CAGR of 29.7%, Increase in demand for cloud-based (AaaS) in the BFSI & E-commerce industries

NEW YORK, NY, UNITED STATES, September 27, 2021 /EINPresswire.com/ -- Increasing demand for robotic process automation (RPA) services in the BFSI & E-commerce SMEs, coupled with high investment in R&D of automation-as-a-service (AaaS), is fueling the market growth.

The Global Automation-as-a-Service (AaaS) Market is forecast to reach USD 15.47 Billion by 2026, according to a new report by Reports and Data. Automation-as-a-Service (AaaS) is the adaptive automated services offered by the technology companies, to various industry verticals in order to automate their process workflow and increase their productivity by a substantial margin. The global automation-as-a-service (AaaS) market is growing predominantly as all the industries are slowly moving towards adapting the minimal amount of human efforts. Artificial intelligence and cognitive automation is the advanced mode of automation already started implementing in the technological conglomerates. More than 88% of the large enterprises have integrated automation in their process inventory, and about 62% of the SMEs will have executed automation systems for their internal operations by the end of the forecast period.

APAC is forecasted to achieve the fastest growth of about 34.9% in the period 2019 – 2026, due to an increase in the adoption of the automation-as-a-service (AaaS) in both the SMEs and large enterprises across all the industry verticals in the countries like China, Singapore, and India. North America holds the highest market share of about 37.6% in 2018 because of the prodigious rate of implementation of the automation services, especially in the conglomerates.

Key participants include Microsoft Corporation, Automation Anywhere, HCL Technologies, Kofax Inc., Accenture plc, Pegasystems, IBM Corporation, Hewlett Packard Enterprise, Blue Prism, and Uipath.

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Further key findings from the report suggest

• IT & telecommunication sub-segment had a market share of 16.1% in 2018 and is expected to grow at a CAGR of 31.0% during the forecast period. Automation services through robotic process automation (RPA) or advanced automation with artificial intelligence (AI) & cognitive automation provides telecommunication companies with operational efficiency by streamlining the overall operations and other front-end business processes. Automation Anywhere provides automation for the IT & Telecommunication industries with RPA platform and advanced IQ Bot with AI & cognitive automation, which understands the specific automation requirements in process.
• Cloud sub-segment is expected to reach 38.5% of market share by 2026, having grown with a CAGR of 32.1% throughout the forecast period. Cloud automation refers to the cloud-based tools, an organization uses to reduce manual efforts associated with provisioning and managing workloads. AutomationEdge offers RPA as a service on cloud with a lower infrastructure cost, less maintenance, and upgrade costs.
• Automation in human resourcing provides enhanced efficiency of the HR department by freeing the employees from the extensive manual tasks and allows them to focus on highly complex tasks in decision making and to strategize. The segment had a market revenue of USD 0.29 Billion in 2018. The CAGR is calculated to be 30.2% during the forecast period.
• Europe would reach a market share of 26.7% by 2026, having grown at a CAGR of 27.7% in the forecast period. United Kingdom and Ireland have some of the most valuable players in this region.

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/automation-as-a-service-aaas-market

For the purpose of this report, Reports and Data have segmented the global automation-as-a-service (AaaS) market on the basis of the deployment type, business application, component, organization size, end-use industries, and region:

Deployment Type Outlook (Revenue: USD Billion; 2016-2026)

On-Premise
Cloud

Business Application Outlook (Revenue: USD Billion; 2016-2026)

Human Resourcing
Sales & Marketing
Finance Management
IT & Logistics
Operation Management

Component Outlook (Revenue: USD Billion; 2016-2026)

Robotic Process Automation (RPA)
Artificial Intelligence (AI) & Cognitive Automation

Organization Size Outlook (Revenue: USD Billion; 2016-2026)

Large Enterprises
SMEs

End-Use Industries Outlook (Revenue: USD Billion; 2016-2026)

BFSI
IT & Telecommunication
Retail & E-commerce
Government & Public Sectors
Transportation & Logistics
Media & Entertainment
Manufacturing Industries
Others

Regional Outlook (Revenue: USD Billion; 2016-2026)

North America
Europe
Asia Pacific
MEA
Latin America

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Frequently asked questions addressed in the report:

What is the forecast size and revenue CAGR of the global Automation-as-a-Service (AaaS) market?
What are the major factors driving the growth of the global Automation-as-a-Service (AaaS) market?
What are the latest trends influencing market growth?
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Which are the top companies operating in the global Automation-as-a-Service (AaaS) market?

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Tushar Rajput
Reports and Data
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