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The global Automation-as-a-Service Market size is expected to reach a value of USD 80.24 billion in 2032, and register a revenue CAGR of 28.5%
NEW YORK CITY, NY, UNITED STATES, May 25, 2023 /EINPresswire.com/ — The global Automation-as-a-Service market is experiencing substantial growth and is expected to reach a value of USD 80.24 billion by 2032. This growth is driven by several factors. Firstly, companies are increasingly looking for ways to streamline their processes and reduce reliance on human labor, and the COVID-19 pandemic has further accelerated the demand for automation services. Secondly, there is a growing need for cloud-based solutions, which offer scalability, flexibility, and cost-effectiveness to businesses. Cloud-based automation services also enable remote access from any location and device, which has become crucial in the current work environment.
The adoption of automation services is expanding across various industries. In healthcare, for example, automation is being used to enhance patient care, reduce costs, and increase productivity. Robotic process automation (RPA) is being utilized in hospitals for administrative tasks like patient registration and insurance verification, freeing up staff and improving patient care. Similarly, the retail sector is implementing automation services to enhance the consumer experience and automate supply chain and inventory management processes.
The demand for economic and efficient business operations is another driver of the automation-as-a-service market. By eliminating manual labor, automation services improve operational efficiency, lower costs, and increase production. For instance, RPA systems automate tedious processes like data input and invoice processing, relieving personnel of repetitive tasks and boosting productivity.
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While the market shows significant growth potential, there are challenges that need to be addressed. Data security concerns pose a significant issue, as automation solutions involve the processing and storage of sensitive data. Businesses using automation services need to ensure robust data security measures are in place. Additionally, a lack of knowledge among small and medium-sized enterprises (SMEs) about the benefits and cost savings of automation services hinders market expansion. SMEs need to be educated about the advantages of automation to drive their adoption. Furthermore, the availability of inexpensive automation solutions may pose a challenge for businesses offering high-end automation services, as it could lead to increased competition.
Strategic Development:
In 2021, Microsoft Corporation announced its acquisition of The Marsden Group, a company specializing in intelligent automation solutions. This acquisition aims to enhance Microsoft’s automation capabilities and strengthen its position in the Automation-as-a-Service (AaaS) market.
In 2020, UiPath Inc. formed a strategic partnership with Deloitte, a global consulting firm, to develop intelligent automation solutions for clients across various industries. The goal of this collaboration is to provide end-to-end automation solutions and expand UiPath’s market reach.
In 2020, Automation Anywhere Inc. acquired Klevops, a company focused on AI-powered automation solutions. This acquisition is expected to enrich Automation Anywhere’s product offerings and strengthen its position in the AaaS market.
In 2019, IBM Corporation announced the acquisition of Red Hat, a leading provider of open-source software solutions. This acquisition aims to enhance IBM’s automation capabilities and strengthen its position in the AaaS market.
New Product Launches:
In 2021, HCL Technologies Limited launched HCL ADvantage, an end-to-end automation platform that offers a unified view of enterprise-wide automation operations. The platform includes features such as process discovery, automation design, and monitoring.
In 2020, Blue Prism Group plc released Version 6.9 of its Intelligent Automation platform. The new version incorporates features like AI-powered document processing and enhanced cloud capabilities.
In 2020, Nice Ltd. introduced the Nice Robotic Automation Intelligent Data Service (RPAiDS), a cloud-based solution with AI-powered automation capabilities. The solution includes features such as natural language processing, machine learning, and computer vision.
In 2019, Accenture plc launched the Accenture myWizard Intelligent Automation Platform, an end-to-end automation platform featuring AI-powered analytics and intelligent automation design. The platform is designed to help clients automate their business processes and improve operational efficiency.
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Competitive Landscape:
Several major companies play a significant role in the Automation-as-a-Service (AaaS) market. These companies are driving innovation, providing advanced automation solutions, and contributing to the growth of the industry.
IBM Corporation is a renowned technology company that has been actively expanding its automation capabilities. With its acquisition of Red Hat in 2019, IBM has strengthened its position in the AaaS market by integrating open-source software solutions into its offerings.
Microsoft Corporation, another prominent player, has been actively investing in the automation space. The company’s acquisition of The Marsden Group in 2021 further enhances its automation capabilities and market position. Microsoft aims to provide intelligent automation solutions that streamline processes and improve operational efficiency for its clients.
Automation Anywhere Inc. is a leading provider of automation solutions. The company offers a comprehensive platform that enables organizations to automate repetitive tasks and streamline their operations. Automation Anywhere’s acquisition of Klevops in 2020 has expanded its AI-powered automation capabilities, allowing it to cater to a wider range of customer needs.
UiPath Inc., a major player in the AaaS market, focuses on developing and delivering intelligent automation solutions. Through strategic partnerships, such as the one with Deloitte in 2020, UiPath aims to provide end-to-end automation solutions to clients across various industries.
Blue Prism Group plc specializes in providing an Intelligent Automation platform that combines robotic process automation (RPA) with AI capabilities. The company’s platform helps organizations automate complex processes and improve productivity.
HCL Technologies Limited, a global technology company, offers HCL ADvantage, an end-to-end automation platform that provides a unified view of automation operations. The platform includes features like process discovery, automation design, and monitoring, enabling businesses to streamline their processes effectively.
Kryon Systems Ltd. is a key player in the AaaS market, focusing on AI-powered robotic process automation solutions. The company’s solutions assist organizations in automating repetitive tasks, reducing errors, and enhancing efficiency.
Nice Ltd. offers the Nice Robotic Automation Intelligent Data Service (RPAiDS), a cloud-based solution that combines AI capabilities with automation. Nice’s solution includes features such as natural language processing, machine learning, and computer vision, providing advanced automation capabilities to its clients.
SAP SE, a global leader in enterprise software, has been actively incorporating automation into its offerings. The company’s automation solutions enable businesses to optimize their processes, improve customer experiences, and drive operational efficiency.
Accenture plc, a leading consulting and technology services company, has developed the Accenture myWizard Intelligent Automation Platform. This end-to-end automation platform combines AI-powered analytics with intelligent automation design, helping clients automate their business processes and enhance operational efficiency.
These major companies are continuously innovating and expanding their automation capabilities to meet the growing demand for automation services across various industries. Their contributions are driving the growth and evolution of the Automation-as-a-Service market.
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