Global Automation-as-a-Service Market: Introduction
Automation-as-a-Service is a bundle of research, education, consulting, and execution services which vendors offer to enterprises that are seeking to implement large-scale automation projects or scale automation across their organization. These services majorly include development, testing, and deployment of automated solutions, and the provision of production support services. According to McKinsey Global Institute, 40% of activities in the financial services industry can be completely automated.
COVID-19 Impact on the Global Automation-as-a-Service Market
The COVID-19 pandemic is expected to positively impact the global Automation-as-a-Service market. Remote working is encouraging enterprises to adopt cloud-based technologies on a large scale. Increased flexibility and accessibility related to cloud has helped companies to reduce the overall cost and improve efficiency. Demand for Automation-as-a-Service has increased during the COVID-19 period to improve productivity and to minimize the overall cost.
Global Automation-as-a-Service Market – Dynamics
Increasing need to Reduce Operational Cost Driving Growth of the Automation-as-a-Service Market
The rising competition across industries has pushed enterprises to adopt automation within the workflow process. Robotic process automation and business process automation has been adopted in multiple industries such as retail, food & beverages, and BFSI. The major reason to automate the processes is to reduce the long-term operational cost. Automation-as-a-Service enables the end-user to purchase the services in bundles (pay-as-you-go or subscription basis), which does not lead to any financial burden for integrating automation within the enterprise or organization. It indirectly helps in achieving economies of scale with respect to total cost.
Lack of Transparency and Privacy in Automation-as-a-Service
The major setback for Automation-as-a-Service in the current market scenario is its dependency on the cloud. Automation-as-a-Service is highly dependent on the cloud-based service which increases the concern of enterprises with regards to data sharing and privacy. Cloud-based services are shared services, which always involves a risk of data breach that indirectly hinders the growth of the market.
North America to Dominate the Global Automation-as-a-Service Market
In terms of region, the global Automation-as-a-Service market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to dominate the Automation-as-a-Service market during the forecast period due to strong adoption of cloud-based services by small & medium enterprises. The market in Asia Pacific is estimated to expand at the highest CAGR within the forecast period as the adoption of cloud-based services within APAC is expected to surpass 80% in comparison to on-premise services.
Global Automation-as-a-Service Market – Competition Landscape
- In October 2019, Automation Anywhere Enterprise A2019, which is the world's first purely web-based, cloud-native digital workforce platform was launched by Automation Anywhere. It is available in more than 14 languages, and dramatically reduces cost and infrastructure barriers to RPA adoption.
Global Automation-as-a-Service Market: Segmentation
The global Automation-as-a-Service market can be segmented based on:
- Enterprise Size
Global Automation-as-a-Service Market, by Component
Based on component, the global Automation-as-a-Service market can be divided into:
Global Automation-as-a-Service Market, by Enterprise Size
In terms of enterprise size, the global Automation-as-a-Service market can be segregated into:
- Small & Medium Enterprise
- Large Enterprise
Global Automation-as-a-Service Market, by Industry
In terms of industry, the global Automation-as-a-Service market can be segregated into:
- IT & Telecom
- Logistics & Transportation
Regional analysis of the global Automation-as-a-Service market includes:
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
- Business Process Automation
- Knowledge-based automation
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.