north america automation-as-a-service Market

The automation-as-a-service market in North America is expected to grow from US$ 1.04 Bn in 2018 to US$ 7.89 Bn by the year 2027. This represents a CAGR of 26.0% from the year 2019 to 2027.

The automation-as-a-service market is primarily driven by the growing digitization across various industry verticals and growing demand for quick and error-free processes. However, changing business standards might hinder the growth of the automation-as-a-service market. Automation comprises systematizing series of operations by interpreting and capturing existing high-volume and repetitive business processes. It deals with triggering responses, data handling, and communication with the other digital systems, which typically calls for tremendous monotony and labor. The model of automation-as-a-service empowers the organizations to shift from manual and slow processes to fast, reliable automation across the organization in a few hours or minutes. The rising demand for automation and the intensifying adoption of cloud technology are projected to be significant drivers for the growth of the automation-as-a-service market.

With the increasing competition globally, the business is ensuring their digital presence and are efficiently utilizing digital technology in order to sustain in the market. Organizations in the present era, irrespective of their size, are adopting digital technologies for effective functioning and cost reduction. Tasks that are highly skillful can be automated through Machine Learning and Artificial Intelligence, thus, resulting in cost savings. Further, the digitalization of processes helps in time-saving and reduction of errors, thereby improving the work quality. Owing to the mentioned advantages, the adoption of digital solutions by SMEs is gaining pace, consequently, providing potential opportunities to the players the value chain of the automation-as-a-service market.

The automation-as-a-service market, by component, is segmented into solution and services. The solution segment holds a significant share of the automation-as-a-service market and is expected to grow at a high CAGR. In the digital era, purchasing hardware and software for rapidly emerging technologies such as Robotics, AI, and Drones involves high complexity. In addition, retaining scarce resources for managing and operating such a system can be even harder. Owing to this, numerous advanced technology providers are making it easy for their customers to move to newer technologies by providing Automation Solutions as-a-Service, based on their business requirements. These providers host the solutions and manage them for their customers by offering solutions in the subscription model. The automation as-a-service provides a flexible, consumption-based subscription model, in which the providers classify automation flows into simple, medium, and complex types, with a fixed price for each type. The customers can select their level of subscription (i.e., how many flows per period) and can simply pay as they consume.

The overall North America automation-as-a-service market size has been derived using both primary and secondary sources. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the North America automation-as-a-service market. It also provides an overview and forecast for the North America automation-as-a-service market based on all the segmentation provided with respect to the North America region. Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America automation-as-a-service industry. Some of the players present in the automation-as-a-service market are Accenture PLC, Automation Anywhere, Inc., Blue Prism Group plc, HCL Technologies Limited, Hewlett Packard Enterprise, IBM Corporation, Microsoft Corporation, NICE Ltd., Pegasystems Inc., and UiPath among others.