Sarasota, FL -- (SBWIRE) -- 02/28/2019 -- Automation-as-a-Service Market by Deployment (Public Cloud, Private Cloud, Hybrid Cloud, and On-Premises), by Business Function (Finance, Operations, Sales & Marketing, Human Resource, and Information Technology), by Technology (Knowledge-based Automation and Rule-based Automation), by Organization Size (Small- and Medium-Sized Enterprises (SMEs) and Large Enterprises), and by End-Use Industry (Transportation, Energy & Utilities, Manufacturing, Retail, Government Sector, BFSI, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017–2024

Global automation-as-a-service market expected to reach USD 9.3 billion globally by 2024, at a CAGR of around 25.3% between 2018 and 2024. Automation is the adoption of technology and devices to operate various processes with minimal human intervention.

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The report analyzes and forecasts automation-as-a-service market on a global and regional level. The study offers past data from 2015 to 2017 along with a forecast from 2018 to 2024 based on revenue (USD Billion). The assessment of automation-as-a-service market dynamics gives a brief thought about the drivers and restraints for the automation-as-a-service market along with the impact they have on the demand over the years to come. Additionally, the report also includes the study of opportunities available in the automation-as-a-service market on a global level.

The report gives a transparent view of the automation-as-a-service market. We have included a detailed competitive scenario and portfolio of leading vendors operating in the automation-as-a-service market. To understand the competitive landscape in the automation-as-a-service market, an analysis of Porter's Five Forces model for the automation-as-a-service market has also been included. The study encompasses a market attractiveness analysis, wherein deployment, business function, technology, organization size, end-use industry, and regional segments are benchmarked based on their market size, growth rate, and general attractiveness.

The study provides a crucial view of the automation-as-a-service by segmenting the market based on deployment, business function, technology, organization size, end-use industry, and region. All the segments of the automation-as-a-service market have been analyzed based on present and future trends and the market is estimated from 2018 to 2024. By deployment, the automation-as-a-service market is classified into the public cloud, private cloud, hybrid cloud, and on-premises. Finance, operations, sales and marketing, human resources, and information technology comprise the business function segment of the automation-as-a-service market. Knowledge-based automation and rule-based automation is included in the technology segment of the automation-as-a-service market. By organization size, this global market is bifurcated into small and medium-sized enterprises (SMEs) and large enterprises. By end-use industry, the automation-as-a-service market is divided into transportation, energy and utilities, manufacturing, retail, government sector, BFSI, and others. The regional segmentation comprises the current and forecast demand for the Middle East and Africa, North America, Asia Pacific, Latin America, and Europe for automation-as-a-service market with its further division into the U.S., Canada, Mexico, UK, France, Germany, Russia, China, Japan, South Korea, India, Taiwan, Brazil, Argentina, Saudi Arabia, and UAE.

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The competitive profiling of key players of the automation-as-a-service market includes company and financial overview, business strategies adopted by them, their recent developments, and products offered by them which can help in assessing competition in the market. Renowned players included in this report are HCL Technologies, UiPath, Nice Ltd., Kofax Inc., Blue Prism, Automation Anywhere, Inc., Microsoft Corporation, Pegasystems Inc., IBM Corporation, and Hewlett Packard Enterprise, among others.

This report segments the global automation-as-a-service market as follows:

Global Automation-as-a-Service Market: Deployment Segment Analysis

Public Cloud
Private Cloud
Hybrid Cloud
On-Premises

Global Automation-as-a-Service Market: Business Function Segment Analysis

Finance
Operations
Sales and Marketing
Human Resources (HR)
Information Technology (IT)

Global Automation-as-a-Service Market: Technology Segment Analysis

Knowledge-Based Automation
Rule-Based Automation

Global Automation-as-a-Service Market: Organization Size Segment Analysis

Small and Medium-sized Enterprises (SMEs)
Large Enterprises

Global Automation-as-a-Service Market: End-Use Industry Segment Analysis

Transportation
Energy & Utilities
Manufacturing
Retail
Government Sector
BFSI
Others

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Global Automation-as-a-Service Market: Regional Segment Analysis

North America
The U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
Middle East and Africa

The automation-as-a-service market is estimated to grow significantly during the estimated time period, owing to the increasing demand for automation in the energy and utility sector. Automating various functions and processes in this industry has grown considerably over the last decade. For instance, using smart meters instead of meter readers and using drones for inspections. Furthermore, Statkraft, one of Europe's largest green energy producers, uses IT automation to accumulate and assemble information to analyze the climatic impact on renewable energy sources.

The rise in the demand for automation in retail is likely to drive the automation-as-a-service market during the forecast timeframe. Certain benefits of automation can be witnessed across supply chain and inventory management activities. Automation helps in streamlining processes via quick identification of goods, reducing delays as a result of additional paperwork, and curtails scams as well as manual errors. Various global retailers, such as eBay, Amazon, and Walmart, have opted for automated solutions for managing their inventories. In 2018, Walmart planned to expand its usage of autonomous robots for inventory management. The company is working with "Bossa Nova" to bring robots that help in detecting out-of-stock goods along with guiding staffs and customers to their products in the shops.

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The automation-as-a-service market is bifurcated on the basis of technology into knowledge-based automation and rule-based automation. Knowledge-based automation is anticipated to hold a significant market share during the estimated timeframe, due to the increasing demand for artificial intelligence in various industries. By business function, the automation-as-a-service market includes finance, operations, sales and marketing, human resource, and information technology. The Operations segment is projected to expand significantly over the forecast period, owing to the growing investments made in automating various manufacturing processes for reducing wastes and costs.

The North American automation-as-a-service market is estimated to grow significantly in the future, due to technological advancements made in the transportation sector. Several companies, such as FedEx, UPS, and DHL, use automation for streamlining their transport operations. FedEx is working with "Peloton Technology" to electronically link trucks to small caravan groups known as platoons.

Some of the key players in the automation-as-a-service market are HCL Technologies, UiPath, Nice Ltd., Kofax Inc., Blue Prism, Automation Anywhere, Inc., Microsoft Corporation, Pegasystems Inc., IBM Corporation, and Hewlett Packard Enterprise, among others.