New York, NY, Dec. 13, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “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”. According to the report, the global automation-as-a-service market accounted for USD 1.9 billion in 2017 and is 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. Automating processes and functions is performed to reduce errors, costs, and wastage caused during the manufacturing of products and for timely supply of products and services to the customers.

Browse through 128 Tables & 40 Figures spread over 176 Pages and in-depth TOC on “Global Automation-as-a-Service Market Size & Share 2017: Industry Growth, Trends, Segments, Analysis and Forecast 2024”.

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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.

North America is projected to hold a substantial share of the global automation-as-a-service market in the future, due to the increasing use of various automation services in online shopping for payments, marketing, customer retention, and delivering goods. The U.S. is anticipated to be the major contributor in the rise of the automation-as-a-service market in the region, due to the country’s thriving retail sector. Retailers in the country are keen to offer their products online. For instance, in 2018, Walmart acquired a 77% stake in Flipkart for around USD 16 billion.

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The European automation-as-a-service market is mainly driven by the increasing use of robots in the manufacturing industry. In 2016, about 56,000 industrial robots were sold in the region, recording a 12% increase as compared to 2015. In 2016, Germany was the major market contributor with almost 36% of the total industrial robot sales in Europe. Furthermore, technological advancements made in the European automotive sector is projected to drive this market in the near future.

Asia Pacific is anticipated to grow prominently in the market for automation-as-a-service in the upcoming years. India and China are expected to be major contributions in this regional market, due to the increasing investments made in the transportation sector. From 2000 to 2016, the overall foreign direct investment (FDI) in India’s air transport was about USD 1,608.51 million. Total Indian international freight traffic increased by about 7% from 2006 to 2017. Additionally, in 2016, the Chinese government announced an investment of USD 12 billion for developing its aviation infrastructure. Thus, the Asia Pacific automation-as-a-service market progression is evident in the forecast years.

Latin America is likely to make a considerable contribution in the automation-as-a-service market in the projected timeframe, with Brazil being a major contributor. In 2015, the U.S. industrial automation exports to Brazil were USD 367 million with an anticipated increase in investment of various companies in the country. In 2018, Siemens announced to triple its investments in the country over the next five years to about USD 1.14 billion.

Browse the full "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" Report At https://www.zionmarketresearch.com/report/automation-as-a-service-market

The Middle East and Africa is expected to grow at a noteworthy rate in the global automation-as-a-service market in the estimated time period, owing to the increasing investments made in the energy and utility sector. In 2015, Emerson provided automation services for a gas project in Qatar. In 2017, the company signed an agreement with the Saudi Arabian government to explore the digital oil field initiatives taken by the country.

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.

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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

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
  • The Middle East and Africa

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