New York, Sept. 16, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automation As A Service Global Market Report 2022" - https://www.reportlinker.com/p06319903/?utm_source=GNW
The global automation as a service market is expected to grow from $4.15 billion in 2021 to $5.25 billion in 2022 at a compound annual growth rate (CAGR) of 26.58%. The automation as a service market is expected to reach $14.31 billion in 2026 at a compound annual growth rate (CAGR) of 28.50%.
The automation as a service market consists of sales of automation as a service by entities (organizations, sole traders, and partnerships) that enables an organization in automating the business processes by recording and analyzing information from the existing applications.It is a service that vendors provide to enterprises that are seeking to implement automation across their organization.
Automation helps with improved speed, agility, and service delivery, reduced manual processing, reduced IT spending, improved productivity across departments, and faster troubleshooting.
The main types of automation as a service are rule-based automation and knowledge-based automation.Rules-based processes have a high degree of automation potential.
Searching, cutting and pasting, updating the same data in multiple places, moving data around, collating, and making simple choices are some examples.The organization size is small and medium-sized enterprises (SMEs) and large enterprises.
The business functions which use automation as a service are information technology, finance, human resources, sales and marketing, and operations.The services included managed services and professional services.
Banking, financial services, and insurance (BFSI), telecom and IT, retail and consumer goods, healthcare and life sciences, manufacturing, government and defense, energy and utilities, media and entertainment, transportation and logistics, and other industries use automation as a service solution.
North America was the largest region in the automation as a service market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the automation as a service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The automation as a service market research report is one of a series of new reports that provides automation as a service market statistics, including automation as a service industry global market size, regional shares, competitors with a automation as a service market share, detailed automation as a service market segments, market trends and opportunities, and any further data you may need to thrive in the automation as a service industry. This automation as a service market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The increasing demand for automation across business processes is driving the growth of automation as a service market.Automation in business operations is the use of technology to carry out repetitive actions and jobs rather than people.
Businesses must streamline their recruiting, accounts payable, and contract management procedures to increase productivity and decrease the risk of human mistakes.Additionally, automation can increase overall business function efficiency, standardize best practices, and cost savings.
According to McKinsey, a US-based management consulting firm, in 2020, 66% of businesses were piloting solutions to automate at least one business process, which was 57% in 2018, and the percentage of businesses that have fully automated at least one function has grown from 29% in 2018 to 31% in 2020. Therefore, the increasing need for automation in business processes drives the growth of automation as a service market.
Technological advancements are a key trend in the automation as a service market.Companies in automation as a service market are adopting advanced technologies to strengthen their position in the market.
Visual inspection, machine learning (ML), and artificial intelligence (AI) are advancements in the automation as a service market.The integration of these advanced technologies with automation as a service can make a significant difference to the enterprises’ business as it can provide game-changing results such as the highest quality outcomes and innovation of new practices in addition to reducing labor, improving efficiency, and minimizing costs.
For instance, in 2019, Automation Anywhere, a US-based company specializing in Robotic Process Automation (RPA), launched Enterprise A2019, a web-based, cloud-native Digital Workforce platform with AI and machine learning.Using machine learning techniques, Enterprise A2019 can better understand a process and develop a smart bot to carry out more complex tasks and increase productivity.
Using AI, Enterprise A2019 can extract data from any document and organize the information to streamline any process.
In July 2022, WNS Holdings, an India-based business process management company, acquired Vuram for $165 million.With this acquisition, WNS will accelerate its organizational transition to human-assisted, digitally led services and solutions.
The breadth of expertise Vuram has in assisting major businesses to achieve enterprise automation, and business transformation is in line with the short- and long-term strategic goals of WNS.Vuram is an India-based company that offers enterprise automation, customized, scalable, and end-to-end business process management solutions.
Vuram has about 900 people working in different cities across India, US, Mexico, Australia, Canada, and UK.
The countries covered in the automation as a service market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report: https://www.reportlinker.com/p06319903/?utm_source=GNW
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