The automation-as-a-service market in Europe is expected to grow from US$ 843. 2 Mn in 2018 to US$ 7,197. 1 Bn by the year 2027. This represents a CAGR of 27. 7% from the year 2019 to 2027. The automation-as-a-service market is primarily driven by the growing focus towards improving the efficiency and reducing the errors in the process.
New York, March 19, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe Automation-as-a-service Market to 2027 - Regional Analysis and Forecasts by Component ; Deployment Model ; Business Function ; Industry Vertical" - https://www.reportlinker.com/p05875860/?utm_source=GNW
However, evolving regulations might hinder the growth of the automation-as-a-service market. The implementation of digital solutions is gaining momentum across various industries, including manufacturing, healthcare, BFSI, IT & telecom, and retail, among others. These industries are increasingly benefiting themselves from digital transformation. Analytics enable them to better apprehend and serve customers. Further, access to real-time information results in efficient decision-making. Automation of business operations facilitates them to escalate productivity. For instance, airline companies have become proficient at pricing through real-time information on supply and demand. Furthermore, retail companies with robust digital capabilities have designed seamless omnichannel environments. Also, the healthcare industry has modernized through EHRs, digital tools that track patients’ vital signs, as well as virtual consultations between patients and doctors. In the meantime, automation has reduced insurance companies’ claims-processing and underwriting costs. Manufacturers in every industry can enhance product quality, operating performance, and supply chain transparency, if they restructure their processes and train employees to function in the digital world. Therefore, companies are preparing themselves to adopt automation incrementally, and growing digitization is supporting the growth of the automation-as-a-service market.
The growth of novel technologies like machine learning, cognitive computing, and artificial intelligence is expected to promote the evolution of automation tools at a higher pace.Application of intelligent technologies among the innovation leaders and business pioneers is predicted to create arrangements that would lead to the development of the improvised framework, which would incorporate everything from staffing and general expenses to execution and productivity.
Furthermore, the significant advancements owing to the combined impact of AI and ML technologies are expected to ensure the increased ROI and productivity, thus driving growth opportunities for the automation-as-a-service market in the coming years.
The automation-as-a-service market, by deployment, is segmented into on-premise and cloud.The cloud segment holds a significant share of the automation-as-a-service market and is expected to grow at a high CAGR during the forecast period.
The cloud-based uses exploit virtual technology in order to host the applications of enterprises offsite.Therefore, it is largely adopted by small and medium enterprises.
Deployment of cloud eliminates capital-related overheads, the feature of data back up on a regular basis is available, and also the companies are entitled to pay only for the resources they utilize.It is feasible for the enterprises which plan an expeditious expansion on a global scale, as the cloud has greater appeal to connect with more partners, clients, customers, and other businesses across the locations with minimum effort.
In addition to this, the cloud-based deployment exhibits the feature of instant provisioning, as all the applications are already configured needed to run the software. Once an enterprise has subscribed, any new software which is integrated into an environment is ready to use directly.
The overall Europe 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 Europe automation-as-a-service market.
It also provides an overview and forecast for the Europe automation-as-a-service market based on all the segmentation provided with respect to the European 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 Europe 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.
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