The Global Automation-as-a-Service (AaaS) Market is forecast to reach USD 15.47 Billion by 2026, according to a new report by Reports and Data. Mechanization-as-a-Service (AaaS) is the adaptive automated services offered by the technology companies, to various industry verticals in order to automate their process workflow and increase their productivity by a substantial margin. The global Automation-as-a-Service (AaaS) Market is growing predominantly as all the industries are slowly moving towards adapting the minimal amount of human efforts. Artificial intelligence and cognitive Mechanization is the advanced mode of Mechanization already started implementing in the technological conglomerates. More than 88% of the large enterprises have integrated Mechanization in their process inventory, and about 62% of the SMEs will have executed Mechanization systems for their internal operations by the end of the forecast period.
APAC is forecasted to achieve the fastest growth of about 34.9% in the period 2019 – 2026, due to an increase in the adoption of the Mechanization-as-a-service (AaaS) in both the SMEs and large enterprises across all the industry verticals in the countries like China, Singapore, and India. North America holds the highest market share of about 37.6% in 2018 because of the prodigious rate of implementation of the Mechanization services, especially in the conglomerates.
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The COVID-19 pandemic has indeed had a significant impact on the demand for automation services, particularly cloud-based solutions. The pandemic forced businesses to adapt to remote work environments and implement social distancing measures, which created challenges in maintaining operational efficiency. Automation services emerged as a valuable solution to mitigate these challenges and ensure business continuity.
Cloud-based automation services offered the advantage of accessibility from any location and device, allowing employees to work remotely without interruptions. By leveraging automation tools and platforms, businesses were able to streamline their processes, reduce the reliance on manual labor, and maintain productivity levels. Tasks such as data input, document processing, and other repetitive activities could be automated, relieving the burden on personnel and enabling them to focus on more strategic and high-value tasks.
Moreover, cloud-based automation solutions provide scalability and flexibility, allowing businesses to adjust their automation needs based on changing demands. This scalability is particularly crucial during uncertain times like the pandemic, where businesses needed to quickly adapt their operations to fluctuating market conditions and customer demands.
In addition to the pandemic’s impact, the growing need for cost-effective and efficient operations has also fueled the demand for automation-as-a-service. By automating processes, businesses can reduce costs associated with labor, minimize errors, and improve overall operational effectiveness. Automation services provide a way to achieve these goals while offering economic benefits in terms of increased efficiency, reduced operational expenses, and enhanced productivity.
some leading companies operating in the global Keyword market:
Microsoft Corporation, Mechanization Anywhere, HCL Technologies, Kofax Inc., Accenture plc, Pegasystems, IBM Corporation, Hewlett Packard Enterprise, Blue Prism, and Uipath.
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The global market is further segmented into type and application:
Deployment Type Outlook (Revenue: USD Billion; 2016-2026)
Business Application Outlook (Revenue: USD Billion; 2016-2026)
- Human Resourcing
- Sales & Marketing
- Finance Management
- IT & Logistics
- Operation Management
Component Outlook (Revenue: USD Billion; 2016-2026)
- Robotic Process Mechanization (RPA)
- Artificial Intelligence (AI) & Cognitive Mechanization
Organization Size Outlook (Revenue: USD Billion; 2016-2026)
- Large Enterprises
End-Use Industries Outlook (Revenue: USD Billion; 2016-2026)
- IT & Telecommunication
- Retail & E-commerce
- Government & Public Sectors
- Transportation & Logistics
- Media & Entertainment
- Manufacturing Industries
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Overall, the combination of the COVID-19 pandemic and the ongoing pursuit of cost-effective and efficient operations has accelerated the adoption of automation-as-a-service, particularly cloud-based solutions. As businesses continue to prioritize agility, scalability, and streamlined processes, the market for automation-as-a-service is expected to expand further in the coming years.
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