Advent of digitalization and industry 4.0 has propelled the market growth at a significant rate as it provides all-in-one automation suite to businesses for digitized solutions for their operations. In addition, rise in need to convert information into digital form to gain insights that supports strategic decision-making in an organization is further expected to drive the automation as a service market growth.

According to a recent report published by Allied Market Research, " automation as a service market size was valued at $2.08 billion in 2018, and is projected to reach $12.36 billion by 2026, growing at a CAGR of 25.3% from 2019 to 2026.

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Rise in the need to ease complex business processes, reduce workforce cost, and adoption of cloud technology among industries across the globe are expected to positively impact the growth of the market. However, lack of skilled workforce and concerns associated with digital data security and privacy restrain the growth of the market to a certain extent. Furthermore, with increase in demand for automation as a service among small and medium scale enterprises and is expected to bolster the revenue growth opportunities for players in the automation as a service market trends.

Favorable government initiatives particularly in developing regions to adopt cloud technology to modernize applications is further expected to boost growth of the global automation as a service market. In addition, momentous growth of cloud migration activities is among some of the major factors expected to boost the growth of the market during the forecast period. On the contrary, concerns associated with data security and privacy coupled with increase in number cyber-attacks on digital data restrain the market growth. Furthermore, rise in adoption of robotics in manufacturing facilities to ease operational and work force cost is a very opportunistic factor for the global market.

By component, the solution segment dominated the overall automation as a service market in 2018, and is further expected to endure traction for automation as a service among organizations during the forecast period. Moreover, the services segment witnessed a significant growth in the market, in terms for CAGR during the forecast period. This is attributed to automation services suite that includes consulting, installation, maintenance, and support services. Service automation concept is gaining traction over solutional packages due to its ability to integrate into almost all domains and functionality tools to have amalgamated interface for all workflows. In addition, AaaS services include automation of tasks, events, processes, and business functions, which helps businesses to achieve multi-dimensional visibility and helps them in streamlining service processes.

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Leading Market Players

➢ Pegasystems Inc. ➢ International Business Machines Corporation

➢ Microsoft Corporation ➢ UiPath ➢ HCL Technologies Limited

➢ Hewlett Packard Enterprise Company ➢ Blue Prism Limited

➢ Automation Anywhere, Inc. ➢ Kofax Inc. ➢ NICE ROBOTIC AUTOMATION

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