Automation-as-a-Service Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Automation-as-a-Service Market is segmented by Deployment Type (Cloud and On-premise), Business Function (Information Technology, Finance, Human Resources, Sales and Marketing, Operations), Enterprise Size (Large Enterprise, Small and Medium-sized Enterprise), End-user Vertical (BFSI, Telecom and IT, Retail and Consumer Goods, Manufacturing, Healthcare and Life Sciences), and Geography.

Automation-as-a-Service Industry Overview

Automation as a Service Market
Study Period: 2018 - 2028
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 26.9 %

Major Players


*Disclaimer: Major Players sorted in no particular order


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Automation-as-a-Service Market Analysis

The Global Automation-as-a-Service Market is expected to register a CAGR of 26.9% over the forecast period. Some key reasons propelling the growth of the studied market are the increasing acceptance of automation across all end-user sectors, expanding the reach of cloud computing, and rising IoT device numbers. The need for healthcare services is anticipated to increase in the upcoming years. Many operations, including admissions and patient histories, need to be automated as most countries' healthcare infrastructure develops to manage massive amounts of patient data.

  • The considerable growth of automation as a Service (AaaS) has been facilitated by the ongoing advancement of new technologies such as artificial intelligence (AI), machine learning, cloud computing, and the Internet of Things (IoT), as well as its deployment across many enterprises. According to Morgan Stanley, the AaaS market would directly impact the AI industry's projected USD 1 trillion sales by 2050. Shortly, the use of cloud-based solutions will continue to expand significantly as businesses desire deployment alternatives that speed up value realisation. Organisations invest in a private or public cloud due to the expansion of their digital workforces, which enables them to automate difficult-to-automate, content-intensive tasks.
  • Business Process Automation focuses on automating day-to-day IT processes and business functions to maximise efficiency, reduce costs, and ensure smooth operations. Various factors, such as companies planning to migrate their infrastructure to the cloud, strengthening business continuity, and improving business operations, have led to the widespread use of BPA across organisations. For instance, Generali, a major European insurance company, switched from manual, time- and money-consuming business processes to automated ones. This resulted in savings of up to 90% through repeatable processes and a 50% reduction in the time needed to underwrite complicated activities.
  • The adoption of cloud solutions will expand significantly in the near future as companies demand deployment options that enable them to gain benefits more quickly. Companies are investing in a private or public cloud because they require flexible deployment and licensing choices as they increase their digital workforces to automate tasks. Consequently, the majority of market players focus primarily on cloud-based solutions. Amperity, a brand-new company founded in 2022, offers an enterprise data platform designed for transforming fragmented consumer data into revolutionary cloud experiences.
  • Data security and privacy are factors that companies should focus on as there is a possibility of data loss. Data loss is a threat from new cases like AlienBot, Wannacry, Cryptojackling, Fireball, Zeus, and others if a ransom is not paid for the decryption key to restore the data. These threats include spam emails, removable drives, potentially unwanted software, and suspicious websites. Over 600 Windows processes are blocked by the most recent malware, called Clop. Therefore, many organisations now include security in their plans to save money, protect the data, and lower the risk of an attack.
  • The global demand for automation was accelerated and reemphasised by the COVID-19 pandemic. Across industries, there is an increase in cloud-native bots, intelligent data capture, and process discovery bots. There has recently been a significant desire for automation to streamline tasks and cut expenses, as seen by the high rises in utilisation rates from 60 per cent to 95 per cent reported by automation software vendors.

Automation-as-a-Service Industry Segments

An enterprise can use automation-as-a-service to automate its current business processes by gathering and analysing data from its existing applications. It enables a company to switch from a manual process to dependable, accurate, and quick automation procedures across several companies.

The Automation-as-a-Service Market is segmented by Deployment Type (Cloud and On-premise), Business Function (Information Technology, Finance, Human Resources, Sales and Marketing, Operations), Enterprise Size (Large Enterprise, Small and Medium-sized Enterprise), End-user Vertical (BFSI, Telecom and IT, Retail and Consumer Goods, Manufacturing, Healthcare and Life Sciences), and Geography

By Deployment Type
By Business Function
Information Technology
Human Resources
Sales and Marketing
By Enterprise Size
Large Enterprises
Small and Medium-sized Enterprises
By End-user Vertical
Telecom and IT
Retail and Consumer Goods
Healthcare and Life Sciences
Other End-user Industries
North America
Asia Pacific
Latin America
Middle East and Africa

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Automation-as-a-Service Market Trends

This section covers the major market trends shaping the Automation-as-a-Service Market according to our research experts:

BFSI is Expected Hold Major Share

  • The growing adoption of virtual assistants and bots across customer service industries, like BFSI, further expands the studied market growth. The banking industry has intense industrial competition due to many players. Due to the fierce competition, companies are attempting to introduce cost-effective solutions to help them stay ahead of the competition.
  • Process transparency, improved customer service, process optimisation during onboarding, data integrity, and the capacity to successfully comply with regulations of various enforcement agencies, as well as the data-driven nature of the overall banking and financial sector, are some of the factors contributing to the growth of the BFSI Market using robotic automation process.
  • BFSI is one of the significant adopters and investors in the studied market, owing to a high automation adoption rate across business process applications. Automated tellers, draft deposits, and cash deposit machines are some of the initial applications of automation solutions in the sector. The digital automation wave of RPA for BFSI needs to be regulated for future success.
  • The recent COVID-19 gave an unexpected boost to automation adoption, which is also surging demand. According to automation Anywhere, businesses have begun scaling up their digital transformation efforts. The company witnessed a surge in customer demand and interest for a rapidly scalable infrastructure on the cloud.
  • In July 2022, Tangentia, one of Canada's top automation services providers, assists businesses in utilising RPA and AI in the banking and finance industries. TiA Core AI has been built with innovative technologies, including machine learning, natural language processing, computer vision, deep learning, and RPA. TiA Core AI provides services to Soroco, a market leader in task mining tools, to assist with client data. The organisation used TiA Core AI for database installations because it recognises the significance of technological innovation and automation in achieving the high service demands of BFSI clients.
  • In July 2022, Bajaj Allianz General Insurance Company, one of the leading private insurers in India, has automated insurance processes using Amazon Textract, a machine learning (ML) service that automatically extracts text, handwriting, and data from scanned documents. This helps Bajaj Allianz to speed up turnaround times and enhance customer satisfaction.
Automation as a Service Market

North America is Expected to Major Share

  • North America is one of the biggest contributors and investors in the studied market owing to the existence of leading IT companies and the fact that the USA is the home to the bulk of the top suppliers. Additionally, the country is seeing a surge in equity investments in homegrown startups, bringing innovation to the industry. For instance, United States Steel and Carnegie Foundry jointly announced a strategic investment and partnership to accelerate and scale industrial automation driven by advanced robotics and artificial intelligence (AI) in advanced manufacturing, industrial robotics, integrated systems, autonomous mobility, voice analytics and more.
  • Apart from core industries, like manufacturing, the growing automation in other sectors further expands the region's studied market. In June 2022, Cypress launched an all-in-one test automation platform to integrate and transform automated testing into continuous testing. Celtra Creative Automation (CA) for Marketing is a production automation solution for enterprises looking to simplify the creative process and collaboration along the entire production workflow. According to the company, Spotify and Adidas have embraced Creative Automation to solve various content scaling and production challenges.
  • In December 2021, US-based Automation Anywhere Inc. teamed up with FortressIQ, a startup developing automatic process discovery and mining technologies. With this acquisition of FortressIQ, Automation Anywhere will expand its platform with new optimisation capabilities that help to identify which software-based processes in an organisation can be automated on a large, global scale, allowing teams to spend less time on their most typical, repetitive business processes.
Automation as a service market

Automation-as-a-Service Market Competitor Analysis

The automation-as-a-service market is moderately fragmented due to the presence of significant players. Numerous international market players, like IBM, are becoming increasingly involved in acquisition tactics to increase their market share and product innovation. To increase the capabilities of their products and give their clients the newest technology, UiPath and Pegasystems Inc. are progressively implementing collaboration or partnership strategies. Product innovation is one of the significant differentiating factors among market vendors.

  • August 2022 - Re:infer, a London-based natural language processing (NLP) startup for unstructured documents and communications, has been acquired by UiPath. UiPath software robots now can comprehend the context and semantics of emails, online chats, and audio sessions, resulting in better customer support interactions using automation and Artificial Intelligence.
  • February 2022 - Healthnet Global has introduced a smart in-patient room automation system as a one-stop shop for all in-patient requirements called AutoMaid, which contains a contactless sensor, communication pod, and cloud-based patient monitoring tool having an AI-powered triaging system. These features capture real-time body vitals and offer round-the-clock monitoring for previously manually monitored patients.

Automation-as-a-Service Market Top Players

  1. IBM Corporation

  2. Microsoft Corporation

  3. Automation Anywhere, Inc.

  4. Blue Prism Group PLC

  5. Uipath Inc.

*Disclaimer: Major Players sorted in no particular order

Automation-as-a-Service Market

Automation-as-a-Service Market Recent Developments

  • August 2022 - Truist Corporation has expanded its digital investment offerings with Truist Invest, a Robo advisor, and Truist Invest Pro, a hybrid investing solution by automatic making plans and an objective environment as well as a choice for advisor-driven recommendations to businesses related to finance, Healthcare, Sports etc.
  • March 2022 - GreyOrange, a provider of warehouse automation, provided robotic fulfilment systems that H&M used. H&M made this choice in light of previous instances when GreyOrange's warehouse automation technology was successfully implemented at other companies, leading to continuously better performance and higher efficiencies. H&M uses grey-orange robots in its warehouses to complete various tasks.

Automation-as-a-Service Market Report - Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Industry Value Chain Analysis

    3. 4.3 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.3.1 Bargaining Power of Suppliers

      2. 4.3.2 Bargaining Power of Consumers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

    4. 4.4 Assessment of COVID-19 impact on the Industry


    1. 5.1 Market Drivers

      1. 5.1.1 Increased Demand for Automation Across Business Processes

      2. 5.1.2 Increasing Adoption of Cloud Services

    2. 5.2 Market Restraints

      1. 5.2.1 Concerns Regarding Data Security and Privacy


    1. 6.1 By Deployment Type

      1. 6.1.1 On-premise

      2. 6.1.2 Cloud

    2. 6.2 By Business Function

      1. 6.2.1 Information Technology

      2. 6.2.2 Finance

      3. 6.2.3 Human Resources

      4. 6.2.4 Sales and Marketing

      5. 6.2.5 Operations

    3. 6.3 By Enterprise Size

      1. 6.3.1 Large Enterprises

      2. 6.3.2 Small and Medium-sized Enterprises

    4. 6.4 By End-user Vertical

      1. 6.4.1 BFSI

      2. 6.4.2 Telecom and IT

      3. 6.4.3 Retail and Consumer Goods

      4. 6.4.4 Healthcare and Life Sciences

      5. 6.4.5 Manufacturing

      6. 6.4.6 Other End-user Industries

    5. 6.5 Geography

      1. 6.5.1 North America

      2. 6.5.2 Europe

      3. 6.5.3 Asia Pacific

      4. 6.5.4 Latin America

      5. 6.5.5 Middle East and Africa


    1. 7.1 Company Profiles

      1. 7.1.1 Automation Anywhere, Inc.

      2. 7.1.2 Blue Prism Group PLC

      3. 7.1.3 IBM Corporation

      4. 7.1.4 Microsoft Corporation

      5. 7.1.5 Uipath Inc.

      6. 7.1.6 HCL Technologies Limited

      7. 7.1.7 Hewlett Packard Enterprise

      8. 7.1.8 Kofax Inc.

      9. 7.1.9 Nice Ltd.

      10. 7.1.10 Pegasystems Inc.

    2. *List Not Exhaustive


**Subject to Availability
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Automation-as-a-Service Market Research FAQs

The Automation-as-a-Service Market is studied from 2018 - 2028.

The Automation-as-a-Service Market is growing at a CAGR of 26.9% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2018 - 2028.

North America holds highest share in 2021.

IBM Corporation, Microsoft Corporation, Automation Anywhere, Inc. , Blue Prism Group PLC , Uipath Inc. are the major companies operating in Automation-as-a-Service Market.

Automation-as-a-Service Industry Report

In-depth industry statistics and market share insights of the Automation-as-a-Service Market sector for 2020, 2021, and 2022. The Automation-as-a-Service Market research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Automation-as-a-Service Market report PDF.

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