asia pacific automation-as-a-service Market

The automation-as-a-service market in Asia-Pacific is expected to grow from US$ 680.4 Mn in 2018 to US$ 6,432.0 Bn by the year 2027. This represents a CAGR of 29.2% from the year 2019 to 2027.

The automation-as-as-service market is driven by the growing digitization, and increasing focus of the companies Australia, China, India, Japan, South Korea, and Rest of Asia-Pacific are the major contributors to the automation-as-a-service market in Asia-Pacific. The region has a more progressive economic outlook with the presence of developing countries such as China, India, and developed county like Japan. Owing to the presence of a large number of SMEs, coupled with the rapid expansion of the retail sector, the adoption of the automation services is projected to gain high momentum in the future. Furthermore, continuous plans for digitization by government authorities in various countries will also accelerate the growth of the automation-as-a-service market.

With the increasing competition globally, the business is ensuring their digital presence and are efficiently utilizing digital technology in order to sustain in the market. Organizations in the present era, irrespective of their size, are adopting digital technologies for effective functioning and cost reduction. Although digitalization is taking place on a huge scale, several SMEs currently are still skeptical about adopting it. Factors such as fear of risks, lack of right understanding, and expenditures incurred on new technologies, among others, are probably responsible for the limited adoption. However, there are several open opportunities for SMEs prevailing in the digital world. They assist the SMEs to efficiently compete with larger enterprises as technology is highly scalable and flexible.

Thus growing focus of SMEs towards the adoption of automation is supporting the growth of the automation-as-a service market.
The automation-as-a-service market, by business function, is segmented into sales & marketing, finance & operations, human resource, and information technology. The finance and operations hold a significant share of the automation-as-a-service market and are expected to grow at a high CAGR during the forecast period. Automating finance processes offers five major benefits such as, saving time, ensuring greater consistency, reducing the likelihood of error, real-time data collection that increases the utility of business information, and reducing the chance of fraud. The numerous organizations are increasingly focusing on automating core processes such as accounts payable, bookkeeping, invoicing and accounts receivable, payroll, tax compliance, and expense management to save their finance team's time and gain high visibility in the operations. The growing demand for automation across the finance and operation segment is expected to drive the growth of the automation as-a-service market.

The overall Asia-Pacific 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 Asia-Pacific automation-as-a-service market. It also provides an overview and forecast for the Asia-Pacific automation-as-a-service market based on all the segmentation provided with respect to the Asia-Pacific 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 Asia-Pacific 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.