Ameco Research Analyst estimated that the global Automation Software Market will increase at a CAGR of more than 16% throughout the forecast period, with a market size of over US$ 75,710 Million by 2030.
Automation software is more than just a collection of "tools" for speeding up your company processes. Whether businesses use basic automation, clever automation, or anywhere in between, there are numerous visible and immediate benefits to automation. It's a clear "next step" in the business's demand for digital transformation.
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Market Dynamics
Intelligent Process Automation (IPA) is a new wave of technologies that can help businesses save money, enhance productivity, and improve employee and customer satisfaction. Robotic process automation (RPA) has evolved into intelligent process automation (IPA), which is driving digital transformations forward. It arose from task automation based on rules.
Intelligent process automation is a set of technologies that work together to automate more comprehensive, end-to-end business processes. It's the progression from simple, rules-based task automation to the management and automation of complete business processes made up of multiple activities.
The use of RPA and different artificial intelligence technologies to automate bigger decision-based business processes that previously required human interaction and execution is known as intelligent process automation (IPA). Furthermore, as robotic automation techniques become more widely adopted, demand for hyper-automation will increase. Hyper automation uses artificial intelligence (AI), machine learning, and robotic process automation to alter current and legacy processes and equipment (RPA). This digital transformation can assist a business in saving money and resources, allowing it to compete in a more competitive market.
Global Automation Software Market Classification
The automation software market is divided into three categories: product, application, and geography. The product segment is categorized into on-premise and cloud. Among products, the on-premise segment accounted for the majority of the share in 2021.
The application segment is divided into BFSI, manufacturing, IT & telecom, retail and consumer goods, healthcare and life sciences, travel and hospitality, education, media and entertainment, and others.
IT and test automation are frequently linked; manual testers, automation engineers, and developers are all part of the testing technique. Software developers employ automated testing tools throughout the production as part of the DevOps process (development and operations).
Automation has shown to be especially beneficial in the healthcare business when it comes to the continuous integration and digitization of patient data. Hospitals and clinics, which are notoriously paper-intensive, were forced to begin converting all of their typed and hand-written documentation to online systems.
One of the things we create that requires a high level of precision is medicine production. Each pharmaceutical product is made with extremely precise equipment calibration and often minute amounts of components.
Automation has proven to be a significant boost to the automotive sector. They've been able to predict fluctuations in supply and demand more precisely because of the addition of machine learning and AI.
Regional Stance
North America, Asia-Pacific, Latin America, Europe, and the Middle East & Africa (MEA) are the regional categorization of the global automation software market. In 2021, the North America region made the most revenue, according to regional segmentation. Artificial intelligence use is high in the region, and smartphone penetration is increasing, which are two key factors driving regional growth. Meanwhile, the Asia-Pacific area is expected to increase at a significant rate from 2022 to 2030, according to the estimate. The region's rapid development can be attributed to the increasing usage of technology in technologically emerging countries like China and India. The expanding use of AI, machine learning, and various automation industries in these nations will give the Asia-Pacific intelligent process automation market multiple potential prospects in the coming years.
Major Players
The top players offered in the report include vendors Act-On Software, Acoustic, ActiveCampaign, ClickDimensions, GetResponse, HubSpot, Salesforce, Oracle, SAS, and Sendinblue.
UiPath, a major enterprise automation software provider, will open Ireland's first automation school in 2021 to train the country's next generation of workers on automation. This launch should aid the company in growing its business and attracting new clients.
Automation Anywhere, an RPA leader, unveiled its AI-Powered Banking Bot in 2020 to reduce SBA loan processing time from three days to three weeks. This new launch is intended to assist the company in growing its BFSI business and expanding its product offerings.
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