LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global automation-as-a-service market to grow at a CAGR of close to 20% during the period 2018-2022, according to their latest market research report.
The proliferation of IoT and intelligent devices in automation is one of the major trends being witnessed in the global automation-as-a-service market. IoT is an interconnection between devices and allows the exchange of large volumes of data stored in the cloud. The adoption of IoT devices has encouraged the growth of automation as these devices provide centralized access to business operations through a number of connected devices. This data, however, needs to be organized to simplify data analysis and presentation. IoT enables better connectivity of the devices used in automation and resolves all the crucial, business process-related issues.
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In this report, Technavio analysts highlight the growing demand for the automation of business processes as a key factor contributing to the growth of the global automation-as-a-service market:
Global automation-as-a-service market: Growing demand for the automation of business processes
Automation-as-a-service helps in streamlining the workflow of business processes by automating repetitive tasks such as asset management, ticketing systems, compliances, and auditing. These tasks are very time-consuming, and the time spent on them can be used to do more vital work. Automation also allows organizations to shift from slow manual business processes to more reliable and faster processes across the organization.
According to a senior analyst at Technavio for IT professional services, “The global automation-as-a-service market is growing rapidly owing to the increasing demand for automation. It enables organizations to maintain all their transactions records and also ensure the security and privacy of the data, which is a major concern for organizations.”
Global automation-as-a-service market: Segmentation analysis
This market research report segments the global automation-as-a-service market into the following end-components (services and solutions) and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas was the leading region for the global automation-as-a-service market in 2017. It accounted for a market share of approximately 43%. It was followed by EMEA and APAC. APAC is expected to project the fastest growth during the period 2018-2022.
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