Chicago, Nov. 29, 2022 (GLOBE NEWSWIRE) -- The global Automation COE Market size to grow from USD 0.3 billion in 2022 to USD 1.5 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 36.9% during the forecast period, according to report by MarketsandMarkets. The Automation COE Market is expected to grow at a significant rate during the forecast period, owing to various business drivers. Some factors driving the growth of the Automation COE Market are significant improvements in ROIs across businesses, reduced data entry errors, and improved quality with reduced risk.
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Scope of the Report
| Report Metrics | Details |
| Market size available for years | 2020–2027 |
| Base year considered | 2021 |
| Forecast period | 2022–2027 |
| Forecast units | USD (Billion) |
| Segments covered | Services, Organization Size, Vertical, and Region |
| Geographies covered | North America, Europe, Asia Pacific, and Rest of the World |
| Companies covered | SS&C Blue Prism (UK), UiPath (US), Automation Anywhere (US), NICE (Israel), Digital Workforce (Finland), HelpSystems (US), Ctrl365 (Argentina), FASTPATH (Netherlands), ElectroNeek (US), AnyRobot (US), Roboyo (Germany), Nintex (US), Chazey Partners (US), Smartbridge (US), Blueprint (US), Robocloud (UK), Verint (US), HelpSystems (US), Cigniti (India), Innominds (US), TestingXperts (US), KiwiQA (Australia), Calidad Infotech (India), CIGNEX (US), ChoiceWORX (US), and XenonStack (US) |
Automation COE is gaining traction across various industry verticals as it streamlines business workflows and automates repetitive tasks. It eliminates the risk of human error, thereby increasing the accuracy and efficiency of business processes. An automation COE is an internal, self-sustaining, and scalable team of experts that runs and maintains software robots. Based on verticals, the Automation COE Market has been segmented into BFSI, IT & ITES, retail & consumer goods, healthcare & life sciences, manufacturing, transportation & logistics, and other verticals (education, government, automotive, and energy & utilities).
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Based on services, the Automation COE Market is segmented into technology assessment & consulting services, design & testing services, governance services, and implementation support services. Automation COE is a framework which combines multiple technologies such as RPA, intelligent automation, workflow automation to automate complex end-to-end business processes that comprises of vital decision-making process and constant learning. Most of the small or mid-sized organizations leverage this opportunity to automate small complex rule-based tasks to reduce manual work and reduce error. Moreover, organizations are looking at enhanced automation capabilities to adopt technology-based automation software solutions to reduce overall operational costs. The rise in demand for advisory services is likely to rise as the non-IT organizations lack the skills to comprehend the complexity involved in establishing advanced automation technologies.
The Automation COE Market has been segmented based on organization size such as SMEs and large enterprises. SMEs are businesses with an employee strength of 1–1,000 and maintain revenues or assets below base level, while large enterprises have an employee strength of more than 1,000. With rising globalization, organizations are looking for advanced automation services to train their internal staff and customers aims to achieve the business goals. Companies require automation technologies to build COE and that can support them to increase their profit margins and reduce overall operational costs. Most of the large enterprises are more inclined to implement automation solutions to build COE in the coming years reason being the presence of complex network of channel partners coupled with complex IT infrastructure across the globe.
The Automation COE Market is bifurcated based on various geographies such as North America, Asia Pacific, Europe, and the Rest of the World (RoW). The RoW encompasses the Middle East & Africa and Latin America. North America is anticipated to lead the market during the forecast period owing to the existence of leading automation COE service providers coupled with increasing investments by the leading vendors to build automation COE in this region. Moreover, the organizations in the region witness need to implement automation solutions to run and maintains software robots and increase ROI.
Market Players
Some major players in the Automation COE Market include SS&C Blue Prism (UK), UiPath (US), Automation Anywhere (US), NICE (Israel), Digital Workforce (Finland), HelpSystems (US), Ctrl365 (Argentina), FASTPATH (Netherlands), ElectroNeek (US), AnyRobot (US), Roboyo (Germany), Nintex (US), Chazey Partners (US), Smartbridge (US), Blueprint (US), Robocloud (UK), Verint (US), Appian (US), Cigniti (India), Innominds (US), TestingXperts (US), KiwiQA (Australia), Calidad Infotech (India), CIGNEX (US), ChoiceWORX (US), and XenonStack (US).
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