The global automation software market is anticipated to grow at a CAGR of around 16.9% during the forecast period 2021 to 2027 and to reach around US$ 46.6Bn by 2027.
Government is focused on strengthening the infrastructure in order to support the adoption of advanced devices. In 2021, the government of US said it will spend US$ 10.9 Bn on intelligent process automation (IPA). While artificial intelligence (AI) and robotic process automation (RPA) services are expected to have lower spending with US$ 4 Bn and US$ 5.4 respectively. The adoption of intelligent process automation in every industrial vertical approach towards enhancing the operational efficiency and reduce the cost is increasing. Favorable business schemes and policies by the local government and emergence of SME enterprises with innovative solutions and increasing investment for automation in various industry verticals are major factors expected to drive the growth of global automation software market. In addition, increasing merger & acquisitions and novel product entries in order to grow the business and enhance the customer base will drive the market for automation software.
In 2021, UiPath a leading enterprise automation software company launched first automation school in Ireland to educate the next generation of the country’s workforce on automation. This launch is expected to help the company to enhance the business and attract new customers.
In 2021, Sopra Banking Software launched a software “Marketplace” to accelerate platformization and modernization of banking systems. This can help BSFI’s to leverage digitalization for banking, customer service, security, documentary management, data management, and visualization.
In 2020, Automation Anywhere, a leader in RPA, launched its AI-Powered Banking Bot to Expedite SBA Loan Processing from 3 Days to 3 Weeks. This product launch is expected to help the company to enhance the business and strengthen its product offerings in the BFSI sector
In 2020, Temenos AG launched its digital banking service software solutions in the U.S. The software will let clients launch digital-only bank accounts for 90 days, thus letting the banks to meet the growing consumer demand and stay competitive in the market. Temenos AG is a banking based technology service provider from Switzerland. This is expected to help the company to enhance the business and increase the revenue share.
Factors such as lack of developed infrastructure in developing countries for the adoption of advanced devices and lack of skilled professionals are factors expected to hamper the growth of global automation software market. In addition, high cost associated to integration of advanced solution to present structure is expected to challenge the growth of target market. However, increasing government spending on training new professionals, high investment by major players, and new product launches are factors expected to create new opportunities for players operating in the automation software market over the forecast period. In addition, increasing partnership between regional and international players is expected to support the revenue growth of target market.
Segment Analysis By Region
The market in Asia Pacific is expected to witness faster growth in the target market due to high government spending on infrastructure. Rapid industrialization in developing countries with the advent of artificial intelligence, machine learning and robotic technology are revolutionizing the economies with automated systems. Government expenditure on development of healthcare is increasing; inclination towards deployment of advanced robotics in order to facilitate the service this is expected to augment the automation software market growth.
The global automation software market is highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.
Automation Software Market Segment Analysis, 2019
The global automation software market is segmented into product type and applications. The product type segment is bifurcated into on-premises and cloud. Among product type, the cloud segment is expected to witness faster growth in the global automation software market. The application segment is divided in to BFSI, IT and telecoms, retail and consumer goods, travel and hospitality, healthcare and life sciences, education, media and entertainment, manufacturing, and others. Players operating in the global automation software market are ClickDimensions, Act-On Software, Oracle, ActiveCampaign, Sendinblue, SAS, Acoustic, Salesforce, GetResponse, and HubSpot.
Market By Product
Market By Application
IT and Telecoms
Retail and Consumer Goods
Travel and Hospitality
Healthcare and Life Sciences
Media and Entertainment
Market By Geography
• Rest of Europe
• South Korea
• Rest of Asia-Pacific
• Rest of Latin America
Middle East & Africa
• South Africa
• Rest of Middle East & Africa
The global automation software market in 2027 is expected to be above US$ 46.6 Bn.
The CAGR of the global automation software market from 2020-2027 is above 16.9%.
In product the on-premises segment is growing at faster pace.
Favorable business policies by the government and emergence of small and mid-size enterprises with innovative solutions and increasing investment for automation in various industry verticals are major factors are expected to drive the growth of global automation software market.
In the global market the Asia Pacific region is expected to grow faster.
Some of the players considered in the report scope are ClickDimensions, Act-On Software, Oracle, and ActiveCampaign, Sendinblue.
The North America is expected to account for major revenue share in the global market.