The global IT automation market was valued at $192.2 billion in 2021 and it is expected to reach $1450.8 billion at a CAGR of 18.8% between 2022 and 2032. The blending of the physical and virtual worlds permits the development of new business models as new technologies are emerging and advancing. New business models are being introduced by manufacturers to sell digital goods and services, such as digital twins.
IT automation is the process of automating tasks, batch operations, and workflows to lessen the need for manual intervention. IT automation gives professionals the tools and procedures they need to work faster, more effectively, and more affordable. Additionally, IT Automation solutions are made to connect many digital tools by automating workflows from various sources, which is the main distinction between them and common point solutions like native schedulers, home-grown applications, and custom scripts. In other words, the term "IT automation" is broad and covers a wide range of technologies and tactics. As we'll see in the sections that follow, IT Automation solutions provide a wide range of capabilities that can be further classified into different automation-related domains.
IT professionals may save time, lower operating costs, and boost productivity by automating manual, labor-intensive procedures. Additionally, IT can enhance SLA management by minimizing manual interventions into potentially error-prone operations. Moreover, IT can manage workflows from several technologies using one platform thanks to improved integration possibilities. Workflows can be efficiently automated and integrated throughout an environment or across an organization with the help of IT automation technologies.
Source: SAI Research
Furthermore, the cost-effectiveness of industrial automation processes is offset by the substantial initial capital expenditures needed for employee training and technology implementation. Small and medium-sized businesses are reluctant to utilize the benefits of technology because of the high upfront expenses and unpredictable return on investment. However, government initiatives like the Make in India movement and the Government of India's MSME company financing program are anticipated to remove this barrier and soon open up new markets for the solutions.
The demand for goods will likely be driven by the manufacturing industries' further transformation, which will see a transition from manual help to automation. The majority of contemporary manufacturing procedures are currently fully automated, requiring little or no human involvement. Furthermore, the two main growth drivers for industrial automation are supportive government policies in the manufacturing sector and growing attention to economic diversification in emerging nations. In addition, intelligent process automation technologies are being quickly adopted by businesses all over the world to lower operational costs while preserving the effectiveness and efficiency of business operations. The adoption of this technology is anticipated to be fueled by significant advantages including enhanced client experience and increased process efficiency.
Based on offering type, solution and services segment accounted for the largest share of this market and is anticipated to drive the market growth in the future. Business solutions known as automation are created to streamline and automate workflows in favor of slow, antiquated manual procedures, improving accuracy and efficiency. Process complexity is considerably reduced by automation solutions, which apply to both business and IT operations. In IT operations, they simplify workflows and manage complicated technological environments by streamlining procedures like application development and testing. Throughout the projected period, these advantages are anticipated to fuel market expansion.
In terms of technology type, the machine and deep learning segment have been leading the market growth over the past few years. When used in data science, deep learning can provide better and more efficient processing models. Accuracy and results are continuously improved because of its unsupervised learning capability. To create predictions based on past data, intelligent sales and marketing automation packages also use deep learning algorithms. Moreover, several businesses are under increasing pressure to predict market trends and client behavior to compete in a rapidly evolving business environment. Businesses can estimate demand significantly more precisely and effectively by integrating machine learning models into their data analytics.
Based on application type, the business process automation segment holds most of the market share. By automating business processes, bottlenecks that waste time and money are removed. Every aspect of the firm benefited from the increases in productivity and compliance, greater customer service, and increased control and efficiency. Additionally, business process automation allows your staff to perform more efficiently and effectively by saving them a ton of time. Businesses can boost their profitability with business process automation by giving routine jobs to robots and spending more time on things that benefit their clients. These benefits are expected to drive market growth over the forecast period.
Geographically, North America is expected to hold its dominant position in the future due to the presence of numerous key players and the adoption of IT services and solutions across various end-user industries. The rapid development of technology in North American nations is a key factor promoting the expansion of the regional market. On the other side, the Asia-Pacific region is also estimated to drive market growth throughout the upcoming years. Strong governmental initiatives, ongoing projects, and widespread IT infrastructure optimization will all help the APAC market grow.
According to the study, key players such as ABB Ltd (Switzerland), Automation Anywhere (U.S), Capgemini (France), Cognizant (U.S), Emerson Electric (U.S), Genpact (U.S), General Electric (U.S), HCL (India), Honeywell (U.S), Infobip (U.K), Infinitus (China), Mitsubishi Electric (Japan), Omron (Japan), Rockwell Corporation (India), Schneider Electric (France), Snorkel AI (U.S), Siemens AG (Germany), UIPath (Romania), Virtual Operations (U.K), Yokogawa Electric (Japan), Wipro (India), among others are leading the global IT automation market.
|Market Size in 2021||US$ 192.2 Billion|
|Market Volume Projection by 2032||US$ 1450.8 Billion|
|Forecast Period 2022 to 2032 CAGR||18.8%|
|Historical Data||2019, 2020 and 2021|
|Forecast Period||2022 to 2032|
By Offering Type: Platform, Solution and Services & Others
By Technology Type: Natural Language Processing, Machine and Deep Learning, Virtual Agents, Computer Vision, Mini Bots & Others
By Application Contact Center Management, Business Process Automation, Security Management, Application Management & Others
North America, Europe, Asia-Pacific, LAMEA
|Companies covered||ABB Ltd (Switzerland), Automation Anywhere (U.S), Capgemini (France), Cognizant (U.S), Emerson Electric (U.S), Genpact (U.S), General Electric (U.S), HCL (India), Honeywell (U.S), Infobip (U.K), Infinitus (China), Mitsubishi Electric (Japan), Omron (Japan), Rockwell Corporation (India), Schneider Electric (France), Snorkel AI (U.S), Siemens AG (Germany), UIPath (Romania), Virtual Operations (U.K), Yokogawa Electric (Japan), Wipro (India), among others.|
The Global IT Automation Market – by Offering Type:
The Global IT Automation Market – by Technology Type:
The Global IT Automation Market – by Application
The Global IT Automation Market – by Regions: