The Global Mechanization-as-a-Service (AaaS) Market is forecast to reach USD 15.47 Billion by 2026, according to a new report by Reports and Data. Mechanization-as-a-Service (AaaS) is the adaptive automated services offered by the technology companies, to various industry verticals in order to automate their process workflow and increase their productivity by a substantial margin. The global Mechanization-as-a-service (AaaS) market is growing predominantly as all the industries are slowly moving towards adapting the minimal amount of human efforts. Artificial intelligence and cognitive Mechanization is the advanced mode of Mechanization already started implementing in the technological conglomerates. More than 88% of the large enterprises have integrated Mechanization in their process inventory, and about 62% of the SMEs will have executed Mechanization systems for their internal operations by the end of the forecast period.
APAC is forecasted to achieve the fastest growth of about 34.9% in the period 2019 – 2026, due to an increase in the adoption of the Mechanization-as-a-service (AaaS) in both the SMEs and large enterprises across all the industry verticals in the countries like China, Singapore, and India. North America holds the highest market share of about 37.6% in 2018 because of the prodigious rate of implementation of the Mechanization services, especially in the conglomerates.
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The information and communication technology sector is rapidly gaining traction owing to rapid technological advancements, high demand for smartphones, laptops, computers and other modern electronic devices, and increasing adoption of latest technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and cloud services. The ICT sector consists of several sections, software, hardware, telecommunications and other services. Factors such as increasing demand for advanced ICT services in BFSI, agriculture, retail, hospital and healthcare, rapid adoption of digitalization, rising number of internet users and high demand of advanced services and devices are expected to drive global market revenue growth during the forecast period. Other factors such as increasing need for managing large data base, rising concerns about data security and increasing investments in R&D activities are expected to boost market growth during the forecast period.
Competitive Landscape:
Competitive landscape of global Keyword market is quite fragmented with regional and global key players. These market players are involved in various strategies including mergers and acquisitions, collaborations, new product launches or corporate deals to retain their market position and expand their product portfolio.
some leading companies operating in the global Keyword market:
Microsoft Corporation, Mechanization Anywhere, HCL Technologies, Kofax Inc., Accenture plc, Pegasystems, IBM Corporation, Hewlett Packard Enterprise, Blue Prism, and Uipath.
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The global market is further segmented into type and application:
Deployment Type Outlook (Revenue: USD Billion; 2016-2026)
- On-Premise
- Cloud
Business Application Outlook (Revenue: USD Billion; 2016-2026)
- Human Resourcing
- Sales & Marketing
- Finance Management
- IT & Logistics
- Operation Management
Component Outlook (Revenue: USD Billion; 2016-2026)
- Robotic Process Mechanization (RPA)
- Artificial Intelligence (AI) & Cognitive Mechanization
Organization Size Outlook (Revenue: USD Billion; 2016-2026)
- Large Enterprises
- SMEs
End-Use Industries Outlook (Revenue: USD Billion; 2016-2026)
- BFSI
- IT & Telecommunication
- Retail & E-commerce
- Government & Public Sectors
- Transportation & Logistics
- Media & Entertainment
- Manufacturing Industries
- Others
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Conclusion:
The Mechanization-as-a-Service market is growing rapidly, driven by the increasing demand for Mechanization in various industries. Cloud-based solutions, intelligent Mechanization, hyper-Mechanization, and process analytics are some of the key trends that are shaping the market. As more organizations adopt AaaS solutions, the market is expected to continue to grow at a rapid pace in the coming years.
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