The automation-as-a-service market in Europe is expected to grow from US$ 843.2 Mn in 2018 to US$ 7,197.1 Mn by the year 2027. This represents a CAGR of 27.7% from the year 2019 to 2027.
The presence of well-developed and economically strong countries such as Germany, France, and the UK and a large concentration of some of the world’s largest companies are two of the major factors that are anticipated to complement the growth of automation-as-a-services in this region. Europe comprises several major manufacturing industries such as aerospace, machinery and equipment, automotive, and food & beverages. Automotive in the EU is considered to be a crucial industry as it significantly contributes to the country’s GDP as well as provides employment to millions of people in the region. The region is home to several major automotive manufacturing and assembly plants. Europe continues to play a vital role in automotive manufacturing, and the facilities are well equipped with the latest technologies to produce sophisticated and quality products. The presence of a robust automotive manufacturing sector is resulting in the adoption of automation solutions and services for performing various tasks such as assembling, pick & place, and handling, as well as quality control applications.
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The List of Companies – Europe Automation-as-a-service Market
- Accenture PLC
- Automation Anywhere, Inc.
- Blue Prism Group plc
- HCL Technologies Limited
- Hewlett Packard Enterprise
- IBM Corporation
- Microsoft Corporation
- NICE Ltd.
- Pegasystems Inc
Advancements in robotics, artificial intelligence, and machine learning are ushering in a new age of automation, as machines match or outperform human performance in a range of work activities, including ones requiring cognitive capabilities. Automation of activities can enable businesses to improve performance by reducing errors and improving quality and speed, and in some cases achieving outcomes that go beyond human capabilities. Automation also contributes to productivity, as it has done historically. At a time of lackluster productivity growth, this would give a needed boost to economic growth and prosperity and help offset the impact of a declining share of the working-age population in many countries. The growth of novel technologies, including cognitive computing, machine learning, and artificial intelligence, is expected to promote the development of automation tools at a rapid pace.
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