Global Automation Center Of Excellence Market Report 2024: Market Size, CAGR, Lucrative Segments And Top Regions

Posted by ramacharitbrc on May 10th, 2024

Overview and Scope

An automation center of excellence (CoE) refers to an internal team within an organization that focuses on streamlining automation processes, providing structure, and helping to scale the use of automation across the enterprise. The CoE typically consists of experts who specialize in automation technologies and best practices, and work to ensure that automation initiatives are implemented effectively and efficiently.

Sizing and Forecast

The automation center of excellence market size has grown exponentially in recent years. It will grow from --content--.41 billion in 2023 to --content--.56 billion in 2024 at a compound annual growth rate (CAGR) of 37.2%.  The growth in the historic period can be attributed to increasing complexity of business processes, cost pressures, demand for scalability and flexibility, regulatory compliance, data explosion.

The automation center of excellence market size is expected to see exponential growth in the next few years. It will grow to .02 billion in 2028 at a compound annual growth rate (CAGR) of 37.5%.  The growth in the forecast period can be attributed to increasing data privacy and ethics, increasing regulatory changes, remote workforce management, cybersecurity concerns, demand for intelligent automation, increased focus on hyperautomation. Major trends in the forecast period include ethical ai and responsible automation, robotic process orchestration (RPO), process mining and discovery, low-code/no-code platforms, intelligent process automation (IPA), cloud-based automation.

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Segmentation & Regional Insights

The automation center of excellence market covered in this report is segmented –
1) By Services: Technology Assessment & Consulting, Design & Testing, Governance, Implementation Support

2) By Organization Size: Large Enterprises, Small And Medium Enterprises (SMEs)

3) By Verticals: Banking, Financial Services and Insurance, Information Technology And Information Technology Enabled Services, Retail And Consumer Goods, Healthcare And Life Sciences, Manufacturing, Transportation And Logistics, Other Verticals

North America was the largest region in the automation center of excellence market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automation center of excellence market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth

Increasing industrial automation is expected to propel the growth of the automation center of excellence market going forward. Industrial automation refers to the use of control systems, machinery, and technologies to automate industrial processes and tasks, typically in manufacturing and production environments. The increasing adoption of industrial automation is driven by a combination of economic, technological, and market forces that compel manufacturers to embrace automation as a strategic imperative. The CoE helps mitigate risks associated with industrial automation initiatives by providing oversight, governance, and risk management processes. This includes ensuring compliance with safety regulations, cybersecurity standards, and industry best practices to minimize the risk of accidents, disruptions, or security breaches. For instance, in October 2022, according to the International Federation of Robotics, a Germany-based non-profit organization, 517,385 new industrial robots will be installed in industries worldwide in 2021. This indicates a 31% growth rate year over year. Therefore, the increasing industrial automation drives the automation center of excellence market.

Key Industry Players

Major companies operating in the automation center of excellence market are Microsoft Corp., International Business Machine Corporation, Tata Consultancy Services (TCS) Ltd., Capgemini SE, Infosys Limited, Micro Focus International plc, Nice Ltd., Wipro Limited, BMC Software Inc., SS&C Technologie Holdings Ltd. , Pegasystems Inc., UiPath Inc., Verint Systems Inc., SAP SE, Zensar Technologies Inc., HelpSystems Inc., Blueprint Technologies Inc., Roboyo Group Ltd., Testingxperts Pvt. Ltd., ChoiceWORX Inc., Kiwiqa Services Private Limited, Digital Workforce Services plc, ElectroNeek Robotics Inc., Smartbridge Inc., XenonStack Pvt. Ltd

The automation center of excellence market report table of contents includes:
1. Executive Summary

2. Market Characteristics

3. Market Trends And Strategies

4. Impact Of COVID-19

5. Market Size And Growth

6. Segmentation

7. Regional And Country Analysis

……….

27. Competitive Landscape And Company Profiles

28. Key Mergers And Acquisitions

29. Future Outlook and Potential Analysis