The global automation COE market value is estimated to be US$ 560.8 million in 2024. The market is anticipated to advance at a robust CAGR of 41.4% during the projected period. By 2034, the market value is forecast to reach an impressive value of US$ 13,300 million.
| Report Attribute | Details |
|---|---|
| Automation COE Market Share (2024) | US$ 560.8 million |
| Market Anticipated Forecast Value (2034) | US$ 13,300 million |
| Market CAGR (2024 to 2034) | 41.4% |
Automation COE Market Trends
- The growing need for well-informed decision-making in business organizations and their processes.
- Use of automation COE transformation for skill development and empowerment of enterprise employees.
- Emerging trends in international business dynamics and rapid digital transformation of market operations.
Global Automation COE Market Analysis from 2019 to 2023 Compared to Forecast Outlook
As per analysis, the global market registered a valuation of US$ 82.3 million in 2019. The advent of Industry 4.0, followed by the digitization of business operations during the pandemic, drove the market at 37.2% CAGR from 2019 to 2023. By the end of 2023, the global market value reached US$ 400 million.
| Attributes | Details |
|---|---|
| Automation COE Market Size (2019) | US$ 82.3 million |
| Market Size (2023) | US$ 400 million |
| Market (CAGR 2019 to 2023) | 37.2% |
The sales of automation COE market have increased in recent years due to shifting business trends toward digital platforms such as cloud computing and deep data networks. Also, incorporating COE technology into corporate processes is expected to expand over the coming years with the realization of how strategically important automation is to remain competitive and in line with larger industry developments.
Prominent Factors to Consider for the Growth of Automation COE Market
Automation COEs are appealing in part because of their ability to plan and execute automation projects strategically, making the use of available resources in line with overarching company objectives. Also, the demand for scalability and standardization, along with the need to minimize expenses by eliminating duplicity of undertakings, has popularized the COE in automation.
To facilitate intelligent decision-making processes, organizations across all economies are now making use of enterprise automation systems. By incorporating artificial intelligence and improved data analytics capabilities into automation systems, Automation COE helps enterprises to get valuable insights into the contemporary market.
Establishing the concept of automation COE management offers a chance for staff empowerment as it ensures that workers have the skills necessary to coordinate. It also promotes a culture of continuous learning inside the company's organization by assisting employees to become experts in automation technology.
Comparative View of Adjacent Automation COE Market
The comparison below explores the underlying factors that could be instrumental in determining the future scenario for the establishment of a center of excellence for automation technology. Trends in the process automation and instrumentation market suggest promising possibilities in the demand side of the COE market. Meanwhile, the IT robotic automation market trends emphasize COE advancement on the supply side.
Automation COE Market:
| Attributes | Automation COE Market |
|---|---|
| CAGR (2024 to 2034) | 41.4% |
| Growth Factor | Enterprises are investing in automation solutions that improve operational stability as the value of resilience has become more apparent. |
| Market Opportunities | The quick development of cyber-physical systems and ML has been noted as an attempt to expand the automation COE trends. |
| Market Challenges | A lack of real-time insight into COE operations and loss of strategic value as a stand-alone COE setup. |
Process Automation and Instrumentation Market:
| Attributes | Process Automation and Instrumentation Market |
|---|---|
| CAGR (2024 to 2034) | 5.5% |
| Growth Factor | Increasing adoption of Industry 4.0 concepts in industrial sectors such as chemicals, pharmaceuticals, food & beverage, and oil & gas. |
| Market Opportunities | Advancement of automation integration from the point of raw material acquisition to the point of complete product development. |
| Market Challenges | The expenses related to servicing, maintaining, and upgrading process automation and instrumentation software and solutions. |
IT Robotic Automation Market:
| Attributes | IT Robotic Automation Market |
|---|---|
| CAGR (2024 to 2034) | 15.7% |
| Growth Factor | The IT sector has been transformed by the automation of back-office tasks, workflow processes, software support, and business administration. |
| Market Opportunities | Growing intricacy in the administration and operations of information technology companies. |
| Market Challenges | High cost of automation, installation of devices, as well as the need for qualified personnel to operate the system. |
Country-wise Insights
The table below provides a glimpse of the promising future projections for automation COE service providers in three top-performing countries. Based on the scale of business, China and the United States acquire more significant shares of the global market due to the implementation of robotics process automation. However, the United Kingdom is expected to record a growth of 39.1% from 2024 to 2034.
| Regional Market Comparison | CAGR (2024 to 2034) |
|---|---|
| United States | 37.5% |
| China | 38.2% |
| United Kingdom | 39.1% |
COE Deployment Strategies are Constantly Evolving in the United States
In the United States, excellence in robotic automation is anticipated to drive the regional automation COE market at 37.5% per year through 2034. Further, the United States automation COE market value is predicted to reach almost US$ 2,400 million by 2034 end.
Automation COE service providers in the United States are involved in creating and using automation solutions that support resilience and business continuity. Automation COEs in the country now act as knowledge centers, keeping abreast of new developments in the industry and assisting companies in promoting creativity and competitiveness.
The United Kingdom is Focusing More on the Development of the COE Framework
In Europe, the growing demand for advanced automation hubs is anticipated to progress the United Kingdom market at 39.1% per year through 2034. By the end of 2034, the total revenue from the adoption of automation COE is predicted to reach nearly US$ 553 million.
In the United Kingdom, several companies take regulatory compliance and efficient risk management solutions into account. So, the establishment of automation excellence hubs is surging in the country to guarantee that strategic automation centers follow industry standards and laws.
China to Remain Ahead in Automation COE Implementation in Asia
The demand for the automation COE market in China is anticipated to rise with 38.2% CAGR from 2024 to 2034. The net valuation of the market is expected to be around US$ 2,100 million during the forecast period.
As the business ecosystem in China has turned agile, interdepartmental cooperation of IT, operations, and business processes center of excellence for automation is getting more adopted. Also, the automation competition center speeds up cross-functional teams’ coordination and proficiency to guarantee that automation solutions meet technical and commercial objectives.
Category-wise Insights
Large Enterprises Still Hold a Sizable Share of the Global Market
Over the next ten years, the adoption of automation COE by large enterprises is poised to continue at a CAGR of 37%.
| Attributes | Details |
|---|---|
| Top Organization Size Segment | Large Enterprises |
| Market Segment CAGR from 2024 to 2034 | 37% |
| Market Segment CAGR from 2019 to 2023 | 41.2% |
Modular automation systems that can adjust to shifting needs and COE best practices are in high demand from large enterprises in this segment. However, the growing adoption of COE for smart manufacturing is expected to strengthen the SME segment through the projected years.
Technology Assessment & Consulting Services Garner Higher Revenue in COE
The COE services segment for technology assessment and consulting to users could progress at 36.8% CAGR through 2034.
| Attributes | Details |
|---|---|
| Top Service Type Segment | Technology Assessment & Consulting |
| Market Segment CAGR from 2024 to 2034 | 36.8% |
| Market Segment CAGR from 2019 to 2023 | 41% |
Technology assessment and consulting services by COE providers help enterprises streamline automation efforts, making it possible to grow their automation projects effectively and painlessly. Meanwhile, COE services for governance and design & testing are the other two promisingly growing segments in this category.
Competitive Landscape
Some leading market players hold almost 50% of the global market share, making it noticeably less competitive for new players. The market could remain consolidated during the forecast years as smaller organizations find it difficult to keep up with the quick evolutions and advancements in automation technology. However, federal support in emerging economies of Asia for digital transformation and COE consulting is expected to fragment the market to some extent.
Recent Developments in the Global Automation COE Market
- In July 2023, Smart Data Solutions Company announced that it was expanding into India by opening a new Center of Excellence in the state of Tamil Nadu. This center represents a significant turning point for SDS, which is an AI-based platform technology business offering interoperability and healthcare process automation solutions. The company services mostly use artificial intelligence, data analytics, and intelligent automation to enhance quality, reduce costs, and simplify workflows of business operations in healthcare sectors. Its platform was created with Java, Python, HTML, and SQL on a scalable, HITRUST-certified, SOC2-compliant architecture, which, in turn, makes new technologies like OCR and robotic process compatible.
- NICE Ltd. released its robotic process automation (RPA) service in an updated version 7.6 in December 2021. The revised edition includes recommendations for the best-automated procedures based on return on investment and document digitization. In addition to this, it consists of a resource center featuring built-in low-code or no-code shareable resources to help enterprises reduce the time required for process analysis. Other cutting-edge capabilities of the product line help optimize the value of automation projects and increase return on investment for large enterprises.
Key Players Profiled in the Automation COE Market Report
- SS&C Technologies Holdings, Inc.
- UiPath, Inc.
- Automation Anywhere, Inc.
- Nice Ltd.
- Help Systems, LLC
Automation COE Market Report Scope
| Attribute | Details |
|---|---|
| Estimated Market Size (2024) | US$ 560.8 million |
| Projected Market Size (2034) | US$ 13,300 million |
| Anticipated Growth Rate (2024 to 2034) | 41.4% |
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Market Analysis | US$ million for Value and Units for Volume |
| Key Regions Covered | North America, Latin America, Europe, Middle East & Africa (MEA), East Asia, South Asia and Oceania |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, Spain, Italy, France, United Kingdom, Russia, China, India, Australia & New Zealand, GCC Countries, and South Africa |
| Key Segments Covered | By Organization Size, Service Type, End User, and Region |
| Key Companies Profiled | SS&C Technologies Holdings, Inc. UiPath, Inc. Automation Anywhere, Inc. Nice Ltd. Help Systems, LLC |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
Key Segments Covered by Automation COE Industry Survey Report
By Organization Size:
- Small and Medium Enterprises (SMEs)
- Large Enterprises
By Service Type:
- Technology Assessment & Consulting
- Design & Testing
- Governance
- Implementation Support
- Other Service Types
By End User Verticals:
- Banking, Finance Services, and Insurance (BFSI) Sector
- Healthcare & Life Sciences Institutions
- Manufacturing Industries
- Information Technology (IT) & IT Excellence Services (ITES)
- Retail & Consumer Goods Distribution
- Transportation & Logistics Sector
- Other End User Verticals
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- The Middle East and Africa (MEA)
Source: Future Market Insights