The global automation COE market value is estimated to be USD 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 USD 13,300 million.
Report Attribute | Details |
---|---|
Automation COE Market Share (2024) | USD 560.8 million |
Market Anticipated Forecast Value (2034) | USD 13,300 million |
Market CAGR (2024 to 2034) | 41.4% |
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As per analysis, the global market registered a valuation of USD 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 USD 400 million.
Attributes | Details |
---|---|
Automation COE Market Size (2019) | USD 82.3 million |
Market Size (2023) | USD 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.
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% |
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 USD 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 USD 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.
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 USD 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
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.
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.
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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
Attribute | Details |
---|---|
Estimated Market Size (2024) | USD 560.8 million |
Projected Market Size (2034) | USD 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 | USD 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 |
The global automation COE market is to grow at 41.4% during the forecast period.
The global automation COE market is likely to be valued at USD 13,300 million by 2034.
The global automation COE market was valued at USD 400 million in 2023.
The United States market value is projected to reach USD 2,400 million by 2034.
The United Kingdom is predicted to witness a CAGR of 39.1% through 2034.
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