Global Automation Center Of Excellence Market Size Forecast 2024 - 2033
23 Dec, 2024
What Is The Overview Of The Global Automation Center Of Excellence Market?
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.
Automation Center Of Excellence Global Market Report 2024 provides data on the global automation center of excellence market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The automation center of excellence market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Estimated Market Size And Expected Annual Growth Rates For Global Automation Center Of Excellence?
The automation center of excellence market has expanded rapidly, growing from $0.41 billion in 2023 to $0.56 billion in 2024 at a CAGR of 37.2%. Growth in this period is linked to increasing business process complexity, cost pressures, scalability demands, and regulatory compliance. By 2028, the market is forecasted to reach $2.02 billion at a CAGR of 37.5%. Growth will be supported by advancements in data privacy, remote workforce management, and intelligent automation. Emerging trends include ethical AI practices, robotic process orchestration, process mining, low-code/no-code platforms, and cloud-based automation.
What Are The Leading Drivers Of Growth In The Automation Center Of Excellence Market?
The increasing adoption of industrial automation is expected to spur the growth of the automation center of excellence market. Industrial automation involves the use of control systems and machinery to automate manufacturing processes. The growing trend of industrial automation is influenced by technological, economic, and market forces that drive manufacturers to adopt automation as a critical component of operational strategy. Centers of Excellence (CoE) play a key role in overseeing automation efforts by managing risks, ensuring compliance with regulations, and adhering to best practices to prevent accidents and security breaches. The International Federation of Robotics reported the installation of 517,000 new industrial robots in 2021, signaling a 31% growth year-over-year. Consequently, the rise in industrial automation is boosting the demand for automation centers of excellence.
Get Your Free Sample of the Global Automation Center Of Excellence Market ReportHow Are The Segments Defined Within The Global Automation Center Of Excellence Market?
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
How Are New Trends Expected To Influence The Growth Of The Automation Center Of Excellence Market?
In the automation center of excellence market, companies are advancing with new technologies such as automation cloud robots to stay competitive. These robots streamline operations, enhance efficiency, reduce errors, and allow human employees to focus on higher-value tasks. For example, in May 2022, UiPath Inc., a robotic process automation company in the US, launched the Next-Gen UiPath Automation Cloud Robots. This innovation enables customers to deploy unattended robots instantly without requiring IT resources or infrastructure, taking advantage of cloud resources for improved performance and functionality.
Which Region Drives The Highest Growth In The Automation Center Of Excellence Market?
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.