The adoption of IT applications by various enterprises, value shift from hardware to software, cyber security as a service, and strengthening digital capabilities through partnership and merger & acquisitions, are positively impacting the service market. In addition to this, the automated lifecycle management services help a company to develop the best effective methods for each stage of the software application process, including research, requirements planning, engineering, design, programming, testing, risk management, defect tracking, and measurement, which are expected to propel the growth of the automation lifecycle services market. However, complexity of application and data threat hampers the growth of the market. Furthermore, adoption of artificial intelligence in the field of lifecycle automation generates a great opportunity in the automation lifecycle market.
In addition, automated lifecycle management services support the development of software, agile, and dev-ops; integrating these developments helps teams to collaborate with the organization more effectively. Furthermore, this service reduces operational cost of the companies and increases both, speed and reliability of task implementation, development, and support. However, cost of investment and loss of flexibility creates a barrier in this emerging market.
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Impact of COVID-19 on Automation Lifecycle Services Market-
► The outbreak of COVID-19 virus in December 2019 led to the spread of disease in majority of the countries around the globe with the World Health Organization declaring it a public health emergency. The pandemic has impacted almost every sector and is expected to moderately affect the global automation lifecycle services market.
► The industries are shifting their workplaces from manual to digital, as per the demands of its end users amid COVID-19 pandemic. Automation in the fields of healthcare, insurance, and financial services creates challenges for the key market players to develop applications. The complexity in this field creates a huge demand in the area of automation to manage the workload of the industry.
The new business model for various companies changed after the pandemic hit various nations. The business processes which were performed using the specific hardware are now performed using automated software. This kind of software reduces the risk of making mistakes in the business application. Furthermore, the software provides various other services such as cyber-security, which is almost the requirement of the current scenario, where the data of the users and the companies need to be protected from the malicious person.
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Key Benefits of the Report:
► This study presents analytical depiction of the automation lifecycle services market along with the current trends and future estimations to determine the imminent investment pockets.
► The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
► The current market is quantitatively analyzed to highlight the growth scenario of the market.
► Porter’s five forces analysis illustrates the potency of buyers and suppliers in the market.
► The report provides a detailed market analysis based on the present and future competitive intensity of the market.
The adoption of automated lifecycle services by enterprises ensures the cost reduction of its services to the end users. The business functions are performed automatically based upon the command given by the company, including the order placement and inventory management. In addition, this software helps to monitor and measure the capabilities of the enterprise, increase in the efficiency and productivity of the businesses. Furthermore, this service provides various other services like logistics management, product management and other business-related functions, which reduce the overall operating cost with less labor force. Hence, these factors are expected to drive growth of the global automation lifecycle services market during the forecast period.
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Key Market Players:
► Siemens AG
► ABB Ltd.
► Schneider Electric SE
► Danaher Corporation
► Omron Corporation
► Emerson Electric Co.
► Mitsubishi Electric Corporation
► Rockwell Automation, Inc.
► Honeywell International Inc.
► Yokogawa Electric Corporation
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