What Is The Overview Of The Global Industrial Automation Software Market?
Industrial automation software refers to a category of computer programs designed to control and monitor industrial processes, machinery, and equipment. These software systems are integral components of modern industrial automation solutions, enabling the efficient and reliable operation of manufacturing plants, assembly lines, and other industrial facilities.
Industrial Automation Software Global Market Report 2024 provides data on the global industrial automation software market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The industrial automation software market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Global Industrial Automation Software Market Expected To Grow In Size And Annual Rates?
The industrial automation software market has expanded rapidly, growing from $39.90 billion in 2023 to $44.11 billion in 2024, reflecting a CAGR of 10.5%. Historical growth was driven by the demand for mass production with lower operational costs, increased need for automation software, and rising use of augmented reality technology. The market is forecasted to grow to $66.30 billion by 2028 at a CAGR of 10.7%, fueled by the adoption of Industrial IoT, government support for automation, and investments in industrial operations. Trends include leveraging Industry 4.0 principles, adopting new digital industrial technologies, and integrating innovative automation solutions.
What Main Forces Are Fueling Expansion In The Industrial Automation Software Market?
The rising adoption of IoT devices is poised to bolster the growth of the industrial automation software market. IoT devices are physical objects equipped with sensors, software, and connectivity features that enable data collection, exchange, and action, enhancing automation and optimization across industries. The growing demand for IoT arises from its potential to transform industrial operations through real-time monitoring, predictive maintenance, and data-driven decision-making, resulting in improved efficiency, productivity, and cost savings. IoT integration enhances industrial automation software by offering real-time insights, remote monitoring, predictive maintenance, asset tracking, energy management, and scalability. According to a May 2022 GSM Association report, IoT connections are expected to surpass 23 billion by 2025, up from 15.1 billion in 2021. Consequently, the rising adoption of IoT devices is driving growth in the industrial automation software market.
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What Are The Primary Segments In The Global Industrial Automation Software Market?
The industrial automation software market covered in this report is segmented –
1) By Product: Supervisory Control And Data Acquisition (SCADA), Distributed Control System (DCS), Manufacturing Execution Systems (MES), Human Machine Interface (HMI), Programmable Logic Controller (PLC), Information Technology (IT) And Software Environment Integration Solutions, Production Process Test Systems, Automated Material Handling Systems, Coordinated Data Management Systems, Other Products
2) By Deployment Type: On-Premise, Cloud-Based
3) By End User: Oil And Gas, Chemicals And Materials, Paper And Pulp, Pharmaceuticals And Biotech, Mining And Metals, Food And Beverage, Power, Consumer Goods, Automotive, Other End Users
Which Key Trends Are Driving Changes In The Industrial Automation Software Market?
Companies in the industrial automation software market are focused on incorporating new digital industrial technologies, such as next-generation automation architecture, to stay competitive. Next-generation automation architecture provides a flexible, scalable, and software-driven platform for optimizing and securing industrial systems. For example, in February 2024, Emerson Electric Co., a US-based manufacturer, launched Boundless Automation, a software platform designed to revolutionize industrial manufacturing. The platform aims to eliminate data silos, optimize data use, and improve manufacturing operations through software. This solution is designed to help companies tackle industry challenges and improve performance.
What Is The Leading Region In The Industrial Automation Software Market?
North America was the largest region in the industrial automation software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the market. The regions covered in the industrial automation software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
