Industrial Automation Software Market is estimated to reach a CAGR of 7.8% during the forecast period from 2021 to 2028
The global industrial automation software market size reached USD 33.54 billion in 2020 and is expected to register a revenue CAGR of 7.8% during the forecast period, according to latest analysis by Emergen Research. Increasing adoption of cloud-based industrial automation software is expected to drive market revenue growth in 2021-2028. Besides, growing need for industrial automation software to reduce human errors and increase time efficiency will boost market growth. Demand for automation software has been increasing at a rapid pace. Adoption of cloud-based industrial automation software has been increasing across various industries, including oil and gas, chemicals, pharmaceuticals, automotive, machine manufacturing, and others, are rapidly. Such software ensures secure access to various automated systems through different output devices, and further enables enterprises to access data remotely using computers. These are some major factors driving growth of the global industrial automation software market revenue.
Factors influencing the growth of the Industrial Automation Software market and impacting the growth of the industry are studied extensively in the report. The report considers the COVID-19 pandemic as one of the key influencing factors of the Industrial Automation Software market. The report discusses in detail the positive and negative impact of the pandemic on the Industrial Automation Software industry. The supply chain disruptions and economic volatility have altered the dynamics of the Industrial Automation Software industry. The report explores the effects of the pandemic on the market and its key segments and regions. It also offers a forecast estimation of the market growth in a post-COVID-19 scenario.
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Some Key Highlights from the Report
- Human Machine Interface (HMI) segment is expected to register a significantly robust revenue growth rate during the forecast period due to rising need for implementation and maintenance services as a result of increasing deployment of industrial automation software.
- On-premise segment revenue is expected to expand at a significantly rapid CAGR during the forecast period due to increasing adoption of on-premise industrial automation software among end users, as on-premise deployment offers higher level of safety and security to devices.
- Europe is expected to register a larger revenue growth rate among the regional markets in the global industrial automation software market over the forecast period due to robust presence of international and domestic automation software providers such as Siemens AG, SAP SE., Schneider Electric SE, and ABB Ltd., among others.
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The report further sheds light on the emerging growth opportunities, challenges, market threats, limitations, and factors likely to restrict the growth of the Industrial Automation Software market. The report further discusses in detail the market in international waters and the emerging trends in those regions. It also offers insights into the competitive landscape, market drivers, industrial scenario, and the latest product and technological developments to offer a comprehensive overview of the Industrial Automation Software market landscape.
The Industrial Automation Software research report also includes an insightful study of the prominent players of the industry along with their business overview, strategic planning, and business expansion plans adopted by them. This assists the readers and business owners in formulating strategic expansion and investment plans. The report focuses on mergers and acquisitions, joint ventures, collaborations, partnerships, corporate and government deals, and others. The report also talks about the expansions these prominent players are vying for in the key regions of the market. The report focuses on the detailed analysis of the technological and product developments undertaken by these companies.
The key companies studied in the Industrial Automation Software report are:
Siemens AG, Hitachi Ltd., General Electric Company, Honeywell International Inc., SAP SE, Schneider Electric SE, ABB Ltd., HCL Technologies Limited, Rockwell Automation Inc., and Parsec Automation Corporation.
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On the basis of regional analysis, the market is segmented into the following regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The market is expected to be dominated by North American nations closely followed by European countries. Asia Pacific is expected to show a significant growth owing to recent advancements and rising investments in the R&D sector.
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Emergen Research has segmented global industrial automation software on the basis of type, deployment, end use, and region:
Type Outlook (Revenue, USD Billion; 2018–2028)
- Supervisory Control and Data Acquisition (SCADA)
- Distributed Control System (DCS)
- Manufacturing Execution Systems (MES)
- Human Machine Interface (HMI)
- Programmable Logic Controller (PLC)
Deployment Outlook (Revenue, USD Billion; 2018–2028)
End Use Outlook (Revenue, USD Billion; 2018–2028)
- Process Industry
- Oil and Gas
- Paper and Pulp
- Mining and Metals
- Food and Beverages
- Discrete Industry
- Machine Manufacturing
- Semiconductor and Electronics
- Aerospace and Defence
- Medical Devices
The report addresses the following key points:
- The report provides a forecast of market drivers, restraints, and future opportunities for the Industrial Automation Software market
- The report further analyses the changing market dynamics
- Regional analysis and segmentation of the market with analysis of the regions and segments expected to dominate the market growth
- Extensive competitive landscape mapping with profiles of the key competitors
- In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by the key companies
- Revenue forecast, country scope, application insights, and product insights
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