Industrial Automation Software Market to grow by USD 5.25 billion between 2022 - 2027, Growth Driven by the Need to reduce overall operational expenses - Technavio

NEW YORK, Oct. 10, 2023 /PRNewswire/ -- The Industrial Automation Software Market report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the industrial automation software market between 2022 and 2027 is USD 5.25 billion. The emergence of automation software solutions on the cloud is identified as one of the major growth drivers in the market. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

The demand for cloud-based automation software solutions drives the market. Cloud-based solutions help industrial operators to reduce costs, enhance functionality, and achieve greater flexibility. Cloud-based automation software eliminates the costs associated with hardware and IT infrastructure. The cloud-based architecture allows users to view data on devices such as tablets and smartphones. Such devices can also be used as portable HMIs to monitor remote machines and enable field technicians to access and control various processes. Hence, many such benefits are increasing the adoption of cloud-based industrial automation solutions among end-users, which is driving the growth of the segment. 

Market Challenge -

• Cybersecurity threats challenge the industrial automation software market.

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The industrial automation software market is segmented by Product (SCADA software, MES, DCS software, HMI software, and PLC software), End-user (Process industry and Discrete industry), and Geography (APAC, North America, Europe, Middle East and Africa, and South America). 

• By Product, the SCADA segment will be significant during the forecast period. The growth of the segment can be attributed to factors such as the rise in smart grid technology in the power industry, the rise in smart wastewater treatment technology, and the need to reduce energy losses in metal, mining, and mineral processing industries.
• By geography, APAC will account for 39% of the market growth during the forecast period. View a FREE Sample Report for insights into the contribution of all the segments and regional opportunities in the report.

Key Companies in the industrial automation software market:

ABB Ltd., Advantech Co. Ltd., AMETEK Inc., Baosteel Group Corp., Beckhoff Automation GmbH and Co. KG, Eaton Corp. Plc, Emerson Electric Co, General Electric Co., Hitachi Ltd., Honeywell International Inc., Mitsubishi Electric Corp., OMRON Corp., Parsec Automation Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Tata Consultancy Services Ltd., TOSHIBA CORP, Yokogawa Electric Corp., Oracle Corp.

Related Reports:

The Global Retail Automation Market size is estimated to grow at a CAGR of 11.23% between 2022 and 2027. The size of the market is forecast to increase by USD 11,407.8 million. 

The field force automation market size is estimated to grow at a CAGR of 17.32% between 2022 and 2027. The market size is forecast to increase by USD 2,153.16 million. 

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Product

Market Segmentation by End-user

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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