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  1. Home
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  3. Global Industrial Automation Software Industry to Reach USD59.5 Billion by 2029

Global Industrial Automation Software Industry to Reach USD59.5 Billion by 2029

17 August, 2022
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By Bhalchandra Chorghade, Editor, CNCTimes.com

The "Industrial Automation Software Market by Product, Deployment Type, End User, and Geography - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.

This report provides an in-depth analysis of the industrial automation software market across five major geographies and emphasizes on the current market sizes and shares, recent developments, and forecasts till 2029. The industrial automation software market is expected to reach $59.5 billion by 2029, growing at a CAGR of 7.4% during the forecast period 2022-2029.

The growth of this market is driven by the increasing demand for automation for qualitative and reliable manufacturing, the growing need for mass production with reduced operating costs, and the surging adoption of industry 4.0 & other enabling technologies. However, the high cost of implementing factory automation solutions is expected to restrain the growth of this market.

Emerging automation-driven industries in developing countries and growth prospects in the industrial analytics space are expected to create significant growth opportunities for the stakeholders in this market. However, the cyber risks associated with automated systems are expected to remain a major challenge for market growth.

The study offers a comprehensive analysis of the global industrial automation software market based on product type (enterprise-level software and plant-level software), deployment mode (on-premise and cloud-based), end-use industry (oil & gas, chemicals & materials, paper & pulp, pharmaceuticals & biotechnology, mining & metals, food & beverage, power, consumer goods, automotive, tools & machinery, semiconductors & electronics, aerospace & defense, and other end-use industries). The study also evaluates industry competitors and analyses the regional and country-level markets.

Based on product type, the global industrial automation software market is segmented into enterprise-level software and plant-level software. The enterprise-level software segment is further sub-segmented into product lifecycle management (PLM), enterprise resource planning (ERP), and other enterprise-level software. The plant-level software segment is further sub-segmented into manufacturing execution systems (MES), supervisory control and data acquisition (SCADA), distributed control systems (DCS), programmable logic controllers (PLC), human-machine interface (HMI), and other plant-level software.

In 2022, the plant-level software segment is expected to account for the largest share of the global industrial automation software market. The large market share of this segment is attributed to the increasing requirement for mass production and connected supply chain, the rising adoption of industrial automation in process and discrete industries, streamlining complex processes of the manufacturing industry, and the need for inventory process management. Furthermore, the plant-level software segment is expected to register the highest CAGR during the forecast period.

Based on deployment mode, the global industrial automation software market is segmented into on-premise and cloud-based. In 2022, the on-premise segment is expected to account for the largest share of the global industrial automation software market. The large market share of this segment is mainly attributed to the increasing need for security solutions, security issues related to cloud-based deployment, the surge in the adoption of industry 4.0, the incorporation of technologies, and the increasing need to protect internal processes & systems. Furthermore, the plant-level software segment is expected to register the highest CAGR during the forecast period.

Based on end-use industry, the global industrial automation software market is segmented into oil & gas, chemicals & materials, paper & pulp, pharmaceuticals & biotechnology, mining & metals, food & beverage, power, consumer goods, automotive, tools & machinery, semiconductors & electronics, aerospace & defense, and other end-use industries. In 2022, the automotive segment is expected to account for the largest share of the global industrial automation software market. The large market share is attributed to the increasing need for quality control and material handling processes, the need to reduce the costs of maintaining a large human workforce, the increasing demand for automation for qualitative and reliable manufacturing, and the growing need for mass production with reduced operating costs. However, the pharmaceuticals & biotechnology segment is expected to register the highest CAGR during the forecast period.

Based on geography, the global industrial automation software market is divided into Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa. In 2022, Asia-Pacific is estimated to account for the largest share of the industrial automation software market. The growth of this regional market is driven by the increasing initiatives across various industries for boosting digitalization, the growing need for mass production with reduced operating costs, a surge in the adoption of industry 4.0 and advanced technologies including AI, IoT, and Cloud computing among others.

Some of the key players operating in the industrial automation software market include Emerson Electric Co. (U.S.), ABB Group (Switzerland), Siemens AG (Germany), General Electric Company (U.S.), Schneider Electric SE (France), Honeywell International Inc. (U.S.), Rockwell Automation Inc. (U.S.), Omron Corporation (Japan), Microsoft Corporation (U.S.), IBM Corporation (U.S.), Mitsubishi Electric Corporation (Japan), Hitachi, Ltd. (Japan), SAP SE (Germany), Oracle Corporation (U.S.), and HCL Technologies Limited (India).

https://www.prnewswire.com/news-releases/the-worldwide-industrial-automation-software-industry-is-expected-to-reach-59-5-billion-by-2029--301605565.html

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