Growing need to reduce human errors and increase time efficiency and less availability of skilled manpower are key factors driving market revenue growth
— Emergen Research
VANCOUVER, B.C, CANADA, June 27, 2023/EINPresswire.com/ — 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. In 2021-2028, rising use of cloud-based industrial automation software is anticipated to fuel market revenue growth.
Additionally, the market will rise due to the increased demand for industrial automation software to decrease human error and improve time efficiency. The need for automation software has been growing quickly. Several industries, including oil and gas, chemicals, pharmaceuticals, the automotive, machine manufacturing, and others have been adopting cloud-based industrial automation software at a rapid rate. Such software enables businesses to access data remotely using computers and ensures secure access to various automated systems through a variety of output devices. These are a few of the key elements propelling the expansion of the industrial automation software market revenue globally.
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Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.
Some major companies in the global market report include 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.
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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Key reasons to buy the Global Industrial Automation Software Market report:
The latest report comprehensively studies the global Industrial Automation Software market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
The report offers an insightful analysis of the regional outlook of the market.
It offers a detailed account of the end-use applications of the products & services offered by this industry.
The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
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)
Oil and Gas
Paper and Pulp
Mining and Metals
Food and Beverages
Semiconductor and Electronics
Aerospace and Defence
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Additionally, the report covers the analysis of the key players in the industry with a special focus on their global position, financial status, and their recent developments. Porter’s Five Forces Analysis and SWOT analysis have been covered by the report to provide relevant data on the competitive landscape.
Detailed Regional Analysis covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
Who are the leading players in the Industrial Automation Software industry?
Which region is expected to dominate the market in the coming years?
What are the key applications of Industrial Automation Software?
Which segment is expected to garner traction during the coming years?
What are the key strategies adopted by leading players in the market?
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