What is the global market size of Industrial Automation Software Market?

The need for industrial automation software is being driven by the increasingly dynamic requirements of diverse sectors as well as sophisticated operations and procedures. It reduces the number of machine hours needed for processes, which is only achievable with reliable software.

Global Industrial Automation Software Market

Industrial Automation Software Market Size, Share, Growth Analysis, By Product(manufacturing execution system (MES), distributed control system (DCS), supervisory control, data acquisition (SCADA)), By Deployment(on-premise, cloud-based), By End use(oil & gas, chemicals & materials, paper & pulp, pharmaceuticals & biotech), By Region - Industry Forecast 2024-2031

Report ID: SQMIG20I2176 | Region: Global | Published Date: February, 2024
Pages: 250 | Tables: 106 | Figures: 76

Industrial Automation Software Market News

ABB and SKF signed a Memorandum of Understanding (MoU) in July 2022 to investigate the potential for cooperation in the automation of industrial processes. The organizations' joint efforts will help clients raise their production efficiency by identifying and evaluating options to enhance manufacturing capabilities.
Schneider Electric released EcoStruxure Automation Expert version 22.0 in May 2022, expanding the functionality of its software-driven universal automation solution. The solution's intimate connection with AVEVA apps enables end-to-end digital continuity.

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Numerous sectors have benefited from automation in various ways, including easier monitoring, reduced waste, and faster output. Automation provides clients more consistent, dependable goods that are delivered on time, at a significantly lower cost, and with higher quality.

There are few significant companies in the fairly competitive industrial automation software market. The major firms with a sizable market share are focusing on growing their consumer base internationally. To increase their market share and profitability, these companies are using strategic coordinated measures. 'Siemens AG', 'ABB Ltd.', 'Schneider Electric SE', 'Honeywell International Inc.', 'Mitsubishi Electric Corporation', 'General Electric Company', 'Rockwell Automation Inc.', 'Yokogawa Electric Corporation', 'Emerson Electric Co.', 'Advantech Co. Ltd.', 'Fanuc Corporation', 'Omron Corporation', 'Bosch Rexroth AG', 'National Instruments Corporation', 'Aspen Technology Inc.', 'Dassault Systèmes SE', 'PTC Inc.', 'Schneider Electric Software LLC', 'Wonderware (Schneider Electric)', 'Endress+Hauser AG'

Government backing and efforts, the strong need for industrial automation for mass production, and increased pressure to cut operating costs are all contributing to the growth of the automation software industry. Enterprise-level solutions and product lifecycle management are in great demand worldwide. Mass production enables businesses to create more with fewer employees. Manufacturers utilize machines to make items more quickly rather than employing several employees to accomplish a task manually. As a result, businesses may offer their goods for less money without losing money. The rising use of automation in manufacturing demonstrates how quick technological advances have eliminated the need for human intervention in the development, design, and assembly of a product's component parts. Damage control is far less likely since automated inspection and identification of parts reduce time and are less error-prone. Even though it necessitates a sizable investment, an automated system provides a very favorable return in terms of operational expenses over the long term. In the upcoming years, this is anticipated to fuel a need for industrial automation software.

Over the past ten years, the supervisory control and data acquisition (SCADA) software has grown quickly. The SCADA system enables end-user industrial staff to examine data and reach important judgments from a distance. As it analyzes, distributes, and displays the data on the human-machine interface, it also contributes to minimizing the problems with a prompt response (HMI).

Europe is likely to dominate the market during the forecast period. One of the most progressive fields in German mechanical engineering is the robotics and automation sector. Among the top R&A businesses in the world are German OEMs. The main advantages of a hub that accommodates robotics businesses from various market sectors are thought to be human-robot cooperation (HRC) and machine vision (MV) technology. There will be more uses for collaborative robots and traditional industrial robots as a result of technological advancements in artificial intelligence, including machine learning and deep learning.

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