PAC Programming Software Market to Perceive Exponential Growth at CAGR 16% Driven By OPTO 22, NATIONAL INSTRUMENTS, SCHNEIDER ELECTRIC, WONDERWARE SOFTWARE, ASCON, ROCKWELL AUTOMATION, HONEYWELL INTERNATIONAL

Industry Highlights:
The PAC programming software market is expected to witness a CAGR of 16%, over the forecast period of 2018-2023. The regions considered under the scope of the report include - North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

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Owing to government regulations and policies that are imposed on public safety and quality standards (for the process and discrete industries), the use of automation solutions has increased, thereby influencing growth of the PAC software market. The fourth industrial revolution has helped create smart factories, integrated with the Internet of Things (IoT) and industrial automation control solutions. The shift from centralized configuration to the distributed control solutions, combined with the availability of the customized programmable automation controllers catering to the specific requirements of the customers, is one of the major factors augmenting the growth of the PAC market.

Key Developments in the Market
• February 2018 - Honeywell collaborated with Equate Petrochemical Company, a global producer of petrochemicals. The companies signed an MoU, for the development of technologies that support operations at Equate.
• November 2017 - Mitsubishi Electric Corporation developed a supervisory control and data acquisition (SCADA) software and industrial-use computers, which were incorporated in e-F@ctory-brand solutions, for Edge computing on production floors, where network edges and data sources intersect

Major Players:
OPTO 22, NATIONAL INSTRUMENTS, SCHNEIDER ELECTRIC CO., WONDERWARE SOFTWARE, ASCON CORPORATION, ROCKWELL AUTOMATION, HONEYWELL INTERNATIONAL INC., SIEMENS AG, HITACHI LTD., EATON CORPORATION, MITSUBISHI ELECTRIC CORPORATION, amongst others

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Rising Industrial Automation Projected to Drive the Market’s Growth
Industrial automation has facilitated the control over various operations of industries, without any significant intervention from operators, using various control devices. Manufacturers of automation devices have responded to the increased scope of requirements of modern industrial applications, with industrial control devices. These devices blend the advantages of PLC-style deterministic machine or process control, with the flexible configuration and enterprise integration strengths of PC-based systems, using a PAC (programmable automation controller). Some of the advanced technologies used in industrial automation involve - cascade controls, modern control hardware devices (such as PAC and PLC sensors), other final control devices, standalone computing system, communication system, and human-machine interfacing systems. The developing economies are the primary growth engines of the automation industry. Countries, such as China and India, are investing heavily on the development of several industries. In India, the National Manufacturing Policy leads to the creation of national investment and manufacturing zones, in addition to increasing manufacturing activities in the automation sector, to boost the demand for factory automation products.

The Automotive Industry to Create Significant Demand for PAC Software
Owing to the robust adoption of PACs, the automotive industry was the most significant contributor to the PAC software market, in 2017. The number of automotive production plants has been observed to be on the rise, particularly in the developing economies, which is expected to bolster the demand for PACs, in the industry. The rise in investment in the automotive industries of India, China, Japan, Germany, and the United States has boosted the growth of the market studied. For example, Nissan, a Japanese automobile manufacturer, has invested USD 106 million in its Sunderland plant (the United Kingdom), in 2015. During the same year, Ford announced an USD 2.5 billion investment for new transmission plants, in Mexico. Such investments are likely to augment the growth of the global industrial automation control market. Advancements in the automation control market are expected to have a positive impact on growth of the PAC software market.

Asia-Pacific to Account for a Major Share
Asia-Pacific is on a robust growth trajectory, benefiting from recent policy reforms, a consequent pickup investment, and lower commodity prices. The domestic demand is poised to remain bullish, and inflation is expected to decline, over the next two years. In 2017, India is projected to register a 7.5% growth in GDP, to become the fastest-growing country in the region. However, China continues to decelerate, due to weak domestic-cum-external demand and a declining property market. Despite the economic slowdown in China, process automation in the region is expected to remain steady, and witness a healthy growth, over the forecast period. The power generation projects initiated after the global recession (along with the initiation of large-scale Greenfield projects) have also driven the demand for industrial automation control market solutions, like PAC. For instance, India received around USD 31 billion as a foreign direct investment in Greenfield projects (during the first half of 2015), followed by China, at USD 28 billion. Owing to these factors, Asia-Pacific accounted for a significant share of the market studied.

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This release was published on openPR.