Press release
Industrial Automation Software Market Poised for Stratospheric Growth, Projected to Reach $59.5 Billion by 2029
Meticulous Research®, a renowned global market research company, has released its latest report titled "Industrial Automation Software Market by Product (SCADA, DCS, MES, HMI, PLC, IT and Software Environment Integration Solutions, Production Process Test Systems), Deployment Type, End User, and Geography - Forecast to 2029."
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Anticipating robust growth, the global industrial automation software market is projected to exhibit a CAGR of 7.4% from 2022, reaching an impressive valuation of $59.5 billion by 2029. Key factors propelling this growth include the escalating demand for automation to enhance manufacturing quality and reliability, the imperative need for mass production with reduced operational costs, and the advent of Industry 4.0 and enabling technologies. Emerging automation-driven industries in developing nations present significant growth opportunities for market players.
The report delves into the market through segmentation based on product, deployment type, end user, and geography, offering comprehensive insights into industry competitors and a detailed regional/country-level analysis.
Product Segmentation
The global industrial automation software market is primarily segmented into supervisory control and data acquisition (SCADA), distributed control system (DCS), manufacturing execution systems (MES), human machine interface (HMI), programmable logic controller (PLC), IT & software environment integration solutions, production process test systems, automated material handling systems, coordinated data management systems, and automatic storage & retrieval systems.
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/industrial-automation-software-market-5279
In 2022, the supervisory control and data acquisition (SCADA) segment is expected to dominate the global market. SCADA plays a pivotal role in controlling and monitoring vital automation processes, contributing to data analysis and optimization decision-making. The rising demand for industrial automation solutions further fuels the growth of this segment. However, the human machine interface (HMI) segment is projected to witness the highest CAGR during the forecast period.
Deployment Type Segmentation
The global industrial automation software market is segmented by deployment type into on-premise and cloud-based. In 2022, the on-premise segment is expected to hold the largest share. Industries opt for on-premise servers to exercise full control over security. However, the cloud-based segment is poised to witness the highest CAGR during the forecast period.
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End User Segmentation
End user segmentation includes oil & gas, chemicals & materials, paper & pulp, pharmaceuticals & biotech, mining & metals, food & beverage, power, consumer goods, automotive, machines & tools, semiconductors & electronics, aerospace & defense, and other end users. In 2022, the oil & gas segment is projected to dominate, with automation significantly impacting areas such as drilling operations, diagnostics & inspections, pipeline monitoring systems, weather monitoring systems, and pressure & flow systems. Drilling, in particular, stands out due to its high costs and safety risks, necessitating automation.
However, the chemicals & materials segment is expected to experience the highest CAGR during the forecast period. This growth is driven by the increasing adoption of IoT and process automation solutions in the chemical industry. As the sector faces global competition and low product differentiation, automation solutions offer dual benefits of innovation and enhanced cost efficiency through optimized production.
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Geographic Segmentation
Geographically, the global industrial automation software market is segmented into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. In 2022, Asia-Pacific is poised to lead the market, followed by Europe and North America. Government initiatives supporting manufacturing plant digitization and investments in the Industrial Internet of Things (IIoT) are key factors propelling the adoption of industrial automation software in the region.
Key Players Steering the Industry
Key players in the global industrial automation software market include Emerson Electric Co. (U.S.), ABB Ltd (Sweden), Siemens AG (Germany), General Electric Company (U.S.), Schneider Electric SE (France), Honeywell International Inc. (U.S.), Rockwell Automation Inc. (U.S.), HCL Technologies Ltd. (India), Parsec Automation Corporation (U.S.), SAP SE (Germany), Tata Consultancy Services Limited (India), Hitachi, Ltd. (Japan), OMRON Corporation (Japan), Aegis Industrial Software Corporation (U.S.), and IBM Corporation (U.S.).
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