Press release
Automation Software Market Set to Reach $831.87 Billion by 2029 with 11.9% Yearly Growth
Automation Software Market
The rise in the adoption of Industrial Internet of Things (IIoT) and cloud-based solutions is projected to boost the expansion of the automation software market. IIoT and cloud-based solutions, which involve the interconnection of industrial devices utilizing cloud infrastructure to gather, scrutinize, and control data, aim to enhance operational efficiency, productivity, and decision-making in industrial contexts. They are in demand due to their superior connectivity, the ability to analyze data in real-time, and their remote monitoring capabilities. Maintenance, monitoring, and control of industrial processes and devices, as well as the optimization of operations and improving efficiencies in the industrial sector, leverage the use of automation software in IIoT and cloud-based solutions. For instance, the GSM Association, a UK-based non-profit organization representing the interests of mobile network operators worldwide, predicted in May 2022 that by 2025, connections on the Internet of Things (IoT) would surpass 23 billion, an increase from 15.1 billion in 2021. In another example, the European Commission (EC), the executive body of the European Union based in Belgium, reported in December 2023 that there was a 4.2 percentage point rise in the uptake of cloud-based solutions in 2023 in the European Union, with 45.2% of businesses acquiring cloud computing services, indicating a substantial increase compared to 2021. Thus, the escalating use of IIoT and cloud-based solutions is instrumental in propelling the automation software market's advancement.
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How will the growth rate of the automation software market shape industry trends by 2034?
In recent times, the automation software market has experienced robust growth. The market, which is penned to stand at $491.48 billion in 2024, is predicted to rise to $529.77 billion in 2025, signifying a compound annual growth rate (CAGR) of 7.8%. Factors such as the soaring adoption of industrial technologies, the intensifying need to eradicate human fault, the mounting demand for enhanced performance, and the broadening of automation systems, are believed to have contributed to this growth during the historic period.
In the coming years, the automation software market is forecasted to experience significant expansion. The market size is set to reach $831.87 billion by 2029, with a compound annual growth rate of 11.9%. This predicted growth over the forecast period can be associated with the increasing demand for reliable operational automation, an uptick in adoption for mass manufacturing at lower operational costs, the widespread implementation of Industry 4.0, and a surge in the uptake of nascent digital industrialization. Other key trends to watch throughout the forecast period include technological progress, the use of advanced devices, innovations in smart process automation, and escalated investments in automation across various industrial sectors.
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What trends are poised to drive the future success of the automation software market?
Primary players in the automation software market are channeling their efforts into developing cutting-edge solutions, such as work automation platforms, as a means to establish dominance over competitors. These platforms are software applications creating a centralized space where one can create, implement, oversee, and enhance automated procedures and workflows, thus eliminating the need for human intervention. For example, the UK-based company V7, known for its dedicated services in the healthcare automation sector, unveiled V7 Go in April 2024. This work automation platform employs foundation models to support the unvarying automation of repetitive tasks. Using generative AI, it masters the consistency and broad-scale functionality of task automation. The initial target areas comprise back-office tasks, notably data input and administration, where the platform manages to match human efficiency within just a few hours of operation.
Which primary segments of the automation software market are driving growth and industry transformations?
The automation software market covered in this report is segmented -
1) By Product: On-Premises, Cloud
2) By Organization Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
3) By Application: Banking, Financial Services, And Insurance (BFSI), Information Technology (IT) And Telecoms, Retail And Consumer Goods, Travel And Hospitality, Healthcare And Life Sciences, Education, Media And Entertainment, Manufacturing, Other Applications
Subsegments:
1) By On-Premises: Enterprise Resource Planning (ERP) Software, Customer Relationship Management (CRM) Software, Manufacturing Automation Software, IT Process Automation (ITPA) Software, Business Process Management (BPM) Software, Others
2) By Cloud: Cloud-Based ERP Software, Cloud-Based CRM Software, Cloud-Based BPM Software, Cloud-Based IT Process Automation (ITPA) Software, Robotic Process Automation (RPA) Software, Artificial Intelligence (AI) And Machine Learning-Based Automation Tools, Others
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Which geographical regions are pioneering growth in the automation software market?
North America was the largest region in the automation software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the market. The regions covered in the automation software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the automation software market landscape?
Major companies operating in the automation software market are Microsoft Corporation, Amazon Web Services (AWS), International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, NetSuite Inc., SAP SE, Salesforce Inc., Workday Inc., Red Hat Inc., Infor Inc., OpenText Corporation, Citrix Systems Inc., SAS Institute Inc., HubSpot Inc., Epicor Software Corporation, Progress Software Corporation, Deltek Inc., ActiveCampaign LLC, Canonical Ltd., Acoustic L.P., GetResponse Sp. z o.o., Puppet Inc., Act-On Software Inc., QualiSystems Ltd., ActiveTrail Ltd., Push Engage LLC
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What Is Covered In The Automation Software Global Market Report?
•Market Size Forecast: Examine the automation software market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the automation software market for a structured understanding.
•Key Players Overview: Analyze major players in the automation software market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automation software market.
•Segment Contributions: Evaluate how different segments drive overall growth in the automation software market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automation software market.
•Industry Challenges: Identify potential risks and obstacles affecting the automation software market.
•Competitive Landscape: Review strategic developments in the automation software market, including expansions, agreements, and new product launches.
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