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Automation Software Market Surges With Increasing Adoption Of Digitalization: Powering Innovation and Expansion in the Automation Software Market by 2025
Automation Software
What Is the Expected CAGR for the Automation Software Market Through 2025?
In recent years, the automation software market has seen robust growth. It is anticipated to expand from $491.48 billion in 2024 to $529.77 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 7.8%. The significant growth in the previous period can be traced back to the widespread adoption of industrial technologies, the need to eradicate human errors, a surge in demand for augmented performance and the broadening scope of automation systems.
What's the Projected Size of the Global Automation Software Market by 2029?
The market size of automation software is projected to experience a swift expansion in the forthcoming years. It's predicted to increase to a value of $831.87 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 11.9%. The anticipatory surge during this period can be ascribed to factors such as the increasing demand for automation in reliable operations, higher uptake for mass production due to lowered operational costs, broad acceptance of Industry 4.0, and a growing emphasis on adopting modern digital industrialization techniques. Key trends expected to shape this period are technological progress, the incorporation of advanced devices, development in intelligent process automation, and a rise in investments for automation across various industry sectors.
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Top Growth Drivers in the Automation Software Industry: What's Accelerating the Market?
The expansion of the automation software market is anticipated to be driven by the rising adoption of Industrial Internet of Things (IIoT) and cloud-based solutions. These systems refer to a network of interconnected industrial devices drawing upon cloud computing infrastructure to gather, analyze, and manage data - bolstering operational efficiency, productivity, and decision-making in industrial contexts. This demand is effervescent due to the need for improved connectivity, the ability to analyze data in real-time, and remote monitoring capabilities. IIoT and cloud-based solutions utilize automation software to facilitate the integration, oversight, and control of industrial devices and processes, thereby optimizing operations and enhancing efficiencies. For example, in May 2022, a report from the GSM Association, a non-profit UK-based organization advocating for global mobile operators, predicted over 23 billion IoT connections by 2025, an increase from 15.1 billion connections in 2021. Furthermore, in December 2023, the European Commission (EC), an executive body based in Belgium within the European Union (EU), reported a 4.2 percentage point surge in enterprise adoption of cloud-based solutions, with 45.2% of businesses purchasing cloud computing services in 2023 - a significant uptick from 2021. Consequently, the surging use of IIoT and cloud-based solutions is propelling the proliferation of the automation software market.
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What Trends Will Shape the Automation Software Market Through 2029 and Beyond?
Leading firms in the automation software market are concentrating on the development of new, sophisticated solutions like work automation platforms to maintain their competitive advantage. These platforms are software solutions offering a unified setting where automatic processes and workflows can be designed, operated, monitored, and enhanced without the necessity for human intervention. For instance, V7, a company in the UK specializing in healthcare automation, introduced V7 Go, a work automation platform that utilises foundation models to consistently learn and automate routine operations in April 2024. This platform uses generative AI to learn task automation at a consistent and large scale. Its initial focus areas include back-office functions like data entry and administration, reaching human-level efficiency within the first few operating hours.
What Are the Main Segments in the Automation Software Market?
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 Top Companies are Driving Growth in the Automation Software Market?
Major companies operating in the automation software market are Microsoft Corporation, Amazon Web Services (AWS), accenture* plc, 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
Which Regions Will Dominate the Automation Software Market Through 2029?
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.
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