VANCOUVER, BC, January 6, 2022 / PRNewswire / – Global Industrial Automation Software Market Size Has Reached $ 33.54 billion in 2020 and is expected to register a significantly stable revenue CAGR over the forecast period, according to the latest analysis from Emergen Research. Growing demand for Supervisory Control and Data Acquisition (SCADA) software for automation industry is one of the major factors that are expected to drive the market revenue growth.
Rising demand for better performance and control and increasing adoption of new digital industrial technologies such as Industrial Internet of Things (IIoT) are expected to propel the market revenue growth during the forecast period. In addition, the increasing use of cloud services in small and medium-sized enterprises to manage automation processes more effectively is expected to open up opportunities for industrial automation software vendors and hence drive the market revenue growth. .
The concerns about the data security of industrial automation software are the major factors expected to hamper the revenue growth of the industrial automation software market. While automation software offers benefits including ease of deployment and cost effectiveness, security concerns arise if cloud-based deployment approaches are used. Due to the low cost, a number of small and medium businesses use public cloud services. This further increases the risk of security breaches and potential cyber attacks.
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The global industrial automation software market revenue is expected to register a CAGR of 7.8% during the forecast period and the revenue is expected to increase by $ 33.54 billion in 2020 at $ 60.83 billion in 2028. The growing demand for better performance and control and the increasing adoption of new digital industrial technologies are propelling the market growth.
COVID-19 impact analysis:
The COVID-19 pandemic has led to downsizing of various companies and has negatively impacted the growth of the industrial automation software market. Many small and medium-sized businesses cannot afford the large investments required to deploy process automation. New strategies aimed at quickly recovering losses as restrictions have been lifted and more mobility and functionality are resumed.
Current trends and innovations:
The integration of new technologies, including artificial intelligence (AI) and machine learning (ML) with automation software, are major factors driving the adoption of automation software and services. SCADA software is used in various industries to control and monitor different processes in industries. SCADA software enables users to make smarter decisions by interacting with local machines through the Human Machine Interface (HMI) and Programmable Logic Controllers (PLC).
North America is expected to register the fastest revenue growth rate during the forecast period. The key factors contributing to this growth rate are the increase of initiatives in various industries to boost the digitization and adoption of automation technology in the countries of the region.
Some large companies included in the market report are Siemens AG, Hitachi Ltd., General Electric Company, Honeywell International Inc., SAP SE, Schneider Electric SE, ABB Ltd., HCL Technologies Limited, Rockwell Automation Inc., and Parsec Automation Corporation.
- In September 2021, HCL Technologies Ltd. has signed a five-year partnership with the American company MKS Instruments Inc. MKS Instruments is a global supplier of automation systems, instruments and software for manufacturing processes. The partnership agreement will drive digital and cloud-based transformation for MKS Instruments through artificial intelligence (AI) -based automation.
New Years discount available on Industrial automation software Marlet [email protected] https://www.emergenresearch.com/request-discount/885
Emergen Research has segmented the global industrial automation software on the basis of type, deployment, end use and region:
- Type Outlook (Revenue, Billions USD; 2018-2028)
- Supervisory Control and Data Acquisition (SCADA)
- Distributed Control System (DCS)
- Manufacturing Execution Systems (MES)
- Human-machine interface (HMI)
- Programmable logic controller (PLC)
- Deployment outlook (revenue, billion USD; 2018-2028)
- End-Use Outlook (Revenue, USD Billion; 2018-2028)
- Processing industry
a. Oil and gas
b. Chemical products
vs. Paper and pulp
e. Mines and metals
F. Food and drink
g. To be able to
- Discreet industry
b. Machine manufacturing
vs. Semiconductor and electronics
D. Aeronautics and Defense
e. Medical equipement
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- Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
g. Rest of Europe
- Asia Pacific
D. South Korea
e. Rest of APAC
- Latin America
b. Rest of LATAM
- Middle East & Africa
a. Saudi Arabia
b. United Arab Emirates
vs. South Africa
e. Rest of the MEA
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Emergen Research is a market research and consulting firm that provides syndicated research reports, custom research reports, and consulting services. Our solutions are uniquely focused on your goal to locate, target and analyze changes in consumer behavior across demographics and industries, and help customers make smarter business decisions. We offer market intelligence studies ensuring relevant and evidence-based research across multiple industries including healthcare, touchpoints, chemicals, types, and energy. We are constantly updating our research offerings to make sure our clients are up to date with the latest market trends. Emergen Research has a solid base of experienced analysts from various fields of expertise. Our industry experience and our ability to develop a practical solution to any research problem gives our clients the opportunity to gain an edge over their respective competitors.
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