Latest News- Industrial Automation Software Market: SCADA software is expected to lead the Product segment during 2024-2028

The Industrial Automation Software Market is being driven by Need to reduce overall operational expenses

The Industrial Automation Software Market is expected to grow at a CAGR of 2.34% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 4.80 billion. In the realm of discrete manufacturing, industrial automation software, Enterprise Resource Planning (ERP), and Product Lifecycle Management (PLM) have historically functioned as distinct entities. However, the fusion of PLM and ERP systems enables manufacturers to effectively develop, launch, and profit from new products. Industrial automation software, on the other hand, oversees manufacturing data, encompassing resource allocation, manufacturing planning, supply chain information, and quality inspection. The ERP system, meanwhile, collects and consolidates business operational data, including human resources, customer relationship management, accounting, and financials. In contemporary manufacturing scenarios, the integration of industrial automation software with ERP systems has emerged as a standard practice. This integration ensures the synchronization of records, orders, and inventory data between the systems, thereby enabling more accurate production planning and execution. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • SCADA software
  • MES
  • DCS software
  • HMI software
  • PLC software
• End-user
  • Process industry
  • Discrete industry
• Geography
  • APAC
    • China
    • Japan
  • North America
    • US
  • Europe
    • Germany
    • UK
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Need to reduce overall operational expenses
• Emergence of automation software solutions on cloud
• Increasing plant complexities

However, the market also witnesses some limitations, which are as follows:

• Cybersecurity threats
• Interoperability issues due to proprietary software
• Lack of skilled labor

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Market Scope in Industrial Automation Software Market Research Report

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Research Analysis Overview

The Industrial Automation Software Market is witnessing significant growth in various sectors including paper and pulp, chemicals, oil and gas, discrete industry, and process industry. The adoption of automation software processes in 24/7 operations is crucial for automation-driven industries to enhance work efficiency and time efficiency. Digital industrial technologies like On-cloud, Programmable Logic Controller (PLC), Manufacturing Execution Systems (MES), and Distributed Control System (DCS) are transforming the industrial landscape. Chemicals and materials industries are increasingly adopting automation software for system integration capabilities, reducing human errors, and improving product lifecycle management. The cloud-based segment of the market is expected to grow at a rapid pace due to its flexibility and cost-effectiveness. Industry 4.0 is driving the demand for advanced automation software in discrete industries, enabling real-time monitoring and control of automatic operations. Human machine interface (HMI) and enterprise-level solutions are becoming essential for managing complex industrial processes. Skilled labor is required for implementing and maintaining these systems, making it a challenge for small and medium-sized enterprises. In conclusion, the Industrial Automation Software Market is a growing market with significant potential in various industries. The adoption of digital industrial technologies is transforming the way industries operate, enabling 24/7 operations, reducing human errors, and improving work efficiency. However, the need for skilled labor and high implementation costs remain challenges for the market.

Market Research Overview

The Industrial Automation Software Market is a segment of the larger Global IT Services Market, encompassing firms that offer IT consulting and system integration, application, electronic data processing, business process outsourcing, infrastructure, and Internet services. Within this market, the IT Consulting and Other Services sector specifically caters to companies providing IT consulting and information management services. According to Technavio, the market size for IT Consulting and Other Services is determined by the consolidated revenue generated by businesses delivering all types of IT consulting and information management services, including income derived from executed IT service contracts. Key growth drivers for this market include substantial government investments in modernizing IT infrastructure to address skills gaps among public sector employees.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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