Industrial Automation Device Manager Software Market Size to grow by USD 1567.8 million between 2024-2028
According to a research report “ Industrial Automation Device Manager Software Market” by Deployment (On-premises, Cloud) End-user (Oil and gas, Power, Chemical and petrochemical, Automotive, Food and beverages and others) Geography (APAC, North America, Europe, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 1567.8 million, at a CAGR of 6.72% during the forecast period. In the industrial sector, asset management continues to be a significant challenge for end-users in heavy industries, oil and gas, and mining. Unstructured maintenance planning, lack of a centralized data and document source, and inefficient inventory management result in increased capital and operational expenses, as well as decreased equipment performance. To address these issues, there is a growing demand for Integrated Asset Management Services (IAMS), which encompasses information management, maintenance and material management, enterprise asset management, and asset tracking and monitoring. IAMS solutions, including industrial automation device manager software, are crucial for enhancing plant and facility efficiency, reducing downtime, and optimizing operational costs..
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By Deployment, the On-premises segment is projected to dominate the market size in 2024
In the global industrial automation device manager software market, on-premise deployment held the largest market share in 2023. This dominance can be attributed to several factors. Primarily, organizations in sectors with stringent data security and regulatory requirements, such as healthcare, finance, and vital infrastructure, often prefer on-premise solutions for enhanced control and security. Furthermore, on-premise deployments enable users to customize software and integrate infrastructure according to their unique business needs. Top industry players, including Schneider Electric and ABB, continue to provide specialized on-premise solutions tailored to specific industry demands, thereby reinforcing the popularity of this deployment style.
By End-user, Oil and gas segment is expected to hold the largest market size for the year 2024
The oil and gas industry, characterized by its substantial capital investments and high-risk operations, primarily conducted in remote and challenging environments, necessitates continuous monitoring of critical variables to ensure optimal performance and safety. This has led to a surge in demand for industrial automation device manager software, which enables wireless monitoring of key parameters such as pressure, vibration, torque, and temperature through wireless sensors. Furthermore, stringent plant and environmental safety regulations worldwide have accelerated the adoption of device manager software to ensure regulatory compliance and enhance operational efficiency.
APAC is forecasted to hold the largest market size by region in 2024
The Industrial Automation Device Manager Software market in APAC is projected to exhibit a more modest revenue growth rate compared to other global regions during the forecast period. This can be attributed to the maturity of markets in certain countries and economic instability in others. However, the region will witness an uptick in growth, fueled by burgeoning industries in China, South Korea, Japan, India, Vietnam, Malaysia, and Australia. Factors such as population growth and increasing per capita incomes are driving industrialization and consumption habits in APAC, particularly in the food and beverage sector, which is poised for expansion due to the rising demand for packaged and ready-to-eat food.
The Industrial Automation Device Manager Software Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Industrial Automation Device Manager Software market is experiencing significant growth due to the increasing adoption of automation in various industries. This market includes solutions that utilize intelligent traffic management, machine vision, deep learning, machine learning, and artificial intelligence to optimize production and enhance efficiency. Revenue streams in this market come from automation sectors such as robotics, process automation, and factory automation. The integration of collaborative robots, machine learning, and artificial intelligence in machinery is revolutionizing smart manufacturing, enabling digital workflows and predictive maintenance. Complexity in machinery and the need for prescriptive and predictive states have led to the adoption of advanced technologies like deep learning and machine vision. Weather monitoring, pipeline monitoring, diagnostics and inspections, drilling operations, automotive, consumer goods, and logistics chain are some of the industries that are leveraging these technologies to streamline operations and improve productivity. Cloud-based solutions are gaining popularity due to their flexibility and scalability, enabling real-time monitoring and analytics. The market is expected to grow further with the integration of weather monitoring, pipeline monitoring, and drilling operations in the industrial automation device manager software. Overall, the market is poised for significant growth in the coming years, driven by the increasing demand for automation and digital transformation in various industries.
Market Research Overview
The Industrial Automation Device Manager Software market is experiencing significant growth due to the increasing adoption of automation in various industries. Revenue streams for this market include sales of automation software for digital workflows, smart manufacturing, and complex machinery. Prescriptive and predictive stages of maintenance are key areas of focus, with reactive maintenance giving way to more proactive approaches. Automation devices such as OTS (Operational Technology Systems), PLM (Product Lifecycle Management), APC (Advanced Process Control), APM (Asset Performance Management), MES (Manufacturing Execution Systems), PLC (Programmable Logic Controllers), HMI (Human-Machine Interfaces), and SCADA (Supervisory Control and Data Acquisition) systems are driving the market. Dependable products and standardization are essential for customers seeking to optimize production speed, reduce waste, and monitor machine hours. The market for industrial automation software is expanding beyond traditional industries like power and machinery to include robotics, digital transformation, IoT system components, microchips, batteries, sensors, surgical technologies, medical diagnostic, intelligent traffic, machine vision, deep learning, machine learning, artificial intelligence, collaborative robots, automotive, consumer goods, cloud-based solutions, logistics chain, factory automation, and more. Adobe Acrobat, weather monitoring, pipeline monitoring, diagnostics and inspections, drilling operations, and automotive are some of the specific applications of industrial automation device manager software. The market is expected to grow further as industries continue to digitize and automate their processes.
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