Industrial Automation Software Market


Prajwalagale1046

Uploaded on Aug 21, 2024

Category Technology

The global industrial automation software market is projected to grow at a CAGR of 7.4% from 2022, reaching $59.5 billion by 2029, driven by increasing demand for reliable manufacturing, cost reduction, and the rise of Industry 4.0 technologies. Key segments include supervisory control and data acquisition (SCADA), distributed control systems (DCS), manufacturing execution systems (MES), human machine interfaces (HMI), and programmable logic controllers (PLC). SCADA is expected to dominate in 2022, while HMI is projected to grow the fastest. The market is also segmented by deployment type, with on-premise solutions currently leading but cloud-based solutions expected to grow more rapidly. By end user, the oil & gas sector is expected to hold the largest share, with the chemicals & materials segment forecasted to grow the fastest due to automation's role in cost efficiency and innovation. Geographically, Asia-Pacific is anticipated to lead the market, followed by Europe and North America, supported by government initiatives and investments in digitization. Key players in the market include Emerson Electric Co., ABB Ltd, Siemens AG, General Electric Company, Schneider Electric SE, Honeywell International Inc., and others.

Category Technology

Comments