The automation software global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Automation Software Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The automation software market size has grown rapidly in recent years. It will grow from $28.55 billion in 2023 to $34.05 billion in 2024 at a compound annual growth rate (CAGR) of 19.3%. The growth in the historic period can be attributed to increased adoption of industrial technologies, growth in requirement to eliminate human error, rise in demand for improved performance, and expansion of automation systems.
The automation software market size is expected to see rapid growth in the next few years. It will grow to $69.38 billion in 2028 at a compound annual growth rate (CAGR) of 19.5%. The growth in the forecast period can be attributed to the growing need for automation in reliable operations, increasing adoption for mass production with lower operating expenses, widespread adoption of Industry 4.0, and rising adoption of emerging digital industrialization. Major trends in the forecast period include technological advancements, the adoption of advanced devices, innovation in intelligent process automation, and rising investment for automation in various industry verticals.
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Scope Of Automation Software Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Automation Software Market Overview
Market Drivers –
The growing use of IIoT and cloud-based solutions is expected to propel the growth of the automation software market forward. Industrial Internet of Things (IIoT) and cloud-based solutions refer to interconnected networks of industrial devices and equipment that use cloud computing infrastructure to collect, analyze, and manage data to improve operational efficiency, productivity, and decision-making in industrial settings. The demand for IIoT and cloud-based solutions arises from the need for enhanced connectivity, real-time data analysis, and remote monitoring capabilities. IIoT and cloud-based solutions use automation software for seamless integration, monitoring, and control of industrial devices and processes, as well as optimizing operations and driving efficiencies in industrial environments. For instance, in May 2022, according to a report from the GSM Association, a UK-based non-profit industry organization that represents the interests of mobile network operators worldwide, there will be over 23 billion connections on the Internet of Things (IoT) by 2025, compared to 15.1 billion in 2021. Therefore, the growing use of IIoT and cloud-based solutions is driving the growth of the automation software market.
Market Trends –
Major companies operating in the automation software market are focusing on innovating advanced solutions, such as work automation platforms, to gain a competitive edge in the market. Work automation platforms are software solutions that provide a centralized environment where users can design, execute, monitor, and optimize automated processes and workflows without manual intervention. For instance, in April 2024, V7, a UK-based company that specializes in healthcare automation, launched V7 Go, a work automation platform that uses foundation models to learn and automate repetitive operations consistently and at scale. It uses generative AI to learn how to automate tasks consistently and at scale. Its initial areas of attention include back-office jobs such as data input and administration, where it achieves human performance within the first few hours of operation.
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
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Regional Insights –
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.
Key Companies –
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
Table of Contents
1. Executive Summary
2. Automation Software Market Report Structure
3. Automation Software Market Trends And Strategies
4. Automation Software Market – Macro Economic Scenario
5. Automation Software Market Size And Growth
…..
27. Automation Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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