According to a report recently released by Acumen Research and Consulting, the global automation software market size was USD 19.9 billion in 2021 and is anticipated to reach USD 76.4 billion by 2030, rising at a CAGR of 16.5% from 2022 to 2030.
Automation Software Market Report Coverage:
Factors behind Automation Software Market Growth:
- Expanding the use of mass manufacturing while reducing operating costs.
- Implementation of Industry 4.0 and digital infrastructure on a large scale.
- Increasing uptake of emerging digital industrialization, like the industrial Internet of Things (IIoT).
Trends in the Automation Software Market:
Industries are focusing on enhancing plant performance as sensing devices and high-bandwidth internet become more prevalent. The proliferation of automation-related businesses is expected to be aided by the development of new products and the existence of a sizable number of these businesses. It is anticipated that the participants’ strategies for broadening the financial system and improving the consumer experience will have an impact on the growth of the automation software market.
In addition, problems like a lack of adequate infrastructure in developing countries for the adoption of innovative devices and a lack of skilled labour are probable to obstruct the expansion of the global automation software market. Furthermore, it is anticipated that the target market’s expansion will be constrained by the high cost of integrating novel solutions into the existing framework.
However, it is anticipated that throughout the forecast period, increasing government expenses on new skills, high investment by big firms, and upcoming product introductions will open up new opportunities for market participants in automation software. Additionally, the expanding cooperation between regional and international players is probably going to help the target market’s revenue grow.
Automation Software Market Regional Overview:
Asia-Pacific, Europe, North America, Latin America, and the Middle East and Africa are some of the geographical divisions of the global automation software market. An analysis of the automation software market predicts that North America will represent a sizable portion of global revenue. This is due to the preference for automating processes among gamers.
Furthermore, it is anticipated that the market in Asia-Pacific will expand significantly. This is because of the government’s significant infrastructure investment. Rapid industrialization in developing nations is transforming economies with automated systems as machine learning, artificial intelligence, and robotic technology advance.
Key Findings of the Automation Software Market Report:
- With a 16.5% CAGR from 2022 to 2030, the global automation software market generated USD 19.9 billion in revenue in 2021.
- 39% of the global market for automation software in 2021 was in the North American region.
- From 2022 to 2030, the Asia-Pacific market is anticipated to expand at a CAGR of 18.1%.
- In 2021, cloud obtained more than 58% of the market share overall based on product.
- Increased demand for dependable and high-quality manufacturing automation fuels the market for automation software.
Interested people can access the full report on Automation Software Market.