Global Industrial Automation Software Market Size, Share, Growth Analysis, By Product(manufacturing execution system (MES), distributed control system (DCS)), By Deployment(on-premise, cloud-based), By End use(oil & gas, chemicals & materials) - Industry Forecast 2024-2031

Industrial Automation Software Market size was valued at USD 191.89 billion in 2019 and is poised to grow from USD 205.86 billion in 2023 to USD 441.7 billion by 2031, growing at a CAGR of 8.84% in the forecast period (2024-2031).

The need for industrial automation software is being driven by the increasingly dynamic requirements of diverse sectors as well as sophisticated operations and procedures. It reduces the number of machine hours needed for processes, which is only achievable with reliable software.

Numerous sectors have benefited from automation in various ways, including easier monitoring, reduced waste, and faster output. Automation provides clients more consistent, dependable goods that are delivered on time, at a significantly lower cost, and with higher quality.

The adoption of SCADA, HMI, and PLC systems, as well as software like MES, APM, APC, PLM, and OTS, and control system software that gives visualization, has been significantly influenced by the ability to connect industrial machinery and equipment and collect real-time data.

These systems aid in lowering product flaws, decreasing downtime, planning maintenance, shifting from a reactive to a predictive state, and establishing prescriptive decision-making stages.

Smart factory automation, also known as the Industrial Internet of Things (IIoT) and Industry 4.0, is a new technology approach to the creation, manufacturing, and administration of the logistics chain. With equipment and gadgets connected to the internet, these tendencies are prevailing in the industrial sector.

The installation of industrial automation technologies, however, comes with a considerable initial cost. Additionally, acquiring and training people who can handle the solution adds to the overall cost, which might impede market expansion.

US Industrial Automation Software Market is poised to grow at a sustainable CAGR for the next forcast year.