Industrial Automation Device Manager Software Market by End-user and Geography - Forecast and Analysis 2021-2025

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR44534
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The industrial automation device manager software market has the potential to grow by USD 1.29 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 6.66%.

This industrial automation device manager software market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by end-user (oil and gas, power, chemical and petrochemical, automotive, and others) and geography (APAC, North America, Europe, South America, and MEA). The industrial automation device manager software market report also offers information on several market vendors, including ABB Ltd., Emerson Electric Co., General Electric Co., Honeywell International Inc., Moxa Inc., OMRON Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Yokogawa Electric Corp. among others.

What will the Industrial Automation Device Manager Software Market Size be in 2021?

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Industrial Automation Device Manager Software Market: Key Drivers and Trends

The growing demand for integrated asset management services is notably driving the industrial automation device manager software market growth, although factors such as the dominant market share of wired networking systems may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the industrial automation device manager software industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

  • The growing demand for integrated asset management services is a key factor driving the industrial automation device manager software market share growth.
  • Most of the assets in end-user industries are plagued by issues, such as unstructured maintenance planning and poor management of inventories, leading to an increase in capital and operational expenses and a reduction in the overall equipment efficiency.
  • The surge in demand for effective operation and maintenance, enterprise asset management through integrated asset management services, aids the industrial automation device manager software market.
  • Another key driver supporting the industrial automation device manager software market growth is the increase in the need for data analytics as this has the ability to sense and respond immediately to opportunities and threats.
  • Real-time data along with historical data can bring about changes to outcomes in industrial facilities through continuous improvements in product quality, greater schedule accuracy, equipment maintenance, and inventory control.
  • To enhance efficiency and output most IoT vendors are currently looking forward to introducing data-driven products, solutions, and services in their industrial facilities.

This industrial automation device manager software market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Industrial Automation Device Manager Software Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • ABB Ltd.
  • Emerson Electric Co.
  • General Electric Co.
  • Honeywell International Inc.
  • Moxa Inc.
  • OMRON Corp.
  • Rockwell Automation Inc.
  • Schneider Electric SE
  • Siemens AG
  • Yokogawa Electric Corp.

 

This statistical study of the industrial automation device manager software market encompasses successful business strategies deployed by the key vendors. The industrial automation device manager software market is fragmented and the vendors are deploying growth strategies such as opting for strategic partnerships with other vendors to enhance their product and service delivery to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The industrial automation device manager software market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Industrial Automation Device Manager Software Market?

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40% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for the industrial automation device manager software market in APAC. Market growth in this region will be faster than the growth of the market in the European, North American, and South American regions.

The rising population and improving per capita incomes of people leading to higher consumption habits will facilitate the industrial automation device manager software market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating End-user Segments in the Industrial Automation Device Manager Software Market?

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The industrial automation device manager software market share growth by the oil and gas segment will be significant during the forecast period. The surge in infrastructural activities in the developing economies of APAC is an important reason for the exponential increase in oil and gas demand. Owing to the nearing maturity of onshore oil and gas fields, there is a notable rise in the number of offshore exploration activities. This has increased the demand for wireless monitoring using wireless sensors, which provide key variable parameters such as pressure, vibration, torque, and temperature with the help of device manager software. The need to minimize operational expenditure has made the real-time monitoring of field devices imperative in the oil and gas industry, which in turn, is driving the market for industrial automation device manager software in the industry.

This report provides an accurate prediction of the contribution of all the segments to the growth of the industrial automation device manager software market size and actionable market insights on post COVID-19 impact on each segment.

 

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What are the Key Factors Covered in this Industrial Automation Device Manager Software Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive industrial automation device manager software market growth during the next five years
  • Precise estimation of the industrial automation device manager software market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the industrial automation device manager software industry across APAC, North America, Europe, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of industrial automation device manager software market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The industrial automation device manager software market growth will increase by $1004.30 Million during 2019-2024.
The industrial automation device manager software market is expected to grow at a CAGR of 5.60% during 2019-2024.
Technavio has segmented the industrial automation device manager software market by end user (Oil and gas, Power, Chemical and petrochemical, Automotive, and Others) and geographic (APAC, North America, Europe, South America, and MEA).
ABB Ltd., Emerson Electric Co., General Electric Co., Honeywell International Inc., Moxa Inc., OMRON Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Yokogawa Electric Corp. are a few of the key vendors in the industrial automation device manager software market.
APAC will register the highest growth rate of 40.27% among the other regions. Therefore, the industrial automation device manager software market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the industrial automation device manager software market growth are:
  • Increase in need for data analytics
  • Integration of information and operational technologies
The industrial automation device manager software market vendors should focus on grabbing business opportunities from the oil and gas segment as it accounted for the largest market share in the base year.
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