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The industrial automation device manager software market size is estimated to grow at a CAGR of 6.72% between 2023 and 2028. The market size is forecast to increase by USD 1,567.8 million. The growth of the market depends on several factors, including growing demand for integrated asset management services, an increase in the need for data analytics and the rising adoption of IIoT. A industrial automation device manager is software that can control plant management and maintenance-related activities remotely. The basic functions of this device manager include the simplification of regular maintenance tasks as well as monitoring and control.
This industrial automation device manager software market report extensively covers market segmentation by deployment (on-premises and cloud), end-user (oil and gas, power, chemical and petrochemical, automotive, and food and beverages and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018 to 2022.
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Growing demand for integrated asset management services is notably driving the market growth. Most of the assets in end-user industries, such as heavy industries, oil and gas, and mining, are plagued by issues, such as unstructured maintenance planning, the unavailability of a single source for data and documents, and poor management of inventories, all of which lead to an increase in the capital and operational expenses and a reduction in the overall efficiency of the equipment used. All these factors have led to a surge in demand for integrated asset management services (IAMS), which, in turn, is fostering the market for industrial automation device manager software. IAMS generally includes information management, maintenance and material management, enterprise asset management, and asset tracking and monitoring, which are used to enhance the overall performance of the plant and facilities.
Moreover, the benefits of integrated asset management services include effective operation and maintenance, leading to reductions in costs and downtime, better information management, and identification of Interchangeable spares and equipment to reduce lead time and downtime, thereby improving effective utilization, and real-time, condition-based monitoring. Such factors are expected to drive the growth of the market during the forecast period.
The evolution of cloud-based technologies is an emerging trend shaping the market growth. The convergence of technologies like IoT, data analytics, and cloud computing has fueled innovation in industrial automation solutions and encouraged end-users to adopt these technologies over wired and cable management systems in industrial facilities. These cloud-based technologies in recent years emerged as database-driven tools for effective business decision-making and assisted in deriving meaningful information out of unstructured data. IoT technology, in particular, enabled data sharing and transfer between standalone control systems and other devices like thermostats, sensors, and lighting fixtures.
Additionally, advancements in technologies are driving the need for technologies and networking solutions that can assimilate a large chunk of data and derive meaningful patterns out of it as industrial automation device manager software is potentially being used in industrial facilities, which is increasingly substituted by these robust and scalable industrial automation technologies. Such factors will drive the growth of the market during the forecast period.
The complex implementation of industrial automation device manager software is a significant challenge hindering the market growth.
The growing instances of cyberattacks and data thefts have compelled organizations belonging to end-user industries such as BFSI, healthcare, government, and IT to adopt integrated security solutions that can help mitigate risks. Organizations are integrating solutions such as firewalls, antivirus, encryption, server security, data loss prevention software (DLP), antivirus, and backup. The severity of this issue is growing owing to the increase in access to an enterprise network from remote locations due to the rise in the adoption of bring-your-own-device (BYOD) policies, IoT, and work-from-anywhere policies.
Moreover, managing industrial automation solutions requires knowledge about potential threats, additional technologies, and updated processes. Organizations need a skilled workforce to manage and implement industrial automation device manager software. They face challenges in identifying all the endpoints and managing complex IT infrastructure and, thus, are reluctant to adopt industrial automation device manager software. This can hinder the adoption of the industrial automation device manager software market during the forecast period.
The market share growth by the on-premises segment will be significant during the forecast period. The on-premise deployment method maintained the leading position in the global industrial automation device manager software market in 2023. Numerous factors contribute to this supremacy. Initially, due to data security and regulatory issues, some organizations, such as those in vital infrastructure and highly regulated areas such as healthcare and finance, prefer on-premise solutions.
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The on-premises segment was the largest and was valued at USD 2,132.85 million in 2018. Additionally, on-premise deployments give users more control over software customization and infrastructure integration, making them perfect for businesses with intricate operating requirements. Efficient on-premise solutions specialized to particular industry demands are still being offered by top firms such as Schneider Electric's EcoStruxure Machine Expert and ABB's RobotStudio, consolidating the dominance of this deployment style. It is essential to keep in mind that the market landscape is ever-changing, with cloud-based solutions gaining popularity owing to their scalability and accessibility from a distance. Owing to such factors, the market in focus is expected to witness significant growth during the forecast period.
The oil and gas industry is a capital-intensive and high-risk-bearing industry and encompasses several operations that are generally carried out in remote locations and are subjected to several harsh conditions. Factors such as the high cost of energy exploration and production, the increased need for safety in oil and gas operations, the absence of a skilled workforce, and the need to minimize operational expenditure have 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 this industry. Moreover, the global demand for oil and gas is steadily growing with the increasing frequency of airline operations. Such factors are expected to increase the demand for industrial automation device manager software from the oil and gas end-user segment, which is expected to drive the growth of the market during the forecast period.
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APAC is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In terms of revenue, APAC will experience a lower growth rate in comparison to other regions during the forecast period. However, the region is expected to feature an increase in growth over the forecast period, owing to continued contributions from the markets in China, South Korea, Japan, India, Vietnam, Malaysia, and Australia. Factors such as the rising population and improving per capita incomes of people have led to higher consumption habits, which is the key driver of growing industrialization in the region.
In addition, the oil and gas industry in APAC is estimated to grow during the forecast period owing to factors such as growing sales of automobiles and, subsequently, the increasing demand for diesel and petrol. Moreover, offshore and onshore oil and gas activities are likely to correspond with significant growth in the industrial automation device manager software market in the region during the forecast period.
The market in the region faced certain challenges as the outbreak of COVID-19 in 2020 affected several countries in the region, including China, India, South Korea, and Japan. However, due to the large-scale vaccination drives in the region contributed to the regrowth of the regional market as the containment of the pandemic led to the resumption of manufacturing and commercial activities. The growth factors for the APAC market include rising investments in Industry 4.0 technologies, government programs to increase manufacturing automation, and an increasing understanding of the advantages of IIoT solutions, all of which are expected to drive significant expansion of the regional market during the forecast period.
The Industrial Automation Device Manager Software Market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Industrial Automation Device Manager Software Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ABB Ltd. - The company offers industrial automation device manager software namely ABB Ability Industrial Software.
Advantech Co. Ltd. -The company offers industrial automation device manager software namely Advantech WebAccess SCADA.
Danaher Corp. - The company offers industrial automation device manager software such as Blue software through its subsidiary Esko.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The industrial automation device manager software market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Industrial Automation Device Manager Software Market Scope |
|
Report Coverage |
Details |
Page number |
193 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.72% |
Market Growth 2024-2028 |
USD 1,567.8 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.48 |
Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
Performing market contribution |
APAC at 39% |
Key countries |
US, China, Japan, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ABB Ltd., Advantech Co. Ltd., Danaher Corp., Delta Electronics Inc., Digi International Inc., Eaton Corp. Plc, Emerson Electric Co., Endress Hauser Group Services AG, Flexera Software LLC, General Electric Co., Hitachi Vantara LLC, Honeywell International Inc., Moxa Inc., OMRON Corp., Parsec Automation Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, WAGO GmbH and Co. KG, and Yokogawa Electric Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Deployment
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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