Global Automation Software Market - Global Market Size, Industry Trends, Competitive Landscape, and Opportunities and Forecast 2022 - 2030
The global market for automation software accounted for US$ 18,804 Mn in 2021 and is anticipated to reach US$ 75,714 Mn by 2030 with a CAGR of 16.9% from 2022 to 2030.
Automation software is a type of software that reduces the need for human input and can be utilized in a range of industries. Automation software, at its most basic level, is meant to convert recurring, routine operations into automated actions. It's utilized in a variety of applications, including business cloud (BPM) and robotic process automation (RPA). From the field to corporate administration, automation software is critical for guaranteeing a high degree of efficiency and functionality in all stages of a factory’s or machine's life cycle. Automation software enables businesses to reduce time-to-market with simplified engineering and simulation tools, improve performance with diagnostics and energy management functionalities, and quickly resolve problems, including via remote access, using automation software.
COVID-19 Impact on the Global Automation Software Market
Coronavirus has left the entire planet unworkable due to its proliferation. Lockdowns and stringent social distancing measures have been enforced in almost every country. Supply networks have been interrupted as a result. The pandemic has wreaked havoc on global systems. IPA solutions are supporting organisations in successfully managing the opportunities even in the midst of a pandemic.
Most firms prefer digital transformation with an emphasis on robotic process automation (RPA) and hyper-automation, which is driving market growth, due to inefficiencies in legacy systems and restricted capacity during the lockout.
The surging demand from robotic process automation industry is the key factor boosting the growth of the global automation software market. In most industries throughout the world, RPA has been the chosen method of applying automation. It boosts process efficiency, operational capability, and agility to help businesses stay ahead of the competition and provide better client experiences. RPA is extremely compatible with legacy systems because to its multitude of easy-to-integrate capabilities.
The combination of RPA and machine learning expands RPA's capabilities beyond rule-based processing to include decision-making skills that are nearly human-like. Artificial intelligence in RPA helps with semi-structured and unstructured data processing, business insights, data integrity, and next-best-step decision-making.
Furthermore, by capturing and analyzing keystrokes from the worker's systems, bot-driven solutions are resolving difficulties inside RPA and uncovering additional automation potential. AI-embedded RPA bots and applications are relieving human workers of monotonous and error-prone tasks as software advance, allowing them to get more done.
The worldwide automation software market is likely to be hampered by factors such as a lack of developed infrastructure in emerging nations for the adoption of modern devices and a shortage of experienced personnel. Furthermore, the high cost of integrating modern solutions into existing structures is projected to limit the target market's growth. Over the projection period, however, rising government spending on educating new professionals, high investment by key companies, and new product launches are projected to generate new opportunities for players in the automation software market. In addition, the target market's revenue growth is predicted to be aided by increased collaboration between regional and international companies.
Product, application, and region are the three categories of the global automation software industry. Based on the product sector, the segmentation includes On-Premises and cloud. Based on our analysis, on-premises segment is expected to dominate the automation software market during the predicted years.
The application segment is further categorized into BFSI, retail and consumer goods, manufacturing, IT & telecom, healthcare and life sciences, education, media and entertainment, and others. The BFSI segment is one of the significant segments in the application market.
Global Automation Software Market Geographical Competition
North America, Europe, Latin America, Asia-Pacific, and the Middle East & Africa are the segmentation of the worldwide Automation Software industry. Because of the high government spending on infrastructure in Asia Pacific, the target market is likely to rise quicker. With the development of artificial intelligence, machine learning, and robotic technology, rapid industrialization in developing countries is changing economies with automated systems. Government spending on healthcare development is expanding, and there is a growing trend toward using advanced robotics to help with service delivery, which is projected to boost the automation software industry.
Global Automation Software Industry Segment Analysis
Market By Product
Market By Application
· IT & Telecom
· Retail and Consumer Goods
· Healthcare and Life Sciences
· Travel and Hospitality
· Media and Entertainment
Automation Software Market Leading Companies
This section of the study honors the market's top vendors Act-On Software, Acoustic, ActiveCampaign, ClickDimensions, GetResponse, HubSpot, Salesforce, Oracle, SAS, and Sendinblue are the key companies mentioned in the research.
Automation Software Market Regions
· Rest of Europe
· Rest of Latin America
· South Korea
· Rest of Asia-Pacific
Middle East & Africa
· South Africa
· Rest of Middle East & Africa