The global Industrial Software market size was valued at USD 99.33 billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 7.8% during the forecast period, reaching a value of USD 149.10 billion by 2030.
Industrial Software market research report by Future Data Stats, offers a comprehensive view of the market's historical data from 2018 to 2021, capturing trends, growth patterns, and key drivers. It establishes 2022 as the base year, analyzing the market landscape, consumer behavior, competition, and regulations. Additionally, the report presents a well-researched forecast period from 2023 to 2030, leveraging data analysis techniques to project the market's growth trajectory, emerging opportunities, and anticipated challenges.
MARKET OVERVIEW:
Industrial software refers to applications and programs designed to streamline and enhance various processes within manufacturing and industrial settings. These software solutions play a pivotal role in optimizing operations, increasing productivity, and ensuring quality control. They empower organizations to manage and monitor complex machinery, track inventory, and improve resource allocation. Industrial software, in essence, acts as a vital tool in today's industrial landscape, helping companies achieve greater efficiency and competitiveness.
Moreover, industrial software encompasses a wide range of applications, including supervisory control and data acquisition (SCADA), enterprise resource planning (ERP), and manufacturing execution systems (MES). It enables seamless communication between different components of a production line, offering real-time data analysis and reporting. In sum, industrial software represents a cornerstone in modern manufacturing, driving innovation and operational excellence.
MARKET DYNAMICS:
Companies are realizing the potential of industrial software to enhance efficiency and reduce operational costs. This surge in adoption is bolstered by the need for real-time monitoring and control, which is critical for modern manufacturing and industrial operations.
However, the market also faces certain restraints, such as the complexity of integrating industrial software into existing systems. The transition to these advanced solutions can be challenging for some organizations, as it requires significant investments and the potential for disruption. Additionally, concerns about data security and privacy pose another restraint, as industrial software often deals with sensitive information.
The growing emphasis on the Internet of Things (IoT) and Industry 4.0 initiatives opens new doors for industrial software, facilitating seamless connectivity and data exchange between devices and systems. Furthermore, the rise of cloud-based solutions and edge computing offers scalability and flexibility in deploying industrial software.
INDUSTRIAL SOFTWARE MARKET SEGMENTAL ANALYSIS
BY TYPE:
Product Lifecycle Management (PLM) software is crucial for managing product development and optimization, enhancing collaboration, and reducing time-to-market. It plays a pivotal role in product design and innovation. Computer-Aided Design (CAD) software empowers engineers and designers with tools to create precise and detailed digital representations of products. This enhances product development and streamlines the design process. Manufacturing Execution Systems (MES) serve as the backbone for real-time monitoring and control of production processes. They ensure efficiency and quality in manufacturing operations.
Enterprise Resource Planning (ERP) software integrates various business functions, enhancing data visibility and decision-making. It optimizes resource allocation and provides a holistic view of an organization's operations. Customer Relationship Management (CRM) software is vital for maintaining strong customer relations and improving sales and marketing efforts. It facilitates customer data management and personalized interactions. Supply Chain Management (SCM) software is essential for optimizing the supply chain, enhancing inventory management, and ensuring smooth logistics operations.
Industrial Automation Software enables the automation of industrial processes, reducing manual intervention and increasing efficiency. Human Machine Interface (HMI) software offers a user-friendly interface for interacting with machines and systems, enhancing control and monitoring capabilities. Supervisory Control and Data Acquisition (SCADA) software is critical for real-time data collection and process control in various industries.
Distributed Control Systems (DCS) software plays a key role in process control and automation in large industrial facilities. Industrial Internet of Things (IIoT) Platforms enable connectivity and data exchange between devices, enhancing data-driven decision-making and predictive maintenance. Asset Management Software is crucial for tracking and maintaining assets efficiently, optimizing their lifecycle. Predictive Maintenance Software utilizes data analytics and machine learning to predict equipment failures and optimize maintenance schedules.
BY APPLICATION:
In this sector, industrial software is essential for managing complex design and manufacturing processes, ensuring compliance with stringent regulations, and maintaining high levels of security and precision. Industrial software is crucial in streamlining manufacturing operations, enhancing product design, and managing supply chains efficiently. It contributes to the competitiveness and innovation of automotive companies.
Industrial software is integral in optimizing chemical processes, ensuring safety compliance, and managing complex production operations, thus improving efficiency and safety standards. This sector relies on industrial software for monitoring and controlling energy production and distribution. It plays a key role in managing assets, reducing downtime, and ensuring grid reliability.
In healthcare, industrial software is essential for managing healthcare operations, patient data, and the supply chain. It contributes to better patient care, resource allocation, and cost control. Industrial software is pivotal for optimizing supply chain management, tracking shipments, and ensuring efficient logistics operations. It enhances transparency and traceability in the transportation sector.
BY DEPLOYMENT:
On-premise deployment is favored by organizations seeking complete control over their industrial software solutions. It ensures that the software is hosted within the company's infrastructure, providing robust security and customization options. This model aligns with industries that prioritize data privacy and have strict regulatory requirements, but it may involve higher initial capital investment and maintenance costs.
Cloud deployment has gained immense popularity in recent years due to its scalability and flexibility. It allows businesses to access industrial software as a service, reducing the burden of infrastructure management. Cloud-based solutions are often preferred by companies looking for cost-effective and agile software deployment. This approach is ideal for industries seeking rapid implementation and the ability to adapt to changing market dynamics.
Hybrid deployment combines the best of both worlds. It offers the flexibility to choose between on-premise and cloud components, allowing organizations to customize their solutions to fit specific needs. This approach is valuable for industries where a combination of on-premise security and cloud scalability is required.
REGIONAL ANALYSIS:
North America, with its advanced manufacturing infrastructure, plays a pivotal role in the industrial software market. The region demonstrates a robust appetite for cutting-edge technologies, driving innovation and shaping the industry's direction. Europe, with its focus on Industry 4.0 initiatives, is a hub for industrial software adoption, emphasizing automation, digitization, and sustainability. Asia Pacific, home to some of the world's largest manufacturing economies, presents significant growth opportunities, driven by increased industrialization, particularly in countries like China and India. Latin America showcases a growing interest in industrial software, primarily driven by the automotive and energy sectors. Finally, the Middle East and Africa region is progressively adopting industrial software solutions to improve efficiency in energy and manufacturing operations, making it a notable player in the market's regional analysis.
COVID-19 IMPACT:
As the world grappled with lockdowns and social distancing measures, many industries faced challenges in maintaining operations. However, the crisis also underscored the importance of industrial software in adapting to these unprecedented circumstances. Companies turned to software solutions to enable remote monitoring, automation, and real-time data analysis, allowing them to continue critical operations while ensuring the safety of their workforce.
INDUSTRY ANALYSIS:
Mergers & Acquisitions
- Siemens acquires Mentor Graphics for $4.5 billion
- PTC acquires Onshape for $1.4 billion
- Dassault Systèmes acquires Medidata Solutions for $5.6 billion
- Hexagon AB acquires MSC Software for $3.6 billion
- Aveva acquires OSIsoft for $5 billion
Product New Launches
- Siemens launches Xcelerator, its new digital industry software platform
- PTC launches Creo 9, its latest CAD software
- Dassault Systèmes launches 3DEXPERIENCE 2023, its latest product lifecycle management (PLM) software
- Hexagon AB launches HxGN INSight, its new reality capture software
- Aveva launches PI System 2023, its latest industrial historian software
KEY MARKET PLAYERS:
- Siemens
- ABB
- Schneider Electric
- Honeywell
- Rockwell Automation
- Emerson Electric
- General Electric
- Dassault Systèmes
- PTC
- SAP
- IBM
- Microsoft
- Oracle
- Autodesk
- Bentley Systems
- Yokogawa Electric
- National Instruments
- Hexagon
- L&T Technology Services
- Aspen Technology
- Schneider Electric
- Cognex Corporation
- Fanuc Corporation
- Datalogic
- Mitsubishi Electric
- others
Table of Contents:
-
Introduction
- Background and Overview
-
Market Overview
- Industry Landscape
- Market Size and Growth
- Key Trends
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Market Segmentation
- By Type
- By Application
- By Region
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Types of Industrial Software
- SCADA Software
- PLC Software
- MES Software
- CAD Software
- CAM Software
- CMMS Software
- ERP Software
- CRM Software
- HMI Software
- WMS Software
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Applications of Industrial Software
- Manufacturing
- Energy and Utilities
- Automotive
- Aerospace and Defense
- Healthcare
- Others
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Regional Analysis
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
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Market Drivers
- Technological Advancements
- Increasing Automation
- Demand for Efficiency
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Market Challenges
- Security Concerns
- Integration Complexities
- Regulatory Compliance
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Competitive Landscape
- Key Players
- Market Share Analysis
- Strategies and Partnerships
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Future Outlook
- Emerging Technologies
- Growth Opportunities
- Market Forecast
-
Conclusion
-
Appendix
- Methodology
- Sources
- Glossary
Industrial Software market Segmentation:
By Type:
- Product Lifecycle Management (PLM)
- Computer-Aided Design (CAD)
- Manufacturing Execution Systems (MES)
- Enterprise Resource Planning (ERP)
- Customer Relationship Management (CRM)
- Supply Chain Management (SCM)
- Industrial Automation Software
- Human Machine Interface (HMI)
- Supervisory Control and Data Acquisition (SCADA)
- Distributed Control Systems (DCS)
- Industrial Internet of Things (IIoT) Platforms
- Asset Management Software
- Predictive Maintenance Software
By Application:
- Aerospace and Defense
- Automotive
- Chemicals and Petrochemicals
- Construction
- Consumer Goods
- Electronics
- Energy and Utilities
- Food and Beverage
- Healthcare
- Industrial Manufacturing
- Metals and Mining
- Oil and Gas
- Transportation and Logistics
By Deployment:
- On-Premise
- Cloud
- Hybrid
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RESEARCH METHODOLOGY
With a collective industry experience of about 70 years of analysts and experts, Future Data Stats encompasses the most infallible research methodology for its market intelligence and industry analysis. Not only does the company dig deep into the innermost levels of the market, but also examines the minutest details for its market estimates and forecasts.
This approach helps build a greater market-specific view of size, shape, and industry trends within each industry segment. Various industry trends and real-time developments are factored into identifying key growth factors and the future course of the market. The research proceeds are the results of high-quality data, expert views & analysis, and valuable independent opinions. The research process is designed to deliver a balanced view of the global markets and allows stakeholders to make informed decisions, to attain their highest growth objectives.
Future Data Stats offers its clients exhaustive research and analysis, based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models distill the data & statistics and enhance the accuracy of our recommendations and advice.
With Future Data Stats calibrated research process and 360° data-evaluation methodology, the clients receive:
- Consistent, valuable, robust, and actionable data & analysis that can easily be referenced for strategic business planning
- Technologically sophisticated and reliable insights through a well-audited and veracious research methodology
- Sovereign research proceeds that present a tangible depiction of the marketplace
With this strong methodology, Future Data Stats ensures that its research and analysis is most reliable and guarantees sound business planning.
The research methodology of the global market involves extensive primary and secondary research. Primary research includes about 24 hours of interviews and discussions with a wide range of stakeholders that include upstream and downstream participants. Primary research typically is a bulk of our research efforts, coherently supported by extensive secondary research. Over 3000 product literature, industry releases, annual reports, and other such documents of key industry participants have been reviewed to obtain a better market understanding and gain enhanced competitive intelligence. In addition, authentic industry journals, trade associations’ releases, and government websites have also been reviewed to generate high-value industry insights.
Primary Research:
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Primary Research
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Desk Research
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Company Analysis
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• Identify key opinion leaders • Questionnaire design • In-depth Interviews • Coverage across the value chain
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• Company Website • Company Annual Reports • Paid Databases • Financial Reports
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• Market Participants • Key Strengths • Product Portfolio • Mapping as per Value Chain • Key focus segment
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Primary research efforts include reaching out to participants through emails, telephonic conversations, referrals, and professional corporate relations with various companies that make way for greater flexibility in reaching out to industry participants and commentators for interviews and discussions.
The aforementioned helps to:
- Validate and improve data quality and strengthen the research proceeds
- Develop a market understanding and expertise
- Supply authentic information about the market size, share, growth, and forecasts
The primary research interview and discussion panels comprise experienced industry personnel.
These participants include, but are not limited to:
- Chief executives and VPs of leading corporations specific to an industry
- Product and sales managers or country heads; channel partners & top-level distributors; banking, investments, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research:
A broad array of industry sources for the secondary research typically includes, but is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for a competitive scenario and shape of the industry
- Patent and regulatory databases to understand technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles, web-casts, and other related releases to evaluate the market
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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PRIMARY SOURCES |
DATA SOURCES |
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• Top executives of end-use industries • C-level executives of the leading Parenteral Nutrition companies • Sales manager and regional sales manager of the Parenteral Nutrition companies • Industry Consultants • Distributors/Suppliers
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• Annual Reports • Presentations • Company Websites • Press Releases • News Articles • Government Agencies’ Publications • Industry Publications • Paid Databases
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Analyst Tools and Models:
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BOTTOM-UP APPROACH |
TOP-DOWN APPROACH |
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· Arriving at · Arriving at · Market Share · Key Market Players |
· Key Market Players · Market Share · Arriving at · Arriving at |
Industrial Software Market Dynamic Factors
Drivers:
- Increasing demand for automation and digitization in manufacturing and industrial processes.
- Emphasis on real-time monitoring and control for enhanced efficiency.
- Growth of Industry 4.0 and the Internet of Things (IoT) initiatives.
- Need for data-driven decision-making and predictive maintenance.
- Expanding applications in various industries, including automotive, aerospace, and healthcare.
Restraints:
- Complex integration of industrial software into existing systems.
- Concerns about data security and privacy.
- High initial investment and maintenance costs.
- Resistance to change and cultural barriers in some industries.
- Potential disruptions during software implementation.
Opportunities:
- Expansion of cloud-based solutions for scalability and flexibility.
- Leveraging data analytics and machine learning for improved operations.
- Enhanced supply chain management and logistics through industrial software.
- Adoption in emerging markets and industries with growth potential.
- Development of customized, industry-specific software solutions.
Challenges:
- Navigating regulatory compliance and industry-specific standards.
- Ensuring data accuracy and reliability for real-time decision-making.
- Addressing the skills gap for implementing and managing industrial software.
- Competition and consolidation within the industrial software market.
- Adapting to rapidly evolving technology and industry trends.
Frequently Asked Questions
