Industrial Software Market Insights Reveal Key Trends in Digital Transformation

The global industrial software market size was estimated at USD 20.35 billion in 2023 and is expected to grow at a CAGR of 16.8% from 2024 to 2030. The increasing adoption of automation and digital transformation across industries is a major contributor as companies seek to enhance efficiency, reduce operational costs, and improve product quality. The rise of Industry 4.0 technologies, such as the Industrial Internet of Things (IIoT), artificial intelligence, and machine learning, also propels demand for advanced software solutions that can analyze data, optimize processes, and predict maintenance needs. Furthermore, the rapid expansion of cloud computing and the shift towards Software-as-a-Service (SaaS) models are also making industrial software more accessible to a broader range of businesses, including small and medium-sized enterprises.

The integration of industrial software, such as Supervisory Control and Data Acquisition (SCADA), robotic software, and Manufacturing Execution System (MES), with Product Lifecycle Management (PLM) and Enterprise Resource Planning (ERP) solutions offers significant growth opportunities for the market. This convergence enables seamless data flow and synchronization across various business processes, enhancing operational efficiency and decision-making. Integrating MES with ERP allows companies to gain real-time visibility into production operations, inventory management, and financials, leading to optimized resource utilization and cost savings.

In addition, linking MES with PLM improves the management of product development cycles, ensuring that manufacturing processes align with design specifications and quality standards. This comprehensive approach enhances production accuracy and speed while fostering innovation by providing a complete view of the product lifecycle from inception to delivery. As businesses increasingly seek integrated systems to boost agility and competitiveness, the demand for advanced industrial software solutions that support such integration is expected to grow, driving market expansion and innovation.

Gather more insights about the market drivers, restrains and growth of the Global Industrial Software Market

Regional Insights

North America dominated with a revenue share of 33.96% in 2023. The region’s strong presence in advanced manufacturing industries, including aerospace, automotive, and electronics, has fueled the demand for industrial software solutions that enhance operational efficiency and competitiveness. North America is also a hub for technological innovation, with significant investments in digital transformation, automation, and Industry 4.0 practices. The region’s well-established infrastructure, combined with the presence of leading software providers and technology companies, has further supported the widespread adoption of industrial software. Moreover, the emphasis on sustainability and energy efficiency in manufacturing processes has driven the integration of advanced software solutions that monitor and optimize resource use.

Key Industrial Software Company Insights

Key industrial software companies, including ABB, Rockwell Automation, and Emerson Electric Co., are expanding their customer base and gaining a competitive edge over their rivals. Hence, they pursue various strategic initiatives, including partnerships, mergers & acquisitions, collaborations, and new product/ technology development. For instance, in May 2024, Forterro, a provider of highly specialized software products and services, announced the launch of Fortee in the UK. This entry-level, cloud-based ERP solution is tailored to meet the needs of industrial startups and SME discrete manufacturers. Fortee is built upon 15 years of expertise in cloud ERP, incorporating extensive learning and insights gained over the years.

Key Industrial Software Companies:

The following are the leading companies in the industrial software market. These companies collectively hold the largest market share and dictate industry trends.

• ABB
• Rockwell Automation
• Emerson Electric Co.
• General Electric Company
• Honeywell International, Inc.
• SAP SE
• OMRON Corporation
• Hexagon AB
• Siemens
• Oracle

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