ARC Advisory Group’s recent research on the industrial software market reveals that with Industry 4.0, we have entered the next phase in the digitalization of the industrial sector. We continue to see integration of intelligent digital technologies, such as Big Data, Industrial IoT, Cloud Computing, and Robotics, into industrial processes. With the on-going shift, software continues to assume increasing importance in industrial automation as a primary means of adding incremental value, increasing competitive differentiation, and advancing customer stickiness. As a result, the industrial software market continues to expand in terms of capabilities as well as market size.
"Various advancements in artificial intelligence (AI), and specifically generative AI are generating a greater interest in the technology from end users as well as technology suppliers. Organizations are taking a fresh look at industrial AI and its potential for reshaping the operational paradigms. These breakthroughs are expected to have a significant impact on the industrial software segment accelerating market growth. The outlook remains positive for industrial software solutions because the macro trends that underlie the growth in this market are still in place. These trends include globalization, infrastructure expansion, emerging economies, digitalization, an increasing middle class in Asia, and the ongoing need to improve uptime and reduce unplanned downtime,” according to Inderpreet Shoker, Director of Research and key author of ARC's Total Software Expenditures Market Research.
Total Software Expenditures Market Trends
- AI for Seed Models
- Stalled Progress
- Traditional Reliability Needs Resources
- End User Market Dynamics
- Engineering Design Software
- Advanced Adoption of Mobile Devices
- Convergence of Customer Service and Field Service
- SaaS is Displacing Perpetual Licenses
- Big Data
- Cloud Computing and Services-based Solutions
Leading Suppliers to the Total Software Expenditures Market Identified
In addition to providing specific market data and industry trends, this ARC market research also identifies and positions the leading suppliers to this market and provides and summarizes their relevant offerings. An alphabetical list of key suppliers covered in this analysis includes: Autodesk, AVEVA, Bentley Systems, SAP, Siemens.
About the Total Software Expenditures Market Research
The Total Software Expenditures research explores the current and future market performance and related technology and business trends and identifies leading technology suppliers. This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modelling techniques. The research includes competitive analysis, plus five-year market forecasts. The research segmentation includes World Region, Industry, and Product Type.
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