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Global Industrial Software Market (by Platform, End User, & Region): Insights and Forecast with Potential Impact of COVID-19 (2022-2027)

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    Report

  • 152 Pages
  • October 2023
  • Region: Global
  • Koncept Analytics
  • ID: 5895038
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Industrial software is a set of application programs, processes, procedures, and functionalities that may assist in large-scale data collecting, transformation, and administration. Operations, manufacturing, design, construction, mining, textile mills, chemicals, food processing, and service providers are all industries that employ industrial software.

The power of high-performance computing equipment and the availability of vast quantities of memory have transformed industry. Industrial software aids in the digitization of real-world work data for analysis, as well as the preservation of a non-physical record that cannot be destroyed, lost, or stolen. Industrial software is offered in a variety of configurations to support the various processes used by an industry. The global industrial software market is expected to be worth US$110.50 billion in 2023, growing at a CAGR of 9.25% over the forecasted period.

Segment Covered

By Platform: In terms of type, the report identifies two segments of the global industrial software market: On Premise and Cloud. Among the platform, cloud segment is expected to be the fastest growing segment in the forecasted period. Companies can achieve immediateness, efficiency, resource planning activity optimization, scalability, and accessibility by deploying cloud based industrial software. Additionally, it provides advantages like quicker implementation and lower upfront costs, which are foreseen as major factors propelling growth of the segment during the forecasted period.

By End User: On the basis of end user, the global industrial software market has been segmented into eight end users: BFSI, IT & Telecom, Manufacturing, Government, Healthcare, Retail, Aerospace & Defense and Others. Among the end user, BFSI dominated the industrial software market. Companies that specialize in delivering a variety of financial products/services, such as universal banks, make up the banking, financial services, and insurance (BFSI) market. This market has shown great expansion in recent years, and it is predicted to enhance the industrial software market during the forecast period. Software solutions assist banks in tracking transactions and generating accurate portfolio reports. The software's user-friendly interface includes a variety of charts, analytics, and other data blocks. Easy data access, digital banking, and fintech startups are driving the growth of the BFSI software market.

Geographic Coverage

According to this report, the global industrial software market is divided into four regions: North America, Europe, Asia Pacific, and ROW. The countries covered in North America region are the US, Canada, and Mexico, while Europe includes Germany, The UK, France, Italy, and Rest of the Europe. Moreover, China, Japan, South Korea, India, Rest of the Asia Pacific are included in the Asia Pacific region. North America accounted for the maximum share of the global market. The significant market share of this region is primarily attributable to elements like the increasing adoption of industrial software by small and medium-sized businesses, the increasing investments made by vendors in the creation of software using cutting-edge technologies, and the existence of numerous market players. The market is also anticipated to grow over the forecast period as a result of increased accessibility to software functions through smartphone applications. Furthermore, the Asia Pacific market is expected to expand as a result of the thriving manufacturing sector and expanding small and medium enterprises. Many businesses in the area have already adopted on-premises industrial software solutions to boost their organizations' productivity and performance. Additionally, the market is expected to grow as a result of the rising number of start-ups and their rising demands for cloud-based software. Government support for IT infrastructure implementation is expected to boost demand for industrial software over the forecast period.

Top Impacting Factors

Growth Drivers

  • Growing Electronics Industry
  • Surging Adoption of Industrial Cloud Computing Technology
  • Rapid Installations of Industrial Robots
  • Rising Adoption of Digital Transformation

Challenges

  • Problem of Cyber Security
  • High Initial Capital Investment

Trends

  • Integration of Artificial Intelligence (AI) with Industrial Software
  • Increasing Adoption of Industrial Internet of Things (IIoT)
  • Increasing Industrial Spending on R&D
  • Growing Adoption of Automation in Raw Material Industries

Driver: Growing Electronics Industry

Companies in the electrical and electronics industries must continuously develop innovative products and bring them to market in the shortest amount of time possible by speeding up their processes while lowering costs. The electrical and electronics industry is currently under pressure to accelerate its processes, cut costs, and boost efficiency and productivity. For these reasons, it is critical to implement specialized industrial software that facilitates the implementation of lean manufacturing techniques and provides functions for component manufacturers, service providers to the electronics industry, and OEMs serving the industrial, consumer goods, and telecommunications markets. Industrial software aids in the reduction of time to market, the enhancement of products through the addition of services, the synchronization of the entire supply chain, and real-time collaboration with partners to respond to market changes.

Challenge: High Initial Capital Investment

Although integration of industrial software improves the automation and is cost effective but, the initial capital investment required for technology implementation and employee training is significant. Furthermore, due to the industry's fragmentation, the return on investment (ROI) cannot be predicted. Small and medium-sized enterprises (SMEs) are hesitant to adopt technology because of the high upfront costs and uncertain return on investment. Therefore, high initial capital investments are impeding the growth of the market.

Trend: Integration of Artificial Intelligence (AI) with Industrial Software

Big data and AI provide a significant boost to Industry 4.0. Intelligent software solutions can use a factory's massive amounts of data to identify trends and patterns that can then be used to improve manufacturing processes and reduce energy consumption. This is how plants constantly adapt to new circumstances and optimize themselves without the need for operator intervention. As the level of networking increases, AI software can learn to "read between the lines," leading to the discovery of many complex connections in systems that aren't yet or are no longer visible to the human eye. Thus, integration of AI would support the growth of industrial software market in the coming years.

The COVID-19 Analysis

Like many sectors, COVID-19 has also impacted the industrial software market. Government-imposed factory and plant closures, as well as travel restrictions, had a significant impact on manufacturing facilities and other industries. Demand for industrial software fell precipitously as a result of the temporary closure of end-use industries. New technological approaches for logistics chain development, production, and management, also known as smart factory automation, are centered on the Industrial Internet of Things (IIoT) and Industry 4.0. These are the prevalent trends in the industrial sector, which would drive the market growth in the post COVID period.

Analysis of Key Players

The industrial software market is moderately fragmented, with some high-growth segments like cloud infrastructure and services, cybersecurity, and data analytics. The key players in the global industrial software market are Microsoft Corporation, Siemens AG (Siemens Digital Industries Software), IBM Corporation, Oracle Corporation, Salesforce Inc., ABB Group, Honeywell International Inc., Dassault Systèmes SE, Amazon.Com, Inc. (Amazon Web Services, Inc.), Cadence Design Systems, Inc., Synopsys Inc., and SAP.

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Table of Contents


1. Executive Summary
2. Introduction
2.1 Industrial Software: An Overview
2.1.1 Benefits of Industrial Software
2.1.2 Aspects of Industrial Software
2.2 Industrial Software Segmentation: An Overview
2.2.1 Industrial Software Segmentation
3. Global Market Analysis
3.1 Global Industrial Software Market: An Analysis
3.1.1 Global Industrial Software Market: An Overview
3.1.2 Global Industrial Software Market by Value
3.1.3 Global Industrial Software Market by Platform (On Premise and Cloud)
3.1.4 Global Industrial Software Market by End User (BFSI, IT & Telecom, Manufacturing, Government, Healthcare, Retail, Aerospace & Defense and Others)
3.1.5 Global Industrial Software Market by Region (North America, Europe, Asia Pacific, and rest of the World (ROW))
3.2 Global Industrial Software Market: Platform Analysis
3.2.1 Global Industrial Software Market by Platform: An Overview
3.2.2 Global On Premise Industrial Software Market by Value
3.2.3 Global Cloud Industrial Software Market by Value
3.3 Global Industrial Software Market: End User Analysis
3.3.1 Global Industrial Software Market by End User: An Overview
3.3.2 Global BFSI Software Market by Value
3.3.3 Global IT & Telecom Software Market by Value
3.3.4 Global Manufacturing Software Market by Value
3.3.5 Global Government Software Market by Value
3.3.6 Global Healthcare Software Market by Value
3.3.7 Global Retail Software Market by Value
3.3.8 Global Aerospace & Defence Software Market by Value
3.3.9 Global Other Industrial Software Market by Value
4. Regional Market Analysis
4.1 North America Industrial Software Market: An Analysis
4.1.1 North America Industrial Software Market: An Overview
4.1.2 North America Industrial Software Market by Value
4.1.3 North America Industrial Software Market by Region (The US, Canada and Mexico)
4.1.4 The US Industrial Software Market by Value
4.1.5 Canada Industrial Software Market by Value
4.1.6 Mexico Industrial Software Market by Value
4.2 Europe Industrial Software Market: An Analysis
4.2.1 Europe Industrial Software Market: An Overview
4.2.2 Europe Industrial Software Market by Value
4.2.3 Europe Industrial Software Market by Region (Germany, The UK, France, Italy and Rest of the Europe)
4.2.4 Germany Industrial Software Market by Value
4.2.5 The UK Industrial Software Market by Value
4.2.6 France Industrial Software Market by Value
4.2.7 Italy Industrial Software Market by Value
4.2.8 Rest of Europe Industrial Software Market by Value
4.3 Asia Pacific Industrial Software Market: An Analysis
4.3.1 Asia Pacific Industrial Software Market: An Overview
4.3.2 Asia Pacific Industrial Software Market by Value
4.3.3 Asia Pacific Industrial Software Market by Region (China, Japan, South Korea, India, and Rest of Asia Pacific)
4.3.4 China Industrial Software Market by Value
4.3.5 Japan Industrial Software Market by Value
4.3.6 South Korea Industrial Software Market by Value
4.3.7 India Industrial Software Market by Value
4.3.8 Rest of Asia Pacific Industrial Software Market by Value
4.4 Rest of World Industrial Software Market: An Analysis
4.4.1 Rest of World Industrial Software Market: An Overview
4.4.2 Rest of World Industrial Software Market by Value
5. Impact of COVID-19
5.1 Impact of COVID-19
5.1.1 Impact of COVID-19 on Industrial Software Market
5.1.2 Post-COVID Scenario
6. Market Dynamics
6.1 Growth Drivers
6.1.1 Growing Electronics Industry
6.1.2 Surging Adoption of Industrial Cloud Computing Technology
6.1.3 Rapid Installations of Industrial Robots
6.1.4 Growing Spending on Software
6.1.5 Rise of Industry 4.0
6.1.6 Growing Need to Improve Operational Efficiency
6.1.7 Rising Adoption of Digital Transformation
6.2 Challenges
6.2.1 Problem of Cyber Security
6.2.2 High Initial Capital Investment
6.3 Market Trends
6.3.1 Integration of Artificial Intelligence (AI) with Industrial Software
6.3.2 Increasing Adoption of Industrial Internet of Things (IIoT)
6.3.3 Increasing Industrial Spending on R&D
6.3.4 Rising Implementation of Digital Twin
6.3.5 Growing Adoption of Automation in Raw Material Industries
7. Competitive Landscape
7.1 Global Healthcare CMO Market Players Financial Comparison
7.2 Global Healthcare CMO Market Players by Research & Development (R&D) Expenses
8. Company Profiles
8.1 IBM Corporation
8.1.1 Business Overview
8.1.2 Operating Segments
8.1.3 Business Strategy
8.2 Microsoft Corporation
8.2.1 Business Overview
8.2.2 Operating Segments
8.2.3 Business Strategy
8.3 Oracle Corporation
8.3.1 Business Overview
8.3.2 Operating Businesses
8.3.3 Business Strategy
8.4 Salesforce Inc.
8.4.1 Business Overview
8.4.2 Revenues From Sources
8.4.3 Business Strategy
8.5 SAP SE
8.5.1 Business Overview
8.5.2 Operating Segments
8.5.3 Business Strategy
8.6 Siemens AG (Siemens Digital Industries Software)
8.6.1 Business Overview
8.6.2 Operating Segments
8.6.3 Business Strategy
8.7 ABB Group
8.7.1 Business Overview
8.7.2 Operating Businesses
8.7.3 Business Strategy
8.8 Honeywell International Inc.
8.8.1 Business Overview
8.8.2 Operating Segments
8.8.3 Business Strategy
8.9 Dassault Systèmes SE
8.9.1 Business Overview
8.9.2 Operating Regions
8.9.3 Business Strategy
8.10 Amazon.Com, Inc. (Amazon Web Services, Inc.)
8.10.1 Business Overview
8.10.2 Operating Segments
8.10.3 Business Strategy
8.11 Cadence Design Systems, Inc.
8.11.1 Business Overview
8.11.2 Operating Regions
8.11.3 Business Strategy
8.12 Synopsys Inc.
8.12.1 Business Overview
8.12.2 Operating Segments
8.12.3 Business Strategy
List of Charts
  • Benefits of Industrial Software
  • Aspects of Industrial Software
  • Industrial Software Segmentation
  • Global Industrial Software Market by Value; 2017-2021 (US$ Billion)
  • Global Industrial Software Market by Value; 2022-2027 (US$ Billion)
  • Global Industrial Software Market by Platform; 2021 (Percentage, %)
  • Global Industrial Software Market by End User; 2021 (Percentage, %)
  • Global Industrial Software Market by Region; 2021 (Percentage, %)
  • Global On Premise Industrial Software Market by Value; 2017-2021 (US$ Billion)
  • Global On Premise Industrial Software Market by Value; 2022-2027 (US$ Billion)
  • Global Cloud Industrial Software Market by Value; 2017-2021 (US$ Billion)
  • Global Cloud Industrial Software Market by Value; 2022-2027 (US$ Billion)
  • Global BFSI Software Market by Value; 2017-2021 (US$ Billion)
  • Global BFSI Software Market by Value; 2022-2027 (US$ Billion)
  • Global IT & Telecom Software Market by Value; 2017-2021 (US$ Billion)
  • Global IT & Telecom Software Market by Value; 2022-2027 (US$ Billion)
  • Global Manufacturing Software Market by Value; 2017-2021 (US$ Billion)
  • Global Manufacturing Software Market by Value; 2022-2027 (US$ Billion)
  • Global Government Software Market by Value; 2017-2021 (US$ Billion)
  • Global Government Software Market by Value; 2022-2027 (US$ Billion)
  • Global Healthcare Software Market by Value; 2017-2021 (US$ Billion)
  • Global Healthcare Software Market by Value; 2022-2027 (US$ Billion)
  • Global Retail Software Market by Value; 2017-2021 (US$ Billion)
  • Global Retail Software Market by Value; 2022-2027 (US$ Billion)
  • Global Aerospace & Defence Software Market by Value; 2017-2021 (US$ Billion)
  • Global Aerospace & Defence Software Market by Value; 2022-2027 (US$ Billion)
  • Global Other Industrial Software Market by Value; 2017-2021 (US$ Billion)
  • Global Other Industrial Software Market by Value; 2022-2027 (US$ Billion)
  • North America Industrial Software Market by Value; 2017-2021 (US$ Billion)
  • North America Industrial Software Market by Value; 2022-2027 (US$ Billion)
  • North America Industrial Software Market by Region; 2021 (Percentage, %)
  • The US Industrial Software Market by Value; 2017-2021 (US$ Billion)
  • The US Industrial Software Market by Value; 2022-2027 (US$ Billion)
  • Canada Industrial Software Market by Value; 2017-2021 (US$ Billion)
  • Canada Industrial Software Market by Value; 2022-2027 (US$ Billion)
  • Mexico Industrial Software Market by Value; 2017-2021 (US$ Billion)
  • Mexico Industrial Software Market by Value; 2022-2027 (US$ Billion)
  • Europe Industrial Software Market by Value; 2017-2021 (US$ Billion)
  • Europe Industrial Software Market by Value; 2022-2027 (US$ Billion)
  • Europe Industrial Software Market by Region; 2021 (Percentage, %)
  • Germany Industrial Software Market by Value; 2017-2021 (US$ Billion)
  • Germany Industrial Software Market by Value; 2022-2027 (US$ Billion)
  • The UK Industrial Software Market by Value; 2017-2021 (US$ Billion)
  • The UK Industrial Software Market by Value; 2022-2027 (US$ Billion)
  • France Industrial Software Market by Value; 2017-2021 (US$ Billion)
  • France Industrial Software Market by Value; 2022-2027 (US$ Billion)
  • Italy Industrial Software Market by Value; 2017-2021 (US$ Billion)
  • Italy Industrial Software Market by Value; 2022-2027 (US$ Billion)
  • Rest of Europe Industrial Software Market by Value; 2017-2021 (US$ Billion)
  • Rest of Europe Industrial Software Market by Value; 2022-2027 (US$ Billion)
  • Asia Pacific Industrial Software Market by Value; 2017-2021 (US$ Billion)
  • Asia Pacific Industrial Software Market by Value; 2022-2027 (US$ Billion)
  • Asia Pacific Industrial Software Market by Region; 2021 (Percentage, %)
  • China Industrial Software Market by Value; 2017-2021 (US$ Billion)
  • China Industrial Software Market by Value; 2022-2027 (US$ Billion)
  • Japan Industrial Software Market by Value; 2017-2021 (US$ Billion)
  • Japan Industrial Software Market by Value; 2022-2027 (US$ Billion)
  • South Korea Industrial Software Market by Value; 2017-2021 (US$ Billion)
  • South Korea Industrial Software Market by Value; 2022-2027 (US$ Billion)
  • India Industrial Software Market by Value; 2017-2021 (US$ Billion)
  • India Industrial Software Market by Value; 2022-2027 (US$ Billion)
  • Rest of Asia Pacific Industrial Software Market by Value; 2017-2021 (US$ Billion)
  • Rest of Asia Pacific Industrial Software Market by Value; 2022-2027 (US$ Billion)
  • Rest of World Industrial Software Market by Value; 2017-2021 (US$ Billion)
  • Rest of World Industrial Software Market by Value; 2022-2027 (US$ Billion)
  • Global Electronics Industry Growth Rate; 2020-2022 (Percentage, %)
  • Global Cloud Spending Budget as a Part of Total IT Budget; 2020-2027 (Percentage, %)
  • Global Annual Installation of Industrial Robots; 2019-2024 (Thousand Units)
  • Global IT Spending Growth; 2022 & 2023 (Percentage, %)
  • Global Artificial Intelligence Software Market Revenue; 2018-2025 (US$ Billion)
  • Global Spending on Enterprise IOT Technologies; 2019-2027 (US$ Billion)
  • Global Industrial R&D Spending; 2016-2021 (Percentage, %)
  • Global Industrial Software Players by Market Share; 2021 (Percentage, %)
  • IBM Corporation Revenue by Segments; 2021 (Percentage, %)
  • Microsoft Corp. Revenue by Segment; 2022 (Percentage, %)
  • Oracle Corporation Revenues by Businesses; 2022 (Percentage, %)
  • Salesforce Inc. Revenues From Sources; 2022 (Percentage, %)
  • SAP Revenue by Segments; 2021 (Percentage, %)
  • Siemens AG Revenue by Segments; 2021 (Percentage, %)
  • ABB Group Revenues by Business Areas; 2021 (Percentage, %)
  • Honeywell International Inc. Net Sales by Segment; 2021 (Percentage, %)
  • Dassault Systèmes SE Total Revenue by Region; 2021 (Percentage, %)
  • Amazon.Com, Inc. Net Sales by Segment; 2021 (Percentage, %)
  • Cadence Design Systems, Inc. Revenue by Region; 2021 (Percentage, %)
  • Synopsys Inc. Total Revenue by Segments; 2021 (Percentage, %)
List of Tables
  • Global Industrial Software Market: Services & Products Offering

Companies Mentioned

  • IBM Corporation
  • Microsoft Corporation
  • Oracle Corporation
  • Salesforce Inc.
  • SAP SE 
  • Siemens AG (Siemens Digital Industries Software) 
  • ABB Group
  • Honeywell International Inc. 
  • Dassault Systèmes SE 
  • Amazon.Com, Inc. (Amazon Web Services, Inc.)
  • Cadence Design Systems, Inc. 
  • Synopsys Inc.