LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global industrial automation device manager software market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio market research analysts, the global industrial automation device manager software market will grow at a CAGR of over 6% during the forecast period. Increasing demand for real-time data analysis in automation activities is a major factor driving the market’s growth.
Real-time delivery and analysis of data is the next big thing from intelligent enterprises, as this can sense and respond immediately to opportunities and threats. Real-time data analysis has become the catalyst behind the increased adoption of device manager software in the end-user industries.
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In this report, Technavio highlights the integration of information and operational technologies as one of the key emerging trends in the global industrial automation device manager software market:
Integration of information and operational technologies
Information technology (IT) is responsible for organizational-level information involving backhand operations while operations technology (OT) is responsible for monitoring and maintenance at the plant level. At present, factors such as the ever-increasing complexity of managing distribution networks are fostering industrial facilities to look for enhanced methods to optimize their systems such as incorporating real-time weather information into distributed generation management and automated, rule-based control of assets.
According to a senior analyst at Technavio for automation research, “The convergence of IT and OT to form a single network provides decision-makers access to real-time data connectivity and information sharing, thereby enabling them to link all their resources such as suppliers, employees, plant assets, processes, and customers, which consequently increases their efficiency and responsiveness.”
With the convergence of these two technologies, organizations can monitor plant performance in real time and ensure that this information access is available to all, right from senior management to shop floor employees. This convergence helps to keep every employee in the organization on the same page. Production schedule can be better aligned with customer demand or supplier performance.
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Global industrial automation device manager software market segmentation
This market research report segments the global industrial automation device manager software market by end-user (power industry, oil and gas industry, chemical and petrochemical industry, automotive industry, and others industry) and key regions (the Americas, APAC, and EMEA).
The global industrial automation device manager software market was dominated by the Americas which accounted for the highest market share of over 36% in 2017 closely followed by EMEA and APAC. The market share of the Americas and APAC will witness a small increase over the forecast period while that of EMEA will decline.
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