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Europe Industrial Automation Software Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)

The Europe Industrial Automation Software Market is expected to witness a CAGR of over 7. 88% during the forecast period (2021 – 2026). Industrial automation helps in reducing the machine hours required for the respective operations, which can be made possible only through robust software.

New York, Nov. 04, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report "Europe Industrial Automation Software Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)" – https://www.reportlinker.com/p06179128/?utm_source=GNW
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Key Highlights
– Recent developments in artificial intelligence (AI) and robotics aim to assist, or even completely automate, many clerical and social interaction tasks. Along with industrial robots, the use of service robots is increasing in the fast-developing market of the European region.
– Many of the EU’s research & innovation (R&I) programs have constantly supported the development of solutions and technologies that enable the European manufacturing sector to utilize digital opportunities fully. Many of the projects are financed by the Factories of the Future Public-Private Partnership as they cover areas such as digital automation, process optimization of manufacturing assets, simulation and analytics technologies, and ICT innovation for manufacturing SMEs.?
– The market in Europe experiences high investments in terms of new developments, partnerships, and acquisitions. Further investment by various governments in the region is expected to increase the need for client-based software solutions to meet the rising demands from SMEs as well as from larger organizations. ?
– The COVID-19 pandemic brought significant adoption of Industry 4.0 that utilizes several smart manufacturing technologies. Digital workflows and automation are no longer goals; they are becoming necessary requirements. IoT devices have offered manufacturers a path toward preserving revenue streams during this pandemic. ?Rising demand for smart manufacturing products and services in response to the public health crisis is expected to drive further growth.

Key Market Trends

Launch of stringent energy conservation standards and the drive for local processing is driving the market in Europe

– The growing regulations on energy consumption across the country, with the launch of strict energy conservation standards and the drive for local processing in Europe, are driving the growth of Industrial Automation Software in the region. Also, the increasingly dynamic needs of the industry, demanding complex operations and processes, and the need to reduce machine hours required for a specific operation, are driving the demand for industrial automation software in Europe.?
– According to BP (British oil and gas company), in 2020, the renewable energy consumption in the European Union amounted to 6.97 exajoules. Germany amounted to the largest share of consumption with around 2.2 exajoules, followed by the United Kingdom and Spain consumption of 1.2 exajoules and 0.77 exajoules, respectively.?
– The European Union proposed to revise its goal under the Energy Efficiency Directive, from a target of 20% by 2020 to 30% by 2030. This includes the incentives to small- and medium-sized enterprises (SMEs) to monitor the efficiency levels in new energy generation capacities and undergo energy audits. These […]

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