Global automation software market grows 22% a year

London -— With a market value of $1.9 billion, automation software is the most dynamic sector of the global automation industry and will be a crucial product for large control system suppliers during the next decade, according to a recent report by Datamonitor, a market analysis firm. Its “Global Automation Software” report states that the global market for automation software has grown at an average annual rate of 22% over the last five years and will reach $3.6 billion in 2003. It adds the chemicals industry is the largest global end-user of automation software. Growth has been strongest in the Americas, where impact of new products in major U.S. and Canadian markets and rapid market development in South America increased market value by 33% annually. European growth has averaged 21% per year because those markets have been well developed since the mid-1990s and the full impact of recent new product launches—especially in PC-based DCSs—haven’t been fully felt. Datamonitor’s report projects future growth will be fastest in the Americas at 18.4% annually, pushing that segment $1.88 billion in 2003. Meanwhile, Europe will grow 9.8% per year to reach $1.19 billion, while Asia will grow 7.3% annually to $574 million.

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