Allied Advisers Sector Update on Automation Software - 2H 2023
Allied Advisers is publishing our sector update on Automation Software which provides an overview of this important segment, recent exciting trends, the transactional market and active acquirers and investors in the ecosystem.
Automation technologies are becoming increasingly pervasive across industries driven by the clear opportunity to achieve great improvements in productivity, process efficiencies and reduce human errors. Tailwinds to this sector have been strengthened by rising costs of labor and operations in an inflationary environment, and innovations in enabling technologies such as AI/Machine Learning, IIoT and Cloud.
The increasing adoption of automation will necessitate further investment into developing technology skills. It is expected that many manually repetitive and low-skill jobs will be replaced by automation technologies, leading to higher unemployment in the economy. On the positive side, automation also opens up the opportunity for workers to be freed up from mundane tasks. Workers who retool and elevate their skill sets for the new world will be able to use their time more effectively and work well with machines to their benefit.