FRANKFURT (Reuters) - Siemens has seen significant growth in demand for software for factory automation in China in a generally weak environment for capital spending on automation equipment in the country, Chief Executive Joe Kaeser said on Tuesday.
“I think what we see, in a way, is two worlds out there in China. Automation capex is really, really light,” Kaeser told analysts on a conference call.
“What we do see though... is significant growth in software, which is a nice development to see because China has traditionally been a bit slow to introduce modern ways of simulation,” he added.
“With our combination of software and automation we believe we can outperform the market on average, but China’s going to be slow and it remains to be seen whether we see a sustainable demand-related pickup.”
Reporting by Georgina Prodhan; Editing by Maria Sheahan