Global Manufacturing Operations Management Software Market is valued at approximately USD 12.1 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 11.4% over the forecast period 2022-2029. Manufacturing operations management (MOM) software controls a number of systems that are used to oversee all aspects of the manufacturing process with the main goal of increasing manufacturing productivity. As a result, the market for MOM software is expected to grow due to significant factors such as an increase in the use of robotic process automation (RPA). The MOM software makes sure that the workforce and associated processes follow a set of policies and norms that are required to maintain production value. In order to satisfy the strategic goals of product innovation, cost reduction, regulatory compliance, sustainability, and product quality, the software involves a number of processes that are continuously improving the inventory, production, maintenance, quality control, and human resource requirements. The expansion of the worldwide manufacturing operations management software market is being driven by the emergence of digitalization in manufacturing production sectors to optimize production performance and increase flexibility, efficiency, and time-to-market.
In addition, Software for manufacturing operations management (MOM) is becoming more widely used. The need for real-time visibility in manufacturing operations is growing as smart factories are implemented as part of industry 4.0. The program allows for improved product quality, financial success, and efficient business operations in addition to controlling the manufacturing process. It is projected that these would have a substantial impact on the market and the need for manufacturing operations management software. According to Statista, industry 4.0: the smart factory market is growing at a healthy rate of 9.6% and was approximately valued at USD 185.9 Billion in 2021. Furthermore, the smart factories will be able to control workflow by boosting data availability and data analysis with the implementation of this software. Additionally, by connecting different smart factories and implementing a manufacturing operation management system properly, decisions and actions may be made simultaneously throughout the activities of the factories. However, MOM software supports decision-making in businesses by facilitating operations using data, cutting-edge tools, and human intelligence. Maintaining the confidentiality of this sensitive information is becoming a challenge for enterprises as a result of increased technical and human connections, which also pose hazards in the form of increasing data theft, cyber-attack, and privacy issues that may limit the market’s growth over the forecast period of 2022-2029.
The key regions considered for the Global Manufacturing Operations Management Software Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the widespread use of technologies such as Al and industrial lot, among others. By deploying services similar to supply chain management, product lifecycle management, manufacturing operations management software, and enterprise resource planning, among others, the majority of manufacturing industries are forming digital partnerships to improve production processes. Whereas, Asia Pacific is also expected to grow at the highest growth rate over the forecasting period. Factors such as rising demand scale are burgeoning the market growth in the forecasting years.
Major market players included in this report are:
AVEVA Group plc
Dassault Systèmes SE
Epicor Software Corporation
Emerson Electric Co.
Honeywell International Inc
Rockwell Automation, Inc.
Schneider Electric SE
Recent Developments in the Market:
On December 13 2022, Rockwell Automation, Inc., a company dedicated to industrial automation and digital transformation and Fortinet, a leader in broad, automated, and integrated cyber security solutions, joined the Partner Network Program as a Gold Technology Partner, in order to offer robust cyber security protection to international customers through the fusion of cutting-edge networking and security capabilities.
On December 14 2022, ABB Ltd. collaborated with Boliden, a Swedish mining and smelting firm to establish a strategic collaboration for deploying high-efficiency electric motors and electromagnetic stirring (EMS) equipment made of copper with a reduced carbon footprint. Accelerating the shift to a more circular economy while lowering greenhouse gas (GHG) emissions are the objectives.
On February 02, 2023, Emerson Electric Co. incorporated its extensive power knowledge and renewable energy capabilities into the Ovation Green portfolio to assist power production firms to fulfil the needs of customers navigating the transition to green energy generation and storage.
Global Manufacturing Operations Management Software Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Component, Function, Industry, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Planning & Scheduling
Quality Process Management
Medical Equipment & Pharmaceuticals
Food & Beverages
Aerospace & Defense
Rest of the World