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Jan 28, 2021 (The Expresswire) —
The global manufacturing operations management software market size is projected to reach USD 22.64 billion by 2027, exhibiting a CAGR of 11.4% during the forecast period. Rising popularity of smart factory and industry 4.0 will propel the growth trajectory of the market, states Fortune Business Insights™ in its recent report, titled “Manufacturing operations management software Market” Size, Share and Industry Analysis, By Component (Services, Software), By Function (Labor Management, Planning and Scheduling, Process and Production Intelligence, Quality Process Management, Others), By Industry (Automotive, Chemicals, Medical Equipment and Pharmaceuticals, Food and Beverages, Aerospace and Defense, Others), and Regional Forecast, 2020-2027”. A smart factory can be understood as a regular factory, but operating in a web of highly connected and digitized environment. In such a factory, the workings of machinery and equipment are automated to streamline processes and optimize production. These interconnections are facilitated by the Internet of Things (IoT) technology, which is also a manifestation of the concept of Industry 4.0. Manufacturing operations management (MOM) software helps manufacturers to properly utilize these advanced technologies to improve their manufacturing processes, which in turn allows them to produce better quality products. Thus, one of the top manufacturing operations management software market trends is the increasing adoption of smart factory by manufacturers across the industrial spectrum.
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The MOM software market report states that the market value stood at USD 9.75 billion in 2020. The other highlights of the report include:
- Valuable insights into the factors driving and restricting the growth of the market;
- Comprehensive analysis of the individual market segments;
- Detailed study of the competitive dynamics influencing the market; and
- Exhaustive research into the regional developments shaping the growth path of the market.
Concerns Surrounding Data Vulnerability to Impede Market Growth
Cloud-based operations management solutions offer a range of benefits such as easy implementation, cost-effectiveness, convenient accessibility, and data integration. However, growing interaction between humans and machines has led to generation of data in gargantuan amounts. While MOM software tools enable efficient data collection and analysis, they are equally vulnerable to hacking and privacy infringement. For example, a buyer does not have complete control of the security and privacy of his company’s data as some control lies with the vendor. This means that manufacturers wanting to adopt such technologies place a high amount of trust in the vendor, which can make them hesitant in purchasing such solutions. This may stem the uptake of MOM tools and hinder the manufacturing operations management market growth in the coming years.
Manufacturing Operations Management Software Market Landscape and Market Scenario Includes:
- Current market size estimate
- Revenues by players Top Companies
- Market size by product categories
- Market size by regions/country
Heavy Investment in Software Technology to Drive the Market in North America
In 2020, North America generated revenue of USD 3.66 billion and is anticipated to lead the manufacturing operations management software market share during the forecast period. This is mainly attributable to the heavy investments made the governments in the region as well as the private sector in developing and adopting advanced tools for improving efficiency of the manufacturing sector. In Europe, on the other hand, the market will be primarily led by the robust manufacturing sectors in Germany and Italy. Asia-Pacific is expected to showcase fastest growth among regions owing to the speedy development of the manufacturing sector in China and India.
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1. By Component
2. By Function
- Labor Management
- Planning and Scheduling
- Process and Production Intelligence
- Quality Process Management
- Others (inventory management, dispatching, etc.)
3. By Industry
- Medical Equipmentand Pharmaceuticals
- Food and Beverages
- Aerospace and Defense
4. By Region
- North America (U.S. and Canada)
- Europe (U.K., Germany, France, Italy, and Rest of Europe)
- Asia-Pacific (Japan, China, India, Southeast Asia, and Rest of Asia-Pacific)
- Middle East and Africa (South Africa, GCC, and Rest of Middle East and Africa)
- Latin America (Brazil, Mexico, Argentina, and Rest of Latin America)
Highlights of the Manufacturing Operations Management Software Market Report
- Illustration of the potential suppliers and buyers in the market.
- Competitive landscape including collaborations, investments, new product launches, contracts, agreements, mergers and acquisitions, and joint ventures.
- In-depth data about the financial competency of the market.
- Information regarding the significant opportunities, challenges, trends, growth drivers, and barriers.
Increasing Strategic Collaborations to Energize Market Competition
The manufacturing operations management market forecast predicts a high-energy period for the market as top competitors look to entrench their position in this market. Their prime strategy for achieving this is by forging alliances and entering into strategic partnerships to develop novel products and strengthen their portfolio.
Queries Addressed In Market Report:
- What opportunities are present for the Manufacturing Operations Management Software market players to enhance their business footprint?
- What manufacturing techniques are being implemented in the development of advanced Construction Equipment?
- Which segment is witnessing huge traction from the consumers?
- For what purposes, is the market being utilized?
- How many units are estimated to be sold in 2020?
- January 2020: The Portuguese manufacturing software major Critical Manufacturing announced its collaboration with the Indian IT giant HCL Technologies to deliver pre- and post-sales consulting and implementation support. Under the partnership, the companies will utilize the Manufacturing Execution Systems (MES) developed by Critical Manufacturing to cater to medical device, hi-tech, and semiconductor manufacturing industries.
- November 2020: ABB Ltd, the Swiss-Swedish MNC, launched a new version of its ABB Ability™Manufacturing Operations Managementsoftware featuring superior digital capabilities. The enhanced platform provides improved flexibility and security of operations to managers and supervisors in a wide range of industries.
List of Companies Covered in the Manufacturing Operations Management Market Report:
- Aegis Industrial Software Corporation
- Siemens Ltd.
- Rockwell Automation Inc.
- Honeywell International Inc.
- Dassault Systems
- SAP SE
- ABB Ltd
- EMERSON ELECTRIC CO
- Critical Manufacturing S.A
Key Features of Market Research Report:
- This report provides detail analysis of the Manufacturing Operations Management Software market and have a comprehensive understanding of the market and its commercial landscape.
- Learn about the various market strategies that are being adopted by leading companies.
- It provides a five-year forecast assessed based on how the market is predicted to grow.
- It provides insightful analysis of changing competition dynamics and keeps you ahead of competitors.
- To understand the future scope and outlooks for the Manufacturing Operations Management Software market.
- Manufacturing Operations Management Software Market Forecast by regions, type and application, with sales and revenue, from 2020 to 2026.
- Market Share, distributors, major suppliers, changing price patterns and the supply chain of raw materials is highlighted in the report.
- Manufacturing Operations Management Software Market Size (sales, revenue) forecast by regions and countries from 2020 to 2023 of industry.
- The global market Growth is anticipated to rise at a considerable rate during the forecast period, between 2020 and 2023. In 2020, the market was growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
- Manufacturing Operations Management Software Market Trend for Development and marketing channels are analysed. Finally, the feasibility of new investment projects is assessed and overall research conclusions offered.
- Market Report also mentions market share accrued by each product in the market, along with the production growth.
Lastly, this report covers the market landscape and its growth prospects over the coming years, the Report also brief deals with the product life cycle, comparing it to the relevant products from across industries that had already been commercialized details the potential for various applications, discussing about recent product innovations and gives an overview on potential regional market shares.
Table of Content
5.Global Manufacturing Operations Management Software Market Analysis, Insights and Forecast, 2015-2027
5.1.Key Findings / Summary
5.2.Market Size Estimates and Forecasts
5.2.2.By Function (Value)
18.104.22.168.Planning and Scheduling
22.214.171.124.Process and Production Intelligence
126.96.36.199.Quality Process Management
5.2.3.By Industry (Value)
188.8.131.52.Medical Equipment and Pharmaceuticals
184.108.40.206.Food and Beverages
220.127.116.11.Aerospace and Defense
5.2.4.By Geography (Value)
18.104.22.168.Middle East and Africa
6.North America Manufacturing Operations Management Software Market Analysis, Insights and Forecast, 2015-2027
6.1.Key Findings / Summary
6.2.Market Size Estimates and Forecasts
6.2.2.By Function (Value)
22.214.171.124.Planning and Scheduling
126.96.36.199.Process and Production Intelligence
188.8.131.52.Quality Process Management
6.2.3.By Industry (Value)
184.108.40.206.Medical Equipment and Pharmaceuticals
220.127.116.11.Food and Beverages
18.104.22.168.Aerospace and Defense
6.2.4.By Country (Value)
7.Europe Manufacturing Operations Management Software Market Analysis, Insights and Forecast, 2015-2027
7.1.Key Findings / Summary
7.2.Market Size Estimates and Forecasts
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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To view the original version on The Express Wire visit Manufacturing Operations Management Software Market Development, Key Opportunity, Application and Forecast to 2026 | Fortune Business Insights
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