Global Manufacturing Operations Management Software Market Insights Forecasts to 2032
- The Global Manufacturing Operations Management Software Market Size was valued at USD 16.4 Billion in 2022.
- The Market is Growing at a CAGR of 12.3% from 2022 to 2032
- The Worldwide Manufacturing Operations Management Software Market is expected to reach USD 52.7 Billion by 2032
- Asia Pacific is expected to Grow the fastest during the Forecast period
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The Global Manufacturing Operations Management Software Market Size is expected to reach USD 52.7 Billion by 2032, at a CAGR of 12.3% during the Forecast period 2022 to 2032.
Manufacturing operations management (MOM) software is a collection of systems used to manage end-to-end manufacturing operations processes with the primary goal of optimizing manufacturing operations efficiency. Thus, important factors such as the increased use of robotic process automation (RPA) fuel the MOM software market prediction. The MOM software ensures that the workforce and associated processes execute in accordance with a set of policies and norms that are required to maintain production value. The software consists of a set of procedures that continuously improve inventory, production, maintenance, quality control, and human resource requirements to fulfill product innovation, cost savings, regulatory compliance, sustainability, and product quality. During the projection period, the worldwide manufacturing operations management software market will be driven by the emergence of digitalization in manufacturing production sectors to optimize production performance and enhance flexibility, efficiency, and time-to-market.
Global Manufacturing Operations Management Software Market Report Coverage
|Market Size in 2022:||USD 16.4 Billion|
|Forecast Period 2022-2032 CAGR:||12.3%|
|2032 Value Projection:||USD 52.7 Billion|
|Historical Data for:||2019-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||110|
|Segments covered:||By Component, By Deployment, By Enterprise, By End-use, By Region|
|Companies Covered:||ABB Ltd., AVEVA Group plc, Dassault Systèmes, Epicor Software Corporation, GE DIGITAL, Honeywell International Inc, Rockwell Automation, Inc., SAP SE, Schneider Electric, Siemens AG and Others Key Vendors.|
|Pitfalls & Challenges:||COVID-19 Empact,Challenges, Future, Growth, & Analysis|
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There is a rising need to improve operational efficiency and product quality which is expected to drive the market growth. Chemicals, medical equipment and pharmaceuticals, food and drinks, and other industries are seeing an increase in demand for high-quality products and solutions. This is projected to put significant strain on industrial facilities, reducing production efficiency. Manufacturers and businesses are working on maintaining high-quality standards, adequate flexibility, productivity, and sustainability at this rapid scale of expansion. Furthermore, given the current factors, industries must act in accordance with regulatory changes. Proper management of industrial operations will significantly boost the benefits to enterprises. The increasing use of manufacturing operation management tools is increasing production line efficiency in manufacturing businesses. Implementing manufacturing operations management software has fostered transparency in every unit, from engineers to the shop floor and management. As a result, appropriate information about the product's quality is given. This is projected to increase product visibility and eliminate manual processes, which will increase demand for manufacturing operations management (MOM) software market in the near future.
However, the confidentiality of data poses one of the primary challenges associated with digital transformation. To perform the functions, the manufacturing facility management software shares an array of data and archives it in the public cloud and on-premises. Data can be associated with products, layouts, patents, client data, and a variety of other factors. In addition, manufacturers have seen an increase in the frequency of data breaching attacks in recent years. This is projected to negatively impact market growth for an extended amount of timeframe. Furthermore, high upfront expenses can also limit market expansion. Nevertheless, the market is projected to overcome the cost barrier with supportive government programs aimed at smart factories.
By Component Insights
The software segment dominates the market with the largest revenue share over the forecast period.
On the basis of components, the global manufacturing operations management software market is segmented into software and services. Among these, the software segment is dominating the market with the largest revenue share over the forecast period. The program eliminates the need to switch applications for data collection due to the simplified decision-making process by enabling a single view of the entire process. By handling all information on a single platform with all relevant applications, the software is more dependable and delivers higher security, faster decision-making, lower operating costs, and enhanced efficiency. Over the projection period, all of these factors will increase demand for the category.
By Deployment Insights
The cloud segment is witnessing significant CAGR growth over the forecast period.
On the basis of deployment, the global manufacturing operations management software market is segmented into on-premise and cloud. Among these, the cloud segment is witnessing significant CAGR growth over the forecast period. Cloud-based manufacturing operations management software gives enterprises greater flexibility because it does not require any installs on users' premises and these high-end solutions are available on a subscription basis. Because these licenses can be extended based on the user's needs, it provides improved scalability, cost-effectiveness, and convenience of access to clients. These advantages provided by cloud deployment would fuel segment expansion during the projection period.
By Enterprise Size Insights
The large enterprises segment is expected to hold the rapid revenue growth of the global manufacturing operations management software market during the forecast period.
Based on the enterprise size, the global manufacturing operations management software market is classified into large enterprises, SMEs. Among these, the large enterprises segment is expected to grow at a rapid pace during the forecast period. Manufacturing operations management (MOM) software provides supply chain management, quality control, production management, unified operations management, and other services that help large enterprises increase efficiency and ease of operations. It also provides end-to-end tracking and monitoring of real-time data, analysis, and implementation of gathered results in large enterprises for timely actions and potential decision-making. As a result, the growing importance of manufacturing operations management (MOM) software in major businesses is likely to boost large enterprise's growth.
By Application Insights
The quality management segment is projected to grow at the highest CAGR in the market during the forecast period.
On the basis of application, the global manufacturing operations management software market is segmented into advanced planning & scheduling, manufacturing execution systems (MES), labor management, inventory management, quality management, laboratory management, and others. Among these, the quality management segment grows at highest CAGR growth over the forecast period. Quality management solutions provide higher-quality products while reducing wastage and increasing customer satisfaction. Manufacturing operations management software helps businesses with enhanced planning, monitoring, and control processes and quality. As a result, it ensures constant enhancement, provides operational excellence, and boosts organizational efficiency. During the forecast period, the following quality management component is projected to lead the manufacturing operations management (MOM) software market.
North America dominates the market with the largest market share of more than 33.3% over the forecast period.
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North America is dominating the largest market share over the forecast period. The United States has the highest market share, due to the significant use of technologies such as Industrial IoT and AI, among others. The majority of manufacturing industries in the United States are forming digital alliances to improve manufacturing processes through the implementation of services such as supply chain management, product lifecycle management, manufacturing operations management software, and enterprise resource planning, among others. Because of automation and developments in manufacturing operations throughout the area, North America has a great potential in programming and software solutions. As a result, it is positively driving regional market growth.
Asia Pacific market is expected to grow the fastest during the forecast period. The rapid growth of the region's industrial sector due to lower operating costs, availability of resources, and rising government support for establishing smart manufacturing facilities and the industry 4.0 initiative is increasing demand for manufacturing operations management software.
List of Key Market Players
- ABB Ltd.
- AVEVA Group plc
- Dassault Systèmes
- Epicor Software Corporation
- GE DIGITAL
- Honeywell International Inc
- Rockwell Automation, Inc.
- SAP SE
- Schneider Electric
- Siemens AG
Key Market Developments
- In October 2022, Siemens partnered with Hilscher to provide customers with a variety of solutions for communication and data exchange between machine and plant in order to increase productivity and reduce time to market using IOT-enabled digitalization and technical developments.
- In March 2022, Cyient, a global engineering, manufacturing, and digital technology solutions company, has signed a new partnership agreement with iBASEt. The collaboration's goal is to create purpose-built software products that will help in the transition to digital operations management solutions.
- In March 2022, SymphonyAI Industrial introduced AI embedded MOM 360 manufacturing operations management with MES capabilities, enterprise-level governance, and AI-based process optimization to assist companies in achieving Industry 4.0 smart manufacturing goals of data-driven process optimization at the enterprise scale.
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the global manufacturing operations management software market based on the below-mentioned segments:
Manufacturing Operations Management Software Market, Component Analysis
Manufacturing Operations Management Software Market, Type Analysis
Manufacturing Operations Management Software Market, Enterprise Size Analysis
- Large Enterprises
Manufacturing Operations Management Software Market, Application Analysis
- Advanced Planning & Scheduling
- Manufacturing Execution Systems (MES)
- Labor Management
- Inventory Management
- Quality Management
- Laboratory Management
Manufacturing Operations Management Software Market, End-use Analysis
- Aerospace & Defense
- Pharmaceuticals & Medical Equipment
- Food & Beverages
- Consumer Goods
Manufacturing Operations Management Software Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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