Global Manufacturing Operation Management Software Market Size By Vertical, By Functionality, By Component, By Geographic Scope And Forecast

Manufacturing Operation Management Software Market Size And Forecast

Manufacturing Operation Management Software Market size is growing at a moderate pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2024 to 2031.

Global Manufacturing Operation Management Software Market Drivers

The market drivers for the Manufacturing Operation Management Software Market can be influenced by various factors. These may include

• Industry 4.0 and Digital Transformation The need for MOM software is driven by the implementation of Industry 4.0 principles, which include automation, networking, data analytics, and integration of digital technologies. Through digital transformation programmes, manufacturers aim to improve efficiency, streamline manufacturing processes, and improve decision-making.
• Growing Complexity and Globalisation of Supply Chains Managing global supply chains, which involve numerous locations, suppliers, and partners, is becoming more and more difficult for manufacturers. Operational efficiency, production synchronisation, and uniformity across dispersed manufacturing plants are all enhanced by MOM software.
• Need for Real-Time Visibility and Control In order to react swiftly to shifting consumer needs and operational problems, manufacturers need real-time visibility into production processes, equipment performance, and inventory levels. In order to maximise production performance, MOM software offers real-time monitoring, analytics, and control capabilities.
• Emphasis on Cost Reduction and Operational Efficiency Through ongoing process optimisation, manufacturers aim to minimise waste, cut costs associated with manufacturing, and increase operational efficiency. Predictive maintenance, quality control, energy efficiency, and resource utilisation are made possible by MOM software, which also helps to reduce costs and increase production.
• Regulatory Compliance and Quality Assurance Manufacturers must adhere to industry rules, customer specifications, and quality standards in order to guarantee product safety, traceability, and compliance. To accomplish regulatory compliance and guarantee product quality, MOM software streamlines the paperwork, audit trails, and quality management procedures.
• Growth of IoT Integration and Smart Manufacturing Real-time data gathering, analysis, and automation are made possible in manufacturing processes by the integration of Internet of Things (IoT) devices, sensors, and connected machinery. Data-driven decision-making, asset optimisation, and predictive maintenance are made possible by the integration of MOM software with IoT platforms.
• Demand for Cloud-Based and Software-as-a-Service (SaaS) Solutions In order to take advantage of scalability, flexibility, and cost-effectiveness, manufacturers are adopting cloud-based and SaaS solutions at a growing rate. The growth of cloud-based MOM software by small and medium-sized manufacturers is fueled by its ability to provide remote access, collaboration, and seamless upgrades.
• Increasing Adoption of AI and Advanced Analytics To allow predictive analytics, optimise manufacturing processes, and extract insights from massive datasets, manufacturers use AI, AI, and machine learning. Demand forecasting, production scheduling, and predictive maintenance are all integrated into MOM software.
• Emphasis on Green Manufacturing and Sustainability Energy efficiency, waste reduction, and environmental conservation are among the sustainability projects that manufacturers give top priority to. By maximising resource utilisation, reducing carbon footprint, and encouraging environmentally friendly practices in manufacturing operations, MOM software helps achieve sustainability goals.
• Demand for Flexible and Agile Manufacturing Solutions In order to customise products, shorten time-to-market, and respond to shifting market demands, manufacturers are looking for flexible and agile manufacturing solutions. Agile manufacturing techniques, such as lean production, just-in-time inventory, and flexible production scheduling, are made possible by MOM software.

Global Manufacturing Operation Management Software Market Restraints

Several factors can act as restraints or challenges for the Manufacturing Operation Management Software Market. These may include

• High Initial Investment Costs Purchasing software licences, hardware, and implementation services can be a significant upfront cost when using MOM software. It may be too expensive for small and medium-sized manufacturers with little capital to invest in MOM software up front.
• Complexity of Implementation and Integration It can be difficult and time-consuming to integrate MOM software with current enterprise systems, such as manufacturing execution systems (MES), customer relationship management (CRM) platforms, and enterprise resource planning (ERP) software. During deployment, manufacturers could run into issues with data migration, system customisation, and process alignment.
• Organisational Culture and Resistance to Change The implementation of MOM software may be impeded by deeply ingrained organisational cultures and resistance to change present in manufacturing organisations. New procedures, performance measures, and technology may not be well-accepted by staff members, which could cause resistance and implementation delays.
• Absence of Qualified Personnel and Training Manufacturers could not have the required qualified personnel with knowledge of how to install, run, and maintain MOM software. Workforce development and education expenditures are necessary for teaching staff members how to use MOM software efficiently and streamlining processes to optimise its advantages.
• Restricted Interoperability and Vendor Lock-In Data interchange and interoperability may be hampered by proprietary data formats and incompatibilities between MOM software solutions from various manufacturers. Vendor lock-in problems could prevent manufacturers from upgrading or switching MOM software in the future.
• Uncertain Return on Investment (ROI) Given the uncertainty around the predicted return on investment (ROI), manufacturers may be reluctant to invest in MOM software. It might be difficult, especially in the near run, to demonstrate observable ROI indicators like cost reductions, productivity gains, and quality improvements.
• Dependencies on Legacy Systems and Technical Debt Upgrading to Modern MOM Software May Be Difficult for Manufacturers with Outdated Infrastructure and Legacy Systems. Technical debt can obstruct the adoption of new technologies and digital transformation initiatives. Examples of technical debt include old software versions, customisations, and technical limits.
• Competition from Alternative Solutions Rather than investing in commercial MOM software, manufacturers may choose to use alternative solutions including open-source platforms, custom-built software applications, or outsourcing manufacturing operations. Market expansion and adoption rates may be constrained by competition from substitute products and service providers.

Global Manufacturing Operation Management Software Market Segmentation Analysis

The Global Manufacturing Operation Management Software Market is segmented based on Vertical, Functionality, Component, and Geography.

Manufacturing Operation Management Software Market, By Vertical

• Aerospace & Defense• Automotive• Chemical• Healthcare• Others

Based on Vertical, Manufacturing Operation Management Software Market is bifurcated into Aerospace & Defense, Automotive, Chemical, Healthcare, and Others. The automotive segment dominated the global market in 2019 owing to a huge number of production and service houses in their domain and is expected to continue the trend in the forecast period. Healthcare segment is also growing at a rapid pace.

Manufacturing Operation Management Software Market, By Functionality

• Process and Production Intelligence• Manufacturing Execution Systems (MES)• Labor Management• Inventory Management• Others

Based on Functionality, The Market is bifurcated into Process and Production Intelligence, Manufacturing Execution Systems (MES), Labor Management, Inventory Management, and Others. Manufacturing Execution System dominated the market in 2019, followed by Process and Production Intelligence, and is expected to continue the same in the forecast period.

Manufacturing Operation Management Software Market, By Component

• Software• Services

Based on Component, The Market is bifurcated into Software and Service. Software segment dominated the global market in 2019 however, The Service segment has shown significant growth in previous years owing to the rise in the number of customers’ electronic products.

Manufacturing Operation Management Software Market, By Geography

• North America• Europe• Asia Pacific• Rest of the World

On the basis of regional analysis, The Global Manufacturing Operation Management Software Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. In 2019, North America led the market followed by Asia Pacific, Europe, and the Rest of the world respectively. North America’s dominance can be understood with the advancement the region has in the market. Asia Pacific is expected to lead the market in the forecast period owing to mass production of IT solutions, services in countries like India, China, Japan, and in Rest of the Asia region.

Key Players

The “Global Manufacturing Operation Management Software Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as Plex Systems, General Electric Company, Dassault Systems SE, Aegis Industrial Software Corporation, ABB Ltd., Aspen Technology, Inc., Critical Manufacturing, Emerson Electric Co., Honeywell International, Inc., and Siemens AG. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post sales analyst support

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