North America and Latin America OEE Software Market Size By Type (On-Premise and Cloud-based), By Application (Large Enterprises, Medium-Sized Enterprise, and Small Enterprises), By Geographic Scope And Forecast

North America and Latin America OEE Software Market Size And Forecast

According to Market Research, North America and Latin America OEE Software Market was valued at USD 240.86 Million in 2019 and is projected to reach USD 388.04 Million by 2027. The North America Market is growing at a CAGR of 6.79% from 2020 to 2027 and The Latin America Market is growing at a CAGR of 5.22% from 2020 to 2027.

With the rise in the adoption of Industry 4.0 in manufacturing environments, the need for optimal production has become more pivotal than before. In such an era, OEE has emerged as the key performance index (KPI) in the manufacturing industry. The North America and Latin America report provide a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

What Is OEE Software?

OEE which expands as Overall Equipment Effectiveness is a measure of how effectively a manufacturing operation is being utilized. Manufacturing organizations show their interest in various performance improvement initiatives Six-Sigma, TPM, TQM, and lean manufacturing. The key performance indicators (KPIs) used by the manufacturing sectors help them track progress towards their production goals. OEE software helps such organizations in simplifying such processes. OEE software is a real-time data collection software that tracks these KPIs both in real-time and for historical analysis.

OEE solutions are designed to understand to what extent machines are operating against expectations by calculating OEE in real-time. The software monitors the production line, provides insights, and therefore helps in optimizing the manufacturing process. The software is capable of spotting potential profit killers and calculates the productive manufacturing hours. It becomes difficult for the manufacturing industries to calculate OEE by collecting data manually along with the highest degree of accuracy. The OEE software is capable of calculating OEE in real-time.

North America and Latin America OEE Software Market Overview

As the manufacturing enterprises are becoming competitive, the need to identify various factors contributing to the overall manufacturing productivity is rising constantly. The rapidly changing market along with the diversified demands of customers has forced the manufacturing enterprises to streamline their workflows and reduce losses to meet the needs of the competitive market. Implementing OEE software is an essential part of the overall continuous improvement process for any manufacturing company. OEE software helps in improving any production line by discovering ways each area can be improved. The manufacturing industries are finding this software as a tool to minimize complex production problems into a simple, intuitive presentation of information.

As every industry aspires to have a smooth and reliable workflow operation of equipment and systems used, the role of preventive maintenance becomes more highlighted. The predictive maintenance procedure is a proactive approach that eliminates any chances of equipment failure during in-process activities. When equipment runs below its maximum potential speed, it causes a manufacturing plant to lose out on production time. Operational failure equipment is capable of affecting the overall process including the value chain and therefore, it can lead to heavy downtime.

Predictive maintenance ensures minimum downtime by eliminating the chances of unplanned stoppages. OEE solution allows the operator to detect the equipment when it is underperforming to its expected potential. For any manufacturing industry, the maintenance department is important to availability. The industry views the machinery and equipment in the context of the lifecycle and the OEE software can predict failures before they occur to increase availability.

With the emergence of industry 4.0, manufacturing industries are witnessing enhanced productivity, flexibility, and efficiency in industrial processes at astonishingly reduced operational costs. Moreover, the industrial revolution is rapidly shifting the economic dynamics, fuelling industrial growth, and changing the overall competitiveness of the companies. With the rise in the adoption of Industry 4.0 in manufacturing environments, the need for optimal production has become more pivotal than before. In such an era, OEE has emerged as the key performance index (KPI) in the manufacturing industry.

Although the OEE software is considered one of the useful tools in the manufacturing sector, however, not all enterprises have implemented the tool. Several factors limit the adoption of OEE software among enterprises. The reluctance among various manufacturing enterprises acts as the biggest limitation of the market that can potentially affect its growth.

North America and Latin America OEE Software MarketSegmentation Analysis

The North America and Latin America OEE Software Market is segmented on the basis of Type, Application, and Geography.

North America and Latin America OEE Software Market by Type

• On-Premise
• Cloud-based

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On the basis of Type, North America and Latin America OEE Software Market have been segmented into On-Premise and Cloud-based. The OEE software empowers operators with real-time visibility into equipment performance employed in the manufacturing facilities. By adopting cloud-based OEE software, operators obtain a real-time OEE visibility at the equipment, line, or facility level and are capable of quickly diagnosing issues and delivering potential solutions. By employing cloud-based deployment of OEE software, these important KPIs can be easily accessed anywhere, anytime from any device.

North America and Latin America OEE Software Market by Application

• Large Enterprises
• Medium-Sized Enterprise
• Small Enterprises

Based on Application, the market is bifurcated into Large Enterprises, Medium-Sized Enterprise, and Small Enterprises. Large Enterprises accounted for the largest market share in 2019. There is observed to be a larger number of large enterprises that have adopted the OEE software for accurately tracking, monitoring, and analyzing OEE (Overall Equipment Effectiveness) by leveraging IIOT-enabled devices. The OEE software goes beyond automating the measurement of OEE and offers large enterprises with tools for understanding and addressing the underlying manufacturing losses such as downtime, speed loss, and rejects.

North America and Latin America OEE Software Market by Geography

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On the basis of regional analysis, the United States dominated North America and Latin America OEE Software Market in 2019. Due to its highly diversified industrial market, the United States is dominating the North American region’s economy. The food and beverage industry in North America has been witnessing healthy growth over the past several decades and is expected to continue. The food and beverage manufacturing companies in the United States and Canada are leveraging the benefits of OEE software to keep them ahead in the market, to detect the key areas of improvement by gaining real-time production performance insights.

North America and Latin America OEE Software Market Competitive Landscape

The “North America and Latin America OEE Software Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as Lighthouse Systems, Vorne Industries, OEEsystem, Eschbach, UpKeep Technologies, Prodsmart, Rockwell Automation, Scout Systems, Sismaq, and Schneider Electric.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

North America and Latin America OEE Software Market Share Insights

Key Developments by Major Key Players in the market are as given below.

North America and Latin America OEE Software Market Report Scope

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• 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 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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