Dublin, July 06, 2023 (GLOBE NEWSWIRE) -- The "Overall Equipment Effectiveness Software Market by Offering (Software, Services), Deployment Mode (On-Premises, Cloud), Type (SCADA, Cloud ERP, Predictive Maintenance, Data Historian), Industry (Automotive, Healthcare, Power) - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global overall equipment effectiveness software market size is expected to grow from USD 67.5 billion in 2023 to USD 122.4 billion by 2028, at a CAGR of 12.6%.
The key factors driving the overall equipment effectiveness software market growth are the rising initiatives to increase the adoption of industrial automation solutions and the growing need for enhancing efficiency and ensuring optimal use of resources.
Services segment to hold the highest growth rate from 2023-2028.
Services in OEE software encompass a range of additional features and support provided by software providers to enhance the user experience and maximize the benefits of the software for manufacturers.
Software providers offer services such as training, maintenance, installation, software upgradation, and various other services. The demand for services is rising rapidly owing to the need for specialized expertise, customization, training, ongoing support, and optimization services.
The cloud segment holds the largest share of overall equipment effectiveness software during the forecast period.
Cloud technology in overall equipment effectiveness software refers to utilizing cloud computing infrastructure and services to store, process, and manage data related to equipment effectiveness. It involves leveraging remote servers hosted on the internet to securely store data and provide access to OEE software applications and functionalities.
Cloud deployment in OEE software offers manufacturers scalability, cost efficiency, ease of management, accessibility, data integration, and continuous innovation. It also provides organizations with a flexible and agile platform to optimize their equipment effectiveness and drive operational excellence. This, in turn, is expected to increase the adoption of cloud-based OEE software by manufacturers during the forecast period.
Manufacturing Execution System (MES) segment holds the second-largest share of the overall equipment effectiveness software market in 2022.
Manufacturing execution systems (MES) provide comprehensive capabilities for managing and controlling manufacturing operations, including production scheduling, resource allocation, quality management, and real-time data collection. As a result, they are well-positioned to integrate OEE functionality seamlessly within their broader suite of manufacturing execution capabilities.
This integration allows businesses to have a holistic view of their production processes, enabling them to monitor equipment effectiveness, identify bottlenecks, and optimize overall operational efficiency. The established presence of MES systems in manufacturing environments, coupled with their ability to incorporate OEE functionalities, has led to their dominant position in the OEE software market.
The power industry holds the second-largest growth rate of the market during the forecast period.
The power industry relies heavily on complex and critical equipment, such as turbines, generators, and transformers, which require effective monitoring and optimization to ensure efficient and reliable operations. OEE software provides the necessary tools and analytics to track equipment performance, identify potential issues, and optimize overall efficiency.
Besides, the power industry is undergoing significant digital transformation, focusing on smart grids, renewable energy integration, and advanced monitoring systems. OEE software plays a vital role in managing and optimizing these advanced technologies, further driving its adoption in the power industry. These factors combined contribute to the power industry's expected dominance in the OEE software market during the forecast period.
North America dominated the overall equipment effectiveness software market in 2022.
North America held the largest share of the global overall equipment effectiveness software market in 2022. The region is at the forefront of technological advancements and adopting Industry 4.0 principles. Integrating advanced technologies such as the IoT, artificial intelligence, and data analytics in manufacturing processes creates opportunities for improving equipment effectiveness.
OEE software leverages these technologies to collect real-time data, perform advanced analytics, and provide actionable insights for optimizing equipment performance. The growing focus on Industry 4.0 and digital transformation initiatives in North America drives the demand for OEE software as a critical enabler of these technologies.
Companies Mentioned
- ABB
- Aveva
- Eschbach
- Evocon
- GE
- Iconics, Inc.
- Infor
- Machinemetrics
- Oeesystems
- Rockwell
- Siemens
- Sisense Inc.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 263 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $67.5 Billion |
| Forecasted Market Value (USD) by 2028 | $122.4 Billion |
| Compound Annual Growth Rate | 12.6% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
5.1. Introduction
5.2. Market Dynamics
5.2.1. Drivers
5.2.2. Restraints
5.2.3. Opportunities
5.2.4. Challenges
5.3. Value Chain Analysis
5.4. Ecosystem
5.5. Pricing Analysis
5.5.1. Average Selling Price Trend of Key Players, by Solution Type
5.5.2. Average Selling Price Trend
5.6. Trends/Disruptions Impacting Customer's Business
5.7. Technology Analysis
5.8. Porter Five Force Analysis
5.9. Key Stakeholders & Buying Criteria
5.10. Case Study Analysis
5.11. Trade Analysis
5.12. Patent Analysis
5.13. Key Conferences & Events in 2022-2023
5.14. Tariff and Regulatory Landscape
5.14.1. Regulatory Bodies, Government Agencies, and Other Organizations
5.14.2. Regulations and Standards
6 Overall Equipment Effectiveness Software Methods (Qualitative)
6.1. Introduction
6.2. Availability Calculation
6.3. Performance Calculation
6.4. Quality Calculation
6.5. Real-Time Monitoring
6.6. Root Cause Analysis:
6.7. Predictive Analytics
7 Overall Equipment Effectiveness Software Market, by Offering
7.1. Introduction
7.2. Software
7.3. Services
8 Overall Equipment Effectiveness Software Market, by Deployment Mode
8.1. Introduction
8.2. On-Premises
8.3. Cloud
8.4. Hybrid
9 Overall Equipment Effectiveness Software Market, by Type
9.1. Introduction
9.2. Manufacturing Execution System (Mes)
9.3. Supervisory Control and Data Acquisition (SCADA)
9.4. Enterprise Resource Planning (Erp)
9.5. Predictive Maintenance
9.6. Data Historian
10 Overall Equipment Effectiveness Software Market, by Industry
10.1. Introduction
10.2. Automotive
10.3. Aerospace and Defense
10.4. Chemical
10.5. Electronics
10.6. Food & Beverage
10.7. Medical Devices
10.8. Metal & Mining
10.9. Oil & Gas
10.10. Pharmaceutical & Life Sciences
10.11. Others (Power & Utilities/Energy, Pulp and Paper, Telecom)
11 Overall Equipment Effectiveness Software Market, by Region
13 Company Profiles
14 Adjacent/Related Market
15 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/k3etfs
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