New York, United States , Dec. 11, 2023 (GLOBE NEWSWIRE) -- The Global Manufacturing Operations Management Software Market Size is to grow from USD 16.4 billion in 2022 to USD 52.7 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 12.3% during the projected period.
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The manufacturing operations management software ensures that the workforce and associated processes follow a set of regulations and standards necessary to maintain production value. The software is made up of a set of procedures that are constantly improving inventory, production, maintenance, quality control, and human resource requirements in order to meet product innovation, cost savings, regulatory compliance, sustainability, and product quality. There is a rising need to improve operational efficiency and product quality in order to drive the market. High-quality products and solutions are in high demand in the chemical, medical equipment, and pharmaceutical industries, food and beverages, and other industries. This is expected to have a significant impact on industrial facilities, minimizing efficiency. There is adequate information provided about the product's quality. This is expected to boost product visibility and decrease manual processes, increasing demand for manufacturing operations management software in the near future. However, one of the primary issues connected with digital transformation is data confidentiality. The industrial facility management software shares various data and archives it in the public cloud and on-premises to fulfill the functions. Data can be linked to products, layouts, patents, customer information, and various other criteria. Furthermore, in recent years, manufacturers have observed an increase in the frequency of data breaching attacks.
COVID-19 Impact
With strict lockdown and social distance laws, the COVID-19 pandemic has impacted the worldwide supply chain. When traditional manufacturing operations management systems became ineffective during COVID-19, technology played a significant role in streamlining the entire manufacturing operations process by integrating real-time data along with superior technological tools such as advanced analytics, machine learning, AI, cloud technologies, and others. As a result, it encouraged process automation and digitization, as well as increased organizational efficiency.
Browse key industry insights spread across 200 pages with 150 market data tables and figures & charts from the report on "Global Manufacturing Operations Management Software Market Size, Share, and COVID-19 Impact Analysis, By Component (Software, Services), By Deployment (On-premise, Cloud), By Enterprise Size (Large Enterprises, SMEs), By Application (Advanced Planning & Scheduling, Manufacturing Execution Systems (MES), Labor Management, Inventory Management, Quality Management, Laboratory Management, Others), By End-use (Aerospace & Defense, Automotive, Pharmaceuticals & Medical Equipment, Chemicals, Food & Beverages, Consumer Goods, Others) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032".
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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. Because of the simplified decision-making process, the program eliminates the need to switch programs for data collecting by enabling a single view of the complete process. The software is more dependable and enables stronger security, faster decision-making, lower operational costs, and enhanced efficiency by handling all information on a single platform with all essential applications.
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 provides organizations with additional flexibility because it does not require installation on users' premises and is available on a subscription basis. Because these licenses can be extended based on the demands of the user, it improves scalability, cost-effectiveness, and client convenience. These benefits of cloud adoption will drive segment expansion during the forecast period.
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 delivers supply chain management, quality control, production management, unified operations management, and other services to major organizations, allowing them to boost efficiency and simplicity of operation. It also allows end-to-end tracking and monitoring of real-time data in large companies, as well as analysis and implementation of acquired results for prompt actions and prospective decision-making.
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 systems improve product quality by minimizing wastage and enhancing customer satisfaction. Manufacturing operations management software improves process and quality planning, monitoring, and control.
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North America dominates the market with the largest market share of more than 33.3% over the forecast period.
North America is dominating the largest market share over the forecast period. Because of the widespread use of technologies such as Industrial IoT and AI, among others, the United States has the greatest percentage of the market share. The majority of US manufacturing industries are forming digital alliances to improve manufacturing processes by implementing services such as supply chain management, product lifecycle management, manufacturing operations management software, and enterprise resource planning, among others. During the projected period, the Asia-Pacific market is expected to grow the fastest. The rapid growth of the region's industrial sector is increasing demand for manufacturing operations management software due to lower operating costs, increased availability of resources, and rising government support for establishing smart manufacturing facilities and the industry 4.0 initiative.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Manufacturing Operations Management Software Market include 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 among others.
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Recent Market 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.
Market Segment
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
- Software
- Services
Manufacturing Operations Management Software Market, Type Analysis
- On-premise
- Cloud
Manufacturing Operations Management Software Market, Enterprise Size Analysis
- Large Enterprises
- SMEs
Manufacturing Operations Management Software Market, Application Analysis
- Advanced Planning & Scheduling
- Manufacturing Execution Systems (MES)
- Labor Management
- Inventory Management
- Quality Management
- Laboratory Management
- Others
Manufacturing Operations Management Software Market, End-use Analysis
- Aerospace & Defense
- Automotive
- Pharmaceuticals & Medical Equipment
- Chemicals
- Food & Beverages
- Consumer Goods
- Others
Manufacturing Operations Management Software Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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