Dublin, Jan. 29, 2024 (GLOBE NEWSWIRE) -- The "Global Manufacturing Operations Management Software Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
As the global industrial landscape evolves, the demand for advanced Manufacturing Operations Management (MOM) software is accelerating, driving the market to an anticipated value of US$ 19.1 Billion by 2028. Demonstrating a compound annual growth rate (CAGR) of 10.8% from 2022 to 2028, the market's growth trajectory is supported by the integration of innovative technologies and the proliferation of the Industry 4.0 revolution.
The latest market analysis report on the manufacturing operations management software sector offers granular insights into market trends, shares, sizes, growth opportunities, and key driving factors. As industries worldwide adopt robotics, the integration of Artificial Intelligence (AI), the Internet of Things (IoT), and other cutting-edge technologies, the report illustrates a burgeoning market enhanced by digital transformation.
MOM Software Driving Efficiency Across Diverse Verticals
The report, segmenting the market by functionality, enterprise size, and industry vertical, identifies Manufacturing Execution System (MES) as the dominant functional area. Large enterprises lead in MOM software implementation, driven by the need for optimized production processes and improved compliance management.
The automotive industry has especially benefited from MOM software due to the need for higher quality standards and numerous customizations. Conversely, the healthcare sector's focus on inventory management and the F&B sector's focus on traceability have significantly contributed to market expansion. Emerging trends highlighted within the report indicate a drift toward customization, flexibility, and the necessity for operational excellence as key market influencers.
Regional Momentum and Market Segmentation
With detailed regional analysis, the report identifies North America as the predominant market for MOM software, spurred by rampant automation and substantial investments. The analysis includes evaluation across several geographies, including Asia-Pacific, Europe, Latin America, and the Middle East and Africa, showcasing a comprehensive understanding of the global market dynamics.
Competitive Landscape and Strategic Insights
The competitive analysis in the report elucidates the market structure, shares, positioning, and strategies of key players, alongside a company evaluation quadrant. By informing industry leaders about competitors' strategic moves, the report is instrumental in decision-making and long-term planning, capitalizing on market opportunities.
Key Market Findings:
- Identified growth drivers such as the adoption of AI, ML, IoT, cloud computing, and AR in MOM systems.
- Highlighted sectors where MOM software is crucial: automotive, healthcare, food and beverages.
- Projected CAGR of 10.8% from 2022 to 2028, predicting significant market expansion.
Companies Mentioned
- ABB Ltd.
- Aegis Industrial Software Corporation
- Aspen Technology Inc.
- Critical Manufacturing (ASM Pacific Technology Limited)
- Dassault Systemes SE
- Emerson Electric Co. General Electric Company
- Honeywell International Inc.
- International Business Machines Corporation
- Oracle Corporation
- Plex Systems Inc.
- Siemens AG
For more information about this report visit https://www.researchandmarkets.com/r/ydgilt
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