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Manufacturing operation management (MOM) is a system used for managing manufacturing practices such, instrumentation, inventory planning, quality management, sequencing process, etc. with an aim to improve efficiency and performance of entire manufacturing operations. The manufacturing operation management system provides benefits of standardizing and optimizing processes, minimizing lead-times, improving asset utilization, improving response time and increasing production visibility among others.
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MOM system is also capable of integrating information from multiple factory locations, enabling manufacturers to make faster, better, and more rational decisions to improve operational efficiency. According to a report published by PWC, the global I-IoT based manufacturing industry is expected a reach around US$ 3 Tn by the end of 2022.
Adoption of technologies such as manufacturing execution systems (MES) and ERP technology in manufacturing operations. Further, increasing usage of industrial IoT automation solutions coupled with the manufacturing execution system (MES) and production optimization software, are some of the factors that are driving the growth of the market. Further, the rising adoption of cloud-based solutions is propelling market growth globally. Further, the expansion of Blockchain technology is one of the major drivers expected to grow the manufacturing operation management market globally.
Some of the major players in the manufacturing operation management market include Emerson Electric Co., Honeywell International Inc., Schneider Electric SE, ABB Ltd., General Electric Co., Invensys plc. General Electric Company, and others.
· Employer Management
· Manufacturing Execution System (MES)
· Quality Process Management
· Inventory Management
· Process and Production Intelligence
By Industry Vertical
· Industrial Equipment
· Healthcare and Pharmaceuticals
· Food and Beverages
· Consumer Goods
· Aerospace and Defence
· North America (the USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
Globally, APAC is expected to be the largest manufacturing operation management market over the forecasted period owing to huge investment done by the governments and leading players across the region for technological developments in the manufacturing industry. China ranks first with the economy over US$ 2.4 Tn in the manufacturing industry and is considered as the largest producer, exporter, and consumer of electronic goods in 2018. Further, the North America region is expected to witness high manufacturing operation management system growth in the forecasted period. The development of the North America region is mainly because of the heavy demand for manufacturing operating systems from the industries such as food and wastewater treatment, power and utility industries, food and beverage, etc. among others.
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