Manufacturing Operations Management Software Market to Grow at 11.4% CAGR till 2027; Rising Adoption of MOM Software in Pharmaceutical Industry to Foster Sustained Growth

The global manufacturing operations management software market size is slated to hit USD 22.64 billion by 2027 on account of expanding manufacturing activity in developing nations, according to the new Fortune Business Insights™ report, titled “Manufacturing operations management software Market Size, Share & Industry Analysis, By Component (Services, Software), By Function (Labor Management, Planning & Scheduling, Process and Production Intelligence, Quality Process Management, Others), By Industry (Automotive, Chemicals, Medical Equipment & Pharmaceuticals, Food and Beverages, Aerospace and Defense, Others), and Regional Forecast, 2020-2027”. The report further states that the market value stood at USD 9.75 billion in 2019 and is expected to surge at 11.4% CAGR from 2020 to 2027.

Siemens Launches New MOM Software Solution

Technology bigwigs are fully exploiting the opportunities for innovation available in the MOM software domain and are driving the manufacturing operations management software market trends. In June 2019, Siemens Digital Industries Software made available commercially the company’s novel Siemens Opcenter™ software. The offering is a comprehensive portfolio of advanced solutions and tools for efficient management of manufacturing operations. The platform integrates disparate MOM capabilities such as quality management, advanced planning and scheduling, laboratory management, and manufacturing intelligence. Furthermore, the software unifies these diverse MOM aspects onto a cloud-based portfolio, offering a streamlined and optimized experience.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/manufacturing-operations-management-software-market-102713

Increasing Incorporation of AI in Manufacturing to Elevate Market Potential

Artificial Intelligence (AI) and its associated technologies are finding increasing applicability in the manufacturing sector. The demand for higher efficiency and productivity is steadily gathering momentum in this sector and AI-powered MOM software tools are fast emerging as feasible solutions for it. For example, AI enables a manufacturer to collect real-time data during the production process and optimize the machinery and equipment to create the desired quality of products. Owing to these advantages, AI-based MOM systems are being aggressively adopted in the automotive industry, which is fueling the manufacturing operations management market growth. Automakers need to constantly adapt to the changing preferences of consumers based on their income fluctuations and other exogenous factors. MOM software allows carmakers to adjust synchronize their processes to efficiently cater to the volatility in consumer demand for vehicles in an economy. 

Integration of Smart Technologies with MOM Software to Intensify Competition

According to the manufacturing operations management software market analysis, leading companies such as ABB and Rockwell Automation are conceiving platforms that will enable manufacturers to utilize a cohesive suite of tools for MOM purposes. Moreover, these companies are developing industry-specific software to accelerate the movement toward smart manufacturing. Lastly, majority of the players in the market are focusing on efficiently employing Industry 4.0-based cloud technologies to harmonize the integration of diverse software into a single module.

Industry Development:

• June 2019: The French software giant Dassault Systems initiated a campaign called ‘3DEXPERIENCE On Wheels- Connected Factory’ in Pune, India under its Connected Value Network campaign. This is the company’s second customer outreach campaign of 2019, which aims at enhancing the supply chain ecosystem in the manufacturing sector in the country.

List of Key Players Profiled in the Manufacturing Operations Management Market Report:

• iBASEt
• SAP SE
• ABB Ltd
• EMERSON ELECTRIC CO
•  Critical Manufacturing S.A.
• Aegis Industrial Software Corporation
• Siemens Ltd.
•  Rockwell Automation Inc.
• Honeywell International Inc.
• Dassault Systems

Further Report Findings:

• Having generated revenue of USD 3.66 billion in 2019, North America is poised to dominate the manufacturing operations management market share in the forthcoming period. This will occur on account of heavy digitization and automation of manufacturing processes in the region.
• In the Middle East & Africa region, rising adoption of MOM software solutions along with expansion of the automotive industry will primarily drive the market growth.
• The quality process management segment, classified on the basis of function, held a share of 22.0% in 2019, the third-largest in the market. This segment is anticipated to exhibit decent growth in the coming years owing to increasing focus of manufacturers to maintain quality standard of their products.

Global Manufacturing Operations Management Software Market Scope&Segmentation: