Manufacturing Operations Management (MOM) Software Market

Digital Transformation of Industries to Drive Adoption of MOM Software Industry 4.0 - a buzzword across verticals, which has become popular in recent years, fosters what can be considered a 'smart factory'. Smart manufacturing incorporates the use of manufacturing operations management (MOM) systems for managing end-to-end manufacturing processes directly, positively impacting the evolution of the manufacturing operations management software market.

With the introduction of robotic process automation (RPA) on factory floors and business process automation becoming the standard, manufacturing companies across industries have started investing in IT solutions to enhance quality and production capability. This has had a consequent positive influence on the growth of the manufacturing operations management software market.

Manufacturing operations management software provides critical support for managing processes that involve end-to-end manufacturing. Based on functionality, MOM software includes inventory management, process and production intelligence, labour management, manufacturing execution systems, quality process management, and more. Of these, MES accounted for the largest share of ~50% by value, and is set to increase at a CAGR of ~9% during the forecast period.

Get Sample Copy: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=52098 High Initial Investment to Restrain Growth The acceptance and adoption of MOM software across industries has been widespread, particularly as companies increasingly turn to digital services and solutions, which can be attributed to its many advantages, including improving operational efficiency. However, there is resistance in some cases among end users that could negatively impact the market. This reluctance comes due to the high initial costs required to set up and install MOM software, which involves expensive hardware and software. This is anticipated to be a low-impact restraint on the growth of the global manufacturing operations management software market during the forecast period.

Healthcare and Pharmaceuticals to Remain Lucrative Sectors The healthcare and pharmaceuticals sectors held a significant share of ~20% in the global manufacturing operations management software market in 2018, which is expected to double over the forecast period. Operations management has become indispensable within healthcare, and the primary function of MOM software includes applications to manage the short-term scheduling of operations and long-term planning for data analysis. Also contributing to the growth of the MOM software market is the requirement of real-time analytics of operations within these sectors. This demand has led to players in the manufacturing operations management software market finding lucrative prospects by focusing on software solutions to cater to the needs of healthcare and pharmaceuticals industries.

Grab an exclusive PDF Brochure of this report: https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=52098 Competition Landscape The global manufacturing operations management software market is considered to be moderately fragmented, with key players in the market - Siemens AG, ABB Ltd, and Dassault Systems SA occupying ~30% of the total revenue share. These companies are increasingly focusing on

technological innovation to retain their competitive edge in the global landscape. For instance, in June 2019, Seimens launched Siemens Opcenter™, marketed as a single, connected, cloud-ready portfolio, to improve the efficiency, quality, and visibility of operational processes.

Other prominent players in the market, such as Emerson, Honeywell International Inc., and General Electric Co, are focusing on mergers and acquisitions as a strategy to strengthen their position the global landscape. For instance, in May 2018, Emerson acquired Aventics, a global leader in smart pneumatics technologies that power machine and factory automation applications, a move that helped expand the company’s reach, globally.

Request For Customization: https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=52098 Analysts’ Overview The global manufacturing operations management software market, according to this report by Transparency Market Research, is set to expand robustly at a CAGR of ~10% during the forecast period. With operational efficiency at the center of product innovation, players launching solutions that are tailor-made for specific industries are likely to experience maximum gains in the foreseeable future.

Although cloud-based services in the MOM software market are expected to become popular in the near future, on-premise services are likely to remain preferred over the forecast period. Software providers looking to capitalize on this preference are likely to gain a competitive edge in the landscape.

Although restraints such as cloud security and high initial investment costs are expected to have a negative impact on the evolution of the MOM software market, the benefits of paperless management and enhanced operational efficiency are likely to fuel the growth of the market in the foreseeable future.

Manufacturing Operations Management (MOM) Software Market in Brief 

The global manufacturing operations management software market is expected to register a CAGR of ~10% over the forecast period. The MOM software market is projected to be driven by various factors, including momentum of manufacturing toward digital transformation, implementation of robotic process automation (RPA), and growing need for compliance with stringent government regulations.

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The manufacturing operations management software market is projected to reach ~US$ 17 Bn by 2027 from ~US$ 8 Bn in 2019. Increased adoption of supervisory control and data acquisition, and advancements in Industrial IoT (IIoT) are the factors projected to create opportunities in the global manufacturing operations management software market.

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The software segment is anticipated to capture the largest share among the components considered for analyzing the manufacturing operations management software market.

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North America remains the dominant leader in the global manufacturing operations management software market, with revenue in 2019 estimated to reach ~US$ 2.5 Bn. Factors responsible for this dominance include high investments by regional governments and prominent players across the region toward technological development in the manufacturing industry.

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In terms of industry, the healthcare and pharmaceuticals segment is expected to dominate the MOM software market with a share of ~19% in 2019, and the segment is expected to continue this dominance in the manufacturing operations management software market during the forecast period.

Manufacturing Operations Management Software Market Definition 

The report provides an analysis of the global manufacturing operations management software market for the period of 2017–2027, wherein, 2018 is the base year and 2019 to 2027 is the forecast period. Data for 2017 has been included as historical information.

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In this report, we analyze the growth drivers that enhance the value of the MOM software market, and various opportunities prevailing in the global manufacturing operations management software market.

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Manufacturing operations management software providers are focused on increasing their R&D investments in order to improve their offerings to serve the specific requirements of end users.

Manufacturing Operations Management Software Market – Snapshot 

Asia Pacific is one of the fastest growing regions in the manufacturing operations management software market, as this region is witnessing increased adoption of new technologies.

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Also, manufacturing companies in Asia Pacific are championing the digitization and end-toend integration of their operations, and introducing digital products and services.

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These factors are expected to fuel the demand for MOM software to a great extent in the near future.

Key Growth Drivers of MOM Software Market 

Manufacturing heading toward digital transformation - Nowadays, manufacturing companies use various digital services in order to manage their operations. More than 70% of the analysis and monitoring of their routine processes takes place with the help of software solutions. The implementation of advanced software-based solutions such as MOM has been increasing to overcome technical errors. Also, MOM plays an important role in integrating information systems on the shop floor, and business systems in corporate offices, leading to a gradual phasing-out of traditional paper-based systems. Hence, these advantages offered by MOM software are expected to drive demand during the forecast period.

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Compliance with stringent government regulations – Highly regulated industries such as medical devices and equipment require rigorous internal and external reporting to comply with strict government regulations. Quality and uniformity are given significant importance in such industries. Manufacturing operations management software has the ability to automate essential regulatory processes to comply with government regulations and meet the requirements of reporting in such industries, which is expected to fuel the growth of the manufacturing operations management software market in the coming years.

MOM Software Market: Key Restraints

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Cloud security and network transmission issues - MOM software models that rely heavily on-cloud services are susceptible to service impairment or control loss, data leakage, and service loss, including service interruptions, or in worse cases, monetary loss. User experience may also be affected by unstable network transmissions at some places, and this would limit the reach of cloud-based services and hybrid services/solutions in the affected regions. This factor is expected to create a hindrance in the growth of the manufacturing operations management software market during the forecast period.

Manufacturing Operation Management Software Market – Competitive Landscape 

In June 2019, Siemens AG introduced the Opcenter software, a solution for manufacturing operations management software.

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In November 2018, Aegis Software and CircuitByte jointly hosted an exclusive seminar on how to transition a factory to Industry 4.0. These seminars are expected to increase client reach and improve relationships with them.

MOM Software Market- Company Profile Snapshot 

Siemens AG: Siemens AG is a technology company that provides solutions in the field of electrification, automation, and digitalization. The company primarily operates through nine business segments: power & gas, energy management, building technologies, mobility, digital factory, process industries & drives, Healthineers, Siemens Gamesa Renewable Energy, and financial services (SFS).

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ABB Ltd.: ABB Ltd. is a Swedish multinational corporation primarily engaged in the development of power, robotics, and automating solutions. Under the process automation segment, the company offers manufacturing execution systems and other solutions that are designed to optimize the productivity, energy efficiency, and safety of industrial processes.

ABB has operations in over 100 countries around the globe.

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