“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
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The global manufacturing operations management software market size is projected to reach USD 22.64 billion by 2027, exhibiting a CAGR of 11.4% during the forecast period. Rising popularity of smart factory and industry 4.0 will propel the growth trajectory of the market, states Fortune Business Insights™ in its recent report, titled “Manufacturing operations management software Market” Size, Share and Industry Analysis, By Component (Services, Software), By Function (Labor Management, Planning and Scheduling, Process and Production Intelligence, Quality Process Management, Others), By Industry (Automotive, Chemicals, Medical Equipment and Pharmaceuticals, Food and Beverages, Aerospace and Defense, Others), and Regional Forecast, 2020-2027”. A smart factory can be understood as a regular factory, but operating in a web of highly connected and digitized environment. In such a factory, the workings of machinery and equipment are automated to streamline processes and optimize production. These interconnections are facilitated by the Internet of Things (IoT) technology, which is also a manifestation of the concept of Industry 4.0. Manufacturing operations management (MOM) software helps manufacturers to properly utilize these advanced technologies to improve their manufacturing processes, which in turn allows them to produce better quality products. Thus, one of the top manufacturing operations management software market trends is the increasing adoption of smart factory by manufacturers across the industrial spectrum.
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The MOM software market report states that the market value stood at USD 9.75 billion in 2019. The other highlights of the report include:
Market Restraint
Concerns Surrounding Data Vulnerability to Impede Market Growth
Cloud-based operations management solutions offer a range of benefits such as easy implementation, cost-effectiveness, convenient accessibility, and data integration. However, growing interaction between humans and machines has led to generation of data in gargantuan amounts. While MOM software tools enable efficient data collection and analysis, they are equally vulnerable to hacking and privacy infringement. For example, a buyer does not have complete control of the security and privacy of his company’s data as some control lies with the vendor. This means that manufacturers wanting to adopt such technologies place a high amount of trust in the vendor, which can make them hesitant in purchasing such solutions. This may stem the uptake of MOM tools and hinder the manufacturing operations management market growth in the coming years.
Manufacturing Operations Management Software Market Landscape and Market Scenario Includes:
Regional Analysis
Heavy Investment in Software Technology to Drive the Market in North America
In 2019, North America generated revenue of USD 3.66 billion and is anticipated to lead the manufacturing operations management software market share during the forecast period. This is mainly attributable to the heavy investments made the governments in the region as well as the private sector in developing and adopting advanced tools for improving efficiency of the manufacturing sector. In Europe, on the other hand, the market will be primarily led by the robust manufacturing sectors in Germany and Italy. Asia-Pacific is expected to showcase fastest growth among regions owing to the speedy development of the manufacturing sector in China and India.
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Segmentation
1. By Component
2. By Function
3. By Industry
4. By Region
Highlights of the Manufacturing Operations Management Software Market Report
Competitive Landscape
Increasing Strategic Collaborations to Energize Market Competition
The manufacturing operations management market forecast predicts a high-energy period for the market as top competitors look to entrench their position in this market. Their prime strategy for achieving this is by forging alliances and entering into strategic partnerships to develop novel products and strengthen their portfolio.
Queries Addressed In Market Report:
Industry Developments:
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List of Companies Covered in the Manufacturing Operations Management Market Report:
Key Features of Market Research Report:
Lastly, this report covers the market landscape and its growth prospects over the coming years, the Report also brief deals with the product life cycle, comparing it to the relevant products from across industries that had already been commercialized details the potential for various applications, discussing about recent product innovations and gives an overview on potential regional market shares.
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Table of Content
5.Global Manufacturing Operations Management Software Market Analysis, Insights and Forecast, 2015-20275.1.Key Findings / Summary5.2.Market Size Estimates and Forecasts5.2.1.By Component5.2.1.1.Software5.2.1.1.1.On-premises5.2.1.1.2.Cloud5.2.1.2.Services5.2.2.By Function (Value)5.2.2.1.Labour Management5.2.2.2.Planning and Scheduling5.2.2.3.Process and Production Intelligence5.2.2.4.Quality Process Management5.2.2.5.Others5.2.3.By Industry (Value)5.2.3.1.Automotive5.2.3.2.Chemicals5.2.3.3.Medical Equipment and Pharmaceuticals5.2.3.4.Food and Beverages5.2.3.5.Aerospace and Defense5.2.3.6.Others5.2.4.By Geography (Value)5.2.4.1.North America5.2.4.2.Europe5.2.4.3.Asia Pacific5.2.4.4.Middle East and Africa5.2.4.5.Latin America6.North America Manufacturing Operations Management Software Market Analysis, Insights and Forecast, 2015-20276.1.Key Findings / Summary6.2.Market Size Estimates and Forecasts6.2.1.By Component6.2.1.1.Software6.2.1.1.1.On-premises6.2.1.1.2.Cloud6.2.1.2.Services6.2.2.By Function (Value)6.2.2.1.Labour Management6.2.2.2.Planning and Scheduling6.2.2.3.Process and Production Intelligence6.2.2.4.Quality Process Management6.2.2.5.Others6.2.3.By Industry (Value)6.2.3.1.Automotive6.2.3.2.Chemicals6.2.3.3.Medical Equipment and Pharmaceuticals6.2.3.4.Food and Beverages6.2.3.5.Aerospace and Defense6.2.3.6.Others6.2.4.By Country (Value)6.2.4.1.U.S.6.2.4.2.Canada7.Europe Manufacturing Operations Management Software Market Analysis, Insights and Forecast, 2015-20277.1.Key Findings / Summary7.2.Market Size Estimates and ForecastsTOC Continued….!
An Overview of the Impact of COVID-19 on this Market:
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