Manufacturing operation management (MOM) software is a managing software that operates on a collection of systems, which is used to manage end-to-end manufacturing operation processes with a primary aim to optimize the efficiency of manufacturing operations. The software provides complete transparency into the process of the manufacturing process and consequently helping in improving the manufacturing operation process. Moreover, the software also provides better flexibility and improves the competence of the manufacturing plant. This software solution is extensively used across various industries such as automotive, pharmaceuticals, food & beverages, chemical, consumer goods, defence and oil & gas among other industries.
According to study, “Manufacturing Operations Management Software Market by Component (Software and Services), Functionality (Inventory Management, Labor Management, Manufacturing Execution System (MES), Process & Production Intelligence, Quality Process Management, and Others), Enterprise Size (Small & Medium Enterprises and Large Enterprises), and Industry Vertical (Automotive, Chemical, Healthcare, Food & Beverages, Consumer Goods, Aerospace & Defense, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026”. Some of the key companies operating in the global manufacturing operations management software market is ABB Ltd., Aspen Technology, Inc., Aegis Industrial Software Corporation, Critical Manufacturing, Emerson Electric Co., Dassault Systems SE, General Electric Company, Plex Systems, Honeywell International, Inc., and Siemens AG. The key players are focused on increasing their research & development (R&D) investments in order to improve their assistances to serve the specific requirements of end-users.
Based on component, manufacturing operations management software market is categorized as services and software. The software segment holds a major share in the market owing to the emergence of digitalization in manufacturing production areas to improve production performance and improve efficiency, flexibility, and time-to-market. Based on functionality, the market is categorized as process & production intelligence, labour management, inventory management, quality process management, manufacturing execution system (MES), and others (planning, scheduling & dispatching, etc.). Based on enterprise size, the market is categorized as large enterprises and small & medium enterprises. In addition, based on industry vertical, the market is categorized as consumer goods, healthcare, automotive, food & beverages, chemicals, aerospace & defence and others (oil and gas, metal and mining, etc.).
The manufacturing operations management software market is driven by the advent of industry 4.0, followed by a rise in need for compliance with stringent healthcare regulations, the momentum of manufacturing toward digital transformation, and growth in the implementation of robotic process automation (RPA). However, the high initial investment may impact the market. Moreover, the rise in advancements in Industrial Internet of Things (IIoT) and an increase in the adoption of supervisory control & data acquisition are key opportunities for the market.
Based on geography, the market is analysed across Europe, Asia-Pacific, North America, and LAMEA. The North-American region dominates the manufacturing operations management software market owing to an increase in the global competitiveness among manufactures, high investments by regional governments & prominent players, and the emergence of extensive technological advancements in manufacturing in the region. Whereas, the Asian-Pacific and European regions are expected to emerge higher growth rates due to a rise in demand for technology-based services over the forecast period. In the upcoming years, it is predicted that the future of the market will be optimistic because of the growth in the number of manufacturing facilities during the forecast period.
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