The latest report by IMARC Group, titled “Manufacturing Operations Management Software Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global manufacturing operations management software market size reached US$ 9.5 Billion in 2021. Manufacturing operations management (MOM) software is used to provide transparency into manufacturing processes, digitalize production, and process information into a unified system. It helps in improving execution systems, advanced planning and scheduling, and managing quality and research and development (R&D) projects. Additionally, it assists in asset and compliance management, human-machine interface (HMI), performance analysis, sequencing, and supervisory control and data acquisition (SCADA) intelligence. Nowadays, manufacturers from different industry verticals are adopting MOM software to manage industrial operations as manual approaches are inconsistent, inefficient, and time-consuming.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Manufacturing Operations Management (MOM) Software Market Trends:
The market is primarily driven by the increasing automation in manufacturing activities. MOM software enables the digital transformation of operational processes and helps to optimize production performance, efficiency, and flexibility. In addition, the integration of artificial intelligence (AI), application programming interfaces (APIs), robotic processes, and real-time data collection in the defense and aerospace industries across the globe, acts as another major growth-inducing factor. Moreover, with the growing prevalence of chronic diseases and increasing demand for healthcare services, the pharmaceutical industry is constantly undergoing changes and upgrades, which is escalating the demand for MOM software to facilitate the production process of medical essentials. Apart from this, the rising awareness regarding hygiene, sustainability, food safety, and traceability is also encouraging the extensive adoption of this software in the food and beverage (F&B) sector. Furthermore, various manufacturers are developing effective operations and agility due to the rising competition in the market to provide secure, customized, and modern software platforms that give supervisors, operators, and plant managers the insights and visibility to make decisions, thus creating a positive market outlook. Looking forward, IMARC Group expects the market value to reach US$ 17.5 Billion by 2027, exhibiting a CAGR of 11% during the forecast period (2022-2027).
- Based on the functionality, the market has been classified into inventory management, labor management, manufacturing execution system (MES), process and production intelligence, quality process management, and others.
- On the basis of the enterprise size, the market has been bifurcated into small and medium, and large enterprises.
- Based on the industry vertical, the market has been classified into automotive, chemical, healthcare, food and beverages, consumer goods, aerospace and defense, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being ABB Ltd., Aegis Industrial Software Corporation, Aspen Technology Inc., Critical Manufacturing (ASM Pacific Technology Limited), Dassault Systemes SE, Emerson Electric Co., General Electric Company, Honeywell International Inc., International Business Machines Corporation, Oracle Corporation, Plex Systems Inc. and Siemens AG
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