Manufacturing Operations Management Software Market | 2031

Report Description

Manufacturing Operations Management Software Market Outlook 2031

The global manufacturing operations management software market size was USD 15.23 Billion in 2022 and is likely to reach USD 38.96 Billion by 2031, expanding at a CAGR of 12.8% during 2023–2031. The market is driven by the rise in industrial automation across the globe.

Growing requirement for efficiency and connectivity in the manufacturing process is projected to boost the market during the assessment period. The use of manufacturing operations management (MOM) software is becoming a necessity to control and optimize these automated systems, as manufacturers automate their production processes. The use of these software along with their integration with the supply chain network is likely to substantially propel the market in the coming years.

• In May 2022, Emerson Electric Co. released a new solution for automation called TopWorx DX Partial Stroke Test. It is intended to significantly enhance automation and safety by providing a valve for emergency shutdown.

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The use of MOM software helps in effectively reducing operational costs and aids in the proper utilization of resources. It offers real-time data analytics, which helps in making data-driven decisions to enhance production efficiency. Furthermore, the software ensures proper adherence to the rules and regulations while facilitating seamless workflow. These factors are anticipated to fuel the market in the coming years.

The COVID-19 pandemic hindered the market, due to the decline in manufacturing activities globally. Various governments and regulatory bodies across the globe imposed lockdown restrictions to ensure the safety of people. This disrupted the supply & distribution network and created a deficit in supply & demand. Therefore, the demand for manufacturing operations management software declined during the pandemic period.

Impact of Artificial Intelligence (AI) in Manufacturing Operations Management Software Market

The use of artificial intelligence is likely to provide substantial propulsion to the manufacturing operations management software market. AI integration in manufacturing has improved productivity, efficiency, and cost-effectiveness. It streamlines operations, automates complex tasks, and enables quick revisions to production plans. Routine tasks, such as data entry processes and customer queries, are automated with AI, freeing up human resources to focus on high-value activities.

Manufacturing Operations Management Software Market Dynamics

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Major Drivers

Increasing requirements to enhance operational efficiency are expected to drive the market during the projection period. Industries such as chemicals, medical equipment & pharmaceuticals, and food & beverages are expanding at a rapid rate, while maintaining high-quality standards and sustainability. Manufacturing operations management software is becoming a popular solution for boosting efficiency and transparency in production lines. By providing real-time data, this software reduces manual processes and improves the visibility of product features.

• According to a survey published in August 2023, the pharmaceutical industry has grown significantly over the last few years. The total nominal expenditure on medicines in the US was approximately USD 603 billion in 2022.

Existing Restraints

High concern for the safety of customer data is likely to hamper the market during the forecast period. One of the primary apprehensions of digital technology is the challenge of data breaches. The software for the management of manufacturing operations has large amounts of data that need to be uploaded to the cloud and on-premise servers. The data pertains to designs, products, customer data, patents, and several other facets. Manufacturers have been witnessing a large number of data breaches in recent years, which is anticipated to impede the market in the coming years.

Emerging Opportunities

Setting up smart factories with hi-tech equipment is anticipated to provide substantial growth opportunities for the market. Smart manufacturing involves integrating advanced technologies such as Artificial Intelligence (AI), the Internet of Things (IoT), and Big Data to create data-rich environments. This generates challenges for industrial transformation; however, manufacturing operations management systems help digitize factories and connect machines, measuring equipment, and other devices. This software also improves workflow management by improving data availability & analysis, increasing effectiveness, and flexibility, thereby ensuring compliance.

Scope of the Manufacturing Operations Management Software Market Report

The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Manufacturing Operations Management Software Market Segment Insights

Component Segment Analysis

Based on component, the manufacturing operations management software market is divided into software and services. The software segment is further segregated into on-premises and cloud-based. The cloud-based software segment is projected to hold the major share of the market during the projection period, due to the increasing adoption of advanced technologies such as big data and the Internet of Things (IoT) in several industries.

The incorporation of cloud-based solutions enhances the workflow by facilitating things such as large storage space, improved collaboration, information sharing, and compliance. The rising cost of maintenance is encouraging manufacturers to adopt cloud-based software systems, and thereby leading to the growth of this segment.

Function Segment Analysis

On the basis of function, the global market is segregated into planning & scheduling, labor management, quality process management, process & production intelligence, and others. The process & production intelligence segment is projected to register a high CAGR during the forecast period, owing to its provision of business intelligence for manufacturing industries.

Factors such as high demand for customization, increasing product complexities, and interconnected global markets are becoming challenging for manufacturers to manage. The data is combined and collectively analyzed for further processes with the aid of process and production intelligence. Therefore, its increasing adoption in industries such as chemicals, food & beverages, and aerospace & defense is projected to propel the segment in the coming years.

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End-use Industry Segment Analysis
On the basis of the end-use industry, the manufacturing operations management software market is segmented into chemicals, automotive, food & beverages, medical equipment & pharmaceuticals, aerospace & defense, and others. The automotive segment is anticipated to register a robust growth rate during the forecast period as the automotive industry relies on software for real-time visibility and control of all manufacturing units.

The automotive industry faces challenges when sudden production shifts are demanded, due to the market changes or unplanned events. The manufacturing operations management (MOM) software offers improved capacity utilization, synchronization of production & materials, and increased output. This is expected to boost the segment during the assessment period significantly.

• As per a survey report published in August 2023, approximately 80 million motor vehicles were manufactured in 2021 globally. Although there was a decline in production during the pandemic, the volume of cars manufactured has been increasing ever since.

The medical equipment & pharmaceuticals segment is anticipated to grow at a substantial CAGR during the assessment period. The healthcare industry aims to manage costs while providing quality service. Digital technologies such as AI, automation, and IoT play a major role in the industry. The software aids healthcare providers in managing data, providing efficiency, and managing the entire workflow. The implementation of MOM software also helps in testing laboratories by fastening data throughput and simplifying the work of scientists.

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Regional Outlook

In terms of region, the global manufacturing operations management software market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to lead the global market during the projection period, owing to the availability of advanced industrial infrastructure and the presence of several key market players. Countries such as the US are some of the top consumers of various end-use products. This leads to a high demand for the manufacture of these products. Hence, there is an increased requirement for MOM software to enhance production capacity and efficiently fulfill the consumer demand for such products.

The market in Europe is projected to have considerable propulsion in the coming period, due to the presence of various developed economies such as Italy and Germany in the region. These countries have some of large industries, leading to their dominance in the manufacturing sector. These industries are funded by the European Union to ensure a high rate of production and the use of the latest equipment and technology. Consequently, the market is likely to have substantial growth during the projection period.

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