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.
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
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.
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.
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Attributes
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Details
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Report Title
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Manufacturing Operations Management Software Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Component (Software [On-premises and Cloud-based] and Services), Function (Planning & Scheduling, Labor Management, Quality Process Management, Process & Production Intelligence, and Others), End-use Industry (Chemicals, Automotive, Food & Beverages, Medical Equipment & Pharmaceuticals, Aerospace & Defense, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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Siemens; SAP SE; Rockwell Automation; iBase-t; Honeywell International Inc.; EMERSON ELECTRIC CO.; Dassault Systems; Critical Manufacturing; Aegis Software; L&T Technology Services Limited; and ABB.
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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.
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.
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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.
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.
Segments
The manufacturing operations management software market has been segmented on the basis of
Component
Function
- Planning & Scheduling
- Labor Management
- Quality Process Management
- Process & Production Intelligence
- Others
End-use Industry
- Chemicals
- Automotive
- Food & Beverages
- Medical Equipment & Pharmaceuticals
- Aerospace & Defense
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Siemens
- SAP SE
- Rockwell Automation
- iBase-t
- Honeywell International Inc.
- EMERSON ELECTRIC CO.
- Dassault Systems
- Critical Manufacturing
- Aegis Software
- ABB
Competitive Landscape
Key players competing in the global manufacturing operations management software market are Siemens; SAP SE; Rockwell Automation; iBase-t; Honeywell International Inc.; EMERSON ELECTRIC CO.; Dassault Systems; Critical Manufacturing; Aegis Software; L&T Technology Services Limited; and ABB.
These companies implement development strategies such as partnerships, mergers, collaboration, acquisitions, product launches, and production expansion to expand their consumer base globally. These market players constantly invest in the latest technology to stay ahead of the curve. For instance,
- In May 2023, L&T Technology Services partnered with Critical Manufacturing to aid Danfoss in smart manufacturing. This partnership is intended to use innovative Manufacturing Execution Systems (MES) to implement in an advanced digital framework.
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