The Growing Adoption of Paperless Technologies Across Manufacturing Sector is Driving the Growth of Manufacturing Operation Management Software Market
Globally, the manufacturing operation management software market is expected to grow with a CAGR of 9.3% during the forecast period from 2019 to 2027. The growing adoption of paperless technologies across the manufacturing sector drives the market. Paperless technologies are referred to the use of software technologies across the industry sectors to keep track of the production process and enhance operational efficiency. Moreover, the advanced software solution enables manufacturers to integrate multiple data points into a single platform to streamline decision-making and drive business agility.
The increasing adoption of automation across the manufacturing organization is serving as a major factor driving the demand for the manufacturing operation management software market. Moreover, the rising need among manufacturers to enhance operational efficiency is accelerating market growth. However, data safety and security associated issues act as major inhibitors to the market's growth.
Market Synopsis
Inventory Management is Dominating the Manufacturing Operation Management Market
The manufacturing operation management software market is categorized based on functionality into inventory management, labor management, manufacturing execution system (MES), process & production intelligence, quality process management, and others. Inventory management accounted for more than 30% share in the revenue in 2018.
The market's growth is attributed to the growing adoption of advanced software solutions to streamline the supply chain operating across the industrial sector. Moreover, the growing need among enterprises to enhance operational performance is also accelerating the adoption of inventory management solutions. On the other hand, process & production intelligence is estimated to grow significantly during the forecast period.
North America is Leading the Manufacturing Operation Management Software Market
North America accounted for more than 37% of the manufacturing operation management software market in 2018. The growing adoption of automating manufacturing processes is the primary factor driving the growth of the market. The supportive government initiatives across the region to support automation and digitalization are further accelerating the adoption of software solutions across the industry sector. Additionally, the increasing adoption of advanced technologies such as the Industrial Internet of Things (IIoT), AI, and Big Data solutions is driving market growth.
The key players in the manufacturing operation management software market are ABB Ltd., Critical Manufacturing, Dassault Systemes, Emerson Electrical Co., Epicor Software Corporation, Aegis Industrial Software Corporation, General Electric Company, Honeywell International Inc., iBASEt, Invensys PLC, Rockwell Automation, Schneider Electric, and Siemens AG.
Historical & Forecast Period
This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. In addition, compounded Annual Growth Rate (CAGR) for each respective segment was calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The manufacturing operation management software market report provides market size and estimates based on market dynamics and key trends observed in the industry. In addition, the report provides a holistic view of the global manufacturing operation management software market based on components, functionality, application, and geography.
Frequently Asked Questions:
The market for Manufacturing Operation Management Software is expected to reach US XX Mn by 2027.
The Manufacturing Operation Management Software market is expected to see significant CAGR growth over the coming years, at 9.3%.
The report is forecasted from 2019-2027.
The base year of this report is 2021.
ABB Ltd., Aegis Industrial Software Corporation, Critical Manufacturing, Dassault Systemes, Emerson Electrical Co., Epicor Software Corporation, General Electric Company, Honeywell International Inc, iBASEt are some of the major players in the global market.
