Digital Transformation of Industries to Drive Adoption of MOM Software

Industry 4.0 – a buzzword across verticals, which has become popular in recent years, fosters what can be considered a ‘smart factory’. Smart manufacturing incorporates the use of manufacturing operations management (MOM) systems for managing end-to-end manufacturing processes directly, positively impacting the evolution of the manufacturing operations management software market.

With the introduction of robotic process automation (RPA) on factory floors and business process automation becoming the standard, manufacturing companies across industries have started investing in IT solutions to enhance quality and production capability. This has had a consequent positive influence on the growth of the manufacturing operations management software market. Manufacturing operations management software provides critical support for managing processes that involve end-to-end manufacturing. Based on functionality, MOM software includes inventory management, process and production intelligence, labour management, manufacturing execution systems, quality process management, and more. Of these, MES accounted for the largest share of ~50% by value, and is set to increase at a CAGR of ~9% during the forecast period.

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manufacturing operations management mom software market infographics

High Initial Investment to Restrain Growth

The acceptance and adoption of MOM software across industries has been widespread, particularly as companies increasingly turn to digital services and solutions, which can be attributed to its many advantages, including improving operational efficiency. However, there is resistance in some cases among end users that could negatively impact the market. This reluctance comes due to the high initial costs required to set up and install MOM software, which involves expensive hardware and software. This is anticipated to be a low-impact restraint on the growth of the global manufacturing operations management software market during the forecast period.

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Healthcare and Pharmaceuticals to Remain Lucrative Sectors

The healthcare and pharmaceuticals sectors held a significant share of ~20% in the global manufacturing operations management software market in 2018, which is expected to double over the forecast period. Operations management has become indispensable within healthcare, and the primary function of MOM software includes applications to manage the short-term scheduling of operations and long-term planning for data analysis. Also contributing to the growth of the MOM software market is the requirement of real-time analytics of operations within these sectors. This demand has led to players in the manufacturing operations management software market finding lucrative prospects by focusing on software solutions to cater to the needs of healthcare and pharmaceuticals industries.

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Competition Landscape

The global manufacturing operations management software market is considered to be moderately fragmented, with key players in the market – Siemens AG, ABB Ltd, and Dassault Systems SA – occupying ~30% of the total revenue share. These companies are increasingly focusing on technological innovation to retain their competitive edge in the global landscape. For instance, in June 2019, Seimens launched Siemens Opcenter™, marketed as a single, connected, cloud-ready portfolio, to improve the efficiency, quality, and visibility of operational processes.

Other prominent players in the market, such as Emerson, Honeywell International Inc., and General Electric Co, are focusing on mergers and acquisitions as a strategy to strengthen their position the global landscape. For instance, in May 2018, Emerson acquired Aventics, a global leader in smart pneumatics technologies that power machine and factory automation applications, a move that helped expand the company’s reach, globally.

manufacturing operations management mom software market segmentation

Manufacturing Operations Management (MOM) Software Market in Brief

  • The global manufacturing operations management software market is expected to register a CAGR of ~10% over the forecast period. The MOM software market is projected to be driven by various factors, including momentum of manufacturing toward digital transformation, implementation of robotic process automation (RPA), and growing need for compliance with stringent government regulations.
  • The manufacturing operations management software market is projected to reach ~US$ 17 Bn by 2027 from ~US$ 8 Bn in 2019. Increased adoption of supervisory control and data acquisition, and advancements in Industrial IoT (IIoT) are the factors projected to create opportunities in the global manufacturing operations management software market.
  • The software segment is anticipated to capture the largest share among the components considered for analyzing the manufacturing operations management software market.
  • North America remains the dominant leader in the global manufacturing operations management software market, with revenue in 2019 estimated to reach ~US$ 2.5 Bn. Factors responsible for this dominance include high investments by regional governments and prominent players across the region toward technological development in the manufacturing industry.
  • In terms of industry, the healthcare and pharmaceuticals segment is expected to dominate the MOM software market with a share of ~19% in 2019, and the segment is expected to continue this dominance in the manufacturing operations management software market during the forecast period.

Manufacturing Operations Management Software Market Definition

  • The report provides an analysis of the global manufacturing operations management software market for the period of 2017–2027, wherein, 2018 is the base year and 2019 to 2027 is the forecast period. Data for 2017 has been included as historical information.
  • In this report, we analyze the growth drivers that enhance the value of the MOM software market, and various opportunities prevailing in the global manufacturing operations management software market.
  • Manufacturing operations management software providers are focused on increasing their R&D investments in order to improve their offerings to serve the specific requirements of end users.

Manufacturing Operations Management Software Market – Snapshot

  • Asia Pacific is one of the fastest growing regions in the manufacturing operations management software market, as this region is witnessing increased adoption of new technologies.
  • Also, manufacturing companies in Asia Pacific are championing the digitization and end-to-end integration of their operations, and introducing digital products and services.
  • These factors are expected to fuel the demand for MOM software to a great extent in the near future.

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