Wilmington, Delaware, United States, Aug. 11, 2022 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – Leading MOM software providers are keen on bolstering the capabilities in real-time data management for manufacturing companies across industry verticals to enable them manage inventory and labor. The manufacturing operations management (MOM) software market is forecast to expand at CAGR of 10.30% from 2022 to 2031. Need among small companies for obtaining total visibility in production operations is expanding market prospects for top manufacturing operations management (MOM) alternatives & competitors.
Regulated industries are geared toward adopting lean manufacturing technologies. Firms in these industries are particularly hard-pressed to meet highest standards in total productive maintenance (TPM) and total quality management (TQM), anchoring tremendous growth opportunities in MOM in software development.
Customers in these industries are focusing on leveraging MOM to ensure quality from the shop floor to the top floor. Of note, the factor has led to adoption of advanced MES, thereby offering substantial lucrative avenues for MOM software vendors to reach out in the past few years. They are integrating manufacturing execution systems (MES) and ERP in manufacturing operations to improve the revenue and productivity, and eventually the bottom-lines.
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Key Manufacturing Operations Management (MOM) Software Market Study
- Cutting-edge MES and ERP Solutions in Smart Manufacturing Create Vast Profitable Avenue: Need for adopting advanced MES and growing penetration of ERP systems in smart factory create tremendous growth opportunities for players in the manufacturing operations management (MOM) software market. Cutting-edge solutions are gaining traction for smart manufacturing in a bid to gain complete visibility across production processes. Rapid pace of robotic process automation (RPA) in manufacturing industry underpins colossal opportunities.
- Implementation of SCADA Systems for Inventory Management Reinforces Revenue Streams: Integration of MOM software with manufacturing execution systems (MES) helps customers manage production processes. Increasing trend of industrial automation in production & operations management system for manufacturing is spurring the adoption of cutting-edge industrial control systems. Increased implementation of SCADA (supervisory control and data acquisition) systems has generated incredible prospect for solution providers in the manufacturing operations management (MOM) software market.
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Manufacturing Operations Management (MOM) Software Market: Key Drivers
- Digitalization of manufacturing processes is a key robust force in shaping the prospects of the manufacturing operations management (MOM) software market. Ever-rising need for improving production environment with aims to enhance agility and flexibility of businesses will drive the demand for MOM across industry verticals.
- Implementation of robotic process automation (RPA) in manufacturing processes will extend the horizon for commercialization of products in the manufacturing operations management (MOM) software market.
Manufacturing Operations Management (MOM) Software Market: Regional Growth Dynamics
- North America is estimated to hold a major share of the manufacturing operations management (MOM) software market by 2022-end. Constant product advancements and rapid pace of adoption across various end-use industries have spurred the revenue streams. Moreover, governments in the region have stepped up support for automation in manufacturing processes, thereby enriching the market prospects.
- Asia Pacific has emerged as a remarkably lucrative market. Increased adoption of lean manufacturing concepts in industry verticals, emphasis toward automation operations management through ERP, and focus on total quality management are trends propelling revenue expansion. High rate of adoption of products in Singapore, China, Japan, and India is steering the Asia Pacific market growth.
Manufacturing Operations Management (MOM) Software Market: Key Players
Some of the prominent companies in the market are Dassault Systèmes, Critical Manufacturing S.A., Epicor, iBASEt, AVEVA Group plc, Dassault Systèmes, Emerson Electric Co., SAP SE, ABB Ltd (ABB Ability), Rockwell Automation Inc. (Plex), Siemens Aktiengesellschaft, and GE Digital.
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Manufacturing Operations Management (MOM) Software Market Segmentation
- Inventory Management
- Labor Management
- Process and Product Intelligence
- Quality Process Management
- Others (Planning, Scheduling & Dispatching)
- Enterprise Size
- Large Enterprises
- Healthcare and Pharmaceuticals
- Food & Beverages
- Consumer Goods
- Aerospace & Defense
- Industrial Equipment
- Others (Oil and Gas, Metal and Mining)
- North America
- Asia Pacific
- Middle East & Africa
- South America
- Russia & CIS
- South Africa
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