Global Manufacturing Operations Management (MOM) Software Market
Posted by Ganesh Mane on February 23rd, 2021
Manufacturing Operations Management is an all-round solution, which aims to provide full visibility into the processes of manufacturing, in a way that can steadily improve performance of the operations in manufacturing. Any MOM system combines all the production processes to improve quality management, manufacturing execution systems, planning & scheduling, R & D management, and much more.
Therefore, the Manufacturing Operations Management (MOM) can be said as an art of setting the rules and policies, which are necessary to maintain production value, and also ensure that everything and everyone operates accordingly.Furthermore, it continuously involves the improvement of production, quality control, inventory, quality, and regulatory compliance. The Manufacturing Operations Management (MOM) is usually delivered through applications, such as Manufacturing Execution Systems (MES) that transform the operational processes and information digitally, in order to enable transparency and efficiency in batch management and performance management. Market Scenario: The Global Manufacturing Operations Management (MOM) Software Market was valued at .3 Bn in the year 2019, and is projected to reach $XX Bn by the year 2027, growing at a CAGR of almost 10%during the forecasted period.Market Overview:Drivers: • Increasing need to enhance operational efficiency and quality of products Proper management inany industry would definitely help to provide significant benefits. A rise inthe demand for high-quality products from various industries makes it a necessity for the manufacturing units to work in-line with the regulatory changes. Hence, this rising demand over the improved processing could definitely help in the growth of the market. • Increased adoption of Artificial Intelligence Technology in Manufacturing Segment The manufacturing sector is seen to be on the emergence of adopting the technology.
The integration of AI and digitalization helps to connect all the machines and equipment’s in the working environment, hence enabling them to work in sync. Thus, the rising implementation of Artificial Intelligence is a major factor that could help in driving the market.Restraints:• Security Concerns Privacy and security is the major factor, whenever it comes to technological advancements. As far as the manufacturing operations management is concerned, it, no doubt shares a huge range of data for various operations and also stores the same over the cloud systems or on-premises. In recent years, there have been a huge number of data breaches, which becomes a major setback for this system too.• High Initial Investments The initialization, built–up and installation of any new system always involves huge costs. This factor can definitely hamper the growth of the Manufacturing Operations Management System Market.
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The report for the global virtual client computing market is studied across the 4 major segments:• By Component o Services o Software Based on the component, the software segment is expected to hold a largest market share during the forecasted period. The growing digitalization in the manufacturing sector, specifically applied for optimizing production performance, and improving efficiency, flexibility and time, would be highly responsible for driving the market growth of the software component segment in the market.• By Function o Inventory Management o Labor Management o Manufacturing Execution System (MES) o Process & Production Intelligence o Quality Process Management o Others The process & production intelligence segment helps to consolidate all the information, for further analyzing and processing, which makes it more efficient, when compared with all the other functional segments. This segment is also predicted to gain the highest market share during the forecasted period. The major driving factor for this segment is the application of business intelligence by this segment in the manufacturing industries.
• By Industry
o Automotive o Chemicals o Healthcare o Food & Beverages o Aerospace & Defense o Others
• By Geography
o North America o South America o Asia Pacific o Europe o Middle East & Africa Asia Pacific is expected to be the fastest-growing regional segment in the market, enhancing at a predicted CAGR of almost 12% by the year 2027. The basic reason for the region’s market dominance could be due to the countries like China and India having a strong dominance in the manufacturing sector. Also, the rise in technology-based services and the number of manufacturing facilities in many countries could be responsible for paving the growth of the market in this region, during the forecasted period. Competitive Landscape • The major key players operating in this market include -: o ABB Ltd. o Aegis Industrial Software Corporation o Siemens AG o Emerson Electric Co. o Epicor Software Corporation o General Electric Company o iBASEt o Schneider Electric o Critical Manufacturing o Dassault Systems
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About the AuthorGanesh Mane
Joined: January 27th, 2021
Articles Posted: 125
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