Manufacturing Operations Management (MOM) Software is a holistic solution that allows enterprises to manage the creation, development, production, and distribution of goods and services. MOM software records the transformation of raw materials into finished products to document compliance, improve production processes, and enhance logistics transparency.
Using MOM software, enterprises can coordinate seamlessly across different departments and align their efforts toward common goals. The increasing need for real-time tracking and monitoring of manufacturing processes and the rising prevalence of innovative technological tools is driving the growth of the manufacturing operations management software market.
The market for manufacturing operations management software was valued at USD 17.26 billion in 2023 and is anticipated to grow at a CAGR of 12.5%, generating a revenue of USD 49.81 billion by 2032.
Types of Manufacturing Operations Management Software
Depending on the specific requirements, several different types of manufacturing software are available. Some of them include:
Production management software: This is a type of Enterprise Resource Planning (ERP) software used by companies manufacturing their own goods. Production management software helps enterprises track, manage and organize the production of their goods by providing real-time data about jobs, labor, materials, and product shipment.
Performance analysis software: Performance analysis refers to the process of evaluating the functioning and performance of a particular object or scenario. Performance analysis software shows metrics at enterprise, plant, line, and machine levels for situational analysis.
Quality and compliance software: This MOM software type is used to test products and processes. Quality and compliance software helps manufacturers automate document management procedures to meet quality and compliance standards.
Human machine interface software: This form of MOM software allows operators to monitor industrial automation machines and equipment with the help of a graphical user interface.
Benefits Of Using Manufacturing Operations Management Software
There are numerous advantages of using manufacturing operations management software, including:
Improves communication: MOM software ensures that all relevant stakeholders get access to critical information and data. This promotes consistency in communication and helps reduce errors due to duplicated information.
Optimizes workflows: By automating critical manufacturing processes, manufacturing operations management software market key players can remove gaps in supply chain operations, streamline workflows and improve production cycle times. This results in improved work quality and higher customer satisfaction.
Standardizes processes: Automation eliminates the need for guesswork and variations in production processes. Standardizing processes reduces the chances of unplanned downtime and production delays.
Key Statistics Shaping the Market
Adoption of highly digitalized technologies due to the advent of Industry 4.0 has resulted in enhanced manufacturing and operational efficiency. The usage of innovative tools in manufacturing facilities is projected to boost the manufacturing operations management software market demand.
Rising prevalence of real-time data monitoring, which allows for the smooth, efficient, and cost-effective running of operations, is another key factor anticipated to drive the market growth.
Manufacturers’ growing usage of AR and IoTs to improve their accuracy and efficiency is expected to create a favorable environment for the expansion of the market.
Regional Analysis
North America: The North American region accounted for the largest market share in 2022 and is expected to retain its market position in the upcoming years. North America’s dominance in the market can be attributed to the strong presence of leading manufacturers offering quality management, inventory management, advanced planning and scheduling, and manufacturing execution systems, among others. Also, the early adoption of novel technologies introduced by leading companies is another factor driving the growth of the manufacturing operations management software market in the region.
Asia Pacific: Asia Pacific is anticipated to witness the fastest growth rate over the forecast period, owing to the rapid expansion of the industrial sector in developing economies such as China and India. Additionally, rising government support for establishing innovative and smart manufacturing facilities will favorably impact regional market sales.
End Note and Conclusion
With numerous benefits like real-time data monitoring and access to advanced tools and features, solution software has garnered significant traction over the past few years. Manufacturing operations management software market sales are expected to increase as more and more manufacturers incorporate the software solution into their manufacturing facilities.