The global manufacturing operations management software market is expected to post a CAGR of close to 10% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global manufacturing operations management software market size is the need for operational efficiency to improve the quality of the manufacturing process. The demand for high-quality produce from manufacturing facilities across verticals such as automotive, chemical, electronics, and food and beverage is increasing at a rapid pace. The proper supply of materials, efficient allocation of resources, and production capacity are the key criteria for improving the output of manufacturing units. MOM software facilitates proper scheduling and expedites work and processes, which helps organizations to improve operational efficiency and provide timely service to customers. Thus, the need for operational efficiency will boost the demand for MOM software during the forecast period.
As per Technavio, industrial automation with robots will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global manufacturing operations management (MOM) software market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Manufacturing Operations Management (MOM) Software Market: Industrial Automation with Robots
Government bodies across the world are investing heavily in R&D to create an advanced manufacturing sector. In recent years, manufacturers across various industry verticals have been focusing on adopting industrial robotics and automation technologies to improve efficiency. This trend is expected to continue during the forecast period with the development of more novel technologies. This is expected to stimulate the demand for manufacturing operations management software for effective management of operations. Thus, industrial automation with robots will fuel the growth of the MOM software market during the forecast period.
"Apart from increasing industrial automation with robots, other factors such as the implementation of Industrial Internet of Things (IIoT), and the emergence of smart factories will have a significant impact on the manufacturing operations management software market growth during the forecast period," says a senior analyst at Technavio.
Global Manufacturing Operations Management Software Market: Segmentation Analysis
This market research report segments the global manufacturing operations management software market by end-user (automotive, food and beverages, chemical, pharmaceutical, and others), and geographic regions (North America, Europe, APAC, South America, and MEA).
The North American region led the manufacturing operations management software market in 2018, followed by Europe, APAC, South America, and MEA respectively. The growth of the manufacturing operations management software market in North America can be attributed to several factors such as the presence of major vendors, the availability of cloud solution-based technical expertise, and the increasing adoption of cloud solutions and services in the region.
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