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Manufacturing Operations Management (MOM) Software Market
Manufacturing Operations Management (MOM) Software Market to reach a value of US$ 17 Bn by 2027, expand at a CAGR of 10% from 2019 to 2027
ALBANY , NY, US, January 14, 2022 /EINPresswire.com / -- According to a new market report pertaining to the global manufacturing operations management software market published by Transparency Market Research the global manufacturing operations management software market is projected to reach a value of US$ 17 Bn by 2027. The MOM software market is projected to expand at a CAGR of 10% from 2019 to 2027. Growth of the market can be attributed to the shift of manufacturing toward digitization. Asia Pacific is anticipated to dominate the manufacturing operations management software market at a CAGR of 11% during the forecast period.
In terms of revenue share, the manufacturing operations management software market is dominated by North America, followed by Europe. In 2019, the software segment is estimated to be valued at US$ 5 Bn in the global manufacturing operations management software market, and see an opportunity of US$ 10 Bn in terms of revenue from 2019 to 2027, reflecting a CAGR of 9% during the forecast period.
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Manufacturing Heading Toward Digital Transformation to Promote MOM Software Market Growth
Today, manufacturing companies use a range of digital services to manage their operations, and more than 70% of the analysis and monitoring of their routine processes takes place using software solutions. The implementation of advanced software-based solutions, such as MOM, is on the rise in order to overcome technical errors. Moreover, MOM plays a vital role in integrating information systems on the shop floor, with business systems in corporate offices, leading to a gradual phasing-out of traditional paper-based systems. The demand for manufacturing operations management software is expected to increase during the forecast period due to these advantages offered by these systems.
MOM Software Market: Regional Outlook
In terms of region, the global manufacturing operations management software market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The MOM software market in Asia Pacific is expected to expand at the highest CAGR during the forecast period. Asia Pacific is one of the fastest growing markets in the global manufacturing operations management software market, as this region is witnessing increased adoption of new technologies. The manufacturing operations management software markets in North America and Europe are also expected to expand rapidly during the forecast period.
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The report provides in-depth segment analysis of the global MOM software market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries that hold growth opportunities or account for significant shares has also been included as part of the geographic analysis of the manufacturing operations management software market.
Manufacturing Operations Management Software Market: Competition Dynamics
The research study includes the profiles of leading companies operating in the global manufacturing operations management software market. Key players profiled in the report include Siemens AG, ABB Ltd., Dassault Systems SA, Emerson Process Management, Honeywell, International Inc., General Electric Co., and Invensys plc.
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Key Growth Drivers of MOM Software Market
Manufacturing heading toward digital transformation - Nowadays, manufacturing companies use various digital services in order to manage their operations. More than 70% of the analysis and monitoring of their routine processes takes place with the help of software solutions. The implementation of advanced software-based solutions such as MOM has been increasing to overcome technical errors. Also, MOM plays an important role in integrating information systems on the shop floor, and business systems in corporate offices, leading to a gradual phasing-out of traditional paper-based systems. Hence, these advantages offered by MOM software are expected to drive demand during the forecast period.
Compliance with stringent government regulations – Highly regulated industries such as medical devices and equipment require rigorous internal and external reporting to comply with strict government regulations. Quality and uniformity are given significant importance in such industries. Manufacturing operations management software has the ability to automate essential regulatory processes to comply with government regulations and meet the requirements of reporting in such industries, which is expected to fuel the growth of the manufacturing operations management software market in the coming years.
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