Researchmoz, one of the world’s prominent market research firms has announced a novel report on Global Market. This intelligence report provides a comprehensive analysis of the Manufacturing Operations Management (MOM) Software Market. This includes Investigation of past progress, ongoing market scenarios, and future prospects. Data True to market on the products, strategies, and market share of leading companies of this market are mentioned. It’s a 360-degree overview of the global market's competitive landscape. The report further predicts the size and valuation of the global market during the forecast period.
Some of the key players operating in this market include: Emerson, Honeywell International Inc., and General Electric Co
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Digital Transformation of Industries to Drive Adoption of MOM Software
Industry 4.0 - a buzzword across verticals, which has become popular in recent years, fosters what can be considered a 'smart factory'. Smart manufacturing incorporates the use of manufacturing operations management (MOM) systems for managing end-to-end manufacturing processes directly, positively impacting the evolution of the manufacturing operations management software market.
With the introduction of robotic process automation (RPA) on factory floors and business process automation becoming the standard, manufacturing companies across industries have started investing in IT solutions to enhance quality and production capability. This has had a consequent positive influence on the growth of the manufacturing operations management software market. Manufacturing operations management software provides critical support for managing processes that involve end-to-end manufacturing. Based on functionality, MOM software includes inventory management, process and production intelligence, labour management, manufacturing execution systems, quality process management, and more. Of these, MES accounted for the largest share of ~50% by value, and is set to increase at a CAGR of ~9% during the forecast period.
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MOM Software Market: Key Restraints
Cloud security and network transmission issues - MOM software models that rely heavily on-cloud services are susceptible to service impairment or control loss, data leakage, and service loss, including service interruptions, or in worse cases, monetary loss. User experience may also be affected by unstable network transmissions at some places, and this would limit the reach of cloud-based services and hybrid services/solutions in the affected regions. This factor is expected to create a hindrance in the growth of the manufacturing operations management software market during the forecast period.
Key Takeaways of the Report on Manufacturing Operations Management (MOM) Software Market Include:
· What are the some of the new technologies gathering steam?
· What are the some of the value-added offering by top players in the Manufacturing Operations Management (MOM) Software Market?
· Which are some of the new consumer propositions that will define emerging opportunities?
· Which regional markets are expected to gain robust impetus due to favorable government regulations?
· Which political decisions and regulatory policies might mar the opportunities of key segments?
· What are some of the changing rules of international trade that may influence the growth dynamics of the market?
· Which areas have attracted research and development avenues in recent years?
· What are some of the companies entering the Manufacturing Operations Management (MOM) Software Market from other industries that might change the status quo?
· What are the key aspects shaping the competitive landscape?
· Which segments might emerge as outliers due to the impact of Covid-19?
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MOM Software Market- Company Profile Snapshot
Siemens AG: Siemens AG is a technology company that provides solutions in the field of electrification, automation, and digitalization. The company primarily operates through nine business segments: power & gas, energy management, building technologies, mobility, digital factory, process industries & drives, Healthineers, Siemens Gamesa Renewable Energy, and financial services (SFS).
ABB Ltd.: ABB Ltd. is a Swedish multinational corporation primarily engaged in the development of power, robotics, and automating solutions. Under the process automation segment, the company offers manufacturing execution systems and other solutions that are designed to optimize the productivity, energy efficiency, and safety of industrial processes. ABB has operations in over 100 countries around the globe.
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