Published Date: 29-Feb-2020
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According to a new report Global Manufacturing Operations Management Software Market, published by KBV Research, The Global Manufacturing Operations Management Software Market size is expected to reach $14.6 billion by 2025, rising at a market growth of 10.2% CAGR during the forecast period. The increasing adoption of automated manufacturing processes is the primary driver of market growth. Supporting government initiatives across the country to support automation and digitalization are driving the adoption of software solutions across the industry. Additionally, the growing adoption of advanced technologies like the Industrial Internet of Thing (IIoT), AI and Big Data solutions is driving market growth.
On the basis of component, the software was the dominant sub-segment. Nevertheless, the services segment is expected to show significant growth in the MOM software industry over the forecast period. The market is driven by the growing acceptance of paperless technology across the manufacturing sector. Paperless technologies refer to the use of digital technology across industry sectors to keep track of the production process and increase operational efficiency. In addition, the advanced software system allows manufacturers to incorporate multiple data points into a single platform to simplify decision-making and improve business agility.
In the industry vertical segment, the automotive industry is one of the major revenue contributors in 2018. The healthcare industry is expected to experience significant growth in the near future, however. The growing implementation of automation throughout the manufacturing organization, serves as a key factor driving demand for the MOM software market. In addition, the increasing need among manufacturers to boost operational efficiency is accelerating the growth of industry. Nevertheless, the associated data security and security issues serve as a significant obstacle in market growth.
North America's market share in the regional market of manufacturing operations management software was dominant in 2018, and this trend is expected to continue during the forecast period as the manufacturing sector contributes with the highest economic growth rate. Furthermore, a growing number of players operating in countries such as the U.S. and Canada are also driving market growth in the region. Industrial evolution has also transformed development in Asia-Pacific GDP and is expected to anticipate high levels of CAGR in the global market in the coming years.
Structural Insights: https://www.kbvresearch.com/manufacturing-operations-management-software-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of ABB Group, Aspen Technology, Inc., Dassault Systemes SE (Dassault Group), Emerson Electric Co., General Electric (GE) Co., Honeywell International, Inc., Siemens AG, Plex Systems, Inc., Aegis Industrial Software Corporation, and Critical Manufacturing S.A.
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