Production operations management (MOM) is a collection of activities that offers a comprehensive solution for total insight into production processes. MOM software aids enterprises in improving the performance of manufacturing processes. MOM is a system that comes after the Manufacturing Execution System (MES). MOM software may unify production processes using MES and MOM system integration to improve advanced planning and scheduling, quality management, R&D management, manufacturing execution systems, and other features.
Manufacturing digitalization has expanded in recent years amidst an industrial revolution related to production facilities. This has resulted in the emergence of Industry 4.0, which has forced firms to choose digitalized solutions for optimal production processes in their facilities. This is a primary aspect that is predicted to fuel market expansion. The Industrial 4.0 revolution was driven by the emergence of new production processes that cooperated with information technology, data mining procedures, and analytics. This shift has compelled top manufacturers to use information technology and operational technologies in novel ways to provide revenue growth prospects.
With the rise of IoT and edge computing, industrial applications have expanded by adding new capabilities to supervisory control and data acquisition (SCADA) platforms. These technologies boost industrial communications and improve a manufacturing plant's efficiency and performance while minimizing downtime, resulting in market expansion potential. Scalable SCADA systems are expected to comply with standards such as the Open Platform Communications Unified Architecture (OPC UA), which aids in manufacturing and platform-independent industrial communications as the volume of machine and process data grows.
Though SCADA systems are changing to keep up with IIoT usage, these systems are critical in factory automation operations. Rather than relying on third-party gateways with Unified Architecture (OPC UA or OPC DA), several SCADA platform vendors gather a broad base of protocol interfaces. Furthermore, the advent of small and medium-sized companies (SMEs) or web-compatible SCADA systems and the spread of augmented reality (AR) technology that integrates process equipment with SCADA automation data is projected to gain popularity in the coming years.
North America is the most significant worldwide manufacturing operations management software market stakeholder, with a CAGR of 7.8% expected during the projection period. It is dominant because multiple significant firms operate from this region, owing to the increased desire among enterprises operating in the area to change the digital data ecosystem. Modern manufacturing in the United States is transitioning toward automated mechanical production. Furthermore, introducing vast technology breakthroughs in manufacturing increases the efficiency of complicated worldwide supply chains, boosting global rivalry among firms. This trend has prompted multinational corporations to spend heavily on logistical networks and manufacturing facilities in the United States and North America.
Europe is expected to grow at a CAGR of 9.3% over the projected period. It offers an untapped digitalization opportunity, one of the primary drivers anticipated to drive worldwide market growth. Digital, additive manufacturing, new materials, and advanced robots are breaking through integration barriers between industry and services, and the European Union is assisting in this transformation with new applications and software tools. The increased necessity for automated production to meet rising end-user expectations is a primary motivator for European companies to embrace innovative technology. This results in increased digital transformation initiatives in this area, projected to boost market growth.
The key players in the global manufacturing operations management software market are ABB Ltd., Aegis Industrial Software Corporation, Aspen Technology, Inc., Critical Manufacturing, Dassault Systems SE, Emerson Electric Co., General Electric Company, Honeywell International, Inc., Plex Systems, and Siemens AG.