Manufacturing Operations Management (MOM) software Market

According to a research report "Manufacturing Operations Management (MOM) software Market by Component (Solution and Services), Function (Planning and Scheduling, Quality Process Management, Labour Management, and Others) Organization Size, Vertical (BFSI, Government, Healthcare, IT & Telecom) and Region - Global Forecast to 2027" published by MarketsandMarkets, the global Manufacturing Operations Management (MOM) software Market worth $XX.X billion by 2027 , at a Compound Annual Growth Rate (CAGR) of XX.X% during the forecast period. MOM refers to the tools and methods to optimize production. This comprises managing the organization's operational, technological, and other resources that increase the manufacturer's productivity and efficiency. MOM helps in the management, supervision, and synchronization of the physical processes that are carried out in real-time throughout manufacturing activities which is driving its demand across organizations. MOM help in keeping track of and managing work orders using production scheduling and enterprise-level tools such as ERPs or product lifecycle management (PLM) systems. MOM software can also assist businesses in enhancing operations and products while boosting productivity and revenues, such factors are expected to drive its demand during the forecast period.

In the last few years, the manufacturing sector has gone through a rapid transformation driven by several computerized processes. As a result, the sector needs to be further ready for sudden changes in the supply and demand of the market as well as disruptive innovation. Thus, to further integrate it into different operational domains for business process automation the need for MOM is increasing. It is expected that during the forecast period demand for cloud-based MOM software can increase as it offers businesses scalability, flexibility, and reduced CAPEX on IT.

Moreover, businesses are focused on managing operations by utilizing a variety of digital services, and software solutions for monitoring of their standard operating procedures. In order to avoid technological failures, organizations have been adopting MOM software. In addition to it, MOM is used for linking business systems in corporate offices with information systems used on the factory floor, which eventually results in the progressive abolition of conventional paper-based systems. Another significant factor anticipated to drive the market's growth is the rising requirement for compliance with strict government regulations in the process of manufacturing a product to fulfil all quality requirements, particularly in the healthcare sector. Even though a high initial investment cost can limit market expansion. However, the industry is anticipated to overcome the cost barrier with supportive government initiatives toward smart factories.

North America is one of the early adopters of advanced technologies, therefore it is a mature market in terms of manufacturing operation management adoption. North America is home to multiple manufacturing operation management vendors, such as AspenTech (US), Camstar (US), Emerson (US), Epicor (US), and Oracle (US) among others. North America is expected to dominate the manufacturing operations management software market this is mainly due to the significant investments made by the governments in the area as well as the private sector in the development and adoption of cutting-edge technologies for enhancing manufacturing sector’s efficiency. The manufacturing industry is heavily dominated by nations like China and India. Due to their high levels of demand, these nations have a potential market. According to the U.S. Manufacturing International Perspective, China surpassed the United States as the world's top manufacturer. Such factors are expected to create immense opportunities for manufacturing operations management software in APAC during the forecast period.

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