The global overall equipment effectiveness software market size is expected to grow from USD 67.5 billion in 2023 to USD 122.4 billion by 2028, at a CAGR of 12.6%. The rising usage of ERP software for performing a variety of functions across industries and the increase in the number of initiatives to drive the adoption of industrial automation solutions are the major factors driving the market’s growth.
The key players operating in the overall equipment effectiveness software market include the major players that operate in different stages in the entire value chain of overall equipment effectiveness software; these players are Siemens (Germany), Schneider Electric (France), ABB (Switzerland), Emerson Electric, Co. (US), and Rockwell Automation (US). These players have adopted various growth strategies such as product launches and development, acquisition, agreement, and partnership to increase their presence in the global market.
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Siemens is one of the key players in the overall equipment effectiveness software market. It held a significant share of the overall equipment effectiveness software market in 2022. It provides comprehensive MOM applications with a rich ecosystem of industry-specific functionalities developed from deep expertise in manufacturing. The highly scalable MOM platform delivers multiple capabilities and enables customers to combine production efficiency with quality and visibility to reduce time to production. The company offers its OEE software products to various industries. Siemens also emphasizes investing significantly in R&D activities that support innovations in OEE software and solutions and related advancements as it aims to consolidate its position in the overall equipment effectiveness software market.
Schneider Electric also holds a significant share of the market. The company is one of the global providers of automation solutions and connected technologies for the energy industry. Schneider invests in R&D to design innovative products and explore new opportunities in the market to drive growth and profitability. Key factors for its market leadership include a well-positioned product portfolio, a strong brand name internationally, customer retention, and global presence. The company’s strong position in the industrial automation space offers it a competitive advantage and edge over its competitors. Besides, the company offers a diverse range of OEE software and services. The company has a strong focus on collaborations and partnerships to improve its position in the market.
Another critical player in the overall equipment effectiveness software market is ABB. ABB is one of the global providers of power and automation technologies. The company has a vast product portfolio of industrial automation offerings that encompass overall equipment effectiveness (OEE) software, industrial sensors, industrial robots, 3D printing, machine vision, and industrial safety and plant asset management. ABB’s presence in emerging markets, its efforts toward productivity improvement, and streamlined processes have helped the company benchmark its business operations against set industry standards. ABB also invests in R&D to design innovative products and explore new opportunities in the market to drive growth and increase profitability.
Overall Equipment Effectiveness Software Market by Offering (Software, Services), Deployment Mode (On-premises, Cloud), Type (SCADA, Cloud ERP, Predictive Maintenance, Data Historian), Industry (Automotive, Healthcare, Power) - Global Forecast to 2028
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