Published on : Dec 07, 2018
ALBANY, New York, Dec 07, 2018: The global market for manufacturing operations management software is expected to witness a strong demand during the forecast period 2018 – 2026, owing to gradual shift from traditional to paperless technology in the manufacturing industry. It has been noted that the manufacturing companies are confronted with challenges in obtaining higher return on assets, improving customer relationship processes, lowering business risk, and increasing manufacturing profitability. In order to handle these types of challenges, manufacturers have started adopting manufacturing operations management software, thus pushing the market to grow. ResearchMoz.us in a report titled, “Manufacturing Operations Management (MOM) Software Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026”, provides a complete overview of the market along with various factors such as drivers, trends, opportunities, and restraints which are likely to impact the market in future.
One of the major drivers that is anticipated to boosts the market is rapid adoption of paperless technology in manufacturing industry. This helps to keep a track and enforce manufacturing production processes. Paperless technology is gaining more popularity in comparison to traditional paper based record as the latter is much more prone to human errors, which likely to slacken the production rate. Apart from the manufacturing operation management software also helps in integrating data from various factory locations or plants, thus allowing manufacturers to take fast and rational decisions. Manufacturers are understanding the benefits associated with digital technology and eliminating paper. Significant rise in environmental concerned population is also known to favor the uptake of manufacturing operations management software, as these software is known to save trees from being transformed into paper.
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The global market is classified on the basis component, enterprise size, industry, functionality, and region. On the basis of component, the market is split into software and professional services. The software segment is further divided into on-premise and cloud-based. On the basis of functionality, the market is segregated into manufacturing execution system, quality process management, labor management, quality process management, and inventory management. Based on size of enterprise, the market is divided into large enterprises and small and medium enterprises. On the basis of industry, the market is segmented into chemical, food and beverages, aerospace and defense, industrial equipment, healthcare and pharmaceuticals, chemical, and automotive.
On the basis of region the market is classified into Europe, North America, Middle East and Africa, and Asia Pacific. Of these, Asia Pacific holds the major share and is predicted to continue dominating the market due to presence of major players in the market and rapid industrialization in the region. However, Europe and North America are likely to contribute a major revenue share during the tenure period. Some of the major players in the market are General Electric Co., Honeywell International Inc., Emerson Process Management, and Invensys plc.
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