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Prospect of Overall Equipment Effectiveness (OEE) Software of Improving Efficiency of Shop Floor Equipment Drives Growth

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Published on : Feb 21, 2020

ResearchMoz.us has announced the addition of a report, titled “Global OEE Software Market Size, Status and Forecast 2019-2025”. The report on the global overall equipment effectiveness (OEE) software market provides insights into the market size, key trends shaping the contours of the market, imminent investment pockets and promising avenues for new and incumbent players, and the overall competitive ecosystem. The study takes a closer scrutiny of the prevailing regulatory framework impacting the demand and opportunities in various regions, especially in North America, China, Europe, Japan, India and Central and South America, and Southeast Asia.

The incessant focus on improving the efficiency of shop floor equipment is a key factor that has stimulated manufacturers pin hopes on closed-loop metrics. Overall equipment effectiveness forms a key metric for manufacturers in measuring productivity losses by improving the productivity of manufacturing equipment. World over, a growing number of manufacturers are leveraging the potential of overall equipment effectiveness software to optimize throughput and produce quality parts. This is a notable trend boosting the overall equipment effectiveness software market

OEE software is gathering steam in shop floor across manufacturers due to several benefits that may come with their use. The software helps in eliminating unplanned downtime, help them to be proactive to changing performance effectiveness, reduce waste. In addition, OEE software reduces equipment ROI and helps manufacturers various industry verticals achieve constant quality improvements of products. All this is done by gaining access to real-time shop floor data. Growing demand for plant-wide and enterprise-wide visibility is propelling demands in the OEE software market.

Integration of OEE systems with smart KPIs have made them increasingly responsive to changing conditions at the shop floor. Growing adoption of lean manufacturing programs has helped leverage the potential metrics spewed by overall equipment effectiveness software. 

Various product types of OEE software comprise basic one (approximate pricing is $599-799/User/Month), standard ($799-1199/User/Month), and senior. End users that demand the software fall into three categories: large, medium-size, and small enterprises.

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Some of the key functions of OEE software are in identifying losses and benchmarking progress, apart from improving the footprint of manufacturing equipment. Manufacturers increasingly adopting measures to expand their capacity is also catalyzing demand for OEE software. 

On the regional front, the role of North America and Europe are undeniably significant. A great deal of the growth in the North America overall equipment effectiveness software market is expected to be propelled by the use of OEE metrics in the U.S. This is due to the rapid uptake of new approaches in shop floors by manufacturers in various opportunities. Further, these regions have made vast strides due to the presence of globally prominent providers of overall equipment effectiveness software. Meanwhile, Asia Pacific is expected to reap large revenue gains during the forecast period. China being a global manufacturing hub will fuel the rapid growth of the regional market. Wide scale implementation of OEE in countries including China and India are cementing the high potential of the regional market.

The adoption of cloud-based OEE software has opened a new avenue in the market, especially due to their demands in small and medium-scale businesses. The market is expected to witness an increasing intensity of competition during 2019-2025. Some of the key companies aiming for sizable stakes in the OEE software market are Operator Systems, ABB Enterprise Software, Symbrium, SensrTrx, Redzone, DTL Systems Ltd., MachineMetrics, Evocon, Schneider Electric, OEEsystems International, Sismaq, Lighthouse Systems, Vorne Industries, Rockwell Automation, and UpKeep Technologies.

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