How Will the Overall Equipment Effectiveness Software Market Grow? Key Trends and Opportunities for 2025 and Beyond
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How has the overall equipment effectiveness software market grown over the years?
In recent years, the market size of overall equipment effectiveness (OEE) software has expanded quite dramatically. This market is expected to swell from $65.7 billion in 2024 to $74.44 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 13.3%. The past growth can be credited to factors such as the augmented use of ERP software, the climbing adoption of the Internet of Things (IoT) and Artificial Intelligence (AI) within manufacturing sectors, rising implementation of automation, an emphasis on enhancing productivity and efficiency, and a requirement to improve equipment performance.
What Is the forecasted market size and growth rate for the overall equipment effectiveness software market?
Anticipated to experience swift expansion in the coming years, the overall equipment effectiveness software market is predicted to reach $121.18 billion in 2029, boasting a compound annual growth rate (CAGR) of 13.0%. This market growth during the forecast period is fuelled by factors including an increased application of industrial automation, rising equipment performance, enhanced output, reduced costs and improved efficiency, as well as the escalating use of ERP software for executing multifaceted functions across diverse sectors, coupled with the increasing demand for state-of-the-art OEE software solutions. Predominant trends forecasted for this period involve the amalgamation with other software systems, the utilization of advanced technology, the effects of technological evolution, rapid advancement in OEE software solutions, and the growing incorporation of MES with PLM and ERP frameworks.
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What are the major factors driving growth in the overall equipment effectiveness software market?
The expansion of the overall equipment effectiveness software market is likely to be fueled by a surge in industrial automation. This involves the use of control systems like computers or robots, and technologies to manage various processes and machinery in industries, thereby supplanting human participation. The transition towards industrial automation is driven by the desire to enhance efficiency, reduce manufacturing costs, improve the quality of products, and boost safety during manufacturing and industrial operations. Overall Equipment Effectiveness (OEE) software plays a crucial role in this scenario, offering a structure for gauging, analyzing, and improving the performance of manufacturing equipment. For instance, as per the International Federation of Robotics, a Germany-based robotics research entity, in 2022, the worldwide installations of industrial robots in factories reached 553,052, indicating a growth rate of 5% year-on-year. Consequently, the rising utilization of industrial automation is promoting the growth of the overall equipment effectiveness software market.
What key areas define the segmentation of the global overall equipment effectiveness software Market?
The overall equipment effectiveness software market covered in this report is segmented –
1) By Type: Supervisory Control And Data Acquisition (SCADA), Manufacturing Execution System (MES), Cloud Enterprise Resource Planning (ERP), Predictive Maintenance, Data Historian
2) By Overall Equipment Effectiveness Software Methods: Availability Calculation, Performance Calculation, Quality Calculation, Real-Time Monitoring, Root Cause Analysis, Predictive Analytics
3) By Offering: Software, Services
4) By Deployment Mode: On-Premises, Cloud
5) By Industry: Aerospace And Defense, Automotive, Chemical, Food And Beverage, Healthcare, Metal And Mining, Oil And Gas, Power, Electronics And Semiconductor, Other Industries
Subsegments:
1) By Supervisory Control and Data Acquisition (SCADA): Real-Time Data Monitoring SCADA, Remote Monitoring SCADA, Integrated SCADA Systems
2) By Manufacturing Execution System (MES): Discrete Manufacturing MES, Process Manufacturing MES, Batch Manufacturing MES
3) By Cloud Enterprise Resource Planning (ERP): Cloud-Based ERP for Manufacturing, Cloud-Based ERP for Supply Chain Management, Cloud-Based ERP for Financial Management
4) By Predictive Maintenance: Condition Monitoring Tools, Vibration Monitoring Systems, AI-Based Predictive Maintenance Solutions
5) By Data Historian: On-Premise Data Historian, Cloud-Based Data Historian, Real-Time Data Collection Systems
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What are the top market players propelling the growth of the overall equipment effectiveness software industry?
Major companies operating in the overall equipment effectiveness software market are Microsoft Corporation, Siemens AG, Lockheed Martin Corporation, General Electric Company, International Business Machines Corporation, Schneider Electric SE, Honeywell International Inc., ABB Ltd., Emerson Electric Co., Rockwell Automation Inc., Dassault Systèmes SE, Workday Inc., Infor Inc., Engineering Industries Excellence, UiPath Inc., Redzone, Evocon OÜ, OEEsystems International, Parsec Automation Corp., Raven Telemetry., Informance International
What key trends are currently impacting the overall equipment effectiveness software market’s development?
Top-tier firms involved in the total equipment effectiveness software market are concentrating on crafting cutting-edge solutions, including cloud computing, for instantaneous access to data, remote observance, and ease of use. The term cloud computing is used to describe the provision of computing services via the internet, which allows companies to utilize software and resources without having to establish a vast on-site infrastructure. For instance, FourJaw Manufacturing Analytics, a UK manufacturing firm, unveiled their Next Generation Machine Monitoring System in February 2023. This cloud-based software integrates real-time Overall Equipment Effectiveness (OEE) monitoring, an essential tool for pinpointing productivity slowdowns and enhancing manufacturing methodologies. This novel system employs plug-and-play hardware to keep tabs on machine inactivity and operational effectiveness, granting manufacturers instant understanding of their factory operations. A notable improvement is the inclusion of an inbuilt messaging feature that promotes direct contact between factory operatives and management, leading to quicker problem-solving and fostering improved collaboration. Additionally, the platform concentrates on enhancing the user experience for machine operators by overhauling workspaces and introducing new tablet hardware, which bolsters both functionality and security.
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What regions are dominating the overall equipment effectiveness software market growth?
Asia-Pacific was the largest region in the overall equipment effectiveness software market in 2024. The regions covered in the overall equipment effectiveness software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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