Press release
Major Market Shift in Overall Equipment Effectiveness Software Industry: Upgrades In User Experience For Manufacturing Platforms
Overall Equipment Effectiveness Software Analysis
The market for overall equipment effectiveness software has seen substantial expansion in the past few years. It is predicted to increase from $65.7 billion in 2024 to $74.44 billion in 2025, reaching a compound annual growth rate (CAGR) of 13.3%. This significant growth during the historical period can be traced back to the expanded use of ERP software, growing integration of IoT and AI amongst manufacturing sectors, the escalating implementation of automation, an increased concentration on improving productivity and efficiency, and the essential need to enhance equipment performance.
The market for overall equipment effectiveness software is projected to experience swift expansion in the coming years. It is expected to escalate to $121.18 billion by 2029, boasting a compound annual growth rate (CAGR) of 13.0%. The said growth during the forecast period can be traced back to factors such as the escalating usage of industrial automation, elevation in equipment performance, enhancement in output, reduction in costs, and surge in efficiency; the increasing application of ERP software across diverse sectors, and the rising demand for cutting-edge OEE software solutions. Prevailing trends during the forecast period consist of integration with various software systems, the utilization of advanced technology, the influence of technological progressions, the swift technological advancements witnessed in OEE software solutions, and the burgeoning integration of MES with PLM and ERP solutions.
What Are the Primary Growth Drivers for the Overall Equipment Effectiveness Software Market?
The rise in industrial automation is poised to boost the expansion of the overall equipment effectiveness software market. Industrial automation involves the utilization of control systems like computers or robots, alongside information technologies, to manage various processes and machinery in an industrial setting, thereby reducing human intervention. The embrace of industrial automation aims to augment efficiency, lower production expenses, enhance product quality, and boost safety in manufacturing and industrial procedures. The Overall Equipment Effectiveness (OEE) software plays a crucial role in industrial automation by offering a structure for gauging, scrutinizing, and enhancing manufacturing equipment performance. As an example, a report published by the International Federation of Robotics, a German organization dedicated to robotics research, stated in September 2023, that there were 553,052 installations of industrial robots in factories across the globe in 2022, indicating a year-on-year growth rate of 5%. As such, the rise in industrial automation is a catalyst for the growth in the overall equipment effectiveness software market.
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Which Businesses Are at the Forefront of Overall Equipment Effectiveness Software Market Development?
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 Are the Latest Innovations in the Overall Equipment Effectiveness Software Market?
Key players in the total equipment effectiveness software market are concentrating on creating solutions enhanced with advanced technology such as cloud computing. This allows immediate access to data, remote monitoring, and ease of use. Cloud computing provides computing services online, allowing businesses to utilize software and resources without the need for extensive in-house infrastructure. For example, FourJaw Manufacturing Analytics, a manufacturing firm from the UK, released the Next Generation Machine Monitoring System in February 2023. This cloud-based application entails real-time tracking of Overall Equipment Effectiveness (OEE), a critical factor for identifying and resolving productivity issues and enhancing industrial processes. The novel system employs plug-and-play hardware to oversee machine downtime and operational efficiency, offering instant insights into industrial operations. A notable improvement is the inbuilt messaging feature that enables direct interaction between the factory staff and administrators. It promotes prompt response to operational complications and encourages improved collaboration. The platform emphasizes a better user experience for machine operators by revamping workspaces and introducing new tablet hardware, thereby increasing both functionality and safety.
How Is the Overall Equipment Effectiveness Software Market Segmented?
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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Where Is the Overall Equipment Effectiveness Software Market Growth Most Prominent?
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.
What Is Covered In The Overall Equipment Effectiveness Software Global Market Report?
- Market Size Analysis: Analyze the Overall Equipment Effectiveness Software Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Overall Equipment Effectiveness Software Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Overall Equipment Effectiveness Software Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Overall Equipment Effectiveness Software Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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