Press release
Steady Expansion Forecast for Overall Equipment Effectiveness Software Market, Projected to Reach $121.18 Billion by 2029
Overall Equipment Effectiveness Software Market
Overall Equipment Effectiveness Software Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market for overall equipment effectiveness software has seen fast-paced expansion in recent years. The market, which sits at $65.7 billion in 2024, is anticipated to climb to $74.44 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 13.3%. The historic surge can be credited to the enhanced usage of ERP software, the mounting incorporation of IoT and AI in manufacturing sectors, greater acceptance of automation, increased emphasis on boosting productivity and efficiency, and the requirement to boost equipment performance.
Overall Equipment Effectiveness Software Market Size Forecast: What's the Projected Valuation by 2029?
The size of the overall equipment effectiveness software market is anticipated to significantly expand in the upcoming years. The market is poised to reach a valuation of $121.18 billion by 2029, growing at a compound annual growth rate (CAGR) of 13.0%. Factors driving the growth during the forecast period include an increase in the application of industrial automation, enhanced equipment performance, improved productivity, cost reductions, and efficiency optimization, together with the increase of ERP software usage across different sectors, and higher demand for innovative OEE software solutions. Future trends that will define the forecast period involve its integration with other software systems, incorporation of state-of-the-art technologies, the influence of technical progress, quick evolution in OEE software solutions, and the escalating integration of MES with PLM and ERP solutions.
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What Are the Drivers Transforming the Overall Equipment Effectiveness Software Market?
The surge in industrial automation is anticipated to drive the expansion of the overall equipment effectiveness software market in the future. Industrial automation involves the use of control systems like computers or robots, along with information technologies to manage various processes and machinery in an industry, thus replacing human involvement. The adoption of industrial automation comes from the necessity to augment efficiency, cut production costs, improve the quality of products, and boost safety in manufacturing and industrial processes. Overall Equipment Effectiveness (OEE) software is crucial to industrial automation, offering a structure for gauging, scrutinizing, and enhancing the performance of manufacturing equipment. For example, a report unveiled by the International Federation of Robotics - a Germany-based entity for robotics study - in September 2023 showed that there were 553,052 industrial robot installations in factories globally in 2022, signifying a 5% annual growth rate. Hence, the surge in industrial automation is stimulating growth in the overall equipment effectiveness software market.
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What Long-Term Trends Will Define the Future of the Overall Equipment Effectiveness Software Market?
Top companies in the overall equipment effectiveness software market are concentrating on the creation of technologically innovative solutions like cloud computing. This strategy allows them to offer features such as instantaneous data access, distant supervision, and ease of use. Cloud computing is a service that delivers computing solutions over the internet, permitting businesses to utilize software and resources without extensive on-site infrastructure. For instance, in February 2023, FourJaw Manufacturing Analytics, based in the UK, introduced a Next-Generation Machine Monitoring System. This cloud-enabled software includes real-time Overall Equipment Effectiveness (OEE) tracking, which is essential for pinpointing productivity barriers and refining manufacturing processes. The updated system employs plug-and-play hardware for overseeing machine downtime and operational efficacy, giving manufacturers an immediate overview of their factory functions. Notably, the system introduces a built-in messaging feature that streamlines communication between shop floor staff and management, enabling faster issue resolution and cultivating improved team collaboration. Furthermore, the platform prioritizes enhancing machine operators' user experience with revamped workspaces and fresh tablet hardware contributing to better functionality and security.
Which Segments in the Overall Equipment Effectiveness Software Market Offer the Most Profit Potential?
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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Which Firms Dominate the Overall Equipment Effectiveness Software Market by Market Share and Revenue in 2025?
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
Which Regions Offer the Highest Growth Potential in the Overall Equipment Effectiveness Software Market?
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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