Introduction

Manufacturing operations management (MOM) software is a useful tool for improving the efficiency of the production process through optimising production schedules, reducing production costs and improving productivity. How does this type of software work? The basic premise is that the fact that it brings together information about the entire production process in one place means that this process is better informed and more streamlined, and the company, as a result, can make better decisions.

This blog will examine the current MOM software market, the trends in the market and what the future holds for this crucial industry.

Market Overview

The world manufacturing operations management software Market has been segmented based on product type (on-premises, cloud-based), based on deployment (small, medium, and large enterprises), Geographically, the world production operations management software market has been analyzed across five different regions, namely North America, Europe, Asia Pacific, Latin America, and Middle East  Africa.

The rise of manufacturing operations management (MOM) software globally can be attributed to factors such as the complexity of manufacturing, the need for efficiency and productivity and digitalisation.

Market Size and CAGR

This market size was valued at xx USD in the year 2021, and it is estimated to grow at a CAGR of [yy%] from 2021 to 2031.

Key Market Trends

IoT (Internet of Things) integration: collects full-time data, predictive maintenance of equipment, and enhances the visibility of the process data.

Artificial Intelligence (AI) and Machine Learning: AI and ML algorithms are used for optimising production schedules, prediction of equipment failure, and quality control processes.

Furthermore, MOM is being implemented in the cloud, which is a much more scalable, flexible, and cost-effective way of reducing IT infrastructure.

Digital Twin Technology: Simulated and optimised processes before, during, and after manufacturing using virtual representations of physical assets.

Market Drivers and Challenges

Drivers:

Increasing complexity of manufacturing processes

Need for improved efficiency and productivity

Growing adoption of digital technologies

Rising demand for quality and customization

Challenges: