The Overall Equipment Effectiveness Software Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Overall Equipment Effectiveness Software Global Market Report 2024, The overall equipment effectiveness software market size is expected to see rapid growth in the next few years. It will grow to $107.28 billion in 2028 at a compound annual growth rate (CAGR) of 13.0%. The growth in the forecast period can be attributed to growth of the usage of industrial automation, increase equipment performance, improve output, cut costs, and boost efficiency, growing use of ERP software for performing several functions across various sectors, growing demand for advanced OEE software solutions. Major trends in the forecast period include integration with other software systems, use of cutting-edge technology, impact of technological advancements, rapid technological advancements in OEE software solutions, and rising integration of MES with PLM and ERP solutions.
The increase in industrial automation is expected to propel the growth of the overall equipment effectiveness software market going forward. Industrial automation refers to using control systems, such as computers or robots, and information technologies to handle different processes and machinery in an industry and replace human intervention. The adoption of industrial automation is due to the need to increase efficiency, reduce production costs, improve product quality, and enhance safety in manufacturing and industrial processes. Overall Equipment Effectiveness (OEE) software is integral to industrial automation, providing a framework for measuring, analyzing, and improving manufacturing equipment performance. For instance, in September 2023, according to the report published by the International Federation of Robotics, a Germany-based organization for robotics research, in 2022, there were 553,052 industrial robot installations in factories worldwide, marking a 5% year-on-year growth rate. Therefore, the increase in industrial automation is driving growth in the overall equipment effectiveness software market.
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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
Major companies operating in the overall equipment effectiveness software market focus on technological advancements, such as IoT-based overall equipment effectiveness (OEE) applications, to enhance operational efficiency in industrial settings. IoT-based Overall Equipment Effectiveness (OEE) applications leverage the Internet of Things (IoT) technology to enhance the monitoring, analysis, and optimization of manufacturing equipment performance. These applications integrate IoT sensors and devices with OEE software to provide real-time data and advanced analytics, enabling manufacturers to improve efficiency, reduce downtime, and enhance overall productivity. For instance, in September 2021, Software AG, a Germany-based software company, launched the Cumulocity IoT OEE app. It is a new application designed to automate overall equipment effectiveness (OEE) calculations within its Cumulocity IoT platform. This innovation enables manufacturers of any size to efficiently capture and analyze real-time data, swiftly assessing production efficiency. By monitoring production line availability, performance, and quality, organizations can proactively address inefficiencies and leverage opportunities to optimize their operations effectively.
The overall equipment effectiveness software market report table of contents includes:
1. Executive Summary
- Overall Equipment Effectiveness Software Market Characteristics
- Overall Equipment Effectiveness Software Market Trends And Strategies
- Overall Equipment Effectiveness Software Market – Macro Economic Scenario
- Global Overall Equipment Effectiveness Software Market Size and Growth
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32. Global Overall Equipment Effectiveness Software Market Competitive Benchmarking
- Global Overall Equipment Effectiveness Software Market Competitive Dashboard
- Key Mergers And Acquisitions In The Overall Equipment Effectiveness Software Market
- Overall Equipment Effectiveness Software Market Future Outlook and Potential Analysis
- Appendix
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