The overall equipment effectiveness software global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Overall Equipment Effectiveness Software Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The overall equipment effectiveness software market size has grown rapidly in recent years. It will grow from $58.28 billion in 2023 to $65.70 billion in 2024 at a compound annual growth rate (CAGR) of 12.7%. The growth in the historic period can be attributed to increase in the use of ERP software, the rising adoption of IoT and AI across manufacturing industries, increasing adoption of automation, the growing focus on productivity and efficiency improvement, and need to increase equipment performance.
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.
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Scope Of Overall Equipment Effectiveness Software Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Overall Equipment Effectiveness Software Market Overview
Market Drivers –
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.
Market Trends –
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 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
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Regional Insights –
Asia-Pacific was the largest region in the overall equipment effectiveness software market in 2023. 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.
Key Companies –
Major companies operating in the overall equipment effectiveness software market are Microsoft Corporation, Siemens Aktiengesellschaft, 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
Table of Contents
1. Executive Summary
2. Overall Equipment Effectiveness Software Market characterstics
3. Overall Equipment Effectiveness Software Market Trends And Strategies
4. Overall Equipment Effectiveness Software Market – Macro Economic Scenario
5. Global Overall Equipment Effectiveness Software Market Size And Growth
…..
32. Global Overall Equipment Effectiveness Software Market Competitive Benchmarking
33. Global Overall Equipment Effectiveness Software Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Overall Equipment Effectiveness Software Market
35. Overall Equipment Effectiveness Software Market Future Outlook and Potential Analysis
36. Appendix
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