Global Overall Equipment Effectiveness Software Market Strategies 2024, Forecast To 2033
10 Sep, 2024
The overall equipment effectiveness software market has expanded significantly in recent years, growing from $58.28 billion in 2023 to $65.70 billion in 2024, with a compound annual growth rate (CAGR) of 12.7%. This historic growth can be attributed to the increased use of ERP software, rising adoption of IoT and AI across manufacturing industries, heightened focus on automation, and the drive to enhance productivity, efficiency, and equipment performance. The market is projected to continue its rapid expansion, reaching $107.28 billion by 2028, with a CAGR of 13.0%. This anticipated growth is driven by the increasing use of industrial automation, efforts to improve equipment performance, enhance output, reduce costs, and boost efficiency, along with growing demand for advanced OEE software solutions. Key trends in the forecast period include integration with other software systems, the adoption of cutting-edge technology, impacts of technological advancements, rapid development in OEE software solutions, and the rising integration of MES with PLM and ERP systems.
Global Overall Equipment Effectiveness Software Market Key Driver
The increase in industrial automation is expected to drive the overall equipment effectiveness software market. Industrial automation involves using control systems, such as computers or robots, to manage various processes and machinery, reducing the need for human intervention. The adoption of automation is driven by the need to enhance efficiency, lower production costs, improve product quality, and boost safety in manufacturing processes. Overall Equipment Effectiveness (OEE) software plays a key role in this automation, providing a framework to measure, analyze, and improve manufacturing equipment performance. For instance, in September 2023, the International Federation of Robotics reported 553,052 industrial robot installations worldwide in 2022, reflecting a 5% year-on-year growth rate. This increase in industrial automation is driving the growth of the overall equipment effectiveness software market.
Get A Free Sample Of The Overall Equipment Effectiveness Software Market ReportGlobal Overall Equipment Effectiveness Software Market Segments
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
By Geography:The regions covered in the overall equipment effectiveness software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the overall equipment effectiveness software market in 2023.
Major Overall Equipment Effectiveness Software Industry Players
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
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Overall Equipment Effectiveness Software Market Overview
Overall equipment effectiveness (OEE) software is a digital tool used to measure and improve the efficiency and productivity of manufacturing equipment. This software helps manufacturers track and analyze various aspects of equipment performance to identify areas for improvement and optimize production processes.
Overall Equipment Effectiveness Software Global Market Report 2023 provides data on the global overall equipment effectiveness software market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The overall equipment effectiveness software market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.