New research reveals that Manufacturing Operations Management software (MOM) is a key enabler for digital transformation in manufacturing
February 3rd, 2022, Cambridge, UK – New research from Cambashi, a global leader in research, consulting, and training for engineering and industrial software markets, reveals that Manufacturing Operations Management (MOM) software remains vital for businesses’ digital transformation towards smart manufacturing.
Digital transformation has become a strategic priority for manufacturers across the globe with the goal of fully optimized, digital operations that meet the demands of internal and external supply chains. MOM software tools are rising to this challenge, according to the latest Cambashi MOM Observatory, which assesses market trends, growth by country and industry and competitor performance.
According to Simon Hailstone, Director of Research for Cambashi:
“The Observatory indicates that the worldwide market for MOM systems slowed down slightly in 2020 but resumed growth in 2021 to nearly $7 billion and is forecast to reach $8.4 billion in 2025.”
“Our research shows that MOM is a mature and growing market that has weathered the global pandemic extremely well,” said Alan Griffiths, Lead Analyst at Cambashi. “Manufacturers are increasingly leveraging Industrial Internet of Things (IIoT) technology alongside MOM software to support smart manufacturing, using Cloud/SaaS platforms, smart devices, connectivity, and analytical tools provided by IIoT.”
He added: “There is also significant merger and acquisition (M&A) activity, with established industrial companies moving into the software space for strategic and financial reasons – consistent with the trend towards digital transformation. The global pandemic impact has also shown the importance of Digital Twins and analytics to improve the product design and build phases, with digital simulation being used to minimize prototyping.”