The global overall equipment effectiveness software market size is expected to grow from USD 67.5 billion in 2023 to USD 122.4 billion by 2028, at a CAGR of 12.6%.

The increase in the use of ERP software for performing various functions within industries, the need for a connected supply chain and mass production to cater to the rising global population, and the rising adoption of IoT and AI across manufacturing industries globally are the major driving factors for the growth of the overall equipment effectiveness software market.

Moreover, the rise in the integration of manufacturing execution systems with enterprise resource planning and product lifecycle management, as well as rapid developments in wireless sensor networks, are some factors that are also expected to drive the growth of the market in the near future.

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OPPORTUNITY: Rising integration of MES with PLM and ERP solutions

Manufacturing execution systems perform various functions, such as managing products and resources, scheduling, dispatching, collecting data, analyzing performance, and auditing data. For the smooth functioning of these processes and effective results, manufacturing execution systems are integrated with various solutions, such as ERP, supply chain management (SCM), warehouse management system (WMS), decision support system (DSS), business intelligence, e-commerce. For example, the integration of manufacturing execution systems with WMS enables the maintenance of orders that come into the warehouse. To feed the data in the system accurately and promptly, an order management system within the MES solution is used.

CHALLENGE: Growing concerns regarding integration issues of certain OEE software with legacy systems

System complexities and implementation costs are still the major challenges organizations face while integrating these solutions with their existing systems. Due to the lack of resources, only some organizations still rely on existing systems that use old technologies, where manual processes lead to a high error rate and long turnaround time. Moreover, because legacy systems underuse are mostly on-premises, integrating these systems with new cloud-based systems might challenge adopting digital process automation solutions and services.

Key Market Players

The overall equipment effectiveness software companies is dominated by a few globally established players such as Siemens (Germany), Schneider Electric (France), ABB (Switzerland), Emerson Electric, Co. (US), and Rockwell Automation (US).