Overall Equipment Efficiency (OEE) Software Market Size, Share, Growth, and Industry Analysis, By Type (On-Premise and Cloud-based), By Application (SME (Small and Medium Enterprises) and Large Enterprise), and Regional Forecast to 2028

Updated On: 22 April 2024

Report Overview

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The global overall equipment efficiency (OEE) software market size expanded rapidly in 2021. As per our research, the market is expected to generate a substantial revenue by 2028, a robust CAGR during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the overall equipment efficiency (OEE) software market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

overall equipment efficiency (OEE) software is a tool used in manufacturing industries to measure and analyse the productivity of equipment and machinery. OEE software provides real-time data on equipment performance and identifies areas for improvement in the manufacturing process.

OEE software typically tracks three key metrics: availability, performance, and quality. Availability refers to the amount of time the equipment is operational and available for production. Performance measures how efficiently the equipment is running, including factors like cycle time and speed. Quality measures the number of defects or errors in the output.

COVID-19 Impact: Pandemic caused global supply disruption which retarded market growth

The COVID-19 pandemic has had several adverse effects on the overall equipment efficiency (OEE) software market. The global supply chain disruptions caused by the pandemic have resulted in longer lead times and increased costs for vendors. Economic uncertainty has led many companies to delay or cancel investments in new technologies like OEE software, which has slowed down the growth of the market and reduced revenues for vendors. Additionally, reduced demand from some industries, such as automotive and aerospace, has further dampened the overall equipment efficiency (OEE) software market growth. Overall, the COVID-19 pandemic has had a negative impact on the market, and it may take some time for the market to recover fully.

Latest Trends

"Increasing demand for real-time monitoring is expected to fuel the growth in the market"

The trend of increasing demand for real-time monitoring in the OEE software market is being driven by the need for manufacturers to optimize their production processes and reduce downtime. Real-time monitoring of manufacturing equipment and processes can help identify bottlenecks and inefficiencies, enabling manufacturers to take corrective action and improve overall equipment efficiency. Real-time monitoring can be achieved through the use of sensors and other monitoring devices that track equipment performance and send data to OEE software in real-time. Overall equipment efficiency (OEE) software can then analyze this data to identify trends and patterns, and provide insights into equipment performance and overall efficiency. In addition, real-time monitoring can help manufacturers make data-driven decisions about scheduling maintenance and repairs, reducing downtime and increasing productivity. By monitoring equipment performance in real-time, manufacturers can identify potential problems before they become major issues, and take proactive steps to address them.

Segmentation

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• By Type Analysis

According to type, the market can be segmented on-premise and cloud-based.

• By Application Analysis

Based on application, the market can be divided into SME (small and medium enterprises) and large enterprise.

Driving Factors

"Growing demand for process optimization to foster the market growth"

One of the factor expected to drive the overall equipment efficiency (OEE) software market growth is the growing demand for process optimization. As competition in the manufacturing industry continues to increase, there is a growing need for manufacturers to reduce costs and improve efficiency. Overall equipment efficiency (OEE) software provides manufacturers with the tools they need to monitor and optimize their equipment and production processes, leading to improved overall efficiency. OEE software can help manufacturers identify bottlenecks, inefficiencies, and other issues that are affecting equipment performance and productivity. By providing real-time monitoring and analysis of equipment data, OEE software can help manufacturers take corrective action quickly, reducing downtime and improving overall efficiency. In addition, OEE software can help manufacturers identify opportunities for improvement by providing insights into equipment performance and production processes. By analysing data from multiple sources, including equipment sensors, production line data, and other sources, overall equipment efficiency (OEE) software can help manufacturers identify trends and patterns that can be used to optimize production processes and improve overall efficiency.

"Increasing demand for cloud-based solutions to result in the expansion of the market"

Another key driving factor in the market is the increasing demand for cloud-based solutions. The adoption of cloud-based solutions is growing in the manufacturing industry due to their scalability, flexibility, and cost-effectiveness. Cloud-based overall equipment efficiency (OEE) software solutions can provide manufacturers with the flexibility they need to scale their operations up or down as needed. This can be particularly important for manufacturers that experience fluctuations in demand or that operate in multiple locations. Cloud-based solutions can also be accessed from anywhere with an internet connection, enabling manufacturers to monitor their equipment and production processes from remote locations.

Restraining Factors

"Integration issues to hamper the market growth"

Overall equipment efficiency (OEE) software must be integrated with existing manufacturing systems and equipment to provide real-time monitoring and analysis. However, the integration process can be complex and time-consuming, particularly for manufacturers that have a large number of legacy systems. The integration of OEE software with existing manufacturing systems and equipment can be challenging due to differences in data formats, communication protocols, and other technical issues. This can result in a complex and time-consuming integration process that can delay the implementation of OEE software. Another challenge in integration is the need to ensure that data is accurate and reliable. OEE software relies on data from sensors, equipment, and other sources to provide real-time monitoring and analysis. However, if the data is inaccurate or unreliable, this can lead to incorrect analysis and insights, which can impact the effectiveness of the OEE software.

Regional Insights

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"North America to lead the market owing to the increasing adoption of OEE software by manufacturers in the region "

Asia-Pacific region is expected to show the highest growth in the market during the forecast period. Asia-Pacific region is expected to experience significant growth due to the increasing adoption of OEE software by manufacturers in the region. The growth of manufacturing industries in countries such as China, India, and Japan is driving the demand for OEE software in the region. The region is also witnessing an increase in the number of small and medium-sized enterprises that are adopting OEE software to improve their manufacturing processes and increase their competitiveness resulting in the expansion of overall equipment efficiency (OEE) software market share.

Key Industry Players

"Key players are employing advanced technologies in order to stimulate further growth of the market."

All the major players are motivated to offer superior and more advanced services in order to gain a competitive edge in the market. To increase their market presence, vendors are using a variety of techniques, including product launches, regional growth, strategic alliances, partnerships, mergers, and acquisitions.

List of Market Players Profiled

• UpKeep Technologies
• Rockwell Automation
• Scout Systems
• Lighthouse Systems
• Evocon
• Schneider Electric
• OEEsystems
• eschbach GmbH
• ABB Enterprise software
• FlexLink Systems
• 5ME
• Symbrium
• MachineMetrics

Report Coverage

This report examines an understanding of the overall equipment efficiency (OEE) software market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.