Overall Equipment Effectiveness Software Market Research Report: By Deployment Model (Cloud, On-premise), By Organization Size (Small and Medium-sized Enterprises (SMEs), Large Enterprises), By Industry (Manufacturing, Healthcare, Energy, Transportation, Retail), By Functionality (Data Acquisition and Analysis, Real-time Monitoring, Predictive Maintenance, Performance Management), By Pricing Model (Subscription-based, Perpetual License) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast

Overall Equipment Effectiveness Software Market Overview

Overall Equipment Effectiveness Software Market Size was estimated at 3.45 (USD Billion) in 2022. The Overall Equipment Effectiveness Software Market Industry is expected to grow from 3.74(USD Billion) in 2023 to 7.8 (USD Billion) by 2032. The Overall Equipment Effectiveness Software Market CAGR (growth rate) is expected to be around 8.5% during the forecast period (2024 - 2032).

Key Overall Equipment Effectiveness Software Market Trends Highlighted

Key market drivers for Overall Equipment Effectiveness (OEE) software include the rising need for production optimization, increasing adoption of Industry 4.0 technologies, and growing awareness of the benefits of predictive maintenance. Opportunities lie in the integration of OEE software with other enterprise applications, such as Manufacturing Execution Systems (MES) and Enterprise Resource Planning (ERP) systems, to provide a holistic view of manufacturing operations.

Recent trends in the OEE software market include the adoption of cloud-based solutions for increased accessibility and flexibility, the use of artificial intelligence (AI) and machine learning (ML) to enhance data analysis and predictive maintenance capabilities, and the growing popularity of subscription-based pricing models. OEE software vendors are also focusing on providing industry-specific solutions to cater to the unique requirements of different manufacturing sectors.

The market is expected to witness significant growth in the coming years due to the increasing demand for improved production efficiency and the adoption of automation and digital transformation strategies. As manufacturing organizations strive to enhance their competitiveness and meet customer demands, the adoption of OEE software is poised to play a crucial role in optimizing production processes and maximizing equipment utilization.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Overall Equipment Effectiveness Software Market Drivers

Increased Demand for Improved Production Efficiency

The Overall Equipment Effectiveness Software Market Industry is witnessing a surge in demand for solutions that optimize production processes and enhance overall equipment effectiveness (OEE). Manufacturers across various industries are recognizing the need to minimize downtime, reduce waste, and maximize asset utilization to remain competitive in today's dynamic business environment. Overall Equipment Effectiveness (OEE) software provides real-time visibility into equipment performance, allowing organizations to identify and address inefficiencies promptly.

By leveraging advanced analytics and machine learning algorithms, these solutions help businesses optimize production schedules, improve maintenance strategies, and minimize unplanned downtime. As a result, the adoption of OEE software is becoming increasingly prevalent across industries, driving the growth of the Overall Equipment Effectiveness Software Market.

Growing Adoption of Industrial IoT and Automation

The Overall Equipment Effectiveness Software Market Industry is harnessing the power of Industrial IoT and automation to transform the manufacturing industry and its opportunities. IIoT sensors and devices are integrated with the OEE software to gather and analyze data in real-time. This data provides insights into how efficiently a manufacturing process runs and how the equipment performs and is produced. With the utilization of IIoT data, organizations may automate the maintenance process, anticipate failures, and adjust production schedules in real-time. In a nutshell, IIoT and automation allow OEE software to become more innovative and interactive than before.

Government Initiatives and Regulations

Governments worldwide are increasingly recognizing the importance of manufacturing efficiency and sustainability, leading to the implementation of initiatives and regulations that promote the adoption of OEE software. These initiatives aim to reduce energy consumption, minimize waste, and enhance overall environmental performance within the manufacturing sector. By providing incentives and tax benefits for businesses that invest in OEE solutions, governments are encouraging manufacturers to embrace digital transformation and improve their overall equipment effectiveness. This supportive regulatory environment is expected to drive the growth of the Overall Equipment Effectiveness Software Market in the coming years.

Overall Equipment Effectiveness Software Market Segment Insights

Overall Equipment Effectiveness Software Market Deployment Model Insights  

The deployment model segment of the Overall Equipment Effectiveness Software Market can be divided into cloud and on-premise. In 2023, the cloud segment held the larger market share, and it is expected to continue to grow at a faster rate during the forecast period. This growth is attributed to the increasing adoption of cloud-based solutions by businesses of all sizes. Cloud-based Overall Equipment Effectiveness (OEE) software offers several advantages over on-premise solutions, such as scalability, flexibility, and cost-effectiveness.

The on-premise segment is also expected to grow during the forecast period but at a slower rate than the cloud segment.This growth is attributed to the continued presence of legacy systems in many businesses. The growth of the market is attributed to the increasing adoption of OEE software by businesses of all sizes. OEE software can help businesses to improve their productivity, efficiency, and profitability. Some of the key players in the Overall Equipment Effectiveness Software Market include SAP SE, Oracle Corporation, IBM Corporation, Siemens AG, and Schneider Electric SE.

These companies offer a wide range of OEE software solutions that can be customized to meet the specific needs of businesses.The Overall Equipment Effectiveness Software Market is a competitive market with a large number of players. However, the market is expected to remain fragmented during the forecast period. The key players in the market are expected to continue to invest in research and development to improve their offerings and gain market share.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Overall Equipment Effectiveness Software Market Organization Size Insights  

The Global Overall Equipment Effectiveness  Software Market is segmented by organization size into small and medium-sized enterprises and large enterprises. In 2023, large enterprises held a greater market size, and they are expected to continue their dominance in the market throughout the forecast period. This is mainly because the number of large enterprises adopting Overall Equipment Effectiveness  OEE software is growing year by year onwards to improve their operational efficiency and productivity.

At the same time, OEE software will also be able to create the growth of small and medium-sized enterprises during the forecast period.They are adopting it because it helps in growing business and achieving higher profitability. The expanding market for OEE represents that there will be an enormous opportunity in the future. Currently, the size of the market shows that it will reach 3.74 USD Billion at the end of 2023.

Overall Equipment Effectiveness Software Market Industry Insights    

The Overall Equipment Effectiveness Software Market segmentation by Industry includes Manufacturing, Healthcare, Energy, Transportation, and Retail. The Manufacturing segment held the largest share of the market in 2023 and is expected to continue to dominate the market throughout the forecast period. The growth of the Manufacturing segment can be attributed to the increasing adoption of Overall Equipment Effectiveness (OEE) software solutions by manufacturing companies to improve operational efficiency and reduce costs.

The Healthcare segment is expected to witness significant growth over the forecast period due to the rising demand for OEE software solutions in hospitals and other healthcare facilities to improve patient care and reduce costs. The Energy segment is also expected to witness steady growth, driven by the increasing adoption of OEE software solutions by energy companies to improve the efficiency of their operations and reduce costs.

The Transportation segment is expected to witness moderate growth over the forecast period due to the increasing adoption of OEE software solutions by transportation companies to improve the efficiency of their operations and reduce costs. The Retail segment is expected to witness slow growth over the forecast period due to the relatively low adoption of OEE software solutions by retail companies.

Overall Equipment Effectiveness Software Market Functionality Insights  

The Functionality segment is a crucial aspect of the Overall Equipment Effectiveness Software Market, offering a wide range of solutions to enhance equipment performance and productivity. Data Acquisition and Analysis tools enable real-time data collection and analysis, providing valuable insights into equipment health and performance. Real-time Monitoring systems allow for continuous monitoring of equipment parameters, enabling proactive maintenance and reducing downtime. Predictive Maintenance solutions leverage advanced algorithms to predict potential equipment failures, optimize maintenance schedules and minimize unplanned outages.

Performance Management tools provide comprehensive dashboards and reports, enabling users to track key performance indicators (KPIs) and identify areas for improvement. The Overall Equipment Effectiveness Software Market for Functionality is projected to grow significantly, with a market size of USD 1.2 billion in 2023 and an estimated valuation of USD 2.5 billion by 2032, exhibiting a CAGR of 9.5%. Market players in this segment include IBM, SAP, Siemens, and ABB, among others, offering customized solutions to meet the specific needs of various industries.

Overall Equipment Effectiveness Software Market Pricing Model Insights  

The Overall Equipment Effectiveness Software Market is segmented based on the Pricing Model into Subscription-based and Perpetual Licenses. In 2023, the subscription-based pricing model dominated the market, accounting for nearly 65% of the Overall Equipment Effectiveness Software Market revenue. The subscription-based model offers several advantages to customers, including lower upfront costs, flexibility in terms of scaling up or down, and access to regular updates and new features.

The perpetual license model, on the other hand, requires a one-time upfront payment for the software license, after which the customer has perpetual access to the software without paying any additional fees.The perpetual license model is preferred by customers who require long-term use of the software and do not want to be tied to ongoing subscription fees. The market for both subscription-based and perpetual license models is expected to grow steadily in the coming years, driven by the increasing adoption of Overall Equipment Effectiveness (OEE) software solutions across various industries.

Overall Equipment Effectiveness Software Market Regional Insights  

The Overall Equipment Effectiveness Software Market is segmented into North America, Europe, APAC, South America, and MEA. North America is the largest regional segment, accounting for over 40% of the market in 2023. The region is home to a large number of manufacturing facilities and is expected to continue to be the largest market for overall equipment effectiveness software over the forecast period. Europe is the second largest regional segment, accounting for over 30% of the market in 2023. The region has a strong manufacturing base and is expected to see continued growth in the adoption of overall equipment effectiveness software.

APAC is the fastest-growing regional segment, with a CAGR of over 10% over the forecast period. The region is home to a number of emerging economies with rapidly growing manufacturing sectors. South America and MEA are relatively small regional segments, accounting for less than 10% of the market in 2023. However, both regions are expected to see significant growth over the forecast period.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Overall Equipment Effectiveness Software Market Key Players And Competitive Insights

Major players in the Overall Equipment Effectiveness Software Market are constantly striving to enhance their offerings and gain a competitive edge. They are focusing on research and development to introduce innovative solutions that meet the evolving needs of customers. Strategic partnerships and collaborations are also prevalent, enabling companies to expand their market reach and access new technologies and expertise.

Leading Overall Equipment Effectiveness Software Market players are investing in cloud-based solutions to provide increased flexibility, scalability, and cost-effectiveness. Additionally, there is a growing trend towards the integration of artificial intelligence (AI) and machine learning (ML) capabilities to automate tasks, improve decision-making, and enhance overall equipment effectiveness (OEE).AVEVA, a leading player in the Overall Equipment Effectiveness Software Market, provides a comprehensive suite of solutions that help organizations optimize their production processes. Its flagship product, the AVEVA PI System, is a data management platform that collects and analyzes data from various sources to provide real-time insights into equipment performance.

AVEVA also offers a range of other solutions, such as AVEVA Insight and AVEVA EAM, which provide predictive maintenance, asset management, and performance monitoring capabilities. The company has a strong global presence and serves customers across a wide range of industries, including oil and gas, power generation, and manufacturing.Another prominent player in the Overall Equipment Effectiveness Software Market is SAP SE.

The company offers a range of software solutions that help organizations to improve their overall equipment effectiveness. Its SAP Asset Intelligence Network (AIN) is a cloud-based solution that provides real-time visibility into equipment performance and enables predictive maintenance. SAP also offers a range of other solutions, such as SAP Predictive Maintenance and Service, which provide condition monitoring, predictive analytics, and remote monitoring capabilities. The company has a strong global presence and serves customers across a wide range of industries, including manufacturing, transportation, and utilities.

Key Companies in the Overall Equipment Effectiveness Software Market Include

• Oracle


• Rockwell Automation


• Kyndryl


• Aveva


• Infor


• PTC


• Siemens


• Schneider Electric


• Eaton


• SAP


• Honeywell


• ABB


• IBM


• Emerson Electric

Overall Equipment Effectiveness Software Market Industry Developments

The Overall Equipment Effectiveness Software market has witnessed significant growth in recent years, driven by the increasing adoption of Industry 4.0 technologies. In 2023, the market was valued at USD 3.74 billion and is projected to reach USD 7.8 billion by 2032, exhibiting a CAGR of 8.5%. The growing need for improved operational efficiency, reduced downtime, and increased productivity in manufacturing industries is propelling market expansion.

Key players in the market include IBM, SAP, Oracle, and Siemens, among others, who are investing in research and development to offer innovative solutions.Notable developments in the market include the integration of artificial intelligence (AI) and machine learning (ML) into OEE software, enabling real-time data analysis and predictive maintenance. Additionally, the rise of cloud-based OEE solutions is gaining traction, offering flexibility, scalability, and reduced infrastructure costs. Strategic partnerships and collaborations between OEE software providers and automation solution providers are also shaping the market landscape.

Overall Equipment Effectiveness Software Market Segmentation Insights

1. 
   

   Overall Equipment Effectiveness Software Market Deployment Model Outlook

   
   
   
   
   1. Cloud
   
   
   2. On-premise
   
   
   
   

2. 
   

   Overall Equipment Effectiveness Software Market Organization Size Outlook

   
   
   
   
   1. Small and Medium-sized Enterprises (SMEs)
   
   
   2. Large Enterprises
   
   
   
   

3. 
   

   Overall Equipment Effectiveness Software Market Industry Outlook

   
   
   
   
   1. Manufacturing
   
   
   2. Healthcare
   
   
   3. Energy
   
   
   4. Transportation
   
   
   5. Retail
   
   
   
   

4. 
   

   Overall Equipment Effectiveness Software Market Functionality Outlook

   
   
   
   
   1. Data Acquisition and Analysis
   
   
   2. Real-time Monitoring
   
   
   3. Predictive Maintenance
   
   
   4. Performance Management
   
   
   
   

5. 
   

   Overall Equipment Effectiveness Software Market Pricing Model Outlook

   
   
   
   
   1. Subscription-based
   
   
   2. Perpetual License
   
   
   
   

6. 
   

   Overall Equipment Effectiveness Software Market Regional Outlook

   
   
   
   
   1. North America
   
   
   2. Europe
   
   
   3. South America
   
   
   4. Asia Pacific
   
   
   5. Middle East and Africa