Overall Equipment Effectiveness Software Market Report 2024

The overall equipment effectiveness software market size has grown rapidly in recent years. It will grow from $58.28 billion in 2023 to $65.7 billion in 2024 at a compound annual growth rate (CAGR) of 12.7%. Historic period growth stemmed from increased ERP software usage, IoT and AI adoption in manufacturing, automation uptake, enhanced focus on productivity, efficiency, and equipment performance enhancement.

The overall equipment effectiveness software market size is expected to see rapid growth in the next few years. It will grow to $107.28 billion in 2028 at a compound annual growth rate (CAGR) of 13%. Forecast period growth is driven by industrial automation expansion, improved equipment performance, output enhancement, cost reduction, and efficiency boost. Increased ERP software use across sectors for multifunctional tasks and rising demand for advanced OEE software solutions are key drivers. Forecast trends include software system integration, cutting-edge technology utilization, technological advancements' impact, rapid OEE software solution evolution, and MES integration with PLM and ERP solutions on the rise.

The growth of the overall equipment effectiveness software market is expected to be driven by increasing industrial automation. Industrial automation involves the use of control systems, such as computers or robots, and information technologies to manage various processes and machinery in industries, reducing the need for human intervention. This adoption aims to enhance efficiency, lower production costs, improve product quality, and bolster safety in manufacturing and industrial operations. Overall Equipment Effectiveness (OEE) software plays a crucial role in industrial automation by offering a framework to measure, analyze, and enhance the performance of manufacturing equipment. For example, a report by the International Federation of Robotics noted a 5% year-on-year growth rate in global factory installations of industrial robots, reaching 553,052 installations by September 2023. Thus, the rise in industrial automation contributes to the expansion of the overall equipment effectiveness software market.

Leading companies in the overall equipment effectiveness software market concentrate on technological advancements, such as IoT-driven applications for Overall Equipment Effectiveness (OEE), to boost operational efficiency in industrial settings. These applications utilize Internet of Things (IoT) technology to improve the monitoring, analysis, and optimization of manufacturing equipment performance. By integrating IoT sensors and devices with OEE software, manufacturers gain real-time data and advanced analytics capabilities, enabling them to enhance efficiency, minimize downtime, and increase overall productivity. For instance, Software AG introduced the Cumulocity IoT OEE app in September 2021, automating OEE calculations within its Cumulocity IoT platform. This innovation allows manufacturers of all sizes to efficiently capture and analyze real-time data, swiftly assessing production efficiency by monitoring availability, performance, and quality on production lines. This proactive approach helps organizations address inefficiencies and optimize operations effectively.

In May 2024, MaintMaster Systems Ltd., a UK-based provider of cloud-based solutions, acquired OEEsystems International to strengthen its European presence and expand its customer base in key markets such as the UK and Ireland. OEEsystems International, based in Ireland, specializes in software solutions for overall equipment effectiveness (OEE).

Major companies operating in the overall equipment effectiveness software market are Microsoft Corporation, Siemens Aktiengesellschaft, 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.

Asia-Pacific was the largest region in the overall equipment effectiveness software market in 2023. The regions covered in the overall equipment effectiveness software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries 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.

Overall equipment effectiveness (OEE) software serves as a digital tool utilized for assessing and enhancing the efficiency and productivity of manufacturing equipment. This software enables manufacturers to monitor and analyze various aspects of equipment performance, identifying opportunities for improvement and optimizing production processes.

The primary types of OEE software include supervisory control and data acquisition (SCADA), manufacturing execution systems (MES), cloud-based enterprise resource planning (ERP), predictive maintenance solutions, and data historians. SCADA systems comprise software and hardware components enabling industrial organizations to control processes locally or remotely, gather real-time data, interact with devices such as sensors and valves through human-machine interface (HMI) software, and log events. Key functionalities of OEE software encompass availability calculation, performance assessment, quality evaluation, real-time monitoring, root cause analysis, and predictive analytics. These offerings are available through various deployment modes, including on-premises and cloud, catering to industries such as aerospace, automotive, chemical, food and beverage, healthcare, metals and mining, oil and gas, power generation, electronics, semiconductors, and others.

The overall equipment effectiveness software market research report is one of a series of new reports that provides overall equipment effectiveness software market statistics, including overall equipment effectiveness software industry global market size, regional shares, competitors with a overall equipment effectiveness software market share, detailed overall equipment effectiveness software market segments, market trends and opportunities, and any further data you may need to thrive in the overall equipment effectiveness software industry. This overall equipment effectiveness software market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The overall equipment effectiveness software market includes revenues earned by entities through remote monitoring services, customization, software updates, maintenance, data analysis, and reporting. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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