Healthcare to be the largest growing industry for Overall Equipment Effectiveness Software Market during the forecast pe

Healthcare providers can identify inefficiencies, optimize scheduling, and ensure that equipment is available when needed, thereby maximizing its utilization.

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.

Healthcare to be the largest growing industry during the forecast period
The healthcare industry is expected to hold significant growth in the overall equipment effectiveness software market during the forecast period owing to the increasing focus on operational efficiency and cost optimization to meet the growing demand for healthcare services while maintaining high-quality patient care. OEE software helps track and analyze the utilization of medical equipment such as diagnostic machines, surgical tools, imaging devices, and patient monitoring systems. By collecting real-time data on equipment usage and downtime, healthcare providers can identify inefficiencies, optimize scheduling, and ensure that equipment is available when needed, thereby maximizing its utilization.

Download PDF:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=184751132

Software segment to hold the largest share of the market in 2022
The software segment holds the largest market share in 2022 due to factors such as increasing adoption of automation, advanced analytics capabilities, integration with other software systems, scalability and flexibility, and the growing focus on productivity and efficiency improvement. These software solutions play a crucial role in monitoring and optimizing equipment performance in automated processes, providing real-time data, performance metrics, and analytics dashboards. The ability to analyze and optimize equipment performance, along with their compatibility with other enterprise systems, makes OEE software highly sought after by industries looking to improve operational efficiency and remain competitive in the market.

On-premises segment to dominate the overall equipment effectiveness software market in 2022
In 2022, the on-premises segment held the largest equipment effectiveness software market share. On-premises deployment eliminates the reliance on external networks or internet connectivity. Manufacturers can access and utilize the OEE software locally within their facilities without concerns about network stability or latency issues. This ensures uninterrupted access to critical information and real-time monitoring, enabling prompt decision-making and response to equipment performance issues. The widespread adoption of on-premises deployment in OEE software is because it provides organizations with control, customization, security, compliance, and compatibility with existing infrastructure, addressing their specific needs and preferences.

Predictive maintenance is estimated to hold the highest CAGR during the forecast period
The core function of predictive maintenance is to precisely predict asset failure, thereby enabling enterprises to take the asset out of production just before it fails and ensure production is not hampered due to the asset’s failure. Predictive maintenance is estimated to hold the highest CAGR during the forecast period as organizations increasingly recognize the value of proactive equipment maintenance to enhance overall equipment effectiveness. Predictive maintenance OEE software utilizes advanced analytics, machine learning, and sensor data to predict and prevent equipment failures, reducing unplanned downtime and optimizing production efficiency.

Asia Pacific region is likely to hold the largest growth rate by 2028
The Asia Pacific region is experiencing rapid industrial automation adoption. Companies are implementing advanced technologies such as robotics, IoT (Internet of Things), and AI (Artificial Intelligence) to streamline their manufacturing operations. These technologies enable businesses to automate production, improve efficiency, and optimize equipment utilization. OEE software plays a crucial role in this automation journey by providing real-time monitoring, performance analysis, and predictive maintenance capabilities to maximize equipment efficiency. The major factor driving the growth of the overall equipment effectiveness software market in APAC is the increasing focus of manufacturers toward industrial automation and smart manufacturing.

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).


Tom C

33 Blog posts

Comments