The Connected Production part of the IIoT/Connected Applications market is set to grow to over $3 billion by 2024 and, when projected MOM revenues are combined with the additional IIoT/Connected Production market, we are forecasting an overall market size

Manufacturing Operations Management (MOM) software is important to industrial automation for digital transformation and smart factories. The industrial Internet-of-Things (IIoT) supports new ‘connected applications’ that present both opportunities and thr

New research provides insights into combined impact of industrial Internet of Things and Manufacturing Operations Management software.

CAMBRIDGE, CAMBRIDGESHIRE, UNITED KINGDOM, March 2, 2022 /EINPresswire.com/ -- New research from Cambashi, a global leader in research, consulting, and training for engineering and industrial software markets, reveals a potential combined market value of $11 billion by 2024 from IIoT (Industrial Internet of Things) and MOM (Manufacturing Operations Management) software markets.

According to the Cambashi Market Exports, MOM software has become increasingly important to industrial automation for manufacturers to enable digital transformation and smart factories. At a time of growth, IIoT supports new ‘connected applications’ that present both opportunities and threats to established MOM software providers.

Cambashi MOM and IoT Observatories – which assess market trends, growth by country and industry and competitor performance – reveal that advances in industrial IoT technology provide support for smart manufacturing and increased efficiency using cloud platforms, ‘as-a-service’ business models, smart devices, edge connectivity, and analytical tools.

According to Simon Hailstone, Head of Research for Cambashi: “IIoT/Connected Applications providers were negatively impacted by the manufacturing slowdown in 2020, more so than MOM software providers, but we saw a dramatic recovery in 2021. The Connected Production part of the IIoT/Connected Applications market is set to grow to over $3 billion by 2024 and, when projected MOM revenues are combined with the additional IIoT/Connected Production market, we are forecasting an overall market size of over $11 billion by 2024.”

“Connected Applications are key to digital transformation initiatives,” said Alan Griffiths, Lead Analyst at Cambashi. “Established MOM providers need to pay close attention to not only the new growth opportunities, but also the risks to market share resulting from the intersection between traditional MOM and burgeoning IIoT/Connected Production capabilities.”

Download Cambashi’s 2022 research paper “The impact of the industrial IoT on the Manufacturing Operations Management software market” that draws from its Observatory research and e-learning curriculum.
---000---

MEDIA CONTACTS:

Barry Monk, Next Communications
Barry.Monk@cambashi.com
+44 (0) 7811 336 943
Anastasia Prokhorova, Cambashi
Anastasia.Prokhorova@cambashi.com

ABOUT CAMBASHI

Cambashi is a global market research, industry analysis, consulting and training company, focused on engineering and industrial software markets (IoT, BIM, PLM, CAD/CAM/CAE). For over 35 years the company has provided in-depth market intelligence and analysis, based on comprehensive, multi-perspective datasets. The Cambashi Observatories help organisations establish market potential for the various engineering software segments in defined industry sectors and territories.

Anastasia Prokhorova
Cambashi
email us here
Visit us on social media:
Twitter
LinkedIn

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.