Market Size of Electronic Shift Operations Management Solutions Industry
Study Period | 2022 - 2029 |
Base Year For Estimation | 2023 |
CAGR (2024 - 2029) | 11.42 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
Electronic Shift Operations Management Solutions Market Analysis
The Electronic Shift Operations Management Solutions Market is expected to register a CAGR of 11.42% during the forecast period.
An electronic shift operations management solution (eSOMS) is an integrated software that achieves critical functions by automating and integrating the factory's essential processes, such as power generation and manufacturing. Electronic shift operations management solution comes with highly efficient modular designs that allow for maximum flexibility while automating and integrating all major processes in industries.
- Growing demand for transformation technologies to improve customer experiences, business agility, and employee engagement in industry verticals is driving the demand for Electronic Shift Operations Management Solutions. The rise of digital transformation has steered a radical shift in how businesses harness customer insights, technology capabilities, and research and development to drive revenue growth.
- The expansion of industrial sites worldwide is increasing the demand for efficient data collection tools for managing crucial human procedures like shift handover and capturing the events of the day or shift. As the conventional data logging methods are not integrated with industrial software, eSOMS simplifies operations by organizing routine maintenance operations and data in a single electronic suite.
- Inefficient shift handover processes have caused fatal incidents, requiring constant and precise data. To fix these challenges, there is a rising adoption of electronic shift operations management Solutions to offer an efficient operations management solution with enterprise scalability.
- High-end eSOMS solutions can achieve consistent, safe, and fully informed shift handovers, enhance communication, and minimize the risk of dangerous incidents. The software solution is designed to record, track, and manage events within various departments in industrial setups. eSOMS contains a continuous stream of work instructions and ensures the productive completion of tasks.
- With the outbreak of COVID-19, electronic shift operation management solutions had been increasingly deployed by organizations to ensure a safe, efficient, and reliable operation and maintenance of mission-critical facilities with minimum investment. The need for a consistent, organized, and integrated approach to activities in critical industries, including military, nuclear power, chemical production, and others, had increased the deployment of eSOMS post-pandemic. For instance, ABB had deployed its Ability Asset Suite eSOMS to simplify operations in data centers.
Electronic Shift Operations Management Solutions Industry Segmentation
Electronic shift operations management solution (eSOMS) ensures a high level of efficiency and sustainability by automating the manual and repetitive process of documentation, transmission of information, scheduling shifts, and other mandatory tasks.
The electronic shift operations management solutions market is segmented by application (limited condition of operation (LCO) tracking, administration, tracking and control, personnel, qualification and scheduling, and other applications), end-user (chemicals, oil & gas, military, automotive, energy & utilities, and other end-users), and geography (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).
The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
By Application | |
Limited Condition of Operation (LCO) Tracking | |
Administration | |
Tracking and Control | |
Personnel, Qualification & Scheduling | |
Other Applications |
By End-User | |
Chemicals | |
Oil and gas | |
Military | |
Automotive | |
Energy and Utilities | |
Other End-Users |
By Geography*** | |
North America | |
Europe | |
Asia | |
Latin America | |
Middle East and Africa |
Electronic Shift Operations Management Solutions Market Size Summary
The Electronic Shift Operations Management Solutions (eSOMS) market is experiencing significant growth, driven by the increasing demand for integrated software solutions that automate and streamline essential industrial processes. These solutions are pivotal in enhancing business agility, improving customer experiences, and boosting employee engagement across various industry verticals. The shift towards digital transformation has been a key factor, as businesses leverage technology to gain insights and drive revenue growth. The need for efficient data collection and management tools has become paramount, especially with the expansion of industrial sites globally. eSOMS addresses the challenges posed by traditional data logging methods by offering a comprehensive electronic suite that organizes maintenance operations and data, ensuring safe and efficient shift handovers. The adoption of eSOMS is further propelled by the necessity for enterprise scalability and the ability to minimize risks associated with inefficient handover processes.
The market is characterized by rapid advancements in technology, with the fourth Industrial Revolution playing a crucial role in the adoption of eSOMS. The integration of frontier technologies such as IoT, AI, and robotics is driving demand, particularly in sectors like chemicals, where operational efficiency is critical. eSOMS solutions are replacing outdated methods, such as handwritten notes, with digitized systems that enhance safety, reliability, and regulatory compliance. The Asia-Pacific region is witnessing a surge in demand due to significant investments in industrial automation and smart factories, with countries like Singapore, China, and Japan leading the way. Key players in the market, including ABB, Hitachi Energy Ltd, and Hexagon AB, are continuously innovating and forming strategic partnerships to maintain a competitive edge. These developments are supported by government initiatives, such as India's production-linked incentive scheme, which further accelerates the adoption of eSOMS solutions across various industries.
Electronic Shift Operations Management Solutions Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Attractiveness - Porter's Five Forces Analysis
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1.2.1 Bargaining Power of Buyers
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1.2.2 Bargaining Power of Suppliers
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1.2.3 Threat of New Entrants
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1.2.4 Threat of Substitutes
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1.2.5 Intensity of Competitive Rivalry
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1.3 Industry Value Chain Analysis
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1.4 Assessment of Macro-economic factor and its Impact on the Market
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2. MARKET SEGMENTATION
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2.1 By Application
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2.1.1 Limited Condition of Operation (LCO) Tracking
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2.1.2 Administration
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2.1.3 Tracking and Control
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2.1.4 Personnel, Qualification & Scheduling
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2.1.5 Other Applications
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2.2 By End-User
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2.2.1 Chemicals
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2.2.2 Oil and gas
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2.2.3 Military
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2.2.4 Automotive
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2.2.5 Energy and Utilities
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2.2.6 Other End-Users
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2.3 By Geography***
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2.3.1 North America
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2.3.2 Europe
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2.3.3 Asia
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2.3.4 Latin America
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2.3.5 Middle East and Africa
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Electronic Shift Operations Management Solutions Market Size FAQs
What is the current Electronic Shift Operations Management Solutions Market size?
The Electronic Shift Operations Management Solutions Market is projected to register a CAGR of 11.42% during the forecast period (2024-2029)
Who are the key players in Electronic Shift Operations Management Solutions Market?
ABB, Hitachi Energy Ltd, Hexagon AB, Conmitto, Inc. and Broadcom are the major companies operating in the Electronic Shift Operations Management Solutions Market.