Market Trends of Electronic Shift Operations Management Solutions Industry
Chemicals industry to witness significant growth
- The world is witnessing rapid growth in the fourth Industrial revolution that combines innovative technologies in production processes and industrial operations, driving the demand for electronic shift operations management Solutions (eSOMS). The rise of frontier technologies such as the Internet of Things, artificial intelligence, robotics, electric vehicles, and additive manufacturing adds to the growing demand of the global eSOMS market. Chemical materials and components are crucial throughout the entire production process across a wide range of industries. Therefore, operational efficiency in chemical facilities is important.
- Chemical facilities utilize multiple management systems, such as plant control systems, information management systems for recording and managing operational conditions, and systems for managing product quality. This has increased the demand for eSOMS owing to its advantages over traditional methods wherein plant operators use handwritten notes to share information and to give instructions on operations. eSOMS enables integrated management by digitizing all critical plat information, operator task instructions, task logs, and workflow information.
- Electronic shift Operations Management System in the chemicals sector helps to ensure safe, reliable, and efficient plant operations and regulatory compliance through standardized work practices and streamlined processes. For instance, Yokogawa Electric Corporation's Operations Management system is a centralized platform that standardizes and digitizes plant operations information to provide intelligent recommendations. Its workflow-based execution helps to automate tasks, permits, and changes effectively through approval lifecycle and email alerts.
- Innovapptive's Mobile Operator Rounds solutions replace paper-based processes with mobile and wearable technology. The solution checks that data collected on non-instrumented plant assets, critical environmental and safety inspections are performed on schedule and operators have the information at their fingertips.
- ABB offers chemical manufacturing operations management software that includes data across all ABB ability manufacturing operations management (MOM) Applications and external data sources hosted by MOM data services.
- According to the India Brand Equity Foundation, the government of India has introduced a production-linked incentive (PLI) scheme to facilitate the domestic manufacturing of agrochemicals. The demand for specialty chemicals, which constitute 22% of India's total chemicals and petrochemicals market, increased significantly in the previous year.
- The Indian government allocated USD 20.93 million under the Union Budget 2023-24 to the Department of Chemicals and Petrochemicals. Such initiatives will accelerate the demand for electronic shift operation management systems to effectively manage an operations manager's efforts with continuous, real-time data to optimize workflows.
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Asia-Pacific is Expected to Grow at a Significant Rate
- Asia-Pacific is registering an increasing demand for configurability and scalability across industry verticals. Electronic shift operation management facilitates the supervision of employee and personnel attendance. With the growing scalability in industry verticals, eSOMS helps prevent issues like understaffing, overstaffing, and time wastage.
- The Asia-Pacific region is observing a significant investment in industrial automation and smart factories, which is likely to boost the demand for eSOMS during the forecast period. Singapore is the leader in advanced manufacturing technologies. According to the Wisconsin Economic Development Corporation, Singapore recently announced Manufacturing 2030, a 10-year roadmap aiming to grow the manufacturing sector by 50%.
- Last year, Hyundai Motor Group signed an agreement with JTC. This government agency oversees industrial progress in Singapore to collaborate on transportation and logistics for Singapore's next-generation industrial parks. Malaysia also plans to increase industrial productivity by 30% by this decade, and Thailand's government launched Thailand 4.0, a 20-year national development plan to transition into an innovation-driven economy.
- Vendors in the Asia Pacific region are embracing new ways of achieving automation across industrial setups with advanced industrial software solutions. ABB and Hitachi Energy Ltd are some of the major providers of eSOMS in the Asia Pacific. New tools are being developed much faster than ever in collaboration with ecosystem players.
- Vendors across the Asia Pacific are providing eSOMS software that schedules shifts to rotate automatically according to the company's structure. With the advent of intelligent factories, manufacturers are devoting significant investments, as much as 30%, to smart factories. Countries such as China and Japan are among the early adopters of intelligent factories, followed by South Korea.
- With the rise of numerous small and medium organizations in countries such as India and China, eSOMS solutions are rapidly being adopted to maximize efficiency, increase productivity, and increase profits while reducing costs. The ability of eSOMS to ensure the delivery of high-quality services that suit consumers' necessities is driving the market demand.
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