Modern Manufacturing Execution System Market Size - Growth Opportunities to 2027

Market Insights

 

The global modern manufacturing execution system (MRS) is expected to witness promising growth at a CAGR of 12.76 during the projected period from 2018 to 2023 according to Market Research Future's latest report on the subject. MRFR has recorded findings such as opening market value of USD 8.58 Bn in 2017 which will grow to reach an approximate market value of USD 17.64 Bn by the end of 2023. Modern manufacturing execution systems are integrated with ERP and lifecycle management applications among others to provide visibility, synchronization, and control over manufacturing processes. The key function of MES is to provide the manufacturing process with improved process capability and increased efficiency.

 

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The use of modern manufacturing execution systems due to its key function mentioned above is expected to grow exponentially. The growing manufacturing sector and the strong need to optimize manufacturing processes have increased the adoption of manufacturing execution systems. Rapid industrialization, particularly in emerging economies has provided the modern manufacturing execution system with immense growth potential during the forecast period. Globalization has allowed manufacturers across the world to adopt efficient coordination models which optimize manufacturing processes with plants in various locations. Moreover, several end-user industries have stringent regulation when it comes to manufacturing processes; examples include the pharmaceutical sector and F&B sector among others. As such, market players in these sectors are adopting MES to aid growth. Moreover, there is a growing need for real-time visibility and remote control of the manufacturing process, thus driving the market. Increasingly advanced features of MED is expected to increase adoption among small and medium scale manufacturing plants as well.

 

However, the market's growth is expected to be slowed down by the complexity of the technology involved in MES as well as the high initial cost and long installation process associated with modern manufacturing execution systems.

 

 

Regional Analysis

 

The presence of a highly consumer based economy in North America has put the region in a leadership position in the global modern manufacturing execution system market. The heavy demand for MES in water & wastewater management plants and several process industries like food & beverage among others is expected to drive the market. Moreover, the high rate of adoption of sophisticated MES technology as well as, the increasing need & demand for tracking real-time manufacturing data is expected to propel market growth. Meanwhile, the Asia Pacific is a promising regional market with a high growth rate over the assessment period. The growing establishment of a manufacturing hub in this region is expected to be key in its rapid growth.

 

Market Segmentation

 

The global Modern Manufacturing Execution System Market Size has been divided into its components on the basis of factors such as deployment type, offerings, process industry, discrete industry, and region. Deployment type has been segmented, in the report, into on-demand, on-premise, and hybrid.

 

Offerings in the market are divided between software and service. Cloud offerings and various other new offerings in the market are expected to offer the market with new opportunities.

 

Process industries where MES is used include oil & gas, chemicals, pharmaceuticals, pulp & paper, food & beverages, life sciences, water & wastewater management, and others.

 

Discrete industries where MES solutions are deployed include medical devices, consumer packaged goods, automotive, aerospace & defense, and others.

 

Regions covered in MRFR's global report include Asia Pacific, North America, Europe, and the Rest of the World.

 

Key Players

 

Leading market players such as Werum IT Solutions GmbH, Andea Solutions, ABB Ltd., Siemens AG, Dassault Systems SA, Rockwell Automation, Inc., Schneider Electric SE, Emerson Electric Co., SAP AG, Honeywell International Inc., and General Electric Company have been analysed in MRFR's report on the global modern manufacturing execution system market

 

Browse More Details on Report at: https://www.marketresearchfuture.com/reports/modern-manufacturing-execution-system-market-1094 

 

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