The Global Modern Manufacturing Execution System Market is Poised to Reflect 15.41% CAGR by 2027
As per Market Research Future (MRFR), the global modern manufacturing execution system market had a valuation of USD 12,125.4 million in 2017 and is projected to reach USD 46,376.8 million in 2027 with a CAGR of 15.41% from 2019 to 2027 (forecast period).
The manufacturing execution system is an information system that tracks, connects, and controls complex data flows and manufacturing equipment on the factory floor. The main purpose of the manufacturing execution system is to ensure the successful implementation of manufacturing operations and the improvement of production output. For example, AVEVA Group PLC provides manufacturing execution systems for hybrid and batch manufacturing processes. It helps to maximize the quality, profitability, and compliance of manufacturing operations. Manufacturing execution systems are used in manufacturing processes in a variety of ways with the goal of increasing productivity, minimizing labor costs, and streamlining production processes. The US and Japan were the first leaders in this area and soon became famous in other countries. Europe has also shown a substantial speed in the development and adoption of manufacturing execution system solutions.
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The main goal of MES is to combine documents, equipment, and material management with electronic work procedures in order to establish an optimized manufacturing environment. MES offers real-time insight into the production process, overall equipment effectiveness (OEE), and saves indirect labor costs through automated data collection from various sources. MES also allows just-in-time and made to order operations with seamless material flow across the supply chain to the end-user. Cantier Systems, Inc. offers real-time traceability to the semiconductor and electronics industries for MES, eliminating cycle time and scrap, optimizing supply chains, and eliminating risk exposure to quality incidents. The company also offers integrated smart manufacturing solutions to different end-users.
Market Dynamics
Currently, low installation costs, increased industrial automation, adoption of factory automation technologies, and strict regulatory compliance are pushing this market’s growth. Globally, as more and more manufacturing companies embrace the latest automation technologies to enhance their operational processes, market opportunities will be generated for manufacturing execution system providers. However, high investments and costs involved in the maintenance and upgrade of manufacturing execution systems can act as a limiting factor for the market during the forecast period.
Market Segmentation
The global market for modern manufacturing execution system has been segmented based on components. By component, the global modern manufacturing execution system market has been segmented into electronics, automotive, medical, FMCG, aerospace & defense, and others. The electronics segment accounted for a significant market share of 25.9% in 2017, with a value of USD 3.138.8 million; a CAGR of 17.0% is expected to be recorded during the forecast period. The automotive segment held the second-largest position in 2017, estimated at USD 2.551.9 million; a CAGR of 12.4% is expected. However, the medical segment is projected to post the highest CAGR of 17.7%.
Regional Analysis
Region-wise, the global modern manufacturing execution system market has been divided into North America, Europe, Asia Pacific, and the rest of the world. North America captured the largest market share of 32.45% in 2017, with a value of USD 3.934.4 million, trailed by Europe, Asia Pacific, and the rest of the world. Major modern manufacturing execution system providers like Emerson Electric Co., General Electric Company, Honeywell International Inc., and Rockwell Automation, Inc., among others, are expected to have the largest market share to contribute to the dominance of this area during the forecast period. The US has experienced steady growth in the modern manufacturing execution system market over the last decade, due to the high demand for these systems from the water and wastewater treatment, food and beverage, and power industries. In addition, the increasing need to track real-time data, increase data visibility, and control off-site production activities have a significant effect on the growth of the modern manufacturing execution system market in North America. The Asian Pacific market is projected to have the highest CAGR of 18.7% during the forecast period 2019-2027.
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Key Players
The industry giants in the global modern manufacturing execution system market are Siemens AG (Germany), General Electric Company (US), ABB Ltd (Switzerland), Emerson Electric Co. (US), Applied Materials, Inc. (US), Dassault Systèmes (France), Werum IT Solutions GmbH (Germany), Rockwell Automation, Inc. (US), Honeywell International Inc. (US), SAP SE (Germany), and Tebis Technische Informationssysteme AG (Germany). About Market Research Future: At Market Research Future (MRFR), we enable our clients to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
About Market Research Future:
At Market Research Future (MRFR), we enable our clients to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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