Pune, India, May 2019, /MRFR Press Release/- Market Research Future published a cooked research report on the Global Modern Manufacturing Execution System Market.
The global modern manufacturing execution system market has experienced a paradigm shift in the past decade owing to various technological changes; it is expected to grow at a steady pace in the upcoming years. Geographically, the market for modern manufacturing execution system is spanned across North America, Europe, Asia-Pacific, and the rest of the world. North America dominated the global modern manufacturing execution system market with a market share of 32.5% in 2017 and a market value of USD 3,934.4 million; the market is expected to register a CAGR of 15.3 % during the forecast period. High demand for manufacturing execution systems from such as water and wastewater treatment, food and beverage, power industries has contributed to the growth of North American modern manufacturing execution system market. Furthermore, government initiatives to promote the adoption of Industry 4.0 in the region is also expected to drive growth.
Europe was the second-largest market in 2017, valued at USD 3,421.5 million; the market is projected to exhibit a CAGR of 14.1%. As per MRFR analysis, Europe accounted for nearly one-third of global investment in Industry 4.0. Also, rapid adoption of IoT and industrial automation has enhanced the growth of modern manufacturing execution system market in Europe to a fair degree. Companies operating in Europe such as are ABB Ltd, Andea Solutions, Dassault Systemes SA, SAP AG, Schneider Electric SE, Siemens AG, and Werum IT Solutions GmbH are investing heavily in research and development to integrate modern manufacturing execution system with automotive and manufacturing processes.
However, Asia-Pacific is expected to register the highest CAGR of 18.7% during the forecast period. The major driver of the growth in the Asia-Pacific market is the rise in the number of manufacturing plants across automotive, power, and pharmaceuticals industries where manufacturing execution system is in high demand. The region has also witnessed regular events and conferences such as International Robot Exhibition (iREX) and the System Control Fair (SCF) to deliver unique insights into major Asia-Pacific countries’ view on Industry 4.0 and the Industrial Internet of Things (IIoT). The manufacturing plants in the region are heavily investing in research and development for industrial Internet of Things (IIoT) as well as cloud technology. These manufacturing companies are increasingly adopting new and improved modern manufacturing execution systems thus, fueling the growth of the Asia-Pacific region during the forecast period.
Access Report Details @ https://www.marketresearchfuture.com/reports/modern-manufacturing-execution-system-market-1094
The global modern manufacturing execution system market is expected to reach USD 46,376.8 million at a CAGR of over 15.4% by the end of the forecast period 2019–2027.
Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Global Modern Manufacturing Execution System Market Research Report -Forecast to 2027”.
Global Modern Manufacturing Execution System Market Segmentation
The global modern manufacturing execution system market has been segmented on the basis of component, deployment, discrete industry, and region. The component segment has been segmented into software and service. The software segment is further segmented into enterprise resource planning (ERP), warehouse management, and product lifecycle management (PLM) whereas, the service segment is segmented into consulting & development, training & support, and integration service. On the basis of deployment, the market has been bifurcated into cloud, on-premise, and hybrid. By discrete industry, the market has been segmented into electronics, automotive, medical, FMCG, aerospace & defense, and others. The region includes North America, Europe, Asia-Pacific, and the rest of the world.
Some of the prominent players in the global modern manufacturing execution system market include General Electric Company (US), ABB Ltd (Switzerland), SAP SE (Germany), Emerson Electric Co. (US), Werum IT Solutions GmbH (Germany), Applied Materials, Inc. (US), Siemens AG (Germany), Rockwell Automation, Inc. (US), Dassault Systèmes (France), Honeywell International Inc. (US), and Tebis Technische Informationssysteme AG (Germany).