Market Research Future published a cooked research report on the Global Modern Manufacturing Execution System Market.
The Modern Manufacturing Execution System Market is predicted to reach USD 97,310.2 million by 2030, registering a 20.5% CAGR during the forecast period, 2022–2030. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the market in the next few years. The global modern manufacturing execution system market is expected to witness substantial growth during the forecast period, primarily due to increasing demand for industrial automation.
GLOBAL: MODERN MANUFACTURING EXECUTION SYSTEM MARKET, 2018-2030
Source: Industry Expert, Secondary Research, and MRFR Analysis
The global modern manufacturing execution systems market has been segmented into component, deployment, and discrete industry.
Based on component, the global modern manufacturing execution market is segmented into software and services. Based on software, the market is further segmented into enterprise resource planning, warehouse management, product lifecycle management and others. Based on services, the market is further segmented into consulting & development, training & support, integration and others. Software segment holds a largest market share in 2021 and is expected to grow at 19.5% CAGR during the forecast period, whereas service segment is expected to register at highest CAGR of 21.8% during the forecast period.
Based on deployment, the global modern manufacturing execution systems is segmented into cloud, on-premises, and hybrid. Cloud deployment is expected to register a higher CAGR during the forecast period. The organizations focus on saving critical data from malware by deploying cost-effective and time-efficient services on the cloud. In on-premises deployment, various management software are installed on the organization’s infrastructure that require hardware to run, deploy, configure, and manage upgrades as required. On-premises deployment offers control and security using the company’s own IT infrastructure to connect with process, people, and systems. Whereas, Hybrid cloud is a combination of public cloud and private cloud.
Based on discrete industry the global modern manufacturing execution systems is segmented into electronics, automotive, medical, FMCG, aerospace & defense, and others. The electronics segment is expected to grow at a faster rate during the forecast period.
Geographically, the global modern manufacturing execution system market has been segmented into North America, Europe, the Middle East & Africa, and South America.
North America is likely to lead the modern manufacturing execution system market. The players present in North America are one of the top players in the world. North America accounted for the largest market share of XX% in 2021, with a market value of USD XXX million; the market is expected to register a CAGR of 22.9% during the forecast period. US is the leading country in North America, holding the largest market share. The leading market players such as Emerson Electric Co., General Electric Company, Honeywell International Inc., and Rockwell Automation, Inc. are based in the US and largely invest in the development of modern manufacturing execution system. According to a survey conducted by Capgemini Digital Transformation Institute in February–March 2017, nearly half of the manufacturing facilities in the US have integrated at least one ongoing smart factory project into their facilities. The major industries adopting MES are water and wastewater treatment, food and beverage, and power.
Europe was the second-largest market in 2021, valued at USD XXX million; the market is projected to exhibit a CAGR of 16.8%. Manufacturing companies in Europe are rigorously investing in IoT technology and advanced robotics which is expected to have a steady growth rate.
The market in Asia-Pacific is expected to register the highest CAGR of 23.8%. China has revealed its plans to adopt Industry 4.0 with the introduction of initiatives such as “Internet Plus” and “Made in China 2025”. “Internet Plus” is an initiative by the government to encourage all industry verticals to adopt internet technologies and make the business operations smart. Similarly, “Made in China 2025” plan is a policy declared by the Chinese government to make China a strong manufacturing and innovation hub. The Chinese firms are actively indulging in global activities to adopt the fourth industrial revolution (Industry 4.0) in China. For instance, in June 2016, Siemens AG and Baosteel Group Corporation, a Chinese iron and steel manufacturing firm, signed a strategic agreement to introduce smart technologies in the latter manufacturing operations. These factors are expected to present several market opportunities in the modern manufacturing execution systems market in these region during the forecast period.
The market for modern manufacturing execution system software has been witnessing a significant growth over the forecast period owing to growing need of real-time visibility and increasing demand for industrial automation. There exist several local, regional, and global players in the modern manufacturing execution system software market who continuously strive to gain a significant share of the overall market. During the study, MRFR has analyzed some of the major players in the global modern manufacturing execution system software who have contributed to the market growth. These include Rockwell Automation, Dassault Systemes, General Electric Company, SAP SE, Siemens AG, ABB LTD, Emerson Electric Co., General Electric Company, Applied Materials, Inc., Werum IT Solutions GMBH, Honeywell International Inc., Tebis Technische Informationssyteme Ag.
Among these, MRFR has identified top five key players in the global modern manufacturing execution system market who have contributed to the global market growth.
These players focus on expanding and enhancing their resolution portfolio and services to remain competitive and increase their customer base. Additionally, these players are focusing on partnerships & collaborations to expand their business and customer base to enhance their market position.