Impact of COVID-19 on the Global Modern Manufacturing Execution Systems Market
A modern manufacturing execution system is a computerized information system that is used to connect, monitor, and control the complex data flow and manufacturing equipment in factories. It is used to track and document the data regarding the transformation of raw materials into finished goods. The primary objective of modern manufacturing execution systems is to enhance productivity and ensure the effective implementation of operational activities. They also help in optimizing profitability, quality, and compliance of manufacturing operations. The spread of COVID-19 has significantly impacted most industries. The healthcare industry has grown during the epidemic, whereas the modern manufacturing execution systems market has been neutrally impacted. Lockdowns have been imposed by the governments in most countries to contain the spread of the virus. These lockdowns have resulted in the temporary shutting down of all manufacturing facilities except the ones producing essential goods, which is hampering the growth of the market.
However, on the flip side, the need for medicines to combat the growing cases of COVID-19 across the world is expected to drive the growth of the pharmaceuticals market. Many challenges faced by pharmaceutical manufacturers, such as the increasing diversification of product portfolios and compliance with safety and regulatory guidelines, can be overcome through the use of MES. The companies are mostly focused on decreasing operational expenses as well as are interested in diversifying their products to minimize risks and maximize the gains. The use of modern manufacturing execution systems in the plants helps in reducing indirect labor costs via the automated collection of data from multiple sources. Modern manufacturing execution systems, therefore, play an important role during the current pandemic crisis, as they help in better controlling the production process as well as in increasing the efficiency of operations.
The manufacturing of advanced products in most countries is expected to drive the growth of the market significantly post the lockdown period. Modern manufacturing execution systems are expected to help manufacturing facilities overcome the challenges posed by the coronavirus outbreak and provide benefits such as profit maximization, productivity enhancement, and quality management. According to MRFR analysis, North America accounted for the largest market share and is expected to continue its dominance of the market over the forecast period owing to the presence of prominent modern manufacturing execution systems providers.