ID: MRFR/ICT/0588-CR | February 2020 | Region: Global | 152 pages
The rising technological advancements in both the ot (operational technology) and it (information technology) are the major drivers of the modern manufacturing execution system industry. the systems used in the information technology are mainly used for the efficient collection of data. and the operational technology is used for the real-time monitoring of particular events and make required changes for various industrial purposes. also, the rising demand for iot (internet of things) is a major factor for its various benefits.
The sudden shift for the industries towards digital platforms includes several levels. It can be helpful for medium and large-sized enterprises. However, currently, it is essential for effective and capable software for better performance of the systems. As a result, medium and small-sized enterprises are not capable to use advanced solutions. For that, they need high investments. Also, there is a certain lack of knowledge regarding the benefits of the Modern Manufacturing Execution System Market Trends among the users. Thus, these factors can hinder the market growth during the forecast period.
There are various modern manufacturing execution system market opportunities that are expected to boost the market. The modern manufacturing execution systems are largely used for gathering and auditing the data, dispatching, scheduling, and other tasks. It also requires other available solutions in the market for effective workflows such as the warehouse management systems (wms), supply chain management (scm), and many more. The combination of such solutions along with the mes has greater opportunities for the market to develop at a rapid speed.
The complicated process for installation among various industries can be a huge challenge. The requirement of every industry is different from one another. The complicated process can be tough for implementation along with the system and can affect the performance. It will take a huge amount of time will be challenging for the modern manufacturing execution system market to thrive.
Due to the rising technological advancements, the market will escalate and gain significant revenue. The shift of business organisations towards more enhanced and mes systems are influencing the market growth. It is projected that the compound annual growth rate of the modern manufacturing execution system industry will be around 16.1%. The market will generate healthy revenue and modern manufacturing execution system market value will reach around usd 46, 607 million during the forecast period 2020-2026.
Value Chain Analysis
The need for integrated services for data collection, deployment, software services, and other factors are adding value for the modern manufacturing execution system industry. Hence, the developments and recent developments by the key players are effective and the market will have huge importance among various industries for a long period in the future years.
The modern manufacturing execution system market share is segmented into deployment, components, and discrete industry.
On the basis of discrete industry, the modern manufacturing execution system market is further divided into Defence and Aerospace, FMCG, Automotive, Electronics, Medicals, and others
On the basis of components, the modern manufacturing execution system market is further segmented into services and software.
The modern manufacturing execution system industry on the basis of deployment is further bifurcated into hybrid, on-premise, and on-cloud.
On the basis of region, the modern manufacturing execution system market size is divided into asia-pacific, north america, europe, latin america, and the rest of the world. It was recorded that the north american region held the largest share in the market during 2019. Hence, it is evaluated that this region will dominate the market in the future years too.
The asia-pacific will be the fastest-growing region in the global modern manufacturing execution system industry during the forecast period. One of the major reasons is the rapid industrialisation and demand for better technology. Along with that, countries such as india, china and japan are the major contributors to the positive growth.
The european region will also hold a significant share in the global modern manufacturing execution system market after north america. It is expected that this region will have the highest cagr of around 19% in the future years.
Further, the section of rest of the world is divided into africa and the middle east. The modern manufacturing execution system market in this region will also have substantial growth as compared to the previous years. Rising awareness for technological advancements is one of the major factors for growth.
There are various key players which are trying to improve the modern manufacturing execution system market growth through various market strategies. They do collaborations, acquisitions, market surveys, data collection, mergers, product launches, etc. A major key player called AVEVA Group PLC provides various execution systems for the various manufacturing process.
Another major company Rockwell announced that it upgraded its service for the “FactoryTalk InnovationSuite” for its consumers. The program is supported by the PTC to promote its market growth in the upcoming years.
Here is the list of some renowned modern manufacturing execution system market key players-
The report overview of the modern manufacturing execution system (mes) market is as follows-
Report Score and Segmentation
The score of the market is to give information upon the report of the modern manufacturing execution system industry. It also gives information about the market drivers, opportunities, restraints, and other factors. Further, it also gives information about the key players in the market.
By Discrete Industry
|Segments Covered||• By Component (Software and Services) • By Development (On-Premise, On-Cloud, and Hybrid) • By Discrete Industry (Automotive, Aerospace & Defence, Medical, FMCG, Electronics, and Others)|
|Key Vendors||• Siemens AG • ABB LTD • Emerson Electric CO. • General Electric Company • Applied Materials Inc • SAP SE • Werum IT Solutions • Rockwell Automation Inc • Dassault Systemes • Honeywell Internationational Inc • Tebis Technische Informationssyteme AG|
|Key Market Opportunities|
|Key Market Drivers||• Drivers • Increasing Demand for Industrial Automation • Growing Need of Real-Time Visibility • Restraint • High Initial Investment • Opportunity • Increasing Penetration of MES in Industrial Internet of Things (IIOT) • Impact of COVID-19 • Challenges Witnessed by the Global Manufacturing Industry • Increased Adoption of IT/OT Technologies For Manufacturing and Supply Chain Enhancement • Early Adoption of innovative Technologies and Workforce investments have protected Businesses|
Frequently Asked Questions (FAQ) :
The APAC modern manufacturing execution system market is anticipated to record a substantial market valuation of USD 46.3 billion over the review period.
The global modern manufacturing execution system market is projected to register a moderate 15.41% CAGR in the forecast period.
Technological advancements, rapid urbanization are increasing the adoption of LTE technology for public safety.
the high maintenance cost is likely to hamper the growth of the public safety LTE market over the review period.
The on-cloud segment is slated to expand as the fastest-growing segment.
The electronics segment is slated to expand as the fastest-growing segment.
A few major market players operating in the global modern manufacturing execution system market are SAS Institute, Inc (US), Honeywell International Inc. (US),IBM Corporation (US), Dassault Systèmes (France), SAP SE (Germany), among others.