DUBLIN--(BUSINESS WIRE)--The "Manufacturing Execution System Market by Offering (Software, Services), Deployment (On-premises, On-demand, Hybrid), Process Industry (Food & Beverages, Pharmaceuticals & Life Sciences), Discrete Industry, Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The Manufacturing Execution System Market is Expected to Grow from USD 11.8 Billion by 2019 to USD 23.0 Billion by 2024 at a CAGR of 14.3% from 2019 to 2024.
A few key factors driving the growth of this market include increasing use of industrial automation in process and discrete industries, the growing importance of regulatory compliance, and low deployment cost of MES solutions.
Manufacturing execution system market for on-premise deployment to hold larger share during forecast period
The manufacturing execution system market for on-premise deployment holds a larger share during the forecast period. The on-premises model enables manufacturers to host applications within the office premises. Unlike the on-demand model, the on-premises model is dedicated to only one organization. In this deployment type, the user has to bear the cost of purchasing and maintaining the software and infrastructure. It offers hosted services to a limited number of people within a firewall, thereby minimizing security concerns.
Manufacturing execution systems for discrete industry in automotive is expected to hold largest share during forecast period
The manufacturing execution system market for automotive is expected to hold the largest market share during the forecast period. The intense competition in the automobile industry has led to an increase in innovations and technologies in automobiles. The automotive sector has been witnessing rapid changes in manufacturing technologies. Most of the functions such as inventory management, performance analysis, design process, and supply chain management, which are time-consuming when carried out manually, can be automated with the help of manufacturing execution systems.
APAC to witness the highest CAGR in manufacturing execution system market during the forecast period
The APAC region is expected to grow at the highest CAGR in the manufacturing execution system market during the forecast period. The demand for manufacturing execution systems is very high in APAC for implementing the change from manual or legacy systems to automated systems. The MES market in China is expected to grow mainly due to the increasing number of manufacturing units in the country, which is expected to create huge demand for MES software. Another reason for the growth of the MES market in APAC is the increase in the number of manufacturing plants in various sectors such as automotive, textiles, power, and pharmaceuticals where manufacturing execution systems are in high demand. China and India are considered to be the growth engines for the MES market in APAC.
Honeywell International, Inc. (US), Rockwell Automation, Inc. (US), AVEVA plc (UK), Siemens AG (Germany), Dassault Systmes (France), SAP SE (Germany), ABB Ltd. (Switzerland), and Werum IT Solutions GmbH (Germany) are among a few major players in the manufacturing execution system market.
- Need for Mass Production and Connected Supply Chain to Cater to the Growing Population
- Low Deployment Cost
- Increasing use of Industrial Automation in Process and Discrete Industries
- Growing Importance of Regulatory Compliance
- High Investment and Running Costs Involved in Implementation and Upgrade of Manufacturing Execution Systems for Small-Scale Production
- Lack of Awareness Regarding Benefits of MES Solutions Among SMEs
- Integration With Solutions Such as Erp and PLM
- Increasing Scope of Manufacturing Execution Systems in Raising Energy Efficiency and Sustainable Production
- Potential Application Base in the Pharmaceutical & Life Sciences Industry
- Complex Implementation
Value Chain Analysis
Functions of Manufacturing Execution Systems
- Data Collection & Acquisition
- Dispatching Production
- Labor Management
- Maintenance Operations Management
- Movement, Storage, and Tracking of Materials
- Performance Analysis
- Process Management
- Resource Allocation and Management
- Dispatching and Production
- Document Control
- Operations Scheduling and Management
- Applied Materials
- Dassault Systmes
- Emerson Electric
- Epicor Software Corporation
- General Electric
- Honeywell International
- Rockwell Automation
- Werum It Solutions
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