Modern Manufacturing Execution System Market Future Estimations and Key Industry Segments Poised for Strong Growth in Future 2030
Market Overview
Globally, the modern manufacturing execution system (MES) market has been categorized into four regions—North America, Europe, Asia-Pacific, and the rest of the world. The rest of the world segment has been further divided into the Middle East & Africa and South America. North America led the modern manufacturing execution market in 2018, whereas Asia-Pacific is expected to be the fastest-growing region in the modern manufacturing execution market during the forecast period. Europe followed North America in the modern manufacturing execution market in terms of share in 2018. Modern Manufacturing Execution System market is evaluated to grow USD 34.5 Billion at a CAGR of 14.83% during the forecast period 2023-2030.
Competitive Analysis
The key players of the global modern manufacturing execution system market include
- ABB
- Accenture Plc
- Andea Solutions Sp. z o.o.
- Dassault Systems SE
- Emerson Electric Co.
- GE Digital
- Honeywell Process Solutions
- Rockwell Automation, Inc.
- SAP AG
- Schneider Electric SE
- Siemens PLM Software, Inc.
- Werum IT Solutions GmbH
- Yokogawa Electric Corporation.
- SAP SE
Some of the key features of modern MES systems include:
Real-time data collection: MES systems collect real-time data from the production line, such as machine status, production rates, and quality metrics.
Data analysis: MES systems use data analysis to identify problems, trends, and opportunities for improvement.
Automated tasks: MES systems can automate tasks, such as work order scheduling and tracking, quality control, and inventory management.
AI and ML: MES systems use AI and ML to automate tasks, improve decision-making, and predict future outcomes.
Integration with other systems: MES systems can be integrated with other manufacturing systems, such as ERP and PLM, to create a holistic view of the manufacturing process.
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Synopsis
The global modern manufacturing execution system market is classified based on component, deployment, discrete industry, and region.
Based on component, the modern manufacturing execution system market has been segmented into software and services.
Based on deployment, the modern manufacturing execution system market has been segmented into on-premises, on cloud, and hybrid.
Based on discrete industry, the modern manufacturing execution system market has been divided into automotive, aerospace & defense, medical, FMCG, electronics, and others.
Some of the benefits of using a modern MES system include:
Improved efficiency: MES systems can help to improve efficiency by automating tasks, such as work order scheduling and tracking, quality control, and inventory management.
Increased quality: MES systems can help to improve quality by providing real-time data on the production process, which can be used to identify and address problems early on.
Reduced costs: MES systems can help to reduce costs by improving efficiency and quality, and by optimizing resource utilization.
Improved compliance: MES systems can help manufacturers to comply with regulations by providing traceability and audit trails.
Increased flexibility: MES systems can help manufacturers to be more flexible by enabling them to quickly adapt to changes in demand or production requirements.
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Regional Analysis
The geographic analysis of the modern manufacturing execution system market size has been conducted for North America, Europe, Asia-Pacific, and the rest of the world.
The major modern manufacturing execution system providers in the region holding the largest market share are expected to contribute to this region's dominance in the market during the forecast period. Among the key countries in North America, the US has witnessed a steady growth in the modern manufacturing execution system market over the last decade owing to the high demand for these systems from the industries such as water and wastewater treatment, food and beverage, power industries.
As per MRFR analysis, Europe accounted for nearly one-third of global investment in Industry 4.0, and the countries in Western and Northern Europe, mostly Germany, are the principal markets. Rapid Adoption of IoT and industrial automation has enhanced the growth of the modern manufacturing executions system market in the region to a fair degree.
Government initiatives to support industrial automation drive the demand for modern manufacturing execution systems in Asia-Pacific. Manufacturing plants in the region are heavily investing in R&D for industrial automation, Industrial Internet of Things (IIoT), and cloud technology. These manufacturing companies are increasingly adopting new, improved modern manufacturing execution systems.
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