New York, NY, Oct. 30, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Manufacturing Execution System (MES) Market By Function (Quality Analysis, Document Control, Inventory Management, Production Tracking, Production Performance Analysis, Resource Allocation, And Others), By Process Industry (Oil And Gas, Food And Beverages, Chemical, Power And Energy, And Others), and By Discrete Industry (Automotive, Consumer Electronics, Aerospace And Defense, Metal And Mining, And Others): Global Industry Perspective, Comprehensive Analysis, And Forecast, 2017 – 2024”. According to the report, global manufacturing execution system (MES) market was valued at approximately USD 9.28 billion in 2017 and is expected to reach approximately USD 21.70 billion by 2024, at a CAGR of around 12.90% between 2018 and 2024.
Manufacturing execution system (MES) is an IT-enabled system that gives solutions for optimizing and improving the manufacturing process to engineers and managers. This system helps in generating a greater output at minimum cost by altering the current conditions of the shop floor. Manufacturing execution system connects the ERP system and the process control system. It works in real-time to control the multiple functions of the production process.
Browse through 66 Tables & 36 Figures spread over 162 Pages and in-depth TOC on “Global Manufacturing Execution System (MES) Market Size, Share, 2017: Industry Demand, Growth, Analysis and Forecast, 2024”.
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Rising need to effectively manage evolving challenges in the manufacturing process is expected to boost the demand for the manufacturing execution system (MES) market across the globe. Many companies are facing challenges about connecting hardware components to cloud computing. The manufacturing execution system based on cloud helps in connecting those hardware components by assigning an internet protocol (IP) or transmission control protocol (TCP) address to the device. Manufacturing execution system can integrate with other ERP systems in the organization and this factor is further anticipated to escalate the growth of manufacturing execution system (MES) market globally. Integration of other ERP systems with MES will eliminate the need for standalone systems and provide better information of estimated order delivery dates, and improve decision-making. However, the complex nature of technology may restrain the global manufacturing execution system (MES) market growth.
Manufacturing execution system (MES) market is segmented on the basis of function, process industry, discrete industry, and region. On the basis of function, the market is divided into quality analysis, document control, inventory management, production tracking, production performance analysis, resource allocation, and others. Process industry segment includes oil and gas, food and beverages, chemical, power and energy, and others. Discrete industries of manufacturing execution system (MES) market are automotive, consumer electronics, aerospace and defense, metal and mining, and others.
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North America is expected to have the largest share in the overall manufacturing execution system (MES) market. Thriving manufacturing industry in the U.S. has helped the manufacturing execution system (MES) market to grow significantly in the North America region. The major reason behind the market growth is growing adoption of big data analytics by several organizations in Canada and the U.S. The recent study conducted by the Dresner Advisory Services’ states that, around 55% of North American organizations have already adopted big data analytics to enhance their operational efficiency. Increasing use of the Internet of Things in the production process is further expected to spur the growth of the manufacturing execution system (MES) market in North America. Manufacturing companies in North America are more certain about connecting their factory floor operations with the cloud technology and a tendency of early implementation of the Internet Of Things could give them a competitive advantage.
With the establishment of a fourth industrial revolution in Germany, Europe has gained a substantial momentum in the next-generation production technology and this factor is primarily driving the growth of the manufacturing execution system (MES) market in Europe. Industry 4.0 for predictive maintenance will essentially change the nature of the industrial landscape in Europe which ultimately is expected to drive the adoption of manufacturing execution system in Europe. Germany’s Federal Ministry for Economic Affairs and Energy states that the growing adoption of Industry 4.0 will help the country’s economy to grow to USD 175.14 billion by 2020.
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The Asia Pacific is expected to have the highest growth rate in the global manufacturing execution system (MES) market. The adoption of manufacturing execution system in the Asia Pacific will gain traction due to the adoption of the Internet Of Things in the various processes and discrete industries. Adoption of new technologies, a huge amount of data deluge, increasing necessity of automation, and rise in SME’s in the Asia Pacific are the factors contributing to the growth of the manufacturing execution system (MES) market in this region.
Latin America is expected to witness moderate growth in manufacturing execution system (MES) market during the forecast period. Increasing popularity of industrial internet of things (IIoT) is one of the major factors that will help manufacturing execution system (MES) market to grow in Latin America. Growing competition among the major manufacturing players leading to efficient manufacturing practices will encourage these players to adopt IoT in their production processes.
Browse the full "Manufacturing Execution System (MES) Market By Function (Quality Analysis, Document Control, Inventory Management, Production Tracking, Production Performance Analysis, Resource Allocation, And Others), By Process Industry (Oil And Gas, Food And Beverages, Chemical, Power And Energy, And Others), and By Discrete Industry (Automotive, Consumer Electronics, Aerospace And Defense, Metal And Mining, And Others): Global Industry Perspective, Comprehensive Analysis, And Forecast, 2017 – 2024" report at https://www.zionmarketresearch.com/report/manufacturing-execution-system-mes-market
Major players operating in the global manufacturing execution system (MES) market are Schneider Electric S.A., SAP, Werum Software and Systems, Siemens AG, Rockwell Automation Inc., General Electric Co. (GE), Eyelit Inc., Operator System Aps, Honeywell International Inc., Emerson Electric Co., Apriso Corporation, Andea Solutions, ABB Ltd., and others.
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The report segments the global manufacturing execution system (MES) market as follows:
Global Manufacturing Execution System (MES) Market: Function Segment Analysis
- Quality Analysis
- Document Control
- Inventory Management
- Production Tracking
- Production Performance Analysis
- Resource Allocation
- Others
Global Manufacturing Execution System (MES) Market: Process Industry Segment Analysis
- Oil and Gas
- Food and Beverages
- Chemical
- Power and Energy
- Others
Global Manufacturing Execution System (MES) Market: Discrete Industry Segment Analysis
- Automotive
- Consumer Electronics
- Aerospace and Defense
- Metal and Mining
- Others
Global Manufacturing Execution System (MES) Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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