Pune, India., June 29, 2023 (GLOBE NEWSWIRE) -- According to our latest study on “Manufacturing Execution System Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Component, Deployment, Industry Type, and Geography,” the manufacturing execution system market was valued at US$ 11,880.90 million in 2021 and is projected to reach US$ 24,286.32 million by 2028; it is expected to grow at a CAGR of 10.8% from 2021 to 2028. The need for operational efficiency, and growing need for connected supply chains in different manufacturing industries across the globe. However, the high initial expenditure is expected hinder the growth of the market.
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In the North America region, the United States (US) holds a dominant position in the manufacturing execution system (MES) market. The US market's dominance can be attributed to several factors, including its robust industrial sector, technological advancements, and widespread adoption of MES solutions.
The United States has a highly developed and diverse industrial base across various sectors, such as automotive, aerospace, electronics, pharmaceuticals, and consumer goods. These industries strongly focus on operational efficiency, quality control, and compliance, creating a significant demand for MES solutions. US manufacturers are keen to optimize their production processes, reduce costs, and improve productivity, leading to a higher adoption rate of MES software. The US's large market size and industrial strength contribute to its dominance in the MES market.
The US is a global leader in technological advancements, particularly in software development and automation. The country has a thriving ecosystem of technology companies, research institutions, and startups that continuously drive innovation in the MES space. US-based MES solution providers offer cutting-edge software solutions that leverage emerging technologies such as artificial intelligence, cloud computing, and the Internet of Things. These advanced MES solutions attract domestic manufacturers and contribute to the market's domination by the US.
Moreover, the US business environment fosters innovation, entrepreneurship, and a culture of early technology adoption. The country encourages investment in research and development, providing companies with the resources and incentives to develop and implement MES technologies. The US regulatory framework also emphasizes quality standards, traceability, and compliance, creating a conducive environment for adopting MES solutions to meet regulatory requirements.
Furthermore, the US market benefits from a strong network of system integrators, consultants, and service providers who support MES solutions' implementation, customization, and ongoing support. These service providers offer expertise in deploying MES software, ensuring seamless integration with existing systems, and optimizing its functionalities according to industry-specific needs. The availability of comprehensive services further strengthens the US market's dominance in the MES space.
Integration of MES with Emerging Technologies, Provides Lucrative Opportunities for Manufacturing Execution System Market:
Integrating Manufacturing Execution Systems (MES) with emerging technologies presents a significant opportunity for market growth. By combining MES with emerging technologies such as the Industrial Internet of Things (IIoT), companies can unlock new levels of efficiency, productivity, and innovation in their manufacturing processes.
Integrating MES with IIoT enables seamless connectivity and data exchange between machines, devices, and systems throughout the manufacturing environment. This integration allows for real-time data collection, monitoring, and analysis, providing manufacturers valuable insights into their operations. Access to accurate and up-to-date information allows companies to make data-driven decisions, optimize production processes, and improve overall efficiency. This increased efficiency translates into cost savings, higher productivity, and improved customer satisfaction, contributing to market growth.
The integration of MES with emerging technologies enhances supply chain visibility and collaboration. By connecting MES with IIoT-enabled devices, manufacturers can track inventory levels, monitor production status, and exchange real-time data with suppliers, customers, and partners. This visibility facilitates better coordination, demand forecasting, and inventory management, leading to streamlined operations, reduced lead times, and improved customer service. The ability to offer a more agile and responsive supply chain gives companies a competitive edge, attracting more customers and driving market growth.
Furthermore, integrating MES with emerging technologies opens up advanced automation and intelligent decision-making opportunities. Manufacturers can automate routine tasks, optimize production schedules, and proactively identify and address issues by leveraging technologies such as artificial intelligence (AI) and machine learning (ML). The combination of real-time data from MES with AI and ML algorithms enables predictive maintenance, proactive quality control, and optimized resource allocation. This level of automation and intelligent decision-making leads to improved operational efficiency, reduced downtime, and increased overall productivity, fostering market growth.
Additionally, integrating MES with emerging technologies supports the growing emphasis on sustainability and environmental stewardship. By leveraging IIoT and data analytics, manufacturers can monitor energy consumption, track waste generation, and identify areas for improvement. This information allows companies to implement eco-friendly practices, reduce waste, and achieve sustainability goals. This alignment with sustainability objectives helps companies enhance their reputation, meet regulatory requirements, and appeal to environmentally conscious customers, contributing to market growth.
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Global Manufacturing Execution System Market: Segmental Overview
Based on component, the manufacturing execution system market is segmented into software and services. The software segment held the largest share of the market in 2020, whereas the services segment is anticipated to register the highest CAGR in the market during the forecast period. Based on deployment, the manufacturing execution system market is segmented into cloud and on-premise.
The on-premise segment held the largest share of the manufacturing execution system market in 2020, whereas the cloud segment is anticipated to register the highest CAGR in the market during the forecast period. Based on industry type, the manufacturing execution system market is segmented into process industry and discrete industry. The discrete industry segment held the largest share of the market in 2020, whereas the process industry segment is estimated to register the highest CAGR in the market during the forecast period.
Global Manufacturing Execution System Market Analysis: Competitive Landscape and Key Developments
42Q; AVEVA Group plc; Dassault Systèmes SE; EAZYWORKS INC.; Emerson Electric Co.; General Electric Company; Honeywell International Inc.; Oracle Corporation; SAP SE; and Rockwell Automation, Inc. are a few of the key companies operating in the manufacturing execution system market. The market leaders focus on new product launches, expansion and diversification, and acquisition strategies, which allow them to access prevailing business opportunities.
In October 2022, Vayo Technology held the online unveiling of their innovative DFX Execution System. DFX Execution System is an advanced DFX analysis software application developed for major OEM/EMS firms to do DFX analysis in order to assure high-quality PCB/PCBA layout
In November 2021, Rockwell Automation, a leading global service provider, launched its new remote access solutions with robust security capabilities and multi-factor authentication with encrypted protocols. It will help to fulfill current and future remote access requirements around the globe.
In May 2021, Siemens AG, launched its new Opcenter Execution Discrete 4.1, which comes with powerful MES capabilities, synchronized production processes for the management of optimal supply chain, and complete integrations of regulatory and various quality requirements. The new product enables the company to reduce operation and maintenance costs as well.
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