Chicago, Nov. 22, 2022 (GLOBE NEWSWIRE) — The report “Manufacturing Execution System Market by Offering (Software, Services) Deployment Mode (On-Premise, On-Demand, Hybrid), Process Industry (Food & Beverages, Oil & Gas, Chemicals, Pulp & Paper, Pharmaceuticals & Life Sciences, Energy & Power, Water & Wastewater Management, Others), Discrete Industry (Automotive, Aerospace, Medical Devices, Consumer Packaged Goods, Others) – Global Forecast to 2028” states that, The manufacturing execution system market is projected to grow from USD 12.5 billion in 2021 and is projected to reach USD 20.7 billion by 2028; it is expected to grow at a CAGR of 8.80% from 2022 to 2028.
Increased demand from the pulp and paper industry, increased focus on improvements in industrial design, and the need to attain production efficacy will emerge as the main market growth driving factors. The market value will be further hurt by expanding government initiatives to increase public awareness and build advantageous regulations, the soaring need for real-time visibility, the increasing need for automation in the oil and gas industries, and broad industrialization. The market will keep growing due to rising R&D costs, simple availability of resources, low production costs in emerging nations, and escalating consumer demand for the best possible resource utilization.
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- In July 2022, ABB and SKF, a Swedish manufacturer of bearings and seals, had a Memorandum of Understanding (MoU). This Memorandum of Understanding would examine the potential for cooperation in the automation of manufacturing processes. As part of the agreement, SKF and ABB would look for and evaluate ways to improve manufacturing production and assist clients in having more efficient production processes.
- In September 2021, a renowned producer of electrical and electronic equipment, C&S Electric Limited, was acquired by Siemens. This acquisition aimed to concentrate on power generation and distribution, automation and digitalization in the procedure and manufacturing sectors, and intelligent infrastructure for buildings and distributed energy systems.
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Manufacturing Execution System Market Dynamics: Drivers, Restraints, Opportunities
Drivers: Increasing demand for massive production and a connected supply chain
Restraints: High-cost installation & maintenance
Opportunities: Increasing MES investment to improve energy efficiency and sustainable production
|Forecast Period 2021 to 2028 CAGR||8.80%|
|2028 Value Projection||20.7 billion|
|Market Size in 2021||12.5 billion|
|Historical Data for||2018 – 2021|
|No. of Pages||188|
|Segments covered||By Offering, By Deployment Mode, By Process Industry, By Discrete Industry|
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List Of Key Companies in Manufacturing Execution System Market:
- ABB LTD
- Tebis Technische Informations syteme AG
- Werum IT Solutions Gmbh
- Dassault Systems
- Rockwell Automation Inc.
- Honeywell International Inc.
- Emerson Electric CO.
- General Electric Company
- Siemens AG
- Andea Solutions
- Oracle Group
- Siemens AG
- Samsung Group of Companies
Increasing demand for massive production and a connected supply chain
The need for a connected supply chain in industrial industries is one of the key drivers of the manufacturing execution system market. Effective data transmission across the business is crucial for enabling effective manufacturing activities. Factories could use IoT systems to track inventory, report on the supply chain, and locate manufactured goods. Another advantage of connected manufacturing solutions is the straightforward data flow throughout the entire supply chain, which makes it easy for businesses to adjust to the changing market conditions.
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Segmentation of Global Manufacturing Execution System Market-
Global Manufacturing Execution System Market – By Offering
Global Manufacturing Execution System Market – By Deployment Mode
Global Manufacturing Execution System Market – By Process Industry
- Food & Beverages
- Oil & Gas
- Pulp & Paper
- Pharmaceuticals & Life Sciences
- Energy & Power
- Water & Wastewater Management
Global Manufacturing Execution System Market – By Discrete Industry
- Medical Devices
- Consumer Packaged Goods
The service category in the manufacturing execution system market is expected to be the fastest-growing segment during the forecast period
The service category is projected to grow the fastest during the forecast period. The primary element propelling the expansion of the segment market is the increasing significance of the global post-implementation procedure of several industrial execution systems. Other factors anticipated to drive the growth and demand for the services segment over the forecast period include improved efficiency, decreased waste, and shorter output times in the manufacturing process of various applications, including food & beverages, pharmaceuticals, and consumer packaged goods.
Pharmaceuticals & life sciences category of the manufacturing execution system market to record the highest CAGR from 2022 to 2028
Pharmaceuticals & life sciences category is expected to account for the highest CAGR of the manufacturing execution system market from 2022 to 2028. The expanding prevalence of constantly shifting market dynamics and the rising necessity for manufacturers to adapt their manufacturing processes to meet growing consumer needs are key factors projected to promote segment growth at a healthy growth rate over the coming years. Increased manufacturers’ efforts to comply with the EU Falsified Medicine Directive and other international legislation through adopting cutting-edge technology and expanding resources for managing administrative load are also projected to contribute considerably to the segment’s growth.
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Asia Pacific is anticipated to grow at a significant rate in manufacturing execution system market share from 2022 to 2028
Asia Pacific is the fastest-growing region in the manufacturing execution system market due to growing technological investments in the production of industrial tools and machinery, the growth and expansion of the semiconductor sector, and rising demand from the chemical and automotive industries. Due to their growing investments in R&D activities, China and India are the two nations in the Asia Pacific region developing the fastest. Additionally, the market is expected to increase significantly over the next several years due to increasing industry knowledge of execution systems for manufacturing processes. Furthermore, China is making significant investments in using AI in the pharmaceutical industry, accelerating the market expansion rate. Another factor driving the market’s expansion is the rise in manufacturing facilities across various industries, including those that depend heavily on manufacturing execution systems, such as the automotive, textile, power, and pharmaceutical industries.
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