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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AUTOCANADA ANNOUNCES PROMOTIONS AND EXPANDS LEADERSHIP TEAM
AutoCanada Inc. (“AutoCanada” or the “Company”) (TSX: ACQ), a multi-location North American automobile dealership group, announced key promotions and additions to its leadership team.
Jeff Thorpe, who joined the Company as President, Canadian Operations in April 2022, will have responsibility for all operations in North America as President, North American Operations. Brian Feldman, who joined as Senior Vice President, Canadian Operations and Disruptive Technologies in April 2022, has been appointed as Chief Operating Officer of the Company.
“Jeff and Brian have proven themselves over the last year and have been instrumental in driving our strong performance through their focus on operational initiatives in Canada. We are very pleased to provide Jeff with the increased responsibility of oversight over our U.S. operations, in addition to Canadian operations, and to appoint Brian as the Chief Operating Officer of the Company,” said Paul Antony, Executive Chairman of the Company.
In addition, Drew Forret will be appointed as Chief Administrative and Transformation Officer and Michael Fera will join as Vice President, Financial Planning and Analysis, each effective in the fourth quarter of 2023. These new roles will support the Company’s renewed focus on fiscal discipline.
“We are very excited to welcome Drew and Michael to the AutoCanada team. Drew and Michael’s significant and proven experience in driving high-performance business cultures with scalable best practices and fiscal discipline will be invaluable for AutoCanada as we continue on the next leg of our journey,” said Mr. Antony.
Drew has over 20 years of experience focusing on the leadership and scaling of growth-based organizations. He most recently held the position of Chief Operating Officer and Chief Financial Officer of Voices, a platform that connects businesses with professional voice talent. Prior to Voices, Drew was the Chief Operating Officer and Chief Financial Officer of CarProof, a provider of vehicle history reports, and President of Activplant, an originator of manufacturing intelligence software. Michael has over a decade of experience in financial planning and analysis. He joins us from Tim Hortons, Canada’s leading quick-service restaurant chain, where he served as Head of Finance for the Canadian business. In addition, Michael held several operational roles spanning development, franchising, non-traditional business and real estate during his tenure with Tim Hortons.
Huawei’s Brand-New Digital and Intelligent Foundation Upgrades Aviation and Rail Industries
SHANGHAI, Sept. 25, 2023 /PRNewswire/ — In parallel with HUAWEI CONNECT 2023, Huawei’s Aviation & Rail BU held three global summits specifically oriented to the BU’s niche.
Using an upgraded digital and intelligent foundation, Huawei dives deep into a wide variety of industry scenarios and expedites the intelligent development of aviation and rail through multi-dimensional awareness, ubiquitous connectivity, and open platforms.
China West Airport Group (CWAG) chose Huawei to jointly develop a comprehensive intelligent transformation strategy.
According to Lin Bin, CWAG’s Deputy General Manager, his company has created 35 intelligent solutions for security, operations, services, and other scenarios using Huawei’s high-performance computing power and open intelligent platforms, as well as advanced algorithms for the industry.
For airport operations, digital and intelligent ground handling solutions forecast the real-time status of flights, passengers, and resources, as well as promptly generating warnings. They also intelligently dispatch ground handlers as needed. The solutions increase ground support efficiency by 20% and shorten the time support takes by 17%. In addition, smart airport operation solutions have introduced the optimal flight plan result model to achieve best supply-demand matching and AI-assisted operation command.
Ever-evolving technologies have brought both challenges and opportunities to enterprise digital transformation and intelligent upgrade. Li Junfeng, Vice President of Huawei and CEO of Huawei’s Aviation & Rail BU, delivered an opening speech at the global railway summit. He explained that as GSM-R gradually exits the market, the railway industry requires a next-generation mobile communications system to ensure efficiency and benefits, as well as maintain high-quality development. In response, Huawei is thinking about how it can leverage AI to better serve the railway industry, and have built practices and made remarkable achievements during its journey.
Huawei teamed up with Huitie Technology to develop the Smart Railway TFDS Solution, which uses the Pangu Railway Model with 3 billion parameters. The solution covers all TFDS scenarios and effectively identifies over 430 types of faults on 67 vehicle models with a comprehensive fault identification rate exceeding 99.3%. It ensures near-zero missed inspections for critical faults and triples the operational efficiency.”
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Hexagon’s Sixth Sense Announces Nine Startups to Transform Manufacturing Sustainability and Digital Reality
Selected innovators leading the charge in reshaping manufacturing for a sustainable future
COBHAM, England, Sept. 25, 2023 /PRNewswire/ — Today, Hexagon’s Manufacturing Intelligence division announced the nine manufacturing startups chosen for its third Sixth Sense cohort. The selected companies were chosen from a highly competitive pool of hundreds of applicants, distinguishing themselves with groundbreaking solutions addressing critical manufacturing challenges, with a focus on sustainability and digital reality.
The selected startups, which hail from seven countries, bring unique approaches to some of today’s most critical manufacturing challenges, such as improving product sustainability, eliminating waste, capturing real-time data, automating design, and incorporating cobots into production lines. As part of the Sixth Sense program, they will gain access to Hexagon’s invaluable market insights, accumulated over decades of collaboration with industry-leading technology giants, which will accelerate their journey to commercial success.
Hexagon, the industrial software leader that plays a pivotal role in manufacturing 90% of aircraft, 75% of smartphones, and 95% of all automobiles worldwide, launched Sixth Sense in January 2022. This initiative is designed to nurture startups within the manufacturing industry by supporting them with Hexagon’s extensive resources.
The nine startups are:
Acerta Analytics, Canada: Acerta Analytics provides advanced analytics solutions that leverage machine learning and artificial intelligence (ML/AI) to turn complex product data into actionable insights. The solution enables automakers and suppliers of complex vehicle parts to improve quality in manufacturing processes and supports early defect detection.Circularise, Netherlands: Circularise offers digital product passports for end-to-end traceability and secure data exchange in industrial supply chains. Its technology helps companies achieve transparency and sustainability by tracking the lifecycle of products and materials.Dessia, France: Dessia offers a platform featuring virtual “bots” that serve as companions to assist engineers in designing mechanical systems. These virtual assistants provide support and insights throughout the design process.Flexxbotics, Boston, US: Flexxbotics specialises in enabling high-mix automation-intensive manufacturers to create flexible next-generation machining environments. It utilises breakthrough FlexxCORE™ technology to seamlessly connect and coordinate collaborative robots with existing automation equipment, IT systems, and personnel to deliver autonomous process control.Launchpad, Los Angeles, US: Launchpad utilises AI and advanced simulation technologies to automate aspects of the design, procurement, and manufacturing process. Its focus is on concepts like mass customization, micro-factories, and software-defined robotics to create shorter supply chains, reduce waste, and deliver new features faster in the manufacturing industry.Rafinex, Luxembourg: Rafinex’s stochastic AI topology optimization for safe, lightweight designs. This technology actively manages uncertainty and risks of real-life variability to create uniquely robust designs that remain safe even in off-design load conditions for application in safety-critical performance sectors such as aerospace, automotive, and tooling.RV Magnetics, Slovakia: RV Magnetics has developed the world’s smallest passive sensor based on MicroWire technology. This sensor combines unique capabilities from electromechanics, electronics, chemistry, physics, applied magnetism, and industrial design, offering diverse applications.ToffeeAM, London, UK: ToffeeAM provides state-of-the-art multi-physics generative design software for engineering. Its mission is to empower engineers to optimise engineering components and systems efficiently, enabling them to go further and faster in design processes.Zaptic, Manchester, UK: Zaptic provides job instruction and collaboration tools for frontline teams, along with a no-code toolkit designed to accelerate the digital transformation of daily operations. The solutions help organizations streamline processes and improve communication among frontline workers.These startups will embark on an intensive 16-week journey as part of the Sixth Sense program, collaborating closely with Hexagon to refine their offerings. Ultimately, up to three winners will be selected from the cohort, granting them access to Hexagon’s extensive resources for global expansion, including potential funding, worldwide office space, and Hexagon’s comprehensive suite of products and services. Additionally, they will be showcased on Hexagon’s open digital reality platform for manufacturing, Nexus, providing them access to world-class companies.
“For this third cohort, we’ve been on the hunt for new innovations that enable manufacturing leaders to lead the net-zero transition – especially with sustainable product design – and we’re thrilled with the caliber of the startups we’ve found to participate,” said Josh Weiss, president of Hexagon’s Manufacturing Intelligence division. “Sixth Sense is designed to pinpoint emerging opportunities for greater innovation, and we’re thrilled to give these companies that are poised for high-growth access to resources and customers that they typically wouldn’t have at this stage in their lifecycle.”
“Hexagon’s commitment to nurturing innovation and driving sustainable manufacturing practices continues to shine through,” said Milan Kocić, head of Sixth Sense, Hexagon. “Each of these startups has demonstrated their capacity to address pressing manufacturing challenges with creativity and determination. Much like our previous cohorts have addressed critical industry challenges, we believe these innovators will play a crucial role in shaping a sustainable future for the manufacturing industry.”
About Sixth SenseHexagon technologies are used to manufacture 90% of aircraft, 75% of smartphones, and 95% of every automobile produced worldwide. It has the scale, the network, and the ambition to make a difference. As we enter the era of Industry 4.0, Sixth Sense was launched to discover smart and efficient solutions that will boost performance and benefit people and the planet. By inviting the next generation of innovators to the table, Hexagon aims to share its resources and make connections that accelerate progress – pushing the boundaries of design, manufacturing, and engineering and starting to imagine a better future for the benefit of everyone. To follow Sixth Sense, and learn about the ecosystem and opportunities for participation, visit https://sixthsense.hexagon.com/.
About HexagonHexagon is the global leader in digital reality solutions, combining sensor, software and autonomous technologies. We are putting data to work to boost efficiency, productivity, quality and safety across industrial, manufacturing, infrastructure, public sector, and mobility applications.
Our technologies are shaping production and people related ecosystems to become increasingly connected and autonomous – ensuring a scalable, sustainable future. Hexagon’s Manufacturing Intelligence division provides solutions that use data from design and engineering, production and metrology to make manufacturing smarter. For more information, visit hexagon.com/mi.
Hexagon (Nasdaq Stockholm: HEXA B) has approximately 24,000 employees in 50 countries and net sales of approximately 5.2bn EUR. Learn more at hexagon.com and follow us @HexagonAB.
View original content:https://www.prnewswire.co.uk/news-releases/hexagons-sixth-sense-announces-nine-startups-to-transform-manufacturing-sustainability-and-digital-reality-301936427.html
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