Manufacturing Execution System Market and its Key Opportunities and Challenges - Exclusive Report by MarketsandMarkets™
CHICAGO, Nov. 22, 2019 /PRNewswire/ -- The report "Manufacturing Execution System Market by Deployment Type (On-Premises, On-Demand, and Hybrid), Offering (Software and Services), Process Industry (Food & Beverages, Oil & Gas), Discrete Industry (Automotive, Medical Devices) - Global Forecast to 2022", published by MarketsandMarkets™, was valued at USD 7.63 Billion in 2015 and is expected to reach USD 18.22 Billion by 2022, at a CAGR of 13.6% between 2016 and 2022. A key demand drivers for this market are low deployment cost leading to effective ROI, increasing use of industrial automation in process & discrete industries, high adoption of MES owing to growing benefits in process and discrete industries, and the growing importance of regulatory compliance.
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The software market likely to hold a sizable chunk of the global manufacturing execution system market share
The software market is expected to hold a large percentage of the global manufacturing execution system industry. The increasing level of automation at industrial plants requires software to save time by monitoring and analyzing the performance data, improving the quality of the production, and reducing production time and waste. The services market is expected to grow at the highest rate between 2016 and 2022 as the significant functioning of MES is primarily depended on the post-implementation process, which includes software upgrades and updating according to the specific requirement of the customer.
The market for on-premises, on-demand and hybrid deployment type is expected to grow at high CAGR
The demand for the on-premises deployment type accounted for the largest share of the manufacturing execution system market in 2015. The security and control over data and access to the limited number of people are increasing the adoption of on-premises deployment type across industries such as automotive, food and beverages, oil and gas, chemicals, and pharmaceuticals, among others. The market for on-demand and hybrid deployment type is expected to grow at a high CAGR between 2016 and 2022. The low cost of deployment, no requirement of capital expenditure, hardware/software maintenance, or tech support as it is provided through a third-party service provider is increasing its adoption among small and medium-sized companies.
The pharmaceuticals and life sciences industry is expected to dominate the market
The pharmaceuticals and life sciences industry is expected to dominate the market during the forecast period. The growing cost pressures, regulatory, and safety guidelines, as well as increasingly diverse product portfolios, have resulted in the high adoption of MES in this industry. The food and beverage industry is expected to grow at the highest rate in the global manufacturing execution system market. The players in the food and beverage industry are majorly focusing on offering technologically advanced and high-quality products while keeping the production costs to a minimum. Thus, there is a growing demand for manufacturing execution systems in the food and beverage industry.
Automotive industry to move at the highest rate
The automotive industry is expected to dominate and grow at the highest rate in the manufacturing execution system market in 2016. The automotive sector is one of the early adopters of manufacturing execution systems to remain competitive in the market. The use of manufacturing execution systems helps the industry to save time during assembling, resulting in increased productivity.
North America holds the largest share
North America held the largest share of the manufacturing execution system market during the forecast period. The market in APAC is expected to grow at the highest rate in the overall manufacturing execution system market during the forecast period. The major driving factors for the growth of the APAC market include the increase in the number of manufacturing plants in various sectors such as automotive, power, and pharmaceuticals, where MES is much in demand. Moreover, China and India are considered to be the growth engines for the MES market in APAC.
Browse in-depth TOC on "Manufacturing Execution System Market"
69 – Tables
94 – Figures
187 – Pages
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The major players involved in the manufacturing execution system market include ABB Ltd. (Switzerland), Andea Solutions (Poland), Dassault Systemes SA (France), Emerson Electric Co. (U.S.), General Electric Company (U.S.), Honeywell International Inc. (U.S.), Rockwell Automation, Inc. (U.S.), SAP AG (Germany), Schneider Electric SE (France), Siemens AG (Germany), and Werum IT Solutions GmbH (Germany).
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