The Manufacturing Execution System Market Size, Growth driven by the growing usage of technology and automation in the manufacturing sector, the wide-scale adoption of Industry 4.0 worldwide and high degree of integration with other solutions.
NEW YORK, March 18, 2022 /PRNewswire/--The Insight Partners published latest research study on "Manufacturing Execution System Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Software and Services), Deployment (Cloud and On-Premise), and Industry Type (Process Industry and Discrete Industry)", the global manufacturing execution system market was valued at $11.88 Bn in 2021 and is projected to reach $24.28 Bn by 2028; it is expected to grow at a CAGR of 10.8% from 2021 to 2028.
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Report Coverage | Details |
Market Size Value in | US$ 11,880.90 Million in 2021 |
Market Size Value by | US$ 24,286.32 Million by 2028 |
Growth rate | CAGR of 10.8% from 2021 to 2028 |
Forecast Period | 2021-2028 |
Base Year | 2021 |
No. of Pages | 188 |
No. Tables | 97 |
No. of Charts & Figures | 90 |
Historical data available | Yes |
Segments covered | Component, Deployment, and Industry Type |
Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Manufacturing Execution System Market: 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 key players profiled during the study of the global Manufacturing Execution System market. In addition, several other essential market players were studied and analyzed to get a holistic view of the market and its ecosystem.
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In November 2021, AVEVA launched the Vision AI Assistant 2021, an image classification-based analytics tool. The AI solution is currently integrated into AVEVA Insight and System Platform and Operations Management Interface, and the extension is expected to strengthen its position as a market leader in innovation.
In September 2018, Fabbriica Italiana Sintetici (FIS), a leading active pharmaceutical ingredients manufacturer, selected Emerson to digitize operations and work processes at three manufacturing across Italy. The development led to Emerson's strong relationship with FIS and expanded the company's presence in Europe.
In response to the modern security threats, manufacturers are focused on improving the capabilities of MES with the integration of state-of-the-art technologies, such as artificial intelligence (AI), to analyze large volumes of data quickly. The AI supports quick mathematical calculations to augment the vital capabilities of human intelligence and detect threats such as anomalies, outliers, and patterns effortlessly with a less skilled workforce. Many MES service providers have integrated their existing solutions with AI to enhance their analytical and incident response abilities. With the surge in end users expectations regarding user behavior and threat detection capabilities, the integration of existing MES with advanced analytical technologies is driving the growth of the manufacturing execution system market.
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Manufacturing Execution System Market: Component Overview
Based on component, the manufacturing execution system market is segmented into software and services. In 2021, the software segment led the manufacturing execution system market and accounted for a larger market share. It is expected to continue its dominance over the forecast period. Manufacturing execution system is designed and built for manufacturing operations. Most manufacturing companies use a planning process, such as manufacturing resource planning or enterprise resource planning, to determine which products are to be manufactured. The manufacturing execution systems reduces work-in-process inventory, reduces manufacturing cycle time, improves product quality, reduces eliminates data entry time, and many others. Such factors drive the global manufacturing execution system market.
Impact of COVID-19 Pandemic on Manufacturing Execution System Market:
The tremendous spread of the COVID-19 pandemic had urged governments worldwide to impose strict vehicles and human movement restrictions. Due to travel restrictions, mass lockdowns, and business shutdowns, the COVID-19 pandemic affected economies and countless manufacturing and production industries in various countries. The lockdown imposition had reduced the production of commodities, goods, and services.
In 2020, the COVID-19 pandemic adversely affected the global economies, leading to many challenges. Several manufacturing industries were temporarily closed due to lockdowns, which reduced the demand for manufacturing execution system (MES) solutions globally. According to the World Manufacturing Production Statistics by the United Nations Industrial Development Organization (UNIDO), for the second quarter (April-June) in 2020, manufacturing output decreased by 11.2% compared to the same quarter in 2019. China has recorded a greater drop (1.6%) than industrialized economies in the US and Europe, wherein value-added in 2020 plummeted by 15% and 14.3%, respectively. Therefore, as the MES solutions are directly proportional to manufacturing activities, the manufacturing execution system market was adversely affected by the COVID-19 pandemic.
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Relaxations in lockdown restrictions led to the resumption of manufacturing businesses, with upgraded and improved supply chains, which further propelled the use of MES. The rise in the demand for MES in 2022 due to their increasing applications in manufacturing industries and the rising use of artificial intelligence (AI)-based high-tech products in these industries are driving the market growth.
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