“Manufacturing execution system market to grow at a CAGR of 14.3% from 2019 to 2024”
The manufacturing execution system market is expected to grow from USD 11.8 billion by 2019 to USD 23.0 billion by 2024 at a CAGR of 14.3% from 2019 to 2024. A few key factors driving the growth of this market include increasing use of industrial automation in process and discrete industries, growing importance of regulatory compliance, and low deployment cost of MES solutions.
“Manufacturing execution system market for on-premise deployment to hold larger share during forecast period”
The manufacturing execution system market for on-premise deployment holds a larger share during the forecast period. The on-premises model enables manufacturers to host applications within the office premises. Unlike the on-demand model, the on-premises model is dedicated to only one organization. In this deployment type, the user has to bear the cost of purchasing and maintaining the software and infrastructure. It offers hosted services to a limited number of people within a firewall, thereby minimizing security concerns.
“Manufacturing execution systems for discrete industry in automotive is expected to hold largest share during forecast period”
The manufacturing execution system market for automotive is expected to hold the largest market share during the forecast period. The intense competition in the automobile industry has led to an increase in innovations and technologies in automobiles. The automotive sector has been witnessing rapid changes in manufacturing technologies. Most of the functions such as inventory management, performance analysis, design process, and supply chain management, which are time-consuming when carried out manually, can be automated with the help of manufacturing execution systems.
“APAC to witness highest CAGR in manufacturing execution system market during forecast period”
The APAC region is expected to grow at the highest CAGR in the manufacturing execution system market during the forecast period. The demand for manufacturing execution systems is very high in APAC for implementing the change from manual or legacy systems to automated systems. The MES market in China is expected to grow mainly due to the increasing number of manufacturing units in the country, which is expected to create huge demand for MES software. Another reason for the growth of the MES market in APAC is the increase in the number of manufacturing plants in various sectors such as automotive, textiles, power, and pharmaceuticals where manufacturing execution systems are in high demand. China and India are considered to be the growth engines for the MES market in APAC.
Breakdown of the profile of primary participants:
- By Company Type: Tier 1 = 31%, Tier 2 = 37%, and Tier 3 = 32%
- By Designation: C-Level Executives = 45%, Directors = 36%, Others = 19%
- By Region: North America = 32%, Europe = 30%, APAC = 24%, and RoW = 14%
Honeywell International, Inc. (US), Rockwell Automation, Inc. (US), AVEVA plc (UK), Siemens AG (Germany), Dassault Syst?mes (France), SAP SE (Germany), ABB Ltd. (Switzerland), and Werum IT Solutions GmbH (Germany) are among a few major players in the manufacturing execution system market.
The manufacturing execution system market has been segmented into offering, deployment, process industry, discrete industry, and region. Based on offering, the manufacturing execution system market has been segmented into software and services. Based on deployment, the market has been segmented into on-premise, on-demand, and hybrid.
Based on process industry, the market has been segmented into food & beverages, oil & gas, chemicals, paper & pulp, pharmaceutical & life sciences, energy & power, water & wastewater management, and others. The manufacturing execution system market study has been segmented based on the discrete industry into automotive, aerospace & defense, medical devices, consumer packaged goods, and others. Based on the region, the market has been segmented into North America, Europe, APAC, and RoW.
Reasons To Buy Report
The report would help market leaders/new entrants in the following ways:
- This report segments the manufacturing execution system market comprehensively and provides the closest approximations of the overall market size, as well as that of the subsegments across different offering, deployment, process industry, discrete industry, and region.
- The report helps stakeholders understand the pulse of the market and provides information on key market drivers, restraints, challenges, and opportunities.
- This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, product launches and developments, acquisitions, mergers, partnerships, and collaborations in the manufacturing execution system market.