Press release
Manufacturing Execution System Market is expected to reach US$ 24,286.32 Million by 2028
The Insight Partners
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Key Companies:
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.
The enterprises recognize manufacturing competency as a critical factor to stay competitive in the market, resulting in the high adoption of manufacturing execution system (MES) solutions at a greater priority. Further, some enterprises consider product quality as an essential factor in the manufacturing systems strategy, thereby looking for the advantages of integrating quality compared to keeping quality as a different system and process. Thus, the factors mentioned above are boosting the adoption of MES.
In the present scenario, the players in the manufacturing execution system market are focused on offering more industry-specific solutions, which signifies the availability of ideal solutions as per an enterprise's specific needs. Further, it eliminates the requirement for costly tailored extensions to commercial products, and the availability of off-the-shelf functionality in MES is creating profitable opportunities for the growth of the manufacturing execution system market.
The advent of industry 4.0, which enables manufacturing at low-cost, better quality, and faster processing, has further created an unclear scenario among enterprises regarding the concept. Further, customers demand customized products at competitive prices, which stimulates manufacturing companies to adopt industry 4.0. Various technologies are gaining traction among manufacturers, such as the internet of things (IoT), cloud storage, mobile computing, advanced analytics, robotics, and machine learning. All these technologies require a system that can efficiently connect and coordinate.
Several ERP providers are focused on the Internet of Things (IoT) and the ability to form communication connections between various systems and devices. The MES help improve communications between decision-makers and machines or equipment, as they can directly extract precise data from manufacturing equipment and share them with the ERP systems without human intervention. These data may include quantities of items manufactured and materials consumed and qualitative data related to items produced, yield losses, and quantities approved/non-approved after quality tests. Thus, the integration of MES with other systems installed in manufacturing plants helps reduce time spent on the manual sharing production data to the ERP systems, alongside ensuring the accuracy of data recorded. Therefore, the high degree of integration with other solutions offers opportunities for manufacturing execution system market.
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Market Insights - Manufacturing Execution System Market
Growing Implementation of Technology and Automation in Manufacturing Sector Drives Market Growth
The end-to-end industrial and manufacturing environment is becoming intelligent, smart, and connected in the current business settings. New forms of discrete and process manufacturing of sensors, connected objects, and smart machines have emerged and changed the ecosystem on how exchanges and collaborations occur between people, machines, data, and technologies. . The modern digitalized plants supporting smart manufacturing rely heavily on collecting, sorting, and analyzing data and information, and extracting business values from them.
The increasing adoption of Industry 4.0 has further underlined the need for an advanced MES. Industry 4.0 creates an interoperability platform between operations and information technology, enabling various equipment, products, and materials to communicate through embedded electronics. The MES manages and monitors work progress in a manufacturing facility and delivers a robust base to build the industry 4.0 application. Therefore, the growing usage of technology and automation in the manufacturing sector and the worldwide wide-scale adoption of industry 4.0 are driving the manufacturing execution system market growth.
Players operating in the Manufacturing Execution System market are mainly focused on the development of advanced and efficient products.
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. The extension is expected to strengthen its position as a market leader in innovation.
In February 2022, Dassault Systemes formed a strategic alliance with Inria, France's National Institute for Research in Digital Science and Technology, for European digital sovereignty.
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Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
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About Us:
The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.
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