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Manufacturing Execution System Market to expand at a CAGR of 9.4% from 2021 to 2031 with Increase in Usage of Cloud Computing Globally
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The prominent role of manufacturing execution systems is to increase the productivity and process capabilities of the manufacturing process. The growing industrial sector and the strong need to optimize manufacturing processes have expanded the usage of manufacturing execution systems. The increasing penetration of IIoT through various automation-promoting industries is expected to boost the manufacturing execution system (MES) market.
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Manufacturing Execution System (MES) Market: Dynamics
Manufacturing and automobile companies are expanding production efficiency by setting up new production plants based on smart factory solutions. Companies are changing their business policies by adopting advanced smart manufacturing technologies and connected production systems instead of traditional production methods. A manufacturing execution system is an information system which tracks and monitors the production of manufactured goods on the factory floor. The main objective of a manufacturing execution system is to make manufacturing operations work smoothly and improve production output.
The manufacturing execution system assists in gathering and tracking accurate and real time data about the complete production cycles. MES solutions help companies in real-time supply chain optimization, smart energy consumption, and remote monitoring & control for various production processes. MES solution providers are offering industrial connected solutions that integrate with existing system infrastructure to reduce excessive infrastructural cost for new technologies. Hence, increasing consumer spending on digitalization and advanced smart factory solutions is expected to boost the demand for manufacturing execution systems during the forecast period. Rise in demand for next-generation MES is presenting new opportunities for players in the market. This is anticipated to fuel the manufacturing execution system (MES) market.
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Manufacturing Execution System (MES) Market: Prominent Regions
North America is estimated to hold a leading share of the global manufacturing execution system (MES) market by the end of 2021. This can be attributed to a rise in rate of adoption of cloud and on-premise deployment among end-users. The U.S. holds maximum share of the manufacturing execution system (MES) market in the region.
The manufacturing execution system (MES) market in Asia Pacific is expected to expand at a rapid pace during the forecast period, owing to the cumulative usage of IIoT & Big Data by end-use industries. Increasing number of manufacturing firms in India and China are seeking enhanced support solutions to deliver better customer experiences, which is projected to create lucrative opportunities for the manufacturing execution system (MES) market. Asia Pacific has emerging economies that are emphasizing on enhancing digital activities. This is anticipated to fuel the growth of the manufacturing execution system (MES) market.
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Manufacturing Execution System (MES) Market: Key Players
Key players operating in the global manufacturing execution system (MES) market are ABB Ltd., AVEVA Group plc, Dassault Systèmes, Design Systems, Inc., Emerson Electric Co., GE DIGITAL, Honeywell International Inc., iBASEt, iTAC Software AG, Körber AG., Oracle Corporation, Parsec Automation Corp, Rockwell Automation, Inc., SAP SE, and Siemens AG.
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