Global Manufacturing Execution Systems Market
Global Manufacturing Execution Systems (MES) Market Size Expanding about 2X to Reach USD 24.8 Billion by 2028
Published | 26 October 2022
Global manufacturing execution systems (MES) market is flourishing because of an increased emphasis on cloud-based services, mobility, and parallel data processing, rising demand for manufacturing execution system real-time analytical capacity, and rapid globalization.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Global Manufacturing Execution Systems (MES) market size at USD 12.54 billion in 2021. During the forecast period between 2022 and 2028, BlueWeave expects global manufacturing execution systems market size to grow at a significant CAGR of 10.4% reaching a value of USD 24.80 billion by 2028. Global MES market is being driven by the rising awareness about modern security concerns, as well as increased need for well-connected supply chains in manufacturing industries. A greater emphasis on cloud-based services, mobility, and parallel data processing; rapid globalization; and increased infrastructure developments in major emerging economies are also important drivers of the market growth. However, high expenditures on research & development initiatives, inefficiency due to high installation and running expenses, rigorous regulations, and a lack of understanding about MES among small and medium-sized enterprises (SMEs) may limit the growth of global MES market.
Global Manufacturing Execution Systems Market – Overview
A manufacturing execution system (MES) is an information system that links, regulates, and operates complex production processes and data flows on the factory floor. The primary purpose of an MES is to ensure the efficient execution of manufacturing activities and to increase production output. An MES contributes to this goal by tracking and collecting precise, real-time data regarding the entire production lifecycle, from order release to finished goods delivery.
Global Manufacturing Execution Systems Market – By Deployment Type
Based on deployment type, global manufacturing execution system market has on-premises, on-demand, and hybrid segments. The on-premises segment held the highest share in 2020, as manufacturers adopt MES to retain all their existing processes and internal systems, such as authentication and access credentials. Followed by the hybrid segment held the highest share in global manufacturing execution system in 2021. The hybrid is implemented in oil and gas sector, because of increasing needs of real-time information for monitoring the activities in oil and gas fields. A hybrid MES also provides additional storage capacity, which ensures data protection.
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Impact of COVID-19 on Global Manufacturing Execution Systems Market
COVID-19 pandemic had a significant impact on global MES market. Manufacturing industries were adversely affected in 2020, due to a significant decline in product demand, declining costs, and storage constraints. A rapid fall in manufacturing profits owing to nonexistent manufacturing demand and poor production capacities have limited investment on the installation or improvement of existing MES solutions across industries hampered the growth of overall market. However, the global manufacturing execution system market rose exponentially in the fourth quarter of 2020, owing to consistent improvements in the supply chain and manufacturing process, as well as the implementation of COVID-19 safety measures standards for workforce safety. Considering the pandemic, the current state of the MES market will drive pharmaceutical suppliers and healthcare establishments to increase investments in Artificial Intelligence (AI) as part of R&D, serving as the primary technology to enable various initiatives and applications.
Global Manufacturing Execution System Market is fiercely competitive, with Emerson Electronic Co., General Electric, Rockwell Automation, Inc., Schneider Electric, Siemens, ABB, Accenture, Honeywell International Inc., HCL Technologies Limited, and Hitachi, Ltd., as prominent players. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics Global Manufacturing Execution System Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Manufacturing Execution System Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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- Manufacturing Execution System Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2018–2028, Segmented By Type (Point Manufacturing Execution System, Integrated Manufacturing Execution System); By Application (Automotive Industry, Semiconductor & Electronics, Machinery Industry, Mining & Metallurgy); By Deployment Mode (On-premises, On-demand, Hybrid); By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)
Publish Date: October 2022
Increasing focus on cloud-based services, mobility, and parallel data processing; a surging demand for real-time analysis capability of the manufacturing execution system; and rapid globalization are expected to boost the expansion of Global Manufacturing Execution System (MES) Market at a significant growth rate during the forecast period between 2022 and 2028.
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