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Manufacturing Execution System Market is expected to reach US$ 24,286.32 Million by 2028

06-28-2022 12:58 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: The Insight Partners

"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 manufacturing execution system market was valued at US$ 11,880.90 million in 2021 and is projected to reach US$ 24,286.32 million by 2028; it is expected to grow at a CAGR of 10.8% from 2021 to 2028.

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 manufacturing execution system (MES) helps them gain a sustainable competitive advantage by assisting in the alteration of the production process in real time, based on changes in the markets they serve. It also encourages users to prepare a proactive strategic plan of the maintenance processes that ultimately reduce downtime. An efficient MES solution benefits by reducing waste and overages, optimizing inventory, lowering manufacturing cycle time, improving customer service, and decreasing setup costs. 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. It 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 wide-scale adoption of Industry 4.0 worldwide are driving the manufacturing execution system market growth.

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 among key players profiled during the study of the Manufacturing Execution System market.

The Sample Pages Showcases Content Structure and Nature of Information Included in This Research Study Which Presents A Qualitative and Quantitative Analysis:

The manufacturing execution system (MES) is often integrated with other solutions, such as supply chain management solutions, enterprise resource planning (ERP) solutions, product lifecycle management solutions, and other information technology systems. This ease of integration of the MES solution allows end users to improve supply chain visibility, regulatory compliance, customer satisfaction, agility and time-to-market (TTM), machine utilization and energy efficiency, and sustainable production. The MES directly pulls data from equipment aligned with production and instantly shares it with ERP systems, with minimum human intervention. The data is analyzed to examine the quantities and qualities of materials consumed in the production process and its items. It also helps plant operators interact bidirectionally with production equipment and other systems, thereby decreasing downtime and optimized costs and inventory.

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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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 restrictions on vehicles and human movement. Due to travel restrictions, mass lockdowns, and business shutdowns, the COVID-19 pandemic has affected economies and countless manufacturing and production industries in various countries. The lockdown imposition has 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 because of 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, global manufacturing output decreased by 11.2% compared to the same quarter in 2019. China is expected to record 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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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, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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