Press release
Manufacturing Execution System Market hit USD 25,090 million in 2019 and will grow at 15.4% CAGR till 2027 | Size & Forecast
Manufacturing Execution System Market
The Manufacturing Execution System Market was estimated around USD 25,090 million in 2019 and is predicted to grow at a CAGR of 15.4% over the forecast period (2020-2027).
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/manufacturing-execution-system-mes-market/
The factors driving the growth of Manufacturing Execution System Market includes increasing application of manufacturing execution systems in end-use industries such as pulp and paper, oil and gas and Food & Beverages, emerging need for developing a connected supply chain in the manufacturing sector and Government initiatives promoting industrial manufacturing. According to the report published by IIFL Security, the Government of India under the Production Linked Incentive Scheme is planning to invest INR 1.97 lakh crore to boost industrial manufacturing across 13 sectors, which will accelerate the Manufacturing Execution System Market size in India in the approaching years. Moreover, growing adoption of advanced technologies such as Artificial Intelligence (AI), Internet of Things (IoT) and Machine Learning (ML) by manufacturers, rising focus by companies on reducing downtime costs and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by leading players on research and development, rising disposable incomes, improvements in living standards and growing population growth rates, are further contributing towards the market growth.
However, growth of the Manufacturing Execution System Market is hindered due to high upgradation and maintenance cost of manufacturing execution systems.
The prominent players operating in the Manufacturing Execution System Market are Oracle Corporation, Siemens AG, Dassault Systèmes SE, ABB Ltd., Honeywell International, Inc., Rockwell Automation, Inc., AVEVA plc, SAP SE, Werum IT Solutions GmbH and Applied Materials, Inc., among others.
Based on Deployment, the On-Premises segment is predicted to capture the largest market share during the forecast period
Manufacturing execution systems enhances level of security along with its increasing application in pulp & paper, energy & power, and chemicals, are some of the factors responsible for the segment's growth.
Based on Process Industry, the Pharmaceutical & Life Sciences segment is projected to hold the highest market share over the forecast period
Manufacturing execution systems helps pharmaceutical companies to reduces risk, time, and cost, enhancing product quality and provide real time information on requirement changes, are propelling segment's growth.
Based on Region, the Asia-Pacific region is anticipated to expand at a remarkable CAGR during the forecast period
Government initiatives promoting digitalization, growing adoption of advanced technologies by major corporations, rapid growth in the manufacturing sector, rising per capita incomes and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.
Key Developments
In Oct 2019, Rockwell Automation completed the acquisition of MESTECH Services, a Manufacturing Execution Systems, digital solutions consulting, and systems integration services provider company. T
In Jan 2019, Dassault Systèmes acquired IQMS, California-based ERP software company, for USD 425 million. Through this acquisition Dassault Systèmes will expand the 3DEXPERIENCE platform to small and midsized manufacturing companies pursuing to transform their business operations digitally.
Market Segmentation
Segmentation by Offering
Software
Service
Segmentation by Deployment
On-Premises
On-Demand
Hybrid
Segmentation by Process Industry
Food & Beverages
Oil & Gas
Chemicals
Pulp & Paper
Pharmaceutical & Life Sciences
Energy& Power
Water & Wastewater Management
Others
Segmentation by Discrete Industry
Automotive
Aerospace & Defense
Medical Devices
Consumer Packaged Goods
Others
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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