Manufacturing Execution System Market Growing at 10.8% CAGR to be Worth $24,286.32 Million by 2028 Global Analysis by The Insight Partners

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 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.

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Companies Profiled in this report includes: 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 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.

IMPACT OF COVID-19 PANDEMIC ON MANUFACTURING EXECUTION SYSTEM MARKET

The tremendous spread of SARS-CoV-2 has 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, manufacturing industries were severely affected due to a drastic decrease in product demand, falling prices, and storage shortages. A swift decline in manufacturing revenues due to virtually nonexistent manufacturing demand and slow production capabilities has limited the expenditure on installation or upgrading of existing manufacturing execution system solutions across the industries. Moreover, periodic maintenance and discontinuation of operation among existing manufacturing plants have hampered the demand for the MES solutions. Thus, the COVID-19 pandemic has adversely affected the manufacturing execution system market.

In 2021, the manufacturing industry started recovering from the significant labor and supply chain challenges that triggered the adoption of manufacturing execution system solutions. In 2022, MES solutions will have a higher demand due to the continued progress of process and discrete industries.

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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.

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