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Modern Manufacturing Execution System Market: Evaluating $38.08 Billion, Size, Key Trends, Growth Prospects, and Competitive Insights in Market Dynamics
Modern Manufacturing Execution System Market
As per the report, the modern manufacturing execution system market size has grown rapidly in recent years. It will grow from $16.95 billion in 2023 to $19.68 billion in 2024 at a compound annual growth rate (CAGR) of 16.1%. The modern manufacturing execution system market size is expected to see rapid growth in the next few years. It will grow to $38.08 billion in 2028 at a compound annual growth rate (CAGR) of 16.4%.
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Increasing Adoption Of Cloud-Based Solutions Fuels Growth In The Modern Manufacturing Execution System Market
The rising adoption of cloud-based solutions is expected to propel the growth of the modern manufacturing execution system market going forward. Cloud-based solutions refer to software, platforms, or infrastructure services hosted and accessed over the internet rather than installed on local computers or servers. The adoption of cloud-based solutions is rising due to their scalability, flexibility, accessibility, and cost-effectiveness for businesses across various industries. Cloud-based solutions in modern manufacturing execution systems (MES) enable manufacturers to access real-time production data, collaborate across multiple locations, and scale their operations efficiently using remote servers and services accessed via the internet. For instance, according to Eurostat, a Luxembourg-based statistical office of the European Union (EU), 45.2% of businesses within the European Union acquired cloud computing services in 2023, an increase of 4.2% from 2021. Additionally, the adoption of cloud computing among medium-sized enterprises rose to 59% in 2023, compared to 53% in 2021. Further, the proportion of small businesses utilizing cloud services increased by 3.8% to reach 41.7% during the same period. Therefore, the rising adoption of cloud-based solutions is driving the growth of the modern manufacturing execution system market. Therefore, the increasing adoption of cloud-based solutions is driving the growth of the modern manufacturing execution system market.
Advancements In Manufacturing Execution Systems Transforming The Modern Manufacturing Execution System Market
Major companies operating in the modern manufacturing execution system market are developing innovative products, such as Manufacturing Execution System (MES) software, to gain a competitive edge in the market. Manufacturing execution system (MES) software is a computerized system used in manufacturing industries to track and manage production processes and data in real time. For instance, in February 2023, AVEVA, a UK-based information technology consulting company, launched a new version of its Manufacturing Execution System (MES) software to support data center deployments. This updated version offers multi-site support, catering to the needs of data center operators by enhancing MES with capabilities in monitoring and control, asset performance, and operations optimization. The MES software digitizes, standardizes, and optimizes operational processes and work activities across industrial manufacturing plants. It manages inventory, production, and quality-related plant activities to ensure the production of high-quality products at the lowest cost.
The modern manufacturing execution system market covered in this report is segmented -
1) By Component: Software, Service
2) By Deployment: On-Premise, Cloud, Hybrid
3) By Application: Fast Moving Consumer Goods (FMCG), Medical, Automotive, Electronics, Aerospace And Defense, Other Applications
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Major companies operating in the modern manufacturing execution system market are Siemens AG, General Electric Company, Schneider Electric SE, Honeywell International Inc., SAP SE, ABB Ltd, Applied Materials Inc., Emerson Electric Co., Rockwell Automation Inc., Dassault Systèmes, Krones AG, Epicor Software Corporation, Aptean Inc., MPDV Mikrolab GmbH, Plex Systems, Yokogawa Electric Corporation, Lighthouse Worldwide Solutions, Werum IT Solutions GmbH, Aegis Software , InfinityQS International, Tebis Technische Informationssysteme AG, Critical Manufacturing, FORCAM GmbH, ATS Global
Contents of the report:
1. Executive Summary
2. Modern Manufacturing Execution System Market Report Structure
3. Modern Manufacturing Execution System Market Trends And Strategies
4. Modern Manufacturing Execution System Market - Macro Economic Scenario
5. Modern Manufacturing Execution System Market Size And Growth
…..
27. Modern Manufacturing Execution System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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