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Manufacturing Execution System Market Growth Drivers, Strategic Analysis, Market Share, Key Trends And Forecast To 2033
Manufacturing Execution System Market Growth
As per the report, the manufacturing execution system market size has grown rapidly in recent years. It will grow from $14.25 billion in 2023 to $15.81 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The manufacturing execution system market size is expected to see rapid growth in the next few years. It will grow to $24.52 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%.
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Growing Demand For Mass Production And Connected Supply Chains Boosting Manufacturing Execution System Market
The increase in demand for mass production and a connected supply chain to cater to the growing population is expected to drive the manufacturing execution system market. The companies are increasingly investing in advanced software and AI-based systems to meet the fast-growing demand for mass production activities and connected supply chains. For instance, according to the study published by the United Nations Industrial Development Organization, in Q4 of 2021, global manufacturing production observed a year-on-year growth of 3.3%, following an increase of 5.8% and 17.8% in Q3 and Q2 respectively. Additionally, according to the study conducted by PwC, a Global Industry 4.0 Survey, it was reported that implementation of manufacturing execution systems in production lines contributed to a 30% increase in productivity and increased ROI from cost savings of 3% and additional revenue of 3%. Therefore, mass production and a connected supply chain are expected to boost the manufacturing execution system industry.
Latest Mes Version To Address The Need For Improved Operational Efficiency
Major companies operating in the manufacturing execution system market are launching latest version of MES to address the need for improved operational efficiency. The latest MES (Manufacturing Execution System) version is the most current and up-to-date release of the software, providing the latest features, improvements, and bug fixes for managing and monitoring manufacturing processes. For instance, in February 2023, AVEVA, a UK-based corporate payment specialist, launched AVEVA Manufacturing Execution System 2023, which offers improvements for multi-site MES solutions, streamlining operational efficiency, sustainability, and supply chain resilience. This update allows for a single centrally deployed MES across various locations, reducing the total cost of ownership. It also incorporates worker shift management, enhanced security, and supports multi-site MES data center deployments across different time zones, languages, and cultures. This release aims to help manufacturers achieve digital transformation and increased agility and resilience in a post-pandemic world.
The manufacturing execution system market covered in this report is segmented -
1) By Offering: Software, Services
2) By Deployment: On-premise, On-demand, Hybrid
3) By Organization Size: Small and Medium Size Enterprise, Large Enterprise
4) By Process Industry: Food & Beverages, Oil & Gas, Chemicals, Pulp & Paper, Pharmaceutical & Life Sciences, Energy & Power, Water & Wastewater Management, Other Process Industries
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Major companies operating in the manufacturing execution system market report are ABB Ltd.,AVEVA Group plc, Dassault Systèmes, Honeywell International Inc., Rockwell Automation Inc.,Siemens AG,Schneider Electric SE,Dassault Systèmes,Emerson Electric Co.,General Electric Company,Honeywell International Inc.,Werum IT Solutions,Parsec Automation Corp.,PTC Inc.,Yokogawa Electric Corporation,SAP SE,Schneider Electric SE,Lighthouse Systems,Critical Manufacturing,Cogiscan Inc.,Andea Solutions,Plex Systems Inc.,Sanmina Corporation,Applied Materials Inc.,L&T Technology Services,ATS Global B. V.,MPDV Mikrolab GmbH,CIMON Inc.,Prolink Technologies,Aegis Industrial Software Corporation
Contents of the report:
1. Executive Summary
2. Manufacturing Execution System Market Report Structure
3. Manufacturing Execution System Market Trends And Strategies
4. Manufacturing Execution System Market - Macro Economic Scenario
5. Manufacturing Execution System Market Size And Growth
…..
27. 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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