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on May 11, 2024
Overview and Scope
A modern manufacturing execution system is a software-based solution that manages, monitors, and controls manufacturing operations in real time. This system plays a crucial role in the Industry 4.0 environment by enabling data-driven decision-making, boosting productivity, cutting costs, and aiding in the digital transformation of manufacturing processes. The modern manufacturing execution system is indispensable for enterprises seeking to enhance operational transparency, streamline production operations, and adjust to the evolving requirements of the industrial landscape.
Sizing and Forecast
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 growth in the historic period can be attributed to regulatory compliance requirements, need for operational efficiency, demand for real-time visibility, integration with enterprise systems, increasing complexity in manufacturing operations.
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%. The growth in the forecast period can be attributed to rapid adoption of industry 4.0 technologies, shift towards cloud-based solutions, emphasis on predictive maintenance, increasing complexity in manufacturing operations, focus on sustainability and green manufacturing. Major trends in the forecast period include rapid adoption of cloud-based solutions, integration with emerging technologies, focus on data analytics and predictive insights, expansion of MES in small and medium-sized enterprises (SMES), enhanced interoperability and connectivity.
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Segmentation & Regional Insights
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
North America was the largest region in the modern manufacturing execution system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the modern manufacturing execution system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the modern manufacturing execution system market are Siemens AG, Accenture Plc, 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
The modern manufacturing execution system market report table of contents includes:
1. Executive Summary
2. Modern Manufacturing Execution System Market Characteristics
3. Modern Manufacturing Execution System Market Trends And Strategies
4. Modern Manufacturing Execution System Market - Macro Economic Scenario
5. Global Modern Manufacturing Execution System Market Size and Growth
..
32. Global Modern Manufacturing Execution System Market Competitive Benchmarking
33. Global Modern Manufacturing Execution System Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Modern Manufacturing Execution System Market
35.Modern Manufacturing Execution System Market Future Outlook and Potential Analysis
36. Appendix
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Posted in: Technology