The manufacturing execution system market was valued at US$ 11870.6 million in 2020 and is projected to reach US$ 26090.7 million by 2028; it is expected to grow at a CAGR of 10.9% from 2021 to 2028.
At present, enterprises worldwide are giving equal importance to manufacturing execution system projects as enterprise resource planning (ERP) and product lifecycle management (PLM).Since enterprises are now recognizing the manufacturing competency as a key competitor differentiator, they have started adopting MES at a greater priority.
Further, a number of enterprises consider quality as an essential factor in the manufacturing systems strategy.Thus, they are looking for the advantages of integrating quality compared to keeping quality as a distinct system and process.
Such factors are expected to boost the adoption of manufacturing execution system.
In the present scenario, the players in the manufacturing execution system market are focused on offering more industry-specific solutions.This signifies the availability of ideal solutions as per specific need of an enterprise.
Further, it also eliminates the requirement for costly tailored extensions to commercial products. The availability of off the shelf functionality in manufacturing execution system is creating ample opportunities for the growth of manufacturing execution system market.
The manufacturing execution system market is segmented into component, deployment, and industry type.Based on component, the manufacturing execution system market is further segmented into software and services.
In 2020, the software segment accounted for a significant share in the global manufacturing execution system market.Based on deployment, the manufacturing execution system market is further segmented into cloud and on-premise.
In 2020, the cloud segment accounted for a significant share in the global manufacturing execution system market.Based on industry type, the manufacturing execution system market is further segmented into process industry and discrete industry.
In 2020, the discrete industry segment accounted for a significant share in the global manufacturing execution system market.
The ongoing COVID-19 pandemic continues to bring long term disruptions among several major process as well as discrete industries.However, among process industries the impact has been varying across different vertical such as impacting heavily on aviation, oil & gas, and numerous materials sectors attracting heavy reduction in their ongoing production volume.
Whereas industries such as food & beverages, pharmaceuticals, power generation, and chemicals have noticed limited disruption during the pandemic across different economies.As a result, prevalence of nation-wide lockdown to minimize the transmission of virus has significantly disrupted the supply chain activities along with production volume across several manufacturers especially the small & medium enterprise owners.
Moreover, the limited production activities along with disappearing demand for numerous control products and components contracted significantly during the 2020 resulting in stark decline in the market.
The overall manufacturing execution system market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining overview and forecast for the manufacturing execution system market with respect to all the segments.It also provides the overview and forecast for the global manufacturing execution system market based on all the segmentation provided with respect to five major regions—North America, Europe, Asia Pacific, Middle East and Africa, and South America.
Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the manufacturing execution system market.
SAP SE; ABB Ltd.; Dassault Systèmes SE; Schneider Electric SE; Emerson Electric Co.; General Electric Company; Honeywell International Inc.; Rockwell Automation, Inc.; Siemens AG; PSI Metals GmbH; OSIsoft, LLC; iTAC Software AG; Werum IT Solutions GmbH; and MPDV Mikrolab GmbH are among the major players operating in the global manufacturing execution system market.
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