Report : Manufacturing Execution System Market to 2027 - Global Analysis and Forecasts by Component (Software, Services); Deployment (Cloud, On-Premise); Industry Type (Process Industry, Discrete Industry)
Manufacturing execution system market on a global scenario was valued at US$ 10.08 Bn in 2018 and is expected to reach US$ 32.93 Bn by 2027 with a CAGR growth rate of 14.3% in the forecast period from 2019 to 2027.
With the increasing demand for enhancing productivity and executing complex production processes efficiently, companies across the region are inclined toward adopting manufacturing execution systems. Also, the growth of manufacturing execution systems is attributed to increasing investments in the manufacturing sector and developments in industrial automation. Further, demand for manufacturing execution system software and services are predicted to grow in the coming years, owing to an increase in demand for automated operations from manufacturing industries in various developing countries of Asia Pacific. The major benefits of manufacturing execution systems comprise reduced work in process inventory, labor tracking, and the ability to review efficiency by work centers. Manufacturers from all over the world can benefit from the integration of manufacturing execution system with enterprise resource planning, product lifecycle management, and others to transform the manufacturing processes in terms of control and synchronization.
With the increasing adoption of digital technologies organizations worldwide, the demand for manufacturing execution system and services is growing at a good pace. The manufacturing execution system is quite popular in developed regions such as North America and Europe and their demand in developing regions such as the Asia Pacific is growing at an impressive rate. The demand for manufacturing execution system from the industries such as process industries and discrete industries, high adoption of cost-efficient automation technologies, increasing need for tracking real-time data are some of the factors that are impacting the global manufacturing execution system market.
The manufacturing execution system market has been derived from market trends and revenue generation factors from five different regions across the globe namely; North America, Europe, Asia Pacific, Middle East, and Africa, and South America. The Asia Pacific is projected to be the fastest-growing region in the global manufacturing execution system market. Whereas, North America, followed by Europe, holds the highest market share in the manufacturing execution system market in 2018. Rest of the developing regions like South America and Middle East & Africa are also expected to grow significantly throughout the forecast period.
Asia-Pacific is expected to with high year-on-year growth during the forecast period. The region has become a global manufacturing hub with the presence of diverse manufacturing industries. Among China’s evolution into a high-skilled manufacturing hub, other developing countries such as India, South Korea, Taiwan, and Vietnam are attracting several businesses that are in a quest to relocate their low to medium-scaled manufacturing facilities to neighboring countries, offering lower labor cost. Also, China is the largest producer of passenger cars in the world. Further, Japan, India, and South Korea are some of the major vehicle manufacturing countries. Furthermore, the region is the third-largest pharmaceutical producer, after North America and Europe.
Further, the governments of these countries are making developments to improve FDIs. They are offering tax-rebates, funds, subsidies, and other such support to attract the manufacturing companies to set-up plants in their respective countries. Further, several governments have taken initiatives such as Made in China 2025 and Make in India to propel the growth of their respective manufacturing sectors. However, China, which is the largest manufacturing hub, is experiencing a rise in the country’s labor cost owing to the aging population of the country. It has attracted manufacturers’ interest in making investments in Southeast Asian countries. The improving infrastructure, rising domestic consumption, and lower costs are some of the factors attracting manufacturing companies in these countries.
Some of the other notable players in the global manufacturing execution system market include ABB Ltd., Dassault Systemes SE, Emerson Electric Co., General Electric Company, Honeywell International Inc., Rockwell Automation, Inc., SAP SE, Schneider Electric SE, Siemens AG, Werum IT Solutions GmbH (Korber), among others.
Manufacturing Execution System Market - Geographic Breakdown, 2018
DOWNLOAD PDF BROCHURE