Global Manufacturing Execution Systems Market Report 2022 to 2028: Players Include Siemens, Honeywell International, General Electric and SAP - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Global Manufacturing Execution Systems Market Size, Share & Industry Trends Analysis Report By Offering (Services and Software), By Deployment Type (On-premises, Hybrid and On-demand), By Industry, By Regional Outlook and Forecast, 2022 - 2028" report has been added to ResearchAndMarkets.com's offering.
The Global Manufacturing Execution Systems Market size is expected to reach $21.9 billion by 2028, rising at a market growth of 9.1% CAGR during the forecast period.
Key Market Players
- Siemens AG
- Honeywell International, Inc.
- General Electric (GE) Co.
- Dassault Systemes SE
- SAP SE
- ABB Group
- Oracle Corporation
- Applied Materials, Inc.
- Emerson Electric Co.
- Rockwell Automation, Inc.
Manufacturing execution system is the name of the information system that connects, monitors, and controls complex data flows and manufacturing devices or equipment on shop floors. This system's primary goals are to increase output and ensure that industrial processes are carried out effectively.
It aids in maximizing manufacturing operations' efficiency, profitability, compliance, and quality. Consequently, finds use in the management of inventories, analysis of quality, allocation of resources, tracking of production, and other sectors including oil and gas, consumer electronics, food and beverage, and automotive. Automation technology advancements open up the market for more advanced and superior production execution solutions.
There is an increasing need for very complicated items to be supplied in record time for many industries. It is more challenging than ever to balance customer demand with quality and traceability requirements, particularly in sophisticated industries such as aerospace and defence. By recording all as-built data down the whole production tree and providing users with access to a real-time single source of information to implement quality control and reduce risk, MES helps enterprises to fulfil traceability needs.
The MES offers a wide range of capabilities for analyzing business performance and contextualizing data. Executives & supervisors can operate with the same source of data that is upgraded in real-time from the production floor thanks to the consolidation of company data and the availability of dashboards with reporting tools.
Monitoring product cycle time, resource use, and scheduling adherence are crucial performance analysis tasks. Supplier data can be incorporated into MES as well, allowing manufacturers to monitor all third parties' performance.
Market Growth Factors
Rising Need for Huge Production and Connected Supply Chain
One of the main factors driving the MES industry is the demand for a linked supply chain in industrial industries. An essential component for enabling effective manufacturing activities is efficient data flow throughout the factory. IoT systems could be utilized by factories for supply chain reporting, inventory tracking, and location tracking of manufactured goods.
The simple flow of data across the whole supply chain is another benefit of connected manufacturing solution, which enables it simple for businesses to adapt to the shifting market conditions.
Increasing Investment in MES to Boost Energy Efficiency and Sustainable Production
Many large companies and SMEs are implementing manufacturing execution systems because they improve manufacturing processes. Production efficiency is aided by these systems' capacity to boost output, cut costs, boost quality, enabling real-time data collection and tracking of products.
This aspect is anticipated to promote the adoption of these systems in order to boost revenues. The use of manufacturing execution systems also results in decreases in the amount of waste and energy used throughout the manufacturing process. For instance, putting a MES system on a shop floor eliminates the requirement for paperwork & physical storage space while not requiring additional IT resources.
Market Restraining Factors
High Cost of Installation and Maintenance of MES
A company's expenses will rise as a result of the investment cost of MES, which also involves acquisition, consultation, adjustment, installation, and running costs. The capital investments for MES are especially substantial because they contain a number of services linked to this system, whose implementation varies by industry.
The costs associated with MES are mostly implementation and operating costs, which consequently raise a company's costs. MES can be fairly pricey due to the intricacy of the programme and other costs like custom integration.
Scope of the Study
Market Segments Covered in the Report:
By Deployment Type
- Medical Devices
- Consumer Packaged Goods
- Pharmaceuticals & Life Sciences
- Food & Beverages
- Oil & Gas
- Pulp & Paper
- Energy & Power
- Water & Wastewater Management
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
For more information about this report visit https://www.researchandmarkets.com/r/1lwsqv
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