Manufacturing Execution System (MES) Market to touch US$19.36 bn in 2023 - TMR

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Manufacturing Execution System (MES) Market to touch US$19.36 bn in 2023 – TMR

The global manufacturing execution system (MES) market is consolidated on account of a handful of well-entrenched players dominating it. Such leading players managed to establish a stronghold through durability, quality, and reliability of their products achieved through technological innovations. One of the noticeable trends in the market is the increasing allocations for research and development by such big names in order to come up with products with superior automation technology. They are also constantly on the lookout for strategic mergers and acquisitions to bolster their positions further.
Some of the key players operating in the global market for manufacturing execution system (MES) are ABB Ltd., Schneider Electric S.E., Rockwell Automation, Inc., Emersion Electric Co., General Electric Co., and SAP SE.

As per a report by Transparency Market Research, the global manufacturing execution system (MES) market will likely expand at a healthy 11.1% CAGR during the period between 2015 and 2025 to attain a value of US$19.36 bn in 2023. The market was valued at US$7.86 bn in 2014.

Depending upon the process industry, the global manufacturing execution system (MES) market can be divided into chemical, oil and gas, food and beverages, pharmaceutical, pulp and paper, energy, water and wastewater treatment, power, and others such as textiles, and steel and aluminum. Among them, the oil and gas segment accounted for maximum share in revenue in the market in 2014. This is because of the continuous operation environment, with cutting-edge scheduling and tracking mechanism meant to up operational efficiency.

Geographically, the key segments of the global market for manufacturing execution system (MES) are North America, Europe, Asia Pacific, and the Rest of the World. North America, of them, leads the market on the back of industries requiring MES to integrate data from ERP and routing the information to plant floor for efficient operation.

Need for Automation to Improve Manufacturing Processes Drives Demand

Majorly fuelling the global market for manufacturing execution system (MES) market is the pressing need of the manufacturing sector to up the efficacy of production processes through automation. Further, regulation compliances in tightly regulated industries such as pharmaceutical and food and beverages is also pushing up demand for automation, which again is proving beneficial to the market.

Emphasis on Paperless Operations to Avoid Human Errors Benefits Market

Yet another factor driving the global market for manufacturing execution system (MES) is the thrust on paperless operation in manufacturing industries in developing economies of China, India, and Brazil. “Traditional paper-based record keeping systems are liable to human errors. To eliminate them, organizations are increasingly resorting to advanced software based solutions such as MES,” explains the lead analyst of TMR report.

Manufacturing execution system (MES) also plays a crucial role in integrating information systems on the shop floor with business systems in the corporate offices, resulting in doing away with traditional paper based systems gradually. In addition, MES is also capable of integrating information from different plant or factory locations, thereby facilitating quicker and improved decision-making by manufacturers.

Posing a challenge to the global manufacturing execution system (MES) market is the steep upfront investment upfront required to install them. In addition, complexities in installation is also hampering the market.

This review is based on the findings of a TMR report, titled, “Manufacturing Execution System (MES) Market (Process Industry – Oil and Gas, Chemical, Food and Beverages, Pulp and Paper, Pharmaceutical, Energy and Power, and Water and Wastewater Treatment; Discrete Industry – Automotive, Aerospace and Defense, Electronics and Electrical, Medical Device, and FMCG) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015–2023.”

 

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