Sarasota, FL -- (SBWIRE) -- 11/09/2018 -- Zion Market Research has published a new report titled "Manufacturing Execution System (MES) Market By Function (Quality Analysis, Document Control, Inventory Management, Production Tracking, Production Performance Analysis, Resource Allocation, And Others), By Process Industry (Oil And Gas, Food And Beverages, Chemical, Power And Energy, And Others), and By Discrete Industry (Automotive, Consumer Electronics, Aerospace And Defense, Metal And Mining, And Others): Global Industry Perspective, Comprehensive Analysis, And Forecast, 2017 – 2024". According to the report, global manufacturing execution system (MES) market was valued at approximately USD 9.28 billion in 2017 and is expected to reach approximately USD 21.70 billion by 2024, at a CAGR of around 12.90% between 2018 and 2024.

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Manufacturing execution system (MES) is an IT-enabled system that gives solutions for optimizing and improving the manufacturing process to engineers and managers. This system helps in generating a greater output at minimum cost by altering the current conditions of the shop floor. Manufacturing execution system connects the ERP system and the process control system. It works in real-time to control the multiple functions of the production process.

Rising need to effectively manage evolving challenges in the manufacturing process is expected to boost the demand for the manufacturing execution system (MES) market across the globe. Many companies are facing challenges about connecting hardware components to cloud computing. The manufacturing execution system based on cloud helps in connecting those hardware components by assigning an internet protocol (IP) or transmission control protocol (TCP) address to the device. Manufacturing execution system can integrate with other ERP systems in the organization and this factor is further anticipated to escalate the growth of manufacturing execution system (MES) market globally. Integration of other ERP systems with MES will eliminate the need for standalone systems and provide better information of estimated order delivery dates, and improve decision-making. However, the complex nature of technology may restrain the global manufacturing execution system (MES) market growth.

Manufacturing execution system (MES) market is segmented on the basis of function, process industry, discrete industry, and region. On the basis of function, the market is divided into quality analysis, document control, inventory management, production tracking, production performance analysis, resource allocation, and others. Process industry segment includes oil and gas, food and beverages, chemical, power and energy, and others. Discrete industries of manufacturing execution system (MES) market are automotive, consumer electronics, aerospace and defense, metal and mining, and others.

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Geographic regions included in the global manufacturing execution system (MES) market are North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa, which is further segmented into major countries. Among the regions, North America is expected to have the largest share in the overall manufacturing execution system (MES) market. Thriving manufacturing industry in the U.S. helped to manufacture execution system (MES) market to grow significantly in the North American region. The major reason behind the market growth in North America is growing adoption of big data analytics by several organizations in Canada and the U.S. The recent study conducted by Dresner Advisory Services' states that, around 55% of North American organizations have already adopted big data analytics to enhance their operational efficiency. Moreover, increasing use of the Internet of Things in the production process is further expected to support the growth of the manufacturing execution system (MES) market in North America.

Major players operating in the global manufacturing execution system (MES) market are Schneider Electric S.A., SAP, Werum Software and Systems, Siemens AG, Rockwell Automation Inc., General Electric Co. (GE), Eyelit Inc., Operator System Aps, Honeywell International Inc., Emerson Electric Co., Apriso Corporation, Andea Solutions, ABB Ltd., and others.

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The report segments the global manufacturing execution system (MES) market as follows:

Global Manufacturing Execution System (MES) Market: Function Segment Analysis

Quality Analysis
Document Control
Inventory Management
Production Tracking
Production Performance Analysis
Resource Allocation
Others

Global Manufacturing Execution System (MES) Market: Process Industry Segment Analysis

Oil and Gas
Food and Beverages
Chemical
Power and Energy
Others

Global Manufacturing Execution System (MES) Market: Discrete Industry Segment Analysis

Automotive
Consumer Electronics
Aerospace and Defense
Metal and Mining
Others

Global Manufacturing Execution System (MES) Market: Regional Segment Analysis

North America
The U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa