According to a new market report published by Transparency Market Research “Manufacturing Execution System (MES) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023,” manufacturing execution system market was valued at USD 7,860.5 Million in 2014; and is expected to reach USD 19,364.7 Million in 2023, growing at a CAGR of 11.1% from 2015 to 2023.
Albany, NY -- (SBWIRE) -- 11/14/2016 -- Improved economic conditions globally have led to augmented pressure on manufacturing industries for increasing effectiveness of production processes. This in turn is leading to increasing demand for automation in industries aimed at optimizing production techniques and ensuring product quality. The global MES market is anticipated to grow during the forecast period attributed to rising demand for improving productivity and executing complex production processes efficiently. In addition, need for meeting regulation compliances in highly regulated industries such as food and beverages and pharmaceutical is driving the need for automation, which in turn is boosting the growth of MES market across the globe. Moreover, demand for paperless operation from manufacturing industries in developing regions such as China, India and Brazil is further attributing to the growth of MES market during the forecast period.
Traditional paper-based record keeping systems are highly prone to human errors. To overcome these errors, acceptance of advanced software based solutions such as MES are on the rise. Moreover, MES plays a vital role in integrating information systems on the shop floor with business systems in the corporate offices, leading to gradual phasing out of traditional paper based systems. In addition, MES is also capable of integrating information from multiple plant or factory locations, enabling manufacturers to make faster, better and more competitive decisions. The market transition towards software based, paperless manufacturing is considered as the major factor driving the growth of MES market.
Get More Information: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=2724
However, requirement of high initial investment upfront for installation of manufacturing execution system (MES) in manufacturing industries is posing as a major restraint to the growth of the global manufacturing execution system (MES) market. Moreover, complexities in installation of manufacturing execution system (MES) are inhibiting the growth of the market. Advancements in industrial internet of thing (IoT) is paving new opportunities for the key players operating in the global manufacturing execution system (MES) market. IoT is facilitating advancements in cloud computing, industrial mobility, and big data analytics. This in turn is leading to emergence of next-generation MES enabled with real time data analysis.
The global manufacturing execution system (MES) market is categorized based on process industry into oil and gas, chemical, food and beverages, pulp and paper, pharmaceutical, energy and power, water and wastewater treatment and others. Other process industry segment includes textiles, and steel and aluminum. Process industries generally involve extraction of various raw materials and manufacturing of end products by means of physical, mechanical, and/or chemical processes. Moreover, these industries use various recipes or formulations for manufacturing process. In 2014, oil and gas segment contributed the majority of the global MES market share by process industry in terms of revenue. Growth of this segment is attributed to the need for continuous operation environment, with sophisticated scheduling and tracking mechanism aimed at increasing operational efficiency.
Based on discrete industry, the global manufacturing execution system (MES) market is segmented into automotive, aerospace and defense, electronics and electrical, medical devices, FMCG, and others. Others segment includes semiconductors, furniture & wood products, and printing and publishing. Discrete industry follows sequential steps or assembly steps for manufacturing end products. The primary focus of discrete industry is to maximize efficiency and minimize production cost by reducing wastage of raw materials. In addition, discrete industries are emphasizing on reducing inventory, increasing productivity, real-time control of manufacturing processes, and increasing profitability. Amongst discrete industry, automotive segment held the majority of the market share in terms of revenue in 2014. In order to meet the increasing demand and faster time to market in automotive industry, the segment is expected to see significant growth the forecast period.
Key players in the manufacturing execution system (MES) market include ABB Ltd. (Switzerland), Schneider Electric S.E. (France), Rockwell Automation, Inc. (U.S.), Emersion Electric Co. (U.S.), General Electric Co. (U.S.), and SAP SE (Germany) among others.