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Modern Manufacturing Execution System Global Market In Depth Research with Industry Size, Share, Verticals and Forecast 2033 | Siemens AG, SAP SE, ABB Ltd., Applied Materials Inc.
Modern Manufacturing Execution System Market
The modern manufacturing execution system market size is expected to see rapid growth in the next few years. It will grow to $38.08 billion in 2028 at a compound annual growth rate (CAGR) of 16.4%. The growth in the forecast period can be attributed to rapid adoption of industry 4.0 technologies, shift towards cloud-based solutions, emphasis on predictive maintenance, increasing complexity in manufacturing operations, focus on sustainability and green manufacturing. Major trends in the forecast period include rapid adoption of cloud-based solutions, integration with emerging technologies, focus on data analytics and predictive insights, expansion of MES in small and medium-sized enterprises (SMES), enhanced interoperability and connectivity.
Market Overview -
A modern manufacturing execution system is a software-based solution that manages, monitors, and controls manufacturing operations in real time. This system plays a crucial role in the Industry 4.0 environment by enabling data-driven decision-making, boosting productivity, cutting costs, and aiding in the digital transformation of manufacturing processes. The modern manufacturing execution system is indispensable for enterprises seeking to enhance operational transparency, streamline production operations, and adjust to the evolving requirements of the industrial landscape.
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Increasing Adoption Of Cloud-Based Solutions Fuels Growth In The Modern Manufacturing Execution System Market
The rising adoption of cloud-based solutions is expected to propel the growth of the modern manufacturing execution system market going forward. Cloud-based solutions refer to software, platforms, or infrastructure services hosted and accessed over the internet rather than installed on local computers or servers. The adoption of cloud-based solutions is rising due to their scalability, flexibility, accessibility, and cost-effectiveness for businesses across various industries. Cloud-based solutions in modern manufacturing execution systems (MES) enable manufacturers to access real-time production data, collaborate across multiple locations, and scale their operations efficiently using remote servers and services accessed via the internet. For instance, according to Eurostat, a Luxembourg-based statistical office of the European Union (EU), 45.2% of businesses within the European Union acquired cloud computing services in 2023, an increase of 4.2% from 2021. Additionally, the adoption of cloud computing among medium-sized enterprises rose to 59% in 2023, compared to 53% in 2021. Further, the proportion of small businesses utilizing cloud services increased by 3.8% to reach 41.7% during the same period. Therefore, the rising adoption of cloud-based solutions is driving the growth of the modern manufacturing execution system market. Therefore, the increasing adoption of cloud-based solutions is driving the growth of the modern manufacturing execution system market.
Competitive Landscape -
Major companies operating in the modern manufacturing execution system market are Siemens AG, General Electric Company, Schneider Electric SE, Honeywell International Inc., SAP SE, ABB Ltd, Applied Materials Inc., Emerson Electric Co., Rockwell Automation Inc., Dassault Systèmes, Krones AG, Epicor Software Corporation, Aptean Inc., MPDV Mikrolab GmbH, Plex Systems, Yokogawa Electric Corporation, Lighthouse Worldwide Solutions, Werum IT Solutions GmbH, Aegis Software , InfinityQS International, Tebis Technische Informationssysteme AG, Critical Manufacturing, FORCAM GmbH, ATS Global
Advancements In Manufacturing Execution Systems Transforming The Modern Manufacturing Execution System Market
Major companies operating in the modern manufacturing execution system market are developing innovative products, such as Manufacturing Execution System (MES) software, to gain a competitive edge in the market. Manufacturing execution system (MES) software is a computerized system used in manufacturing industries to track and manage production processes and data in real time. For instance, in February 2023, AVEVA, a UK-based information technology consulting company, launched a new version of its Manufacturing Execution System (MES) software to support data center deployments. This updated version offers multi-site support, catering to the needs of data center operators by enhancing MES with capabilities in monitoring and control, asset performance, and operations optimization. The MES software digitizes, standardizes, and optimizes operational processes and work activities across industrial manufacturing plants. It manages inventory, production, and quality-related plant activities to ensure the production of high-quality products at the lowest cost.
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Key Segments -
The modern manufacturing execution system market covered in this report is segmented -
1) By Component: Software, Service
2) By Deployment: On-Premise, Cloud, Hybrid
3) By Application: Fast Moving Consumer Goods (FMCG), Medical, Automotive, Electronics, Aerospace And Defense, Other Applications
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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