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.
Manufacturing
Execution Systems (MES) are integrated software application aimed to
provide manufacturing industries with the means to schedule and plan,
direct and operate, and track and analyze their operations.
Presently, manufacturing industries are experiencing increasing
overhead and material costs. In addition, intense economic conditions
are compelling manufacturers to surge production in a cost effective
way. This in turn is leading to rising need for implementation of
industrial control systems aimed to optimize processes and provide
better visibility of the shop floor. Need for quicker turnarounds and
efficient utilization of resources or inventories is further driving
the need for automation in industries. MES solutions offers real-time
information of the shop floor, allowing end user industries to
quickly response to any challenge that could negatively impact
efficiency, productivity and quality. In addition, MES solutions
offer uninterrupted visibility into production operations, gaining an
overall view of the shop floor. Demand for industrial automation,
better visibility of the shop floor and need for real-time control
and adjustments to operations is driving the demand for manufacturing
execution system (MES).
However, requirement
of high initial investment upfront, end user industries are often
reluctant to install MES, which in turn is posing as a major factor
restraining the market growth. Moreover, rising complexities in
manufacturing industries is leading to complexities in installation
of MES, further limiting the growth of the MES market. Growth
opportunities for key players in the MES market lies in increasing
penetration of industrial internet of things (IoT), which in turn is
leading to rising demand for next-generation advanced MES solutions
across the globe.
Get Free Sample
Report Copy :
The global
manufacturing execution system (MES) market is categorized based on
process and discrete industry. Process industry includes 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. In 2014,
oil and gas segment contributed the majority of the global MES market
share by process industry in terms of revenue. 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. Amongst discrete industry, automotive segment held
the majority of the market share in terms of revenue in 2014. Surge
in installation of MES in automotive industry to meet increasing
demand for faster time to market is driving the growth of the
segment.
Geographically,
North America led the manufacturing execution system (MES) market in
2015. Growth in this region is attributed to the rising need for
advanced MES in industries aimed at integrating data from ERP and
routing the information to plant floor for efficient operation.
Europe followed North America and held the second largest market
share in terms of revenue in 2014. Asia Pacific region closely
followed Europe region and is anticipated to grow at the highest rate
during the forecast period.
Key players have
also been profiled on the basis of company overview, financial
overview, business strategies and recent developments in the field of
manufacturing execution system (MES) industry. Major market
participants profiled in this report 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.
The report studies
the global manufacturing execution system (MES) market, and provides
estimates in terms of revenue (USD Million) from 2015 to 2023. Market
estimates on the basis of process industry, and discrete industry for
each region.
About
Us :
Transparency Market
Research is a global market intelligence company, providing global
business information reports and services. Our exclusive blend of
quantitative forecasting and trends analysis provides forward-looking
insight for thousands of decision makers. Our experienced team of
Analysts, Researchers, and Consultants, use proprietary data sources
and various tools and techniques to gather, and analyze information.
Our data repository
is continuously updated and revised by a team of research experts, so
that it always reflects the latest trends and information. With a
broad research and analysis capability, Transparency Market Research
employs rigorous primary and secondary research techniques in
developing distinctive data sets and research material for business
reports.
No comments:
Post a Comment