Modern Manufacturing Execution System Market Overview
The modern manufacturing execution system (MES) market is experiencing significant growth and is projected to continue expanding in the coming years. According to various reports, The Modern Manufacturing Execution System market is projected to grow from USD 13.1 Billion in 2023 to USD 34.5 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 14.83% during the forecast period (2023 - 2030).
Factors Driving Market Growth
Several factors are driving the growth of the modern manufacturing execution system market. These include:
Increasing focus towards hyperautomation: The market is being driven by the increasing focus on hyperautomation, which involves the use of advanced technologies to automate and optimize manufacturing processes.
Government focus on digital transformation: Governments around the world are emphasizing digital transformation in the manufacturing sector, which is contributing to the growth of the modern MES market.
Integration of new technologies: The integration of new technologies, such as the Internet of Things (IoT) and artificial intelligence (AI), is fueling the growth of the market.
Demand for operational efficiency: The increasing demand for operational efficiency, automation, and digitization in manufacturing industries is driving the adoption of MES solutions.
Growing complexity of manufacturing processes: The growing complexity of modern manufacturing processes, characterized by advanced technologies and interconnected systems, is leading to the adoption of MES systems.
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Market Segmentation
The modern manufacturing execution system market is segmented based on various factors, including application type, offering, deployment, end-user industry, and geography. The application types include FMCG, Medical, Automotive, Electronics, Aerospace & Defense, among others, with the FMCG segment dominating the market.
The market is also segmented based on offering (software, service), deployment (on-premise, cloud), and end-user industry (Food & Beverage, Pharmaceutical & Lifesciences, Oil & Gas).
Key Players
Several major companies operate in the modern manufacturing execution system market. Some of the key players include,
- ABB
- Accenture Plc
- Andea Solutions Sp. z o.o.
- Dassault Systems SE
- Emerson Electric Co.
- GE Digital
- Honeywell Process Solutions
- Rockwell Automation, Inc.
- SAP AG
- Schneider Electric SE
- Siemens PLM Software, Inc.
- Werum IT Solutions GmbH
- Yokogawa Electric Corporation.
- SAP SE
Regional Analysis
North America is currently the most significant shareholder in the global modern manufacturing execution system market, with the region anticipated to grow at a CAGR of 16.4% during the forecast period.
The leading modern manufacturing execution system suppliers in North America are expected to contribute to the region's dominance in the market.
Conclusion
The modern manufacturing execution system market is experiencing significant growth and is projected to continue expanding in the coming years. Factors such as increasing focus on hyperautomation, government emphasis on digital transformation, and the integration of new technologies are driving the market growth. The market is segmented based on various factors, including application type, offering, deployment, end-user industry, and geography. Major players in the market include Siemens AG, Rockwell Automation, SAP SE, ABB Ltd., and Honeywell International Inc. North America is currently the most significant shareholder in the global market.
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