The Global Modern Manufacturing Execution System Market is Projected to Grow at a CAGR of 16.1% During the Forecast Period: MRFR

Pune, India, April 2021, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Modern Manufacturing Execution System Market.

The global market for modern manufacturing execution systems is projected to register a CAGR of 16.1% during the forecast period, 2020–2027. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the market in the coming years.

A modern manufacturing execution system (MMES) comprises hardware or software components that help manage and optimize production activities from the launch of orders to finished goods. It acts as a control system that helps monitor and control the work in progress on the factory floor. These systems help keep track of all manufacturing information in real-time and enable receiving updated data from robots, machine monitors, and employees continuously. Moreover, it can perform timed operations as part of the routing used in workstation scheduling automatically. MMES have been evolving, and their capabilities are broadening; this helps manage the internal quality and supply chain. Along with its core functions, an MMES helps manufacturers overcome the challenge of regulatory compliance set by the Food and Drug Administration (FDA) for regulated industries such as food and beverage, pharmaceuticals, medical device class, and biotechnology. In the past few years, the market for modern manufacturing execution systems has witnessed significant growth.

Presently, the low deployment cost, increasing industrial automation, the adoption of factory automation technologies, and the importance of regulatory compliance are the driving factors for this market. Globally, as more and more manufacturing companies adopt the latest automation technologies to improve their operational processes, it will create market opportunities for manufacturing execution system providers. However, high investments and costs involved in the maintenance and upgrade of manufacturing execution systems act as restraining factors for the market.

Segmental Analysis

The global modern manufacturing execution system market is classified based oncomponent, deployment, and discrete industry.

Based on component, the modern manufacturing execution system market has been segmented intosoftware and services. The software segment held the larger market share in 2019, with a market value of USD 8419 million; it is expected to register the CAGR of 14.9% during the forecast period.

Based on deployment, the global modern manufacturing execution system market is segmented into on-premise, cloud, and hybrid. The cloud segment held the largest market share of 40.3% in 2018, with a market value of USD 5,380.3 million; it is expected to register a CAGR of 16.7% during the forecast period.

Based on discrete industry, the modern manufacturing execution system market is divided into automotive, aerospace & defense, medical, FMCG, electronics, and others.The electronics segment held the largest market share of 26.2% in 2018, with a market value of USD 3,505.7 million; it is expected to register a CAGR of 17.7% during the forecast period.

Competitive Analysis

The key players of the global modern manufacturing execution system market include Siemens AG (Germany), ABB LTD (Switzerland), Emerson Electric CO. (US), General Electric Company (US), Applied Materials Inc (US), SAP SE (Germany),Werum IT Solutions Gmbh (Germany), Rockwell Automation Inc (US), Dassault Systemes (France), Honeywell Internationational Inc (US), and Tebis Technische Informationssyteme AG (US).

Regional Analysis

For the purpose of analysis, the modern manufacturing execution system market has been categorized into four regions—North America, Europe, Asia-Pacific, and the rest of the world. The rest of the world segment has been further divided into the Middle East & Africa and South America. North America led the modern manufacturing execution market in 2019, whereas Asia-Pacific is expected to be the fastest-growing region in the modern manufacturing execution market during the forecast period. Europe followed North America in the modern manufacturing execution market in terms of share in 2019.