The global manufacturing execution system market was valued at US$ 10.08 Bn in 2018 and is expected to reach US$ 32.93 Bn by 2027 with a CAGR growth rate of 14.3% in the forecast period from 2019 to 2027. In the quest for differentiation and improved productivity, the manufacturing sector has begun to significantly invest in the automation of the plant floor, since the past few years. The investment is particularly concerning the procurement of hardware as well as software for supporting and implementing sensors, actuators, programmable logic controllers (PLCs), and supervisory control and data acquisition (SCADA); and modernizing the machinery as well as the supervisory systems.
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The information disparity among the areas of the company management could be resolved, and numerous difficulties can be evaded with the next-gen Information Technologies (IT), particularly Enterprise Resource Planning (ERP) systems. In this situation, perhaps the utmost feature is associated to the lack of a vital link between the IT systems implemented by the enterprise, such as an ERP, whose deficiency is evident amongst the automated processes with the other areas, ranging from the purchasing area, production management, as well the human resources and the financial areas. manufacturing execution system is implemented to eradicate the issue of the lack of communication between the productive area and the ERP systems. The manufacturing execution system market is expected to witness growth as these systems offer the necessary links to enhance applicable relationships, and boost the manufacturing competitiveness.
The manufacturing execution system market is segmented on component, deployment, and industry type. Based on the component, the manufacturing execution system market is bifurcated into software and services. Based on deployment, the manufacturing execution system market is segmented into the cloud and on-premise. Cloud-based deployment contributed a substantial share in the global manufacturing execution system market. Several organizations are leveraging cloud services, which is creating a demand for manufacturing execution system across businesses. If a company has decided to shift from on-premise to cloud, they might face several challenges such as security threats. Hence, it’s important to build a solution that maintains proper security and document cautiously. Furthermore, the cloud has a greater demand to connect with more clients, customers, partners, and other businesses across the locations with minimum effort. Also, cloud-based deployment is expected to witness high CAGR in the manufacturing execution system market.
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Further, the consequence faced by the companies using an on-premise deployment type is high costs related to installation, management, up-gradation, and maintenance of complete solutions require to run better than the cloud computing environment. The on-premise structure needs software licenses, integration capabilities, and IT technicians to support, manage, and operate the complexities issues which may arise during the access of software.
Some of the key players in the manufacturing execution system market include ABB Ltd., Dassault Systemes SE, Emerson Electric Co., General Electric Company, Honeywell International Inc., Rockwell Automation, Inc., SAP SE, Schneider Electric SE, Siemens AG, and Werum IT Solutions GmbH (Korber), among others. With the increasing global competition for manufacturing products due to uncertain or shorter life cycles demand, enterprises are adopting advanced technologies to serve customers seeking low costs, fast delivery, and greater customization. The know-how to rapidly and efficiently respond in an attempt to satisfy the requirements of customers has become an aspect of providing a competitive edge to several companies.
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The overall manufacturing execution system market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the manufacturing execution system market. It also provides the overview and forecast for the global manufacturing execution system market based on all the segmentation provided concerning five primary reasons such as North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. Also, primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the manufacturing execution system industry.
The research provides answers to the following key questions:
What is the estimated growth rate of the market for the forecast period 2020-2027? What will be the market size during the estimated period?
What are the key driving forces responsible for shaping the fate of the manufacturing execution system market during the forecast period?
Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the manufacturing execution system market?
What are the prominent market trends influencing the development of the manufacturing execution system market across different regions?
What are the major threats and challenges likely to act as a barrier in the growth of the manufacturing execution system market?
What are the major opportunities the market leaders can rely on to gain success and profitability?
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