Manufacturing execution systems monitor, collect data from production operations in real-time to improve quality, enhance production processes and increase operational efficiencies. MES helps plan, automate, and document production processes ensuring accurate management of work orders, quality documentation, materials transactions, and production statistics.
The global Manufacturing Execution Systems And Software (MES) Market is estimated to be valued at Us$ 14.17 Bn in 2023 and is expected to exhibit a CAGR Of 6.7% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The integration of new technologies like the Industrial Internet of Things (IIoT), artificial intelligence, machine learning, augmented reality, and predictive analytics is accelerating the growth of the MES market. MES solutions can leverage real-time operational data collected from sensors and devices on the plant floor to enable predictive maintenance capabilities. Integrating novel technologies allows continuous monitoring of production processes for optimizing efficiency and productivity. Analytics tools in MES empower managers to identify bottlenecks, inefficiencies and potential quality issues prior to occurrence. This helps reduce downtime and waste while improving production throughput and quality. As manufacturers adopt advanced IIoT technologies for digitizing operations, the demand for integrated MES supporting real-time decision making based on analytics of sensor data is growing exponentially.
Segment Analysis
The global manufacturing execution systems and software (MES) market is dominated by discrete manufacturing sub segment. It accounts for over 60% market share due to presence of large number of small and medium scale discrete manufacturers across various industries such as automotive, machinery, electronics, etc. Discrete manufacturers require MES solutions for production planning and execution to maintain inventory, quality control, and traceability of individual products or batches on the shop floor.
Key Takeaways
The Global Manufacturing Execution Systems And Software (MES) Market Demand is expected to witness high growth over the forecast period due to growing need for production visibility and optimization across process and discrete industries.
Regional analysis:
North America dominates the global MES market currently due to presence of large manufacturing hubs and early adoption of industrial automation solutions by manufacturers in the US and Canada. However, Asia Pacific is expected to emerge as the fastest growing regional market. This is attributed to government support for industrial automation and Make in India/China initiatives that are driving modernization of manufacturing sector in various countries in the region.
Key players:
Key players operating in the manufacturing execution systems and software (MES) market are General Electric Company, Mitsubishi Heavy Industries Ltd, Siemens Energy AG, Doosan Heavy Industries and Construction, and Solar Turbines Incorporated. General Electric dominated the market in 2023 owing to its extensive product portfolio and global customer base in various process industries such as oil & gas, power, chemicals, etc. However, other prominent players are focusing on emerging discrete manufacturing industries for future growth opportunities.
Get more insights on this topic :
Check more trending articles on this topic:
