The demand within the global manufacturing execution system (MES) market is growing on account of advancements in the secondary sector. The essence of industrial manufacturing lies in achieving agility of operations, and reducing the cost and time per unit of production. Furthermore, industrial units have shown immense enthusiasm in embracing computing technologies that can accelerate the process of manufacturing. The pervasiveness of manufacturing execution systems has paved way for increased revenues within the market. Decision-makers across industrial units need to be wary of their responsibility in managing manufacturing processes. Henceforth, the global manufacturing execution system (MES) market is slated to attract voluminous revenues in the years to follow.
In a report by Transparency Market Research (TMR), the total value of the global manufacturing execution system (MES) market is expected to touch US$ 18,067.9 Mn by 2025. Besides, the global manufacturing execution system (MES) market is projected to expand at a CAGR of 11.2% over the period between 2017 and 2025. Several services such as consulting, maintenance, and integration fall under the purview of manufacturing execution systems. Use of MES in the metal and mining industry shall also attract key revenues for the global market.
Improving Dynamics of the Manufacturing Sector
The oil and gas industry has become an important consumer of manufacturing execution systems. The need to expedite processes across this industry has created fresh opportunities within the market. The scope of manufacturing execution systems spans into a multitude of domains including product lifecycle, material tracking, and product quality. The relevance of the aforementioned operations within the manufacturing sector has generated humongous revenues within the global manufacturing execution system (MES) market. Furthermore, use of these systems in the aerospace and defense sector has also garnered the attention of the masses. Development of cutting-edge surveillance and reconnaissance technologies within the defense sector holds immense utility for governments and state planning authorities.
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Utility of MES in Physical and Cyber Security
The past decade has witnessed improvements in manufacturing dynamics of several industrial units. The advent of new technologies within healthcare manufacturing has become the basis for market growth. The need for improved systems for physical and cyber security has also garnered the attention of the vendors. Deployment of manufacturing execution systems in the security sector shall bring in fresh revenues within the global market. The electronics and electrical industry has also transcended as a prominent consumer within the global manufacturing execution system (MES) market. Agility has become the top-notch priority of industrial units, and this factor has generated fresh revenues within the global market.
Some of the prominent players in the global manufacturing execution system (MES) market are Honeywell International Inc., Schneider Electric S.E., General Electric Company, Dassault Systems SA, General Electric Co., and Emerson Electric Co.
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The global manufacturing execution systems market can be segmented by:
- Oil and Gas
- Food and Beverages
- Pulp and Paper
- Energy and Power Market
- Water and Wastewater Treatment
- Aerospace and Defense
- Electronics and Electrical
- Medical Devices
- Metal and Mining