Modern Manufacturing Execution System Market 2020: Analysis, Segments, Size, Share, Industry Growth and Recent Trends by Forecast to 2027
Overview:
The global modern manufacturing execution system market has experienced a paradigm shift in the past decade owing to various technological changes; it is expected to grow at a steady pace in the upcoming years. Geographically, the market for modern manufacturing execution system is spanned across North America, Europe, Asia-Pacific, and the rest of the world. North America dominated the global modern manufacturing execution system market with a market share of 32.5% in 2017 and a market value of USD 3,934.4 million; the market is expected to register a CAGR of 15.3 % during the forecast period. High demand for manufacturing execution systems from such as water and wastewater treatment, food and beverage, power industries has contributed to the growth of North American modern manufacturing execution system market. Furthermore, government initiatives to promote the adoption of Industry 4.0 in the region is also expected to drive growth.
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Europe was the second-largest market in 2017, valued at USD 3,421.5 million; the market is projected to exhibit a CAGR of 14.1%. As per MRFR analysis, Europe accounted for nearly one-third of global investment in Industry 4.0. Also, rapid adoption of IoT and industrial automation has enhanced the growth of modern manufacturing execution system market in Europe to a fair degree. Companies operating in Europe such as are ABB Ltd, Andea Solutions, Dassault Systemes SA, SAP AG, Schneider Electric SE, Siemens AG, and Werum IT Solutions GmbH are investing heavily in research and development to integrate modern manufacturing execution system with automotive and manufacturing processes.
However, Asia-Pacific is expected to register the highest CAGR of 18.7% during the forecast period. The major driver of the growth in the Asia-Pacific market is the rise in the number of manufacturing plants across automotive, power, and pharmaceuticals industries where manufacturing execution system is in high demand. The region has also witnessed regular events and conferences such as International Robot Exhibition (iREX) and the System Control Fair (SCF) to deliver unique insights into major Asia-Pacific countries’ view on Industry 4.0 and the Industrial Internet of Things (IIoT). The manufacturing plants in the region are heavily investing in research and development for industrial Internet of Things (IIoT) as well as cloud technology. These manufacturing companies are increasingly adopting new and improved modern manufacturing execution systems thus, fueling the growth of the Asia-Pacific region during the forecast period.
Segmentation:
By Component: Software (Enterprise Resource Planning (ERP), Warehouse Management, and Product Lifecycle Management (PLM)) and Service (Consulting & Development, Training & Support, and Integration Service)
By Deployment: Cloud, On-Premise, and Hybrid
By Discrete Industry: Electronics, Automotive, Medical, FMCG, Aerospace & Defense, and Others
By Region: North America, Europe, Asia-Pacific, and Rest of the World.
Regional Analysis:
The global modern manufacturing execution system market by region has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. North America accounted for the largest market share of 32.45% in 2017, with a market value of USD 3,934.4 million; followed by Europe, Asia-Pacific, and the rest of the world. The major modern manufacturing execution system providers such as Emerson Electric Co., General Electric Company, Honeywell International Inc., and Rockwell Automation, Inc. among others hold the largest market share are expected to contribute to the dominance of this region during the forecast period. The US has witnessed a steady growth in the modern manufacturing execution system market over the last decade owing to the high demand for these systems from water and wastewater treatment, food, and beverage, power industries. Also, the rising need for tracking real-time data, improving data visibility, and regulating production activity off-site largely impact the growth of the North America modern manufacturing execution system market. The market in Asia-Pacific is expected to register the highest CAGR of 18.7% during the forecast period 2019–2027.
Key Players:
The key players in the global modern manufacturing execution system market are 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 Systèmes (France), Honeywell International Inc. (US), and Tebis Technische Informationssysteme AG (Germany).
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