Modern Manufacturing Execution System Market Strategy, Emerging Technologies, Global Trends and Forecast by Regions
Modern Manufacturing Execution System Market Strategic Assessment, Research, Region, Share and Global Expansion by 2027
(firmenpresse) - Market Synopsis
As per the evaluation by Market Research Future Reports (MRFR), the Modern Manufacturing Execution System Market is estimated to expand at a CAGR of 15.41%, with a value of USD 12,125.4 million during the forecast period from 2019 to 2027. The low installation cost is estimated to be a significant factor driving the global modern manufacturing execution system market 2020. There has been stringency in regulatory compliance which drives the market. Besides, manufacturing companies are adopting the latest automation technologies for efficient operational processes. It will provide market opportunities for manufacturing execution system providers. Moreover, there has been an increase in industrial automation which is affecting the market. Furthermore, there has been an adoption of the latest automation technologies in factories which is likely to escalate the market. However, the expenses involved in maintaining the system and the requirement of high investments are likely to impede market growth during the forecast period.
The outbreak of COVID-19 is likely to change the market dynamics of several regions. Several markets have been influenced significantly due to the observation of nationwide lockdown in various countries.
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Market Segmentation
The global modern manufacturing execution system market can be segregated based on deployment, component, discrete industry, and region.
Based on deployment, the global modern manufacturing execution system market can be classified into the hybrid, cloud, and on-premise.
Based on component, the global modern manufacturing execution system market can be classified into Software (Enterprise Resource Planning (ERP), Warehouse Management, and Product Lifecycle Management (PLM)) and Service (Consulting & Development, Training & Support, and Integration Service).
Based on the discrete industry, the global modern manufacturing execution system market can be classified into Automotive, Electronics, Medical, Aerospace & Defense, FMCG, and others.
Based on region, the global modern manufacturing execution system market can be classified into North America, Europe, Asia-Pacific, and Rest of the World (RoW).
Regional Analysis
The geographical evaluation of North America, Europe, Asia-Pacific, and Rest of the World (RoW) has been performed. As per the analysis by MRFR, North America is estimated to dominate the global market. The region is likely to acquire the largest market share during the forecast period. There have been several initiatives taken by the government to encourage the usage of Industry 4.0, which is likely to drive the market growth. The surge in demand for food and beverage, water and wastewater treatment, power industries has led to the expansion of the growth of North American modern execution system market. The research states that Europe is estimated to acquire the second-largest market. The fast adoption of IoT and industrial automation has surged the growth of modern manufacturing execution system market. Besides, there are several established companies in the region which additionally augments the regional market.
On the other hand, the APAC region is estimated to expand at the highest CAGR during the forecast period. The primary reason driving the market is the rise in the number of manufacturing plants across automotive power, and pharmaceuticals industries where the system is in high demand. Besides, the companies in the region are making a massive investment in research and development for industrial IoT and cloud technology, which propels the market expansion.
Key Players
The global players of the market are ABB Ltd (Switzerland), Siemens AG (Germany), Honeywell International Inc. (US), Emerson Electric Co. (US), Applied Materials, Inc. (the US), General Electric Company (US), SAP SE (Germany), Rockwell Automation, Inc. (the US), Werum IT Solutions GmbH (Germany), Dassault Systèmes (France), and Tebis Technische Informationssysteme AG (Germany).
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