The Secrets Of Modern Manufacturing Execution System Market 2027 In One Place — Check It Now
Global Modern Manufacturing Execution System Market Research Report: by Component (Software (Enterprise Resource Planning (ERP), Warehouse Management, Product Lifecycle Management (PLM)), Service (Consulting & Development, Training & Support, Integration Service)), Deployment (Cloud, On-Premise), Discrete Industry (Electronics, Automotive, Medical, FMCG, Aerospace & Defense), Region (North America, Europe, Asia-Pacific, Rest of the World) — Forecast till 2027
Market Snapshot
The global modern manufacturing execution system market is expected to expand at 15.41% CAGR during the forecast period 2019–2027.
A manufacturing execution system is an information system that monitors, connects, and controls complex data flows and manufacturing equipment on the factory floor. The primary objective of a manufacturing execution system is to ensure the effective implementation of the manufacturing operations and enhancement of the production output. For instance, AVEVA Group PLC offers manufacturing execution systems for hybrid and batch manufacturing processes. It helps in maximizing quality, profitability, and compliance of manufacturing operations.
Manufacturing execution systems are being used in manufacturing processes in several ways with the objective to increase productivity, reduce labor cost, and streamline production processes. The US and Japan were the initial leaders in this area and soon it gained popularity in other countries as well. Europe also showed significant pace in terms of the development and adoption of manufacturing execution system solutions.
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Presently, low installation cost, increasing industrial automation, adoption factory automation technologies, and stringency of regulatory compliance are driving the growth for this market. Globally, as more and more manufacturing companies adopt the latest automation technologies to improve their operational processes, it will create market opportunities for manufacturing execution system providers. However, high investments and cost involved in the maintenance and upgrades of manufacturing execution systems can act as restraining factors for the market in the forecast period.
The global modern manufacturing execution system market was valued at USD 12,125.4 million in 2017 and is estimated to reach USD 46,376.8 million in 2027 with a compound annual growth rate (CAGR) of 15.41%.
Key Players
Some of the prominent players in the global modern manufacturing execution system market include General Electric Company (US), ABB Ltd (Switzerland), SAP SE (Germany), Emerson Electric Co. (US), Werum IT Solutions GmbH (Germany), Applied Materials, Inc. (US), Siemens AG (Germany), Rockwell Automation, Inc. (US), Dassault Systèmes (France), Honeywell International Inc. (US), and Tebis Technische Informationssysteme AG (Germany).
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Global Modern Manufacturing Execution System Market is estimated to grow at a CAGR of 15.41% over the forecast period :Market HighlightsThe 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.Modern Manufacturing Execution System Market 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.The global modern manufacturing execution system market is expected to reach USD 46,376.8 million at a CAGR of over 15.4% by the end of the forecast period 2019–2027.Click for sample report: Read on marketresearchfuture.comTaste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report.
Avail the in-depth table of content TOC & market synopsis on “Global Modern Manufacturing Execution System Market Research Report -Forecast to 2027”.Key PlayersSome of the prominent players in the global modern manufacturing execution system market include General Electric Company (US), ABB Ltd (Switzerland), SAP SE (Germany), Emerson Electric Co. (US), Werum IT Solutions GmbH (Germany), Applied Materials, Inc. (US), Siemens AG (Germany), Rockwell Automation, Inc. (US), Dassault Systèmes (France), Honeywell International Inc. (US), and Tebis Technische Informationssysteme AG (Germany).Global Modern Manufacturing Execution System Market SegmentationThe global modern manufacturing execution system market has been segmented on the basis of component, deployment, discrete industry, and region.
The component segment has been segmented into software and service.
Market SynopsisAs per the evaluation by Market Research Future Reports (MRFR), the global 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.
It will provide market opportunities for manufacturing execution system providers.
However, the expenses involved in maintaining the system and the requirement of high investments are likely to impede market growth during the forecast period.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/1094The 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.Market SegmentationThe 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 AnalysisThe geographical evaluation of North America, Europe, Asia-Pacific, and Rest of the World (RoW) has been performed.
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.
