October 18, 2019 by Market-NewsFlash
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
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%.
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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