This prompts automation in industries to speed up processes and minimize human intervention and hence, errors, marring traditional paper-based record keeping systems. Consequently, this has resulted in generating the demand for software-based solutions such as manufacturing execution systems (MES).
In the past few years, the MES market has grown significantly owing to the proliferated industrialization, worldwide. The market has been valued at a great deal and is expected to slice a larger revenue pocket by the end of the forecast period.
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The MRFR analysis is segmented into five key dynamics for enhanced understanding.
By Deployment Type : On-premise, On-demand, and Hybrid.
By Offering: Software and Service.
By Process Industry: Food & Beverages, Oil & Gas, Chemicals, Pulp & Paper, Pharmaceuticals, Life Sciences, Energy & Power, and Water & Wastewater Management among others.
By Discrete Industry: Automotive, Aerospace & Defense, Medical Devices, and Consumer Packaged Goods, among others.
By Regions : Europe, North America, APAC, and the Rest-of-the-world (RoW).
The North American region, heading with the heavy industrialization and existence of large manufacturing plants dominates Modern MES Market Covid 19, accounting for the largest market share. Factors such as the increasing industrialization, rapid technological advancements, and the extensive uptake of advanced technologies are driving the growth of the regional market.
The modern MES market in the European region is expected to account for the second-largest market, following the North American market closely. Proliferating manufacturing sector and resurging economy in the region are some of the factors fostering the growth of the regional market.
The Asia Pacific region has emerged as a promising market for modern MES that has been valued hugely in the year 2017. Most of the countries in the APAC are in developing phase which is attracting the major players from the multiple sectors to the region which is increasing foreign investments.
The global modern MES market appears to be highly competitive characterized by the presence of several well-established as well as small players. Matured players incorporate strategic initiatives such as acquisition, collaboration, partnership, expansion, and technology launch in order to gain a competitive advantage and thus to maintain their positions in this market.
The market leaders are also trying to beat each other by offering next-generation MES services coupled with the big data analysis, and cloud computing features. The long-term contract between buyers and MES providers translates as high switching costs for buyers and strong bargaining power of suppliers.
The key Leaders and the other prominent players in the market are trying to provide integrated MES with ERP and PLM solutions to attract more customers.
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Key players leading the global modern MES market include General Electric Company (US), Emerson Electric Co. (US), ABB Ltd. (Switzerland), Rockwell Automation, Inc. (the US), Andea Solutions (Poland), Dassault Systems SA (France), SAP AG (Germany), Honeywell International Inc. (US), Schneider Electric SE (France), Werum IT Solutions GmbH (Germany), and Siemens AG (Germany).
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