Modern Manufacturing Execution System Market Segments By 2027 | Modern Manufacturing Execution System Market Size, Share, Trends, Opportunities and Analysis of COVID-19

Market Synopsis

As 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. 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.

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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.

Market Dynamics

Currently, low installation costs, increased industrial automation, adoption of factory automation technologies, and strict regulatory compliance are pushing this market's growth. Globally, as more and more manufacturing companies embrace the latest automation technologies to enhance their operational processes, market opportunities will be generated for manufacturing execution system providers. However, high investments and costs involved in the maintenance and upgrade of manufacturing execution systems can act as a limiting factor for the market during the forecast period.

Market Segmentation

The global market for modern manufacturing execution system has been segmented based on components.

By component, the global Modern Manufacturing Execution System Industry has been segmented into electronics, automotive, medical, FMCG, aerospace & defense, and others. The electronics segment accounted for a significant market share of 25.9% in 2017, with a value of USD 3.138.8 million; a CAGR of 17.0% is expected to be recorded during the forecast period. The automotive segment held the second-largest position in 2017, estimated at USD 2.551.9 million; a CAGR of 12.4% is expected. However, the medical segment is projected to post the highest CAGR of 17.7%.

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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