CHICAGO, May 28, 2021 / PRNewswire / – According to new research report “”Manufacturing Execution System Market with COVID-19 Impact by Supply (Software, Services), Deployment, Organizational Size, Process Industry (Food and Beverage, Pharmaceuticals and Life Sciences), Discrete Industry, Geography – Global Forecast to 2026“published by MarketsandMarkets â¢, The Manufacturing Execution System market is expected to grow $ 11.5 billion in 2021 to $ 17.1 billion by 2026 with a CAGR of 8.3% from 2021 to 2026. Some key factors for the growth of this market are the need for mass production and an interconnected supply chain to meet the growing population and the increasing use of industrial automation in the process and discrete industry, the growing importance of regulatory compliance and tax policies formulated by regional financial institutions to keep production facilities running amid the COVID-19 crisis, and the increasing convergence of IT and OT in the manufacturing industry.
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Manufacturing execution systems market for services expected to grow with the highest CAGR over the forecast period
The demand for manufacturing execution system services is expected to grow at the highest CAGR over the forecast period. Manufacturers offer services such as opportunity assessment, solution migration and improvement, product evaluation, MES application configuration, business analysis, selection services, customization and tiered support services.
It is imperative to have process selection services in place to optimize the performance of manufacturing operations. All of these ancillary services, with the exception of the main services like installation, training, maintenance and software upgrade, are expected to drive the service segment amid the COVID-19 pandemic. However, the growth rate would not come close to the estimate of the market scenario before COVID-19.
The on-premise deployment of MES is expected to hold the largest share of the manufacturing execution systems market during the forecast period
The process industry includes sectors such as oil and gas, pharmaceuticals and life sciences, chemistry, food and beverage, pulp and paper, energy and energy, and water and wastewater management. Local manufacturing execution systems are increasingly being used in these sectors as they allow manufacturers to manage the system within the premises, reducing time and costs. It also contributed to increasing security and increasing the productivity of processes. Hence, the market is expected to grow over the next five years.
The local deployment segment slowed in 2020 as many countries have ordered companies to operate with minimal staffing levels and are expected to grow significantly over the forecast period. Maintaining local manufacturing execution systems would require trained personnel to be present in the shop, which every manufacturer tries to avoid. With the least amount of human intervention, the hybrid model provides the best deployment solution that allows manufacturers to make the most of the system to run manufacturing during the post-COVID-19 scenario.
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North America to dominate the manufacturing execution systems market during the forecast period
North America has been instrumental in the growth of the overall manufacturing execution systems market due to the increased use of manufacturing execution systems in the process and discrete industries in the region, and the presence of players developing MES solutions are some of the driving factors behind the growth of the MES- Market in North America.
The North American manufacturing execution systems market has slowed in growth but is expected to hold the largest market share in 2021. Due to the regional lockdown, the market size decreased significantly from 2019 to 2020. To combat the economic pandemic triggered by COVID-19, the US government recently launched a $ 2 trillion Stimulus Bill called the Coronavirus Aid, Relief and Economic Security (CARES) Act. Hence, the North American market is expected to grow significantly in 2021 and 2026
The report introduces the most promising players in the market. The MES market is very dynamic due to the presence of a large number of large and small companies operating in it. The main players in the market are ABB Ltd. (Switzerland), AVEVA plc (UK), Dassault SystÃ¨mes (France), Honeywell International, Inc. (USA), Rockwell Automation, Inc. (USA), Siemens AG (Germany), SAP SE (Germany), General Electric Company (USA), Oracle Corporation (USA), Emerson Electric Co. (USA) and Werum IT Solutions GmbH (USA)Germany)
Industrial Control and Factory Automation Market by solution (SCADA, PLC, DCS, MES, PLM, PAM, functional safety), component (industrial robots, industrial 3D printing, control valves, image processing, HMI), industry and geography – global forecast up to 2025
Plant Asset Management Market (PAM) by Offer (Software and Services), Deployment Mode (Cloud-Based and On-Premises), Asset Type (Production Assets and Automation Assets), End User Industry (Process and Discrete), and Geography – Global Forecast to 2024
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