June 25, 2024
Manufacturing Execution Systems and Software (MES) Market

Manufacturing Execution Systems and Software (MES) Market is Estimated to Witness High Growth Owing to Increasing Need to Improve Operational Efficiency

Manufacturing execution systems (MES) are computerized systems used in manufacturing industries to track and document production activities and processes. MES provides solutions for gathering and analysing real-time production data from equipment and processes on the plant floor level which helps optimize production planning, labor cost and aids in scheduling and dispatching work orders. This in turn leads to higher productivity, reduced costs, consistent product quality and compliance with regulatory frameworks.

The Global Manufacturing Execution Systems and Software (MES) Market is estimated to be valued at US$ 16.33 Bn in 2024 and is expected to exhibit a CAGR of 6.7% over the forecast period 2024 To 2031.

Key Takeaways

Key players operating in the Manufacturing Execution Systems (MES) are General Electric Company, Mitsubishi Heavy Industries Ltd, RWG (Repair & Overhauls) Limited, Metalock Engineering Group, Goltens Worldwide Management Corporation, Siemens Energy AG, Sulzer Ltd, Doosan Heavy Industries and Construction, Solar Turbines Incorporated, and Ethos Energy LLC. Second paragraph is talking about the key opportunities in market and third paragraph is talking about global expansion of market.

Key players related content (Key players operating in the Manufacturing Execution Systems (MES) are General Electric Company, Mitsubishi Heavy Industries Ltd, RWG (Repair & Overhauls) Limited, Metalock Engineering Group, Goltens Worldwide Management Corporation, Siemens Energy AG, Sulzer Ltd, Doosan Heavy Industries and Construction, Solar Turbines Incorporated, and Ethos Energy LLC.) Key opportunities are increasing demand for process automation and digitization across industries, rising need to improve operational efficiency and flexibility throughout production and growing investments in industry 4.0 technologies. The rising globalisation and a rapidly expanding manufacturing sector especially across developing economies including China, India will propel global expansion of the MES market over the forecast period.

Market drivers

The key driver for the Manufacturing Execution Systems And Software Market Growth is the increasing need to improve operational efficiency across manufacturing facilities. MES aids in centralizing production data, tracking KPIs, automating workflows and streamlining operations which help manufacturers reduce production cycle times, lower costs through optimal resource utilization and enhance profitability. This drives greater demand for MES solutions globally.

PEST Analysis

Political: Manufacturing execution systems and software face some risks from changes in laws and regulations around data privacy and security as they collect and store critical production and operational data.
Economic: The growth of the manufacturing sector and demand for industrial automation to drive efficiency are helping to boost spending on MES software and systems. Rising GDP and disposable incomes in developing nations are also supporting market expansion.
Social: Adoption of MES is increasing as manufacturers recognize the importance of connectivity, data collection, and efficiency gains to meet evolving customer demands and preferences. Younger workforce entering manufacturing expects use of modern technologies.
Technological: Advancements in sensors, networking, edge computing, and analytics are enhancing MES capabilities around the Industrial Internet of Things. Increased connectivity between plant systems and use of cloud platforms is supporting remote operations and predictive maintenance.

Geographic regions where market in terms of value is concentrated:

North America and Western Europe currently hold the largest shares of the global MES market due to heavy investments by manufacturers in emerging technologies. However, the Asia Pacific region, led by China, India, and Japan, is expected to grow the fastest owing to rising industrialization and foreign investments in manufacturing industries.

The fastest growing region for this market:

Asia Pacific is projected to be the fastest growing regional market for MES software and systems during the forecast period. Expanding manufacturing capacities, foreign investments, adoption of Industry 4.0 practices, and government initiatives to boost industrial automation are driving rapid adoption of MES solutions in Asia Pacific countries over the coming years.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it