The manufacturing execution system or MES helps the manufacturing decision makers to learn about the current conditions of the plan floor by providing real-time data related to a multitude of components of the production process. In modern times, they have become vital for the key decision makers of the enterprises. Changing role of the information technology in the organizations has created scope of enhancements and inclusions of various advanced systems into the regular working setups. The MES systems are one of these systems, introduced into the enterprises to analyze, schedule and organize the manufacturing systems and all of their components. The global manufacturing execution system market is driven by the rising adoption rate and advancing applications of these technologies.
What Drives the Market?
Manufacturing execution systems have changed the regular drills of manual operations with advanced applications. They are popularly being used for firm decision making and precise data transfer. Connected networks and ability to handle vital components of various systems are considered to be the greatest advantages of the MES models. The ability to provide swift data gives stronger decision making power to the key leaders in the enterprises. These systems have been used in the process industries for a long time. However, their inclusion in the discrete industries has created better business opportunities to the key players in the manufacturing execution system market. Growth in demand and increased rate of adoption are expected to be the key drivers for the industry.
Segments of MES Market
Researchers segment the global manufacturing execution system market on the basis of the functions, applications and demand of these systems. Based on the types of products or functions, the global market is categorized into resource allocation and status, scheduling, document control, dispatch and production, labor management, performance analysis, genealogy and product tracking, quality analysis, equipment effectiveness, maintenance management, inventory management and so on. Application sub-segments include oil and gas, food and beverages, water and wastewater management, life sciences, aerospace and defense, paper and pulp, fast moving consumer goods, and chemicals. Geographic segments include Europe, North America, APAC and the rest of the world.
What to Expect from 2014?
Expert studies and detailed analysis of all the aforementioned segments suggest that the MES market is set to witness steady growth during the timeframe of the next few years. Rapid shift from manual operations to paperless operations and improved results in terms of decision making are expected to drive the industry at steady CAGR. According to the latest reports, the global manufacturing execution systems market is expected to grow at a CAGR of over 12% from 2014 to 2020. At the projected CAGR, the industry is set to grow from the current market worth of over $6.66 billion (in 2014), in order to reach past $13.59 million by the end of the year 2020. North America and Europe are estimated to account for similar hold on the global market. APAC on the other hand is set to witness strongest growth with rising manufacturing and investment opportunities for the key players.