CHICAGO, Dec. 4, 2019 /PRNewswire/ -- According to the new market research report on the "Manufacturing Execution System Market by Offering (Software, Services), Deployment (On-premises, On-demand, Hybrid), Process Industry (Food & Beverages, Pharmaceuticals & Life Sciences), Discrete Industry, Geography - Global Forecast to 2024", published by MarketsandMarkets™, the Manufacturing Execution System Market is expected to grow from USD 11.8 billion by 2019 to USD 23.0 billion by 2024 at a CAGR of 14.3% from 2019 to 2024. A few key factors driving the growth of this market include the need for mass production and connected supply chain to cater to the growing population, increasing use of industrial automation in process and discrete industries, low deployment cost, and growing importance of regulatory compliance.
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MES market for services to grow at highest CAGR during forecast period
The demand for MES services is expected to grow at the highest CAGR during the forecast period. Manufacturing execution systems. The manufacturers provide services such as opportunity assessment, solution migration and enhancement, product evaluation, MES application configuration, business analysis, selection services, customization, and multi-level support services.
On-premise deployment of MES is expected to hold largest share of manufacturing execution system market during forecast period
The process industry comprises sectors such as oil & gas, pharmaceuticals & life sciences, chemicals, food & beverages, pulp & paper, energy & power, and water & wastewater management. On-premises manufacturing execution systems are being increasingly deployed in these sectors as they allow manufacturers to manage the system within the premises, which reduces the time and cost. It also helped in increased security and enhanced the productivity of processes. Therefore, the market is expected to grow in the next five years.
North America to dominate manufacturing execution system market during forecast period
North America has been a significant contributor to the growth of the overall manufacturing execution system market owing to the increasing use of manufacturing execution systems in process and discrete industries in the region, and the presence of players developing MES solutions are some of the driving factors for the growth of the MES market in North America.
Browse in-depth TOC on "Manufacturing Execution System"
120 – Tables
46 – Figures
180 – Pages
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The report profiles the most promising players in the market. The MES market is highly dynamic because of the presence of a significant number of big and small players operating in it. Key players in the market are ABB Ltd. (Switzerland), AVEVA plc (UK), Applied Materials, Inc. (US), Dassault Systèmes (France), Honeywell International, Inc. (US), Rockwell Automation, Inc. (US), Siemens AG (Germany), SAP SE (Germany), Oracle Corporation (US), and Werum IT Solutions GmbH (Germany).
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