DUBLIN--(BUSINESS WIRE)--The "Manufacturing Execution Systems Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The Manufacturing Execution Systems Market was valued at USD 11.56 billion in 2020 and is expected to reach USD 27.3 billion by 2026, at a CAGR of 15.4% over the forecast period (2021-2026).
Companies Mentioned
- Siemens AG
- Rockwell Automation
- SAP SE
- ABB Ltd.
- Dassault Systemes S.A.
- Honeywell International Inc.
- AVEVA Group PLC
- Applied Materials Inc.
- Oracle Corporation
- General Electric Company
- Emerson Electric Co.
- Epicor Software Corporation
Key Market Trends
Pharmaceutical and Life Sciences Industry to Hold Significant Share
- With the continuously evolving trends in the pharmaceutical industry, manufacturers are experiencing increased pressure to keep pace and modify their operations to meet changing needs. Manufacturing Execution Systems (MES) enable the pharmaceutical industry to reduce production costs and improve compliance with regulatory requirements significantly.
- MES has been successfully implemented within the pharmaceutical & life sciences industry since the Food and Drug Administration (FDA) decreed the final 21 Part 11 regulations on 21 March 1997. These have provided criteria for the acceptance by the FDA, under certain circumstances, of electronic signatures, electronic records, and handwritten signatures executed to electronic records as equivalent to paper records and handwritten signatures executed on paper.
- Moreover, the growing concern towards counterfeit drugs entering the supply chain has resulted in the adoption of global track and trace regulations to protect patient safety and ensure product integrity. The EU Falsified Medicine Directive (EUFMD), the US Drug Supply Chain Act (DSCSA), and other global regulations mean that manufacturers are now trying to ensure compliance and add innovative technologies and increase the resources to manage the additional administrative burden. The use of barcodes and serialisation numbers, as well as the incorporation of RFID tags inside the packaging equipment, are all measures that are being taken to improve the quality of traceability and tracking.
North America to Hold Major Share
- North America is expected to continue to hold the significant share of the MES market over the forecast period, majorly due to the presence of several significant MES vendors, such as Honeywell (United States), and Oracle Corporation (United States), Emerson (United States), and Rockwell Automation (United States) among others which drive innovation. Hence, there is intense competition among the players.
- Moreover, North America's strong financial position enables it to invest heavily in advanced solutions and technologies that have provided a competitive edge in the market. Also, the region is viewing several partnerships by market players, which is helping them combine their solutions and offerings to increase their market presence.
- The ongoing continuous expansions and investments toward digitization across the industries in the region are one of the potential opportunities for the market. Growth in the number of SMEs and the increasing digitization in the manufacturing functions by large organizations, such as IBM and General Electric, are aiding the growth of the IoT market in the regional manufacturing segment. SMEs are becoming increasingly flexible to incorporate new technologies with their existing systems, whereas large manufacturers have substantial budgets for digitization. This is enabling the adoption of EMS.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Adoption of Digitisation to Improve Production
4.2.2 Introduction of Cloud Technology to Consolidate Information
4.3 Market Restraints
4.3.1 High Investment and Running Costs Involved in Implementation and Upgrade of Manufacturing Execution Systems for Small-Scale Production
4.3.2 Lack of Awareness Regarding Benefits of MES Solutions Among SMEs
4.4 Industry Attractiveness - Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Offering
5.1.1 Software
5.1.2 Service
5.2 By Deployment
5.2.1 On-premise
5.2.2 Cloud
5.3 By End-user Industry
5.3.1 Food & Beverage
5.3.2 Oil & Gas
5.3.3 Pharmaceutical & Lifesciences
5.3.4 Automotive
5.3.5 Electronics & Semiconductor
5.3.6 Other End-user Industries
5.4 Geography
5.4.1 North America
5.4.2 Europe
5.4.3 Asia-Pacific
5.4.4 Rest of World
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/f5oi89
