The global market for manufacturing execution system is projected to have considerable CAGR of around 5.6% during the forecast period. The market growth is mainly backed by the growing industrial automation in various sector such as automotive, oil & gas, pharmaceuticals and others. By applying the management execution system with automation technology, the manufacturers are advance their manufacturing operations for the expressed purpose of improving productivity while reducing human engagement. Manufacturing execution system offers real-time management of production and support activities, whole process definitions, assuring compliance to engineering plans and specifications. Therefore, these advantages of automation and manufacturing execution systems further encourages the demand in various sector and contribute to the market growth.
Apart from this, pharmaceuticals companies are also expected to have a significant market for manufacturing execution systems during the forecast period. The manufacturing execution system supports efficient analysis of large and complex datasets. As human identification of new molecules has been less cost-effective and slow, this system is considered as more efficient to predict effective prospects in drug discovery. Drug discovery with AI surpasses human capability and support in the identification of more therapies for the treatment of more diseases in a shorter timeframe.
Moreover, growing manufacturing activities in the emerging markets further projected to propel the market growth. Latin American economies have a large ground for improvement and development in automation technology. Latin American countries such as Brazil, Argentina, and Mexico are among the major exporter to the US due to lower labour cost and logistic cost. Additionally, the US regulations for Latin American countries are moderate as compared to Asian countries, which are providing better export opportunities to Latin American countries. As an instance, the Generalized System of Preference (GSP) program allowed India a duty-free export of goods worth $5.6 billion in 2018, which has been revoked by the US in June 2019.
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Global manufacturing execution system Market Segmentation
By Deployment Type
- Cloud-Based
- On-Premises
By Industry
- Automotive
- Aerospace & Defense
- Oil & Gas
- Chemical
- Food & Beverages
- Healthcare
- Others( Electronics, waste water management)
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