MES market to be worth US$12.6B by 2020
September 4, 2015 by Manufacturing AUTOMATION
Sep. 4, 2015 – According to a recent market research report by MarketsandMarkets, the manufacturing execution system (MES) market is estimated to reach US$12.6 billion by 2020, at a CAGR of 10.85 per cent between 2015 and 2020.
A MES helps manage and automate the manufacturing processes on a production floor with the help of real-time data intelligence, all towards the goal of improving productivity.
MES is implemented in various process industry and discrete industry. The market segmented on the basis of process industry includes oil and gas, chemicals, food and beverages, pulp and paper, lifesciences, power, water and wastewater management, and others. The food and beverages process industry is expected to grow at a high CAGR of 14.35 per cent between 2015 and 2020, according to the report, while the discrete industry application includes automotive, medical device, aerospace and defence, and others. The automotive discrete industry holds the major share of the MES market, it notes.
The report, Manufacturing Execution System Market by Deployment Type, Process Industry (Chemicals, Food & Beverages, Life Science, Oil & Gas, Power), Discrete Industry (Aerospace & Defense, Automotive, Medical Devices) and by Region – Global Forecast to 2020, includes a brief description of the factors driving and restraining the growth of the market as well as its opportunities and challenges. The factors driving the market include the growing impact of Cloud-based MES, growing demand for paperless operations, growing emphasis of real-time data analysis, and regulatory compliance. The high investment incurred by the adoption of MES and longer run update required in MES software is expected to add additional cost are the factor restraining the growth of the manufacturing execution system market. The acceptance from operator before MES implementation presents a major challenge for the market.