In the current business settings, almost everything in the end-to-end industrial and manufacturing environment is becoming intelligent, smart, and connected. Today’s digital plant of smart manufacturing relies on collecting, sorting, and analyzing the data and information, and turning them into business values. The MES helps end users to gain sustainable competitive advantage, by enabling them with the ability to alter or change the production process w.r.t market change on a real-time. It also helps the user to develop proactive strategic planning of maintenance processes, which helps in reducing the downtime. Moreover, MES solution helps in reducing waste, overages, optimizes inventory, reduces manufacturing cycle time, improves customer service, and reduce setup cost.
Get Sample PDF Copy at https://www.theinsightpartners.com/sample/TIPRE00006449
Impact of COVID-19 Pandemic on Manufacturing Execution System Market
The ongoing COVID-19 pandemic continues to bring long term disruptions among several major process as well as discrete industries. However, among process industries the impact has been varying across different vertical such as impacting heavily on aviation, oil & gas, and numerous materials sectors attracting heavy reduction in their ongoing production volume. Whereas industries such as food & beverages, pharmaceuticals, power generation, and chemicals have noticed limited disruption during the pandemic across different economies. As a result, prevalence of nation-wide lockdown to minimize the transmission of virus has significantly disrupted the supply chain activities along with production volume across several manufacturers especially the small & medium enterprise owners. Moreover, the limited production activities along with disappearing demand for numerous control products and components contracted significantly during the 2020 resulting in stark decline in the market.
Geographically, North America held the largest share of the manufacturing execution system market in 2020, followed by Europe and Asia Pacific. Further, Asia Pacific is projected to witness the highest growth rate during the forecast period. The manufacturing execution system market is segmented into component, deployment, industry type, and geography. Based on component, the market is further bifurcated into software and services. The software segment is expected to represent a larger share of the overall market during the forecast period. Based on deployment, the market is further segmented into cloud and on-premise. In 2020, the cloud segment accounted for a substantial share in the manufacturing execution system market. Based on industry type, the market is segmented into process industry and discrete industry. The discrete industry is expected to represent the largest share of the overall market during the forecast period.
The manufacturing execution system (MES) plays an important role in synchronizing manufacturing operations, logistics, equipment automation, and sales and planning, among others. The ability of MES to synchronize various functions and to provide a holistic view to various key stakeholders helps end users to enhance their performance, compliance, and regulatory requirements across the organization. Various industries such as healthcare and pharmaceuticals manufacturers are facing unprecedented challenges in terms of expectations of product shorter time-to-market, and its increased regulatory complexity, among others. Thus, it needs innovative solutions to respond to these challenges in a timely and efficient manner. MES helps healthcare and pharmaceuticals manufacturers to achieve compliance with regulatory authorities, which includes GMP requirements and FDA mandates for electronic records and e-signatures. MES also enables manufacturers to document automated and manual procedures throughout the production process, which helps in improving the accuracy of batch records and compliance.
Strategic Insights
The players operating in the manufacturing execution system market focus on strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:
• In September 2020, iTAC Software AG released a new version of the manufacturing execution system (MES). The iTAC.MES.Suite 9.50 supports transparent and automated manufacturing. The next generation is all about flexibility and individuality.
• In July 2019, Werum IT announced its partnership with Blood Centers of America, for developing a “vein-to-vein” digital supply chain solution suite integrating manufacturing/Cell and Gene Therapy and enhance the scalability, standardization, and compliance by using Werum’s PAS-X MES.
Buy Complete Report at https://www.theinsightpartners.com/buy/TIPRE00006449
Media Contact
Company Name: The Insight Partners
Contact Person: Sameer Joshi
Email: Send Email
Phone: +1-646-491-9876
City: Pune
State: Maharashtra
Country: India
Website: https://www.theinsightpartners.com/reports/manufacturing-execution-system-market