Modern Manufacturing Execution System – Insights
The introduction of modern manufacturing execution systems has been one of the most notable in the industrial sector. The main purpose of this technology is to make the manufacturing process easy & convenient for the manufacturers. Lately, the demand for such an automated system has increased dramatically. This in turn, drives the growth of the global modern manufacturing execution system.
At its heart, manufacturing execution system (MES) is a control system. It is employed to look after all the manufacturing activities that take place in the factory. It offers the manufacturers with a standardized & organized workflow that can ensure highest possible production quality & regulation compliance. This way, the manufacturers can heave a sigh of relief as they everything is working just fine on the factory front.
One of the special features of MES is that it can keep the sensitive production data safe. It closes the channeling of information through data management. This system is measurable. It offers standard working guidelines for various industries such as consumer packaged goods, automotive industries & pharmaceutical. With its help vendors can also quality check the end-product. On the whole, the MES is a boon for the industrial sector.
Key Players & Strategies
Some of the big names in this industry can be listed as Yokogawa, ABB Ltd., Tata Technology & SAP SE. These brands use partnerships & heavy investment in R&D as their major strategies.
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The global modern manufacturing execution system holds great future potential thanks to the rapid industrialization. During the forecast period of 2018-2022, the market will grow at a moderate CAGR of 14.8%. Experts believe that the industry will register a great revenue collection by the end of the forecast period.
There are a number of factors that contribute to the growth of this market. One of the major ones include the higher demand for better production equipment & methods. Usage of MES can aid vendors to produce improved quality products in a much lesser time & also increase their profit margins. This fact drives the development of the market.
Another factor that propels the growth of the market is the higher demand for regulatory compliance. Industries like pharmaceutical, food & beverages have stringent regulatory requirements. Thus, the players of this market are looking for a system that can work according to the same. This demand further fosters the growth of the industry.
Switch to paperless operations from paper can be termed as an additional growth factor for this industry. The market may face one major hindrance which is the high cost of installation of an MES system. But experts believe that with time, the market will overcome this issue as well.
The worldwide Modern Manufacturing Execution System Market is divided four equal parts. These include, discrete, processes & geographies.
On account of discrete, the market is divided into electronics & ICT, automotive, FMCG, aerospace & defense & medical amongst others. The discrete industry portion is expected to develop at the CAGR of 17.6%.
On the basis of processes, the market is divided into food & beverages, pharmaceutical, oil & gas industry and energy & power.
Regionally, the market is split into various regions like North America, Asia Pacific, Europe & Rest of the World.
One of the most notable advancements that has been observed by the global modern manufacturing execution system is the introduction of Industry 4.0. This system is comprehensive in nature. It can execute, track, monitor & report operations on the plant floor in a matter of minutes. This technology is set to revolutionize the manufacturing industry for good.
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