DUBLIN, November 16, 2021– (BUSINESS WIRE) – The report “Manufacturing Execution Systems Market – Growth, Trends, COVID-19 Impact, and Forecast (2021 – 2026)” has been added to ResearchAndMarkets.com offer.
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) .
Key market trends
The pharmaceutical and life sciences industry will hold a significant share
With the ever-changing trends in the pharmaceutical industry, manufacturers are under increasing 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 significantly improve compliance with regulatory requirements.
MES has been successfully implemented in the pharmaceutical and life sciences industry since the Food and Drug Administration (FDA) issued final regulations 21 Part 11 on March 21, 1997. These provided criteria for FDA acceptance, under certain circumstances, of signatures, electronic records and handwritten signatures performed on electronic records equivalent to paper records and handwritten signatures performed on paper.
Additionally, growing concern about counterfeit drugs entering the supply chain has led to the adoption of global tracking and traceability regulations to protect patient safety and ensure product integrity. The European Falsified Medicines 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 resources to manage the additional administrative burden. The use of barcodes and serialization numbers, as well as the incorporation of RFID labels inside packaging equipment, are all measures taken to improve the quality of traceability and tracking.
North America will hold a significant
North America is expected to continue to hold the significant MES market share during the forecast period mainly due to the presence of several prominent MES vendors such as Honeywell (US) and Oracle Corporation (US) ), Emerson (US) US) and Rockwell Automation (US) among others that drive innovation. There is therefore an intense competition between the players.
In addition, North America’s solid financial position allows it to invest heavily in advanced solutions and technologies that have given it a competitive advantage in the market. In addition, the region is considering several partnerships of market players, which helps them to combine their solutions and offerings to increase their presence in the market.
One of the potential opportunities for the market is the ongoing expansions and investments towards digitization in industries in the region. The growth in the number of SMEs and the increasing digitization of manufacturing functions by large organizations, such as IBM and General Electric, are contributing to the growth of the IoT market in the regional manufacturing segment. SMEs are becoming increasingly flexible to integrate new technologies into their existing systems, while large manufacturers have significant budgets for digitization. This enables the adoption of the EMS.
Main topics covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market overview
4.2 Market drivers
4.2.1 Adopting digitization to improve production
4.2.2 Introduction of Cloud Technology to Consolidate Information
4.3 Market restrictions
4.3.1 High investment and operating costs involved in implementing and upgrading manufacturing execution systems for small-scale production
4.3.2 Lack of awareness of the benefits of MES solutions among SMEs
4.4 Industry Attractiveness – Porter’s Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By offering
5.2 By deployment
5.2.1 On site
5.3 By End User Industry
5.3.1 Food and drink
5.3.2 Oil and gas
5.3.3 Pharmaceuticals and life sciences
5.3.5 Electronics and semiconductor
5.3.6 Other end-user industries
5.4.1 North America
5.4.4 Rest of the world
6 COMPETITIVE LANDSCAPE
6.1 Company profiles
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information on this report, visit https://www.researchandmarkets.com/r/f5oi89
See the source version on businesswire.com: https://www.businesswire.com/news/home/20211116006152/en/
Laura Wood, Senior Press Director
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