DUBLIN, July 4, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Manufacturing Execution Systems Market in Process Industries 2016-2020" report to their offering.
The global manufacturing execution systems (MES) market in process industries to grow at a CAGR of 16.86% during the period 2016-2020.
Global Manufacturing Execution Systems (MES) Market in Process Industries 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, we consider the revenue generated from sales and aftermarket services of MES in process industries.
A key trend boosting market growth is the fact that process industries are moving towards cloud-based MES deployments. Cloud-based MES-as-a-service is likely to be the next logical step in the evolution of automation technology in process industries. End-users are becoming more comfortable with the concept of service-based technology architecture such as cloud. End-user industries can significantly reduce costs, achieve greater flexibility, and enhance functionality by shifting toward cloud-based environment. SMEs operating in process industries face budget constraints and cuts, which make it difficult for them to afford the initial investment for an MES.
According to the report, a key growth driver is the shift towards paperless production. The emergence of information technology in manufacturing processes has significantly helped process-oriented companies to improve their operations, leading to sustainable development. The MES market is experiencing continuous demand from manufacturing companies owing to the shift in their preference for lean manufacturing. Among all the highlighted benefits of MES, reduction in cost in terms of wastage, rework, and defects is highly prominent. The overall manufacturing system becomes highly efficient when MES is integrated with Warehouse Management System (WMS), facilitating lean manufacturing to a large extent.
Further, the report states that one challenge that could hamper market growth is the need for high capital investment. MES require high capital expenditure for installation and regular upgrades, integration, and support. The growing demand for product quality and reduction of operational expenditure require large investments to integrate MES into existing systems, which are less compatible, and takes a long time to execute. Many SMEs worldwide are facing difficulties in investing in this technology, owing to the high capital investment required to integrate and build it.
- Emerson Electric
- Rockwell Automation
- Schneider Electric
Other prominent vendors
- Dassault Systèmes
- Honeywell International
- HCL Technologies
- Parsec Automation
- WERUM IT Solutions
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SOURCE Research and Markets