The service category in the manufacturing execution system market is expected to be the fastest-growing segment during the forecast period
The service category is projected to grow the fastest during the forecast period. The primary element propelling the expansion of the segment market is the increasing significance of the global post-implementation procedure of several industrial execution systems. Other factors anticipated to drive the growth and demand for the services segment over the forecast period include improved efficiency, decreased waste, and shorter output times in the manufacturing process of various applications, including food & beverages, pharmaceuticals, and consumer packaged goods.
Pharmaceuticals & life sciences category of the manufacturing execution system market to record the highest CAGR from 2022 to 2028
Pharmaceuticals & life sciences category is expected to account for the highest CAGR of the manufacturing execution system market from 2022 to 2028. The expanding prevalence of constantly shifting market dynamics and the rising necessity for manufacturers to adapt their manufacturing processes to meet growing consumer needs are key factors projected to promote segment growth at a healthy growth rate over the coming years. Increased manufacturers' efforts to comply with the EU Falsified Medicine Directive and other international legislation through adopting cutting-edge technology and expanding resources for managing administrative load are also projected to contribute considerably to the segment's growth.
Asia Pacific is anticipated to grow at a significant rate in manufacturing execution system market share from 2022 to 2028
Asia Pacific is the fastest-growing region in the manufacturing execution system market due to growing technological investments in the production of industrial tools and machinery, the growth and expansion of the semiconductor sector, and rising demand from the chemical and automotive industries. Due to their growing investments in R&D activities, China and India are the two nations in the Asia Pacific region developing the fastest. Additionally, the market is expected to increase significantly over the next several years due to increasing industry knowledge of execution systems for manufacturing processes. Furthermore, China is making significant investments in using AI in the pharmaceutical industry, accelerating the market expansion rate. Another factor driving the market's expansion is the rise in manufacturing facilities across various industries, including those that depend heavily on manufacturing execution systems, such as the automotive, textile, power, and pharmaceutical industries.
Market Key Players:
Key players in the manufacturing execution system market include ABB LTD, Tebis Technische Informations syteme AG, Werum IT Solutions Gmbh, Dassault Systems, Rockwell Automation Inc., Honeywell International Inc., Emerson Electric CO., General Electric Company, Siemens AG, Andea Solutions, Oracle Group, Siemens AG and Samsung Group of Companies.