GLOBAL AI IN MANUFACTURING EXECUTION SYSTEM MARKET (2023 - 2030)
As per our research report, the global AI in manufacturing execution system Market size is estimated to be growing at a CAGR of 10.8% from 2023 to 2030.
In response to modern security threats, manufacturers are focusing on augmenting MES capabilities through the use of state-of-the-art technologies, such as artificial intelligence (AI), to swiftly assess vast volumes of data. AI enables speedy mathematical calculations to enhance human intelligence's vital capabilities and promptly detect threats such as anomalies, outliers, and trends in a workforce with lower skill levels. MES service providers have incorporated artificial intelligence (AI) into their existing solutions to enhance their analytical and incident response capacities. The growing expectations of end users regarding user behaviour and threat detection capabilities, together with the integration of current MES with state-of-the-art analytical technologies, are driving the growth of the manufacturing execution system market. Real-time manufacturing execution solutions are being used by manufacturers more and more. Companies are adopting manufacturing execution system (MES) solutions at a rapid pace due to their realisation of the necessity of preserving production competency to stay competitive in the marketplace. Manufacturers are using real-time manufacturing operations management (MOM) and manufacturing execution systems (MES) in tandem to monitor and manage their operations to handle this complexity.
The COVID-19 pandemic in 2020 brought up several difficulties and negatively impacted world economies. The global market for manufacturing execution system (MES) solutions shrank as a result of the lockdowns that caused some production sectors to temporarily shut down. According to UNIDO's World Manufacturing Production Statistics, manufacturing output decreased by 11.2% in the second quarter of 2020 (April to June) compared to the same time in 2019. The market for manufacturing execution systems was negatively impacted by the COVID-19 epidemic since MES solutions are closely associated with production activities. When lockdown restrictions were lifted and industrial businesses were allowed to recommence operations with improved supply networks, the adoption of MES advanced.
Market expansion is fueled by the manufacturing sector's increasing use of technology and automation. The entire industrial and manufacturing environment is evolving into one that is networked, intelligent, and smart in today's business situations. The rise of new types of process manufacturing involving sensors, smart machines, and linked things has changed the ecosystem of how people, machines, data, and technology interact and collaborate. One of the main features of the contemporary digital factories that enable smart manufacturing is the gathering, organising, analysing, and extraction of business values from data and information. The growing acceptance of Industry 4.0 has even more emphasised the need for an advanced MES.
Secondly, to greatly boost the intelligence of a MES/MOM system, artificial intelligence (AI) integration involves integrating user-defined rules and algorithms with user-defined parameters into the system. By doing this, producers may fully utilise the capabilities of computers, analysing vast volumes of data quickly in real-time and making regular decisions without requiring human intervention. By using an MES in conjunction with a real-time MOM system to automate the tracking, planning, and scheduling of manufacturing operations, many operational benefits can be realised. These benefits include: giving manufacturers real-time visibility into the status of production, inventory, and customer orders; preventing operational errors; getting rid of unnecessary overhead labour costs; automatically gathering material traceability data; and boosting sales by offering dependable semi-custom pro
Market expansion may be constrained by expenses related to maintenance, upgrades, and other significant capital expenditures. Consulting, acquisition, adjustment, installation, and operation costs are all included in the investment cost of AI in MES, and they all increase a company's expenses. Since the adoption of MES varies by industry, capital investments in MES are also significant because they cover a number of system-related services. The costs of MES, which mostly consist of deployment and running charges, will increase a company's expenses. A unique integration may incur additional fees in addition to the high cost of MES. Furthermore, many small businesses are unable to replace or improve their present MES due to the exorbitant costs. Therefore, one significant factor that may prevent the growth of the MES market is its cost.
The industry is seeing a notable trend with the increasing focus on explainable AI (XAI) in factory execution systems. Stakeholders will need to be able to comprehend and evaluate AI-driven judgements as AI becomes more integrated into MES procedures. In order to ensure that manufacturers can trust and understand the results of AI algorithms, explainable AI offers transparency in the decision-making process. This trend promotes trust and confidence in the use of AI in MES across a variety of production contexts in addition to complying with regulatory standards.
KEY MARKET INSIGHTS:
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