Blockchain Press Releases
Manufacturing Execution System Market size worth $ 23.76 Billion, Globally, by 2030 at 8.82% CAGR: Verified Market Research®
The “Global Manufacturing Execution System Market Size By Offering, By Deployment Type, By Process Industry, By Geographic Scope And Forecast” report has been published by Verified Market Research®. The report provides an in-depth analysis of the global Manufacturing Execution System Market, including its growth prospects, market trends, and market challenges.
JERSEY CITY, N.J., 25 July, 2023 /PRNewswire/ — The Global Manufacturing Execution System Market is projected to grow at a CAGR of 8.82% from 2023 to 2030, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 11.10 Billion in 2022 and is expected to reach USD 23.76 Billion by the end of the forecast period.
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Browse in-depth TOC on “Manufacturing Execution System Market“
202 – Pages
126 – Tables
37 – Figures
Manufacturing Execution System Market: Promising Growth Driven by Strong Market Drivers and Key Players
The global Manufacturing Execution System (MES) market is a rapidly growing sector that offers IT-enabled solutions to optimize and enhance the manufacturing process for production floor engineers and managers. By connecting complex manufacturing systems to monitors on the factory floor, MES aims to ensure the effective execution of manufacturing operations and improve production output.
Factors Driving Market Growth:
The manufacturing execution system market is experiencing robust growth, primarily driven by the following factors:
- Increasing Industrial Automation: The expanding usage of industrial automation in process industries is propelling the adoption of MES solutions.
- Cost-Effective Deployment: The availability of cost-effective deployment options is encouraging industries to implement MES systems.
- Demands from Key Industries: The power, food, beverage, and water and wastewater treatment industries have significantly contributed to the rising demand for MES solutions.
- Real-time Data Monitoring: The requirement to monitor real-time data has become crucial for operational efficiency, boosting the MES market.
- Improved Data Visibility: The need for enhanced data visibility and management of off-site development operations has spurred the adoption of MES systems.
Market Challenges:
Despite the promising growth prospects, certain challenges are hindering the expansion of the manufacturing execution system market, including:
- Limited Awareness Among SMEs: Small and medium-sized enterprises (SMEs) lack awareness of the advantages of MES systems, which is slowing down the market’s overall growth.
- High Operating and Investment Expenses: The deployment and update of industrial execution systems for small-scale production involve high operating and investment costs, leading to slow development during the forecast period.
- Difficult Installation: Complex installation processes are impeding the adoption of MES solutions in some industries.
Growth Opportunities:
The manufacturing execution system market presents several growth opportunities driven by technological advancements and integration with other products. Key growth opportunities include:
- Integration with ERP and PLM: Seamless integration with Enterprise Resource Planning (ERP) and Product Lifecycle Management (PLM) systems enhances the effectiveness of MES solutions.
- Boosting Energy Efficiency: Expanding capabilities of MES in improving energy efficiency and promoting sustainable production practices are attracting industries towards adopting MES systems.
- Potential Application in Pharmaceuticals and Life Sciences: The pharmaceutical and life sciences industries offer significant application prospects for MES solutions
Regional Analysis:
Asia-Pacific (APAC) holds the largest market share in the global manufacturing execution system market, with China as a major contributor to the region’s growth. Key factors influencing the market in the APAC region include:
- Rising Number of Manufacturing Units: China’s increasing number of manufacturing plants in various sectors, such as automotive, textiles, power, and pharmaceuticals, is driving the demand for MES solutions.
- Government Initiatives: Strong governmental initiatives supporting industrial automation are positively impacting the MES market in the region.
- Ongoing Projects: The presence of ongoing projects further fuels the adoption of MES systems in the APAC region.
Key Players
The “Global Manufacturing Execution System Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as ABB Ltd., Honeywell International, Inc., Rockwell Automation, Inc., Schneider Electric SE, Siemens AG, Dassault Systèmes, Emerson Electric Co., General Electric Company, SAP Se and Andea Solutions.
The global manufacturing execution system market is witnessing rapid expansion, driven by the growing usage of industrial automation and cost-effective deployment options. While challenges such as limited awareness among SMEs and high operating costs exist, the market presents favorable opportunities for growth through technological advancements, integration with other products, and application in key industries. The Asia-Pacific region, particularly China, stands as a prominent market player, with government support and ongoing projects contributing to its significant market share. As industries continue to prioritize operational efficiency and data visibility, the demand for MES solutions is expected to increase on a global scale.
To get market data, market insights, financial statements and a comprehensive analysis of the Global Manufacturing Execution System Market, please Contact Verified Market Research®.
Based on the research, Verified Market Research® has segmented the global Manufacturing Execution System Market into Offering, Deployment Type, Process Industry, And Geography.
- Manufacturing Execution System Market, by Offering
- Software
- Services
- Manufacturing Execution System Market, by Deployment Type
- On-Premise Deployment Type
- On-Demand Deployment Type
- Hybrid
- Manufacturing Execution System Market, by Process Industry
- Food & Beverages
- Oil & Gas
- Chemicals
- Pulp & Paper
- Pharmaceutical & Life Sciences
- Energy & Power
- Water & Wastewater Management
- Others
- Manufacturing Execution System Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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ABU DHABI, UAE, May 10, 2024 /PRNewswire/ — Venom, an innovative layer-0 and layer-1 blockchain network capable of hosting projects at massive scale, has continued to expand its offerings, this time forming a strategic partnership with KuCoin Ventures, the investment arm of KuCoin, a leading global crypto exchange.
The partnership follows on the heels of Venom’s launch into mainnet and the listing of the VENOM token on KuCoin.
One of the most anticipated new blockchain projects, the Venom network, has continued to make inroads across the blockchain industry following its launch into mainnet earlier this year. Venom has drawn attention due to its unique capabilities as both a layer-0 and layer-1 blockchain. The network is powered by Mesh technology, which allows it to communicate seamlessly and at great speed with other, independent networks.
Built to be capable of hosting massive platforms and projects, specifically global payment systems and CBDCs, Venom has emerged as one of the most promising new networks, with capabilities that could revolutionize what is possible in global commerce.
Now, the network has put itself in a prime position to further expand and integrate with other blockchain projects by reaching an agreement with KuCoin, one of the industry’s largest exchanges. KuCoin is one of the top-ten cryptocurrency exchanges with a daily trading volume of well over $500 million.
The new partnership would involve Venom receiving investment support for its VENOM token, while also providing enhanced visibility for projects integrated with the Venom blockchain on KuCoin. KuCoin Ventures will also provide support and resources during and after Venom projects on-boarding process.
Reached for comment on the new partnership, Venom Foundation CEO Christopher Louis Tsu had this to say: “This new partnership with KuCoin Ventures, the investment arm of KuCoin exchange, which is one of the industry’s largest and most important exchanges, marks a new chapter for the Venom network. This will open a lot of new doors for Venom and set the stage for collaborative work that will redefine this industry and allow Venom to reach its full potential. We are all very eager to see this come to fruition and what lies ahead for both us and KuCoin Ventures.”
About Venom:
Venom is a cutting-edge layer-0 and layer-1 network, seamlessly communicating and integrating with other independent networks through its innovative Mesh technology. The Venom ecosystem is anchored by a masterchain, which manages the overall network state and consensus, while workchains — an unlimited number of autonomous chains — host user accounts, smart contracts, and decentralized applications. Mesh technology revolutionizes inter-chain communication, optimizing interactions without compromising speed or unparalleled scalability. With a robust technology stack that ensures rapid finality, comprehensive security, stability, and user-friendly interfaces, Venom is the ideal network for hosting CBDCs and other large-scale platforms. Learn more at https://venom.foundation/
About KuCoin:
Launched in September 2017, KuCoin is a leading global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community action reach, it offers over 800 digital assets and currently provides Spot trading, Margin trading, P2P Fiat trading, Futures trading, and Staking to its 30 million users in more than 200 countries and regions. In 2023, KuCoin was named one of the Best Crypto Exchanges by Forbes and recognized as a highly commended global exchange in Finder’s 2023 Global Cryptocurrency Trading Platform Awards.
Learn more at https://www.kucoin.com.
Contact for Venom foundation:
Email: [email protected]
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A new bill introduced in the U.S. House of Representatives, known as the Blockchain Integrity Act, seeks to address concerns surrounding the use of cryptocurrency mixers and tumblers. The proposed legislation aims to regulate these privacy-enhancing tools, which are often used to obscure the origins of cryptocurrency transactions.
The bill, if passed into law, would impose strict regulations on the operation of cryptocurrency mixers and tumblers within the United States. These tools, which allow users to mix their funds with those of other users to obfuscate the transaction trail, have raised concerns among law enforcement agencies and regulators due to their potential use in money laundering, terrorist financing, and other illicit activities.
Under the Blockchain Integrity Act, operators of cryptocurrency mixers and tumblers would be required to register with the Financial Crimes Enforcement Network (FinCEN) and comply with anti-money laundering (AML) and know-your-customer (KYC) regulations. Failure to register or comply with these requirements could result in significant penalties, including fines and imprisonment.
The proposed legislation also seeks to empower law enforcement agencies to investigate and prosecute individuals and entities that operate unregistered cryptocurrency mixers and tumblers. By enhancing regulatory oversight and enforcement capabilities, the bill aims to safeguard the integrity of the blockchain ecosystem and prevent the illicit use of cryptocurrencies.
However, critics argue that the Blockchain Integrity Act could stifle innovation in the cryptocurrency space and infringe on individuals’ privacy rights. They contend that while cryptocurrency mixers and tumblers can be used for illicit purposes, they also serve legitimate privacy-enhancing functions, such as protecting users’ financial privacy and security.
The introduction of the Blockchain Integrity Act reflects growing concerns among policymakers about the potential risks associated with cryptocurrencies and their use in illicit activities. As lawmakers continue to grapple with these issues, it remains to be seen how the regulatory landscape for cryptocurrencies will evolve in the United States and around the world.
Source: cointelegraph.com
The post Proposed US Blockchain Integrity Act would ban crypto mixers for 2 years appeared first on HIPTHER Alerts.
The government-owned KfW Bank, based in Germany, is delving further into its plans to issue digital bonds leveraging blockchain technology. This move underscores the institution’s commitment to exploring innovative financial solutions in the digital age.
The proposed digital bond issuance is poised to mark a significant milestone for KfW, as it seeks to embrace the transformative potential of blockchain technology. By tokenizing bonds on a blockchain platform, KfW aims to streamline the issuance process, enhance transparency, and optimize operational efficiency.
One of the key advantages of digital bonds lies in their potential to reduce the reliance on intermediaries and streamline the entire bond lifecycle. Through blockchain-based tokenization, KfW aims to automate various aspects of bond management, including interest payments and maturity settlements, thereby reducing the need for manual intervention and minimizing operational costs.
Moreover, digital bonds have the potential to enhance liquidity in the secondary market, allowing investors to trade bonds seamlessly on digital asset exchanges. This increased liquidity could attract a broader range of investors, thereby diversifying KfW’s investor base and potentially lowering borrowing costs.
In addition to the issuance of digital bonds, KfW is also exploring the integration of blockchain technology into other areas of its operations. By leveraging blockchain for various use cases, such as trade finance and supply chain management, KfW aims to unlock new efficiencies and drive greater transparency across its ecosystem.
Overall, KfW’s foray into blockchain-based digital bonds underscores its commitment to innovation and its recognition of the transformative potential of blockchain technology. As the institution continues to explore and implement blockchain solutions, it is poised to stay at the forefront of digital innovation in the financial sector.
Source: ledgerinsights.com
The post Government-owned KfW elaborates on blockchain digital bond plans appeared first on HIPTHER Alerts.
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