NEW YORK, Nov. 22, 2016 /PRNewswire/ -- "Manufacturing execution system market to exhibit significant growth potential between 2016 and 2022"The Manufacturing execution system (MES) market is expected to grow at a CAGR of 13.6% between 2016 and 2022 to reach USD 18.22 billion by 2022. The key driving factors for the growth of the manufacturing execution system market are low deployment cost, increasing use of industrial automation, adoption of MES owing to growing benefits and importance of regulatory compliance. However, low adoption of MES in small-and medium-size companies and high investment and cost for implementation and upgradation of MES are the major restraining factors for the growth of this market. "Market for services expected to grow at the highest rate during forecast period"The services market is expected to grow at the highest rate between 2016 and 2022. The services such as opportunity assessment, solution migration and enhancement, product evaluation, MES application configuration, business analysis, selection services, customization, and multi-level support services support the company to overcome the problems and boost the growth in the market. "On-premises market expected to hold the largest size of the manufacturing execution system market"The on-premises market is expected to hold the largest size of the manufacturing execution system in 2016. It offers hosted services to a limited number of people within a firewall and hence minimizing security concerns. It also enables users to have a direct control over their data. "Automotive to account for the largest market share in the overall manufacturing execution system market"The automotive industry expected to account for the largest market share of the discrete industry of global manufacturing execution system market in 2016. The increase in the production of number vehicles each year and increasing need of automation in automotive manufacturing to lower production cost and increase productivity are some factors expected to drive the demand for manufacturing execution systems in the automotive industry. Functions such as inventory management, performance analysis, design process, and supply chain management, which are time consuming when carried out manually, have been automated with the help of MES. "APAC to grow at the highest rate for manufacturing execution system market during the forecast period"The market for manufacturing execution system in the APAC region is expected to grow at the highest rate between 2016 and 2022. The demand for MES systems is very high in Asia-Pacific owing to the need to implement the change from manual or legacy systems to automated systems, rapid industrialization, and economic growth. The growing automotive manufacturing in the countries such as China and Japan are expected to drive the growth of the manufacturing execution system market in APAC.