The Standalone Application Compiler must be run on a system that has MATLAB installed and the appropriate MATLAB Compiler licenses (and whatever toolboxes are used for the code being compiled.)
Furthermore the compiler must be run on the same class of operating system as its target -- though you might possibly be able to compile for MS Windows 32 bits on an MS Windows 64 bit system. But you cannot compile for Linux on an MS Windows system, for example.
But that is the compiler part. Once the application is built, the application can be installed on another system that meets the hardware / software requirements for the version of MATLAB that was used to compile (except perhaps 32 bit targets might be permitted.)