Global Model Based Enterprise Market size was valued at US$ 9.94 Bn in 2019 and is expected to reach US$ 51.07 Bn by 2027 to exhibit a CAGR of 22.7 % during the forecast period.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global model based enterprise market dynamics, structure by identifying and analyzing the market segments and project the global market size.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Further, the report also focuses on the competitive analysis of key players by type, price, financial position, type portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global model based enterprise market.
model-based enterprise (MBE) is a term used in manufacturing, to define a strategy where an explained digital three-dimensional (3D) model of a product helps as the authoritative information source for all activities in that product’s lifecycle. A main advantage of MBE is that it substitutes 2D drawings. Important benefits offer by MBE for manufacturers contain cheap time to market and savings in production costs from better tool design and fabrication and so on.
Several applications of digital technologies in design and manufacturing, developing software capabilities, and increasing adoption of IoT and cloud-based platforms are the key factors that boost the growth of the market. However the key challenges to the growth of the global model based enterprise market are lack of awareness regarding newer technologies and less assured safety while using MBE on the online platform.
The rising scenarios of digitization in the aerospace & defense industry and the emergent concept of digital twin and digital thread technologies are the key opportunities in the model based enterprise market. However, the slow transition from the on-premise to the cloud-based platform is the main limiting factor for the global model based enterprise market growth.
Aerospace & defense industry is projected to dominate the global model based enterprise market in the coming years owing to the investing aggressively in emerging new technology solutions. This solutions is to expect and react to changing customer necessities. To accomplish these requirements aerospace and defense companies adopt digital business models to fast-track product growth, expand revenue generation, drive efficiency, and increase supply chain performance by managing the entire product lifecycle. MBE offers real-time design and analysis, cooperative process flow development, automated artifact creation, and full-process traceability to project participants. Therefore, these factors drive the growth of the aerospace & defense industry in the model-based enterprise market.
According to the study of the global model based enterprise market, North America hold the largest market share currently and is anticipated to continue in the forecast period. North America is the initial adopters of MBE and also most of the huge MBE supplying companies are present in this region contributing to the progress of the market. Also, various industries are adopting MBE solutions and services at numerous product development stages for, upsurge productivity, and expand their manufacturing processes. Additionally, the amplified R&D activities in the field of IoT and IIoT and increased demand for capable and cost-effective technologies for product manufacturing are the aspects pouring the market growth in this region.
Scope of the Global Model Based Enterprise Market
Global Model Based Enterprise Market, by Deployment Type
Global Model Based Enterprise Market, by Offering
Global Model Based Enterprise Market, by Industry
• Power & Energy
• Aerospace and Defense
• Food & Beverages
• Others (Retail, Oil & Gas, Electronics and Telecommunications, Process and Utility, Marine)
Global Model Based Enterprise Market, by Region
• North America
• Middle East & Africa
• South America
Key Players operating in the Global Model Based Enterprise Market
• General Electric
• Dassault Systèmes
• HCL Technologies
• Cisco Systems
• International Technegroup
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