Model Based Enterprise Market

Global Model Based Enterprise Market Size (2024 to 2029)

The size of the global model-based enterprise market is expected to be USD 19.23 billion in 2024 and USD 50.23 billion by 2029, growing at a CAGR of 21.17% during the forecast period.

The model-based enterprise (MBE) can be defined as a strategy focused on clarifying the design using a 3D model-based definition during the manufacturing process. MBE includes all product and manufacturing information to improve product quality and reduce costs more effectively. This eliminates the conventional 2D model that was being prepared on paper. Model-Based Enterprise is an engineering strategy that aims to simplify the design intent during the manufacturing process using a 3D model-based definition that includes all product and process information associated with the product's manufacture. The main aim of MBE is to increase efficiency, deliver better products, and control expenses. One of the biggest advantages of this is that it replaces expensive and inefficient paper systems.

With the introduction of CAD years ago, 3D models have become the new industry standard for designing products, tools, and manufacturing processes. Most OEMs and many large vendors are now focusing on models, where 3D models are then created and used, but many companies and their value chains still rely heavily on 2D drawings for the main design. As the automotive industry shifts to the 3D environment, virtual product models allow them to promote reusability, improve design efficiency, improve quality, and reduce overall costs.

Global Model Based Enterprise Market Drivers:

The greater applicability of digital and virtual technology in manufacturing and designing products to obtain better results mainly drives the demand in the global model-based enterprise market. The rapid adoption rate of cloud platforms and the Internet of Things also drives the growth of this market. Automotive manufacturers worldwide increasingly embrace model-based design in developing vehicle electronics, from engine and transmission controllers to body controllers and battery management modules. Industry players use model-based design to prototype all electronic controllers, including software algorithm development and code self-generation, as well as product verification and design validation.

The automotive industry is undergoing rapid change with rapidly emerging technology and rapidly blurring the boundaries between stakeholders, rapidly transforming the industrial landscape. In addition, the industry's main challenges are the increasing demand for customized products, the rich experience, the increase in quality standards, and the reduction of operating costs.

Global Model Based Enterprise Market Restraints:

The transition time between the local and cloud platforms is prolonged, slowing the demand in this model-based enterprise market. Lack of knowledge and qualified persons about 3D technology and its applicability worldwide further impedes the global market expansion. Market players face a permanent challenge, mainly to stay competitive and stand out to stay ahead of competitors. Automakers currently can embrace technology and improve their business processes, which drives the business.

Impact of COVID-19 on the global model-based enterprise market:

The coronavirus pandemic negatively impacted the manufacturing industry in the first two years of the forecast period. Manufacturers are supposed to reconsider their spending strategies with moderate global demand and an interrupted supply chain.

REPORT COVERAGE:

This research report on the global model based enterprise market has been segmented and sub-segmented based on the offering, deployment type, industry and region.

Global Model Based Enterprise Market - By Offering:

• Solutions
• Services

Global Model Based Enterprise Market - By Deployment Type:

• On-Premises
• Cloud

Global Model Based Enterprise Market - By Industry:

• Aerospace & Defense
• Automotive
• Construction
• Retail
• Energy & Food
• Food & Beverage
• Life & Health Sciences
• Marine
• Oil & Gas
• Electronics
• Telecommunications
• Processes
• Public Services
• Others (Transport and Machinery And Heavy Equipment)

Global Model Based Enterprise Market - By Region:

• North America
  • The United States
  • Canada
  • Rest of North America
• Europe
  • The United Kingdom
  • Spain
  • Germany
  • Italy
  • France
  • Rest of Europe
• The Asia Pacific
  • India
  • Japan
  • China
  • Australia
  • Singapore
  • Malaysia
  • South Korea
  • New Zealand
  • Southeast Asia
• Latin America
  • Brazil
  • Argentina
  • Mexico
  • Rest of LATAM
• The Middle East and Africa
  • Saudi Arabia
  • UAE
  • Lebanon
  • Jordan
  • Cyprus

The North American region is expected to represent most of the overall model-based enterprise market, primarily due to major players such as GE, PTC, Autodesk, and Aras. These companies adopt various growth strategies to strengthen their position in the market. The United States recently launched the MBE program, which primarily aims to respond to manufacturers on how they can match product needs with process capabilities to regulate the best assets and ways to produce products. The Asia Pacific, with nations like India, Japan, Australia, etc., is also likely to offer numerous opportunities for developing this industry.

KEY MARKET PARTICIPANTS:

The major companies operating in the global model-based enterprise market include Siemens AG (Germany), General Electric (GE) (USA), PTC, Inc. (USA), Dassault Systèmes SE (France), Autodesk, Inc. (United States), SAP SE (Germany), HCL Technologies Ltd. (India), Oracle Corporation (United States), Aras Corporation (United States) and Anark Corporation (United States).

RECENT HAPPENINGS IN THE MARKET:

• In June 2018, Siemens AG and Process Systems Enterprise (PSE), a leading provider of advanced process modeling (APM) software and digital design and operations technologies and services, collaborated to integrate the technology APM gPROMS from PSE in the automation and digitization offerings provided by Siemens. Processing industries. This collaboration enables the two companies to provide advanced solutions for health monitoring, software detection, forecasting future performance, real-time optimization, and operative training incorporating high-fidelity models.
• In August 2018, Siemens acquired Mendix, Inc. (USA), a low-code software development platform enabling businesses to build their applications faster. With this acquisition, Siemens aims to improve its Digital Enterprise and MindSphere IoT portfolio, with expertise in cloud, cloud independent platform solutions and highly skilled professionals.
• In November 2019, Aras, one of the platform providers for digital industrial applications, announced that YKK AP, a manufacturer of a diverse line of architectural products, has selected the Aras platform to support sustainable business growth through variance management, code management, and project management.
• In November 2018, Anark Corporation, a provider of visual collaboration and enterprise technical content management (ECM) software, and: em engineering methods AG (: em AG), a provider of PLM technologies, announced: em AG as a strategic reseller, implementation, and backing partner for Anark products in Germany, Austria, and Switzerland, and Anark marketing agent for all of Europe.