- November 18, 2020
- Category: Industrial Automation, Other Industry Reports
Global Enterprise Manufacturing Intelligence Market is valued approximately at USD 2.4 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 17.1% over the forecast period 2020-2027. The enterprise manufacturing intelligence (EMI) is a type of software used for assembling and presenting the manufacturing-associated data from numerous sources to deliver the decision-makers with information concerning the organization’s performance. Moreover, the software further allows the users to certainly find the information required by centralizing the manufacturing data, irrespective of the source, and can simply perform scrutiny on any manufacturing aspect, including production costs, quality, resources, capacity, among others. The rise in competitive scenario among manufacturers, growing need for improved operational efficiency, and surging integration of big data are the few factors responsible for the CAGR of the market during the forecast period. As per the New Vantage Partners, the number of firms investing more than USD 500 million annually in big data has grown from 12.7% in 2018 to 21.1% in 2019. While according to the Worldwide Semi-annual Big Data and Analytics Spending Guide released by IDC, the businesses are spending USD 187 billion on big data and analytics in 2019, which may create a high demand for enterprise manufacturing intelligence. Moreover, several manufacturing industries are turning their interest from traditional manufacturing approach to digitalized method thus, companies are increasingly deploying smart automation techniques. For instance, according to the International Data Corporation (IDC) in 2019, the Asia-pacific will lead the IoT spending in 2019 with around 35.7%, followed by the United States of America with 27.3% and is also expected the spending on IoT in Asia-pacific to reach around USD 398.6 billion by 2023. This in turn is expected to leverage the adoption of enterprise manufacturing intelligence systems and solution all over the world. However, the high implementation cost is one of the prime factors restraining the market growth over the forecast period of 2020-2027.
The regional analysis of the global Enterprise Manufacturing Intelligence market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the early adoption of cloud-based EMI, along with the wide presence of market vendors in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the robust growth of the manufacturing sector coupled with escalating demand for automation solutions in end-use industries across the developing nations, such as China and India, are the few factors creating a lucrative opportunity for the growth of the enterprise manufacturing intelligence market in the Asia-Pacific region.
Major market player included in this report are:
Honeywell International Inc.
Rockwell Automation Inc.
AVEVA Group PLC
Aspen Technology Inc.
Dassault Systemes SE
Emerson Electric Co.
General Electric Company
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Analytics and Analysis
Aerospace and Defense
Food and Beverage
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Enterprise Manufacturing Intelligence Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers