Model Based Manufacturing Technologies Market Comprehensive Analysis and Regional Forecast 2031 In

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Model Based Manufacturing Technologies
Market Comprehensive Analysis and Regional Forecast 2031

In recent years, the manufacturing industry has witnessed sluggish growth owing
to various macro-economic factors such as Brexit concerns, fluctuations of oil
prices, and foreign trade policies. Tech developments in model-based offerings
are expected to play a key role in the future of the sector. According to a
recent report by Future Market Insights (FMI), the global model-based
manufacturing technologies market is estimated to register a CAGR of
over 8% during the forecast period of 2021-2031.

Performance requirement among manufacturers from new tool
and equipment designs for higher efficiency is increasing. This has encouraged
industrial manufacturers to focus on developing technology platforms and new
operating models that enable connected products and services for integration to
their customer operations.

This trend of technological development is expected to
support growth of the market. Moreover, rapid technological advancements in the
automobile industry, have resulted in an increase in demand for model-based
manufacturing technologies to improve economic competitiveness.

Key Takeaways: Model Based Manufacturing Technologies
Market

The
cloud deployment segment will reflect relatively faster growth with a CAGR
of 8.7%, owing to the benefits of remote access.

Large
enterprises are estimated to contribute over 59% of the overall market.
However, small and medium enterprises (SMEs) are likely to reflect a
strong CAGR of above 8%.

Among
end-use industries, the automotive segment is anticipated to hold the
dominant share of 23.8% in 2021, backed by the rise of IoT connectivity
opportunities.

The
U.S. is projected to account for over 81% of North America owing to
adoption of next-gen emerging technologies.

The
market in India is expected to progress at a noteworthy CAGR of more than
13% through 2031, driven by an expanding automotive sector.

The
U.K. market is expected to rise at a CAGR of close to 10% over the coming
decade, with impetus from research and development programs.

COVID-19 Impact Analysis on Model Based Manufacturing
Technologies Market

The covid-19 pandemic has adversely affected the global
manufacturing industry. This disruption has brought attention to some of the
leading challenges faced by the industry and have also highlighted the need to
speed up production to boost supply chain resilience. In addition, the economic
uncertainties have resulted in pressure on manufacturers to bring down costs
while increasing overall efficiency.

Model based manufacturing technologies are likely to create
a safer working environment by using automated manufacturing assets which use
intelligent decision-making algorithms and networked sensors. Model-based
manufacturing technologies facilitate goods and service operations, mitigating
the severity of industrial chain disruption. Hence, the model-based
manufacturing technologies market is estimated to grow at 6% to 7% Y-o-Y from
2019 to 2021.

Who is Winning?

Leading manufacturers in the moderately consolidated
model-based manufacturing technologies market are focused on product and
services development endeavors, while also pushing for geographical expansion
strategies to leverage previously untapped markets in emerging economies.

Leading players in the market include but are not limited to
Aspen Technology Inc., Oracle Corp., SAP SE, Honeywell International Inc.,
Ibaset Inc., Autodesk Inc., PTC, Inc., Siemens PLM Software Inc., Rockwell
Automation, Inc., Dassault Systemes, Schneider Electric SE, ABB Ltd., Seabrook
Technology Group, Vero Software Ltd. Sogeti High Tech SAS, KPIT Technologies
Limited, General Electric Company, Statii Ltd., CNC Software, Inc., and Cimatron
Technologies, Inc

Model Based Manufacturing Technologies Market by Category

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