25 February 2022
Visiongain has published a new report on Model Based Enterprise (MBE) Market Report 2022-2032: Forecasts by Offering (Solution, Software), by Deployment Type (Cloud, On-Premise), by Application (Aerospace & Defense, Automotive, Construction, Retail, Power & Energy, Food & Beverages, Oil & Gas, Heavy Machineries, Electronics, Others) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Recovery Scenarios.
Global Model Based Enterprise (MBE) Market was valued at US$ xx million in 2021 and is projected to reach at a market value of US$ xx million by 2031, growing at a CAGR of xx% during 2021-2032. Some of the major factors fuelling the growth of global market include wide applications of digital technologies and increasing penetration of model-based enterprise across different sectors.
COVID-19 Impact on Global Military cybersecurity Market
The global Model Based Enterprise (MBE) Market is highly impacted by COVID-19. The COVID-19 has both, positive and negative impacts on the market. The market has seen neutral impact due to limited infrastructure at the beginning of the lockdown phase however, in the late phase the demand for model-based enterprise solutions increased owing to the rise in increasing adoption of the model-based enterprise across different industries. The lockdown during the second or third wave of Covid-19 affected the economic activities in many countries and led to a decline in economic growth. It affected the functioning of the model-based enterprise (MBE) service providers. The vaccination programs in various countries played a major role in the containment of the virus and the resumption of economic activities.
Wide industrial applications of Model Based Enterprise
Model Based enterprise is widely used across different application industries such as automotive, aerospace & defense, power & energy, construction, retail, food and beverage, Oil & Gas, and others.
3D models in the automotive industry have set the new standard for designing the products, and manufacturing process. Such transitions to 3D models and designs have contributed towards the growth of the model-based enterprise. Also, most of the aerospace and defense operations are following model-based enterprise solutions to gain competitive advantage, exceptional customer outcomes and profits. Further, the use of MBD in the retail industry helps in the creation of more accurate designs and faster revisions of design drafts, such as those related to the color scheme of a pattern or the size of a garment offering more flexibility when updating or reworking on the design drafts.
Emerging Concepts Related to Digital Twin and Digital Thread Technologies
The digital twin and digital thread technologies are based on the concepts of the model-based enterprise. These technologies make use of digital manufacturing and design in its process. These new blended manufacturing technologies require more customer interaction and raise the value of the digital data that goes with the product during its life cycle. There has been much progress in manufacturing industry and enterprise business systems in the last few decades. Machines are getting smarter with embedded computers, AI, and application program interfaces (APIs) ready to exchange data with Manufacturing Execution System and cloud platforms. Such technologies offering real time representation of the product or the process and to deliver the right information to the right people is expected to contribute towards the growth of the model-based enterprise market.
The global Model Based Enterprise (MBE) Market is fragmented with several global and local players. Some of the companies profiled in the report include Cisco Systems Inc, Siemens AG, General Electric, PTC Inc, Autodesk Inc, Dassault Systemes SE, SAP SE, Oracle Corporation, International TechneGroup Inc, Anark Corporation, Infor, Aras Corporation, Accenture Plc, HCL Technologies, and Wipro Limited. The companies are focused on business strategies such as partnership with government authorities, product launches, R&D initiatives, and geographical expansion in order to gain competitive edge in global market. Some of the instances are stated below.
In August, 2021 Wipro Limited and DataRobot partnered for delivering scalable enterprise artificial intelligence solutions. In September 2021, HCL Technologies announced a five-year, digital transformation deal with MKS Instruments Inc, a global provider of instruments, systems, subsystems and solutions for advanced manufacturing processes, to improve performance, productivity and speed to market. In April 2021, Aras Corporation has announced a substantial growth investment from GI Partners, a leading private investment firm. This investment will further accelerate Aras’ low-code platform innovation, global expansion, and customer success. Aras’s systems architecture connects MBSE to full lifecycle digital thread.
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25 February 2022
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