DUBLIN, Nov. 9, 2023 /PRNewswire/ — The “Enterprise Manufacturing Intelligence Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The global enterprise manufacturing intelligence (EMI) market has witnessed substantial growth, with the market size reaching US$ 3.0 Billion in 2022. Market analysts project further expansion, with expectations that the market will reach US$ 6.5 Billion by 2028, reflecting an impressive Compound Annual Growth Rate (CAGR) of 14.25% during the period from 2023 to 2028.
Enterprise Manufacturing Intelligence: Revolutionizing Manufacturing
Enterprise manufacturing intelligence (EMI) refers to software-based applications used to provide real-time information on manufacturing processes. These software solutions collect and present data related to production costs, capacity, resource availability, and quality to users.
EMI software is often integrated with performance, plant, and factory management systems, enabling data aggregation, contextualization, management, and visualization. This empowers businesses to optimize performance and maximize outputs. In contrast to traditional systems, modern cloud- and big data-based EMI solutions offer more accurate key performance indicators, process verification, and threshold analysis.
Key Drivers of EMI Market Growth
Several factors are contributing to the growth of the EMI market:
- Automation and Operational Excellence: The increasing automation of manufacturing processes and the growing need for operational excellence are driving the adoption of EMI systems across various industries. EMI is used in sectors such as food and beverage, oil and gas, and pharmaceuticals to monitor processes, reduce waste, analyze manufacturing issues, and integrate operational data with enterprise resource planning (ERP) applications.
- Automotive Industry Growth: The significant expansion of the automotive industry is a major growth driver. EMI systems are utilized to supervise assembly lines, address manufacturing challenges, and enhance traditional manufacturing processes.
- Technological Advancements: Integration of big data, artificial intelligence (AI), and Internet of Things (IoT)-based tools with EMI solutions is facilitating the identification, analysis, and mitigation of manufacturing issues. These advancements enable efficient data sharing between business units.
Key Market Segmentation
The report provides a detailed breakdown of the global enterprise manufacturing intelligence market:
Breakup by Offering:
- Software
- Services
Breakup by Deployment Type:
- Embedded
- Standalone
Breakup by Application:
- Data Integration
- Data Management and Analytics
- Real-Time Visualization
Breakup by End Use Industry:
- Automotive
- Energy and Power
- Consumer Packaged Goods
- Medical Products
- Aerospace and Defense
- Electronics and Semiconductors
- Pharmaceuticals and Biotech
- Oil and Gas
- Food and Beverages
- Chemical
- Others
Breakup by Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
Competitive Landscape
Key players in the enterprise manufacturing intelligence market include ABB Ltd., Aspen Technology Inc., Dassault Systemes SE, Epicor Software Corporation (KKR & Co. Inc.), Honeywell International Inc., Oracle Corporation, Parsec Automation Corp., Qisoft, Rockwell Automation Inc., SAP SE, and Schneider Electric SE. These companies are at the forefront of innovation in the industry.
Key Questions Answered in This Report
The report addresses essential questions about the global enterprise manufacturing intelligence market:
- How has the global enterprise manufacturing intelligence market performed, and what is its growth outlook?
- What impact has COVID-19 had on the global enterprise manufacturing intelligence market?
- Which regions are key markets for EMI solutions?
- What is the market breakup based on offering, deployment type, application, and end-use industry?
- What are the key driving factors and challenges in the industry?
- Who are the major players in the global enterprise manufacturing intelligence market?
- What is the competitive landscape and the degree of competition in the industry?
For more information about this report visit https://www.researchandmarkets.com/r/xfbass
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SOURCE Research and Markets
