The latest report by IMARC, titled “Enterprise Manufacturing Intelligence Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, finds that the global enterprise manufacturing intelligence market size reached US$ 3.0 Billion in 2022. Enterprise manufacturing intelligence (EMI) refers to a software-based approach to collect, analyze, and present data from various manufacturing operations within an organization to offer actionable insights and facilitate informed decision-making. EMI systems integrate data from various sources, including plant floor systems, enterprise resource planning (ERP) systems, and customer relationship management (CRM) systems. EMI enables manufacturers to gain a holistic understanding of their operations and identify opportunities for improvement by collecting data from disparate sources and presenting it in a single, unified view. These systems typically employ data visualization tools, such as dashboards and scorecards, to present data in a user-friendly format, which allows managers and operators to rapidly identify trends, anomalies, and areas of inefficiency. In recent years, enterprise manufacturing intelligence is gaining momentum as it is a valuable tool for manufacturers to improve efficiency, reduce costs, and increase profitability by leveraging data from across their organization.
Global Enterprise Manufacturing Intelligence Market Trends:
One of the primary factors driving the market is the increasing demand for procedure optimization. EMI systems offer real-time visibility into manufacturing operations, allowing producers to identify areas of inefficiency and make data-driven decisions to enhance overall productivity, thus creating a positive market outlook. Additionally, the growing adoption of Industry 4.0 technologies, such as the Internet of Things (IoT), is positively influencing the market growth. Other than this, the increasing demand for data-driven decision-making on account of the growing availability of data is propelling the market growth. Besides this, the growing focus on quality control is boosting the demand for the product as they identify areas of the production procedure where quality control can be improved. EMI systems can be used to monitor and optimize a wide range of manufacturing procedures, such as production scheduling, inventory management, quality control, and maintenance. This enables manufacturers to identify and address issues before they impact production or quality by offering real-time visibility into these procedures. Along with this, favorable government regulations in numerous regions are creating lucrative growth opportunities for the key players operating in the industry. Looking forward, IMARC Group expects the market value to reach US$ 6.5 Billion by 2028, expanding at a CAGR of 14.25% during the forecast period (2023-2028).
- On the basis of the offering, the market has been bifurcated into software and services.
- Based on the deployment type, the market has been divided into embedded and standalone.
- On the basis of the application, the market has been segregated into data integration, data management and analytics, and real-time visualization.
- Based on the end use industry, the market has been categorized into 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, and others.
- Region-wise, the market has been classified into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being 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.
|Base Year of the Analysis
||Offering, Deployment Type, Application, End Use Industry, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||ABB Ltd., Aspen Technology Inc., Dassault Systèmes 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
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