Enterprise Manufacturing Intelligence Market to Hit USD 11.21 Billion by 2030 due to Industry 4.0 Adoption and Demand for Operational Efficiency | By SNS Insider
According to SNS Insider’s research, the enterprise manufacturing intelligence market is on a growth trajectory driven by the transformative forces of Industry 4.0, the pursuit of operational excellence, quality control, predictive maintenance, data analytics, supply chain optimization, scalability, and cost savings.
Pune, Nov. 01, 2023 (GLOBE NEWSWIRE) — The SNS Insider report indicates that in 2022, “The Enterprise Manufacturing Intelligence Market had a valuation of USD 4.1 billion, and it is projected to expand to USD 11.21 billion by 2030, with a compound annual growth rate (CAGR) of 13.3% expected over the forecast period from 2023 to 2030.
Enterprise Manufacturing Intelligence, often referred to as EMI, is a comprehensive software and data analysis system designed to provide real-time visibility into all aspects of a manufacturing process. It facilitates the collection, integration, and analysis of data from various sources within a manufacturing environment. EMI enables organizations to make informed, data-driven decisions by transforming raw data into actionable insights, allowing manufacturers to optimize production, monitor equipment performance, and enhance overall productivity.
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Manufacturers are constantly seeking ways to enhance operational efficiency and reduce production costs. EMI systems offer real-time monitoring and analysis, enabling businesses to identify bottlenecks, improve resource utilization, and streamline production processes. The drive for cost reduction and operational excellence is a compelling factor fueling the enterprise manufacturing intelligence market. Downtime due to equipment failure can be a significant cost for manufacturers. EMI solutions can predict when machinery or equipment is likely to fail, allowing proactive maintenance to avoid unexpected disruptions. The ability to implement predictive maintenance strategies is a critical factor in the growth of EMI. The manufacturing sector is generating vast amounts of data. EMI systems are equipped with advanced analytics and reporting capabilities, providing valuable insights that can inform strategic decisions. Manufacturers are increasingly recognizing the importance of data-driven decision-making, further propelling the EMI market.
Enterprise Manufacturing Intelligence Market Overview & Scope:
|Market Size in 2022||USD 4.1 billion|
|Market Size by 2030||USD 11.21 billion|
|CAGR||CAGR of 13.3% over 2023-2030|
|Key Segments||By Deployment Type (Embedded, Standalone)
By Offering (Software, Services)
By End-use Industry (Process Industry, Discrete Industry)
|Key Market Players||Schneider Electric SE, Honeywell International Inc., Rockwell Automation Inc., Siemens AG,General Electric Co., Aspen Technology Inc., Dassault Systems SA, Emerson, Electric Co., SAP SE, Yokogawa Electric Corporation and other players|
|20% free customization scope (equivalent to 50 analyst working hours)||If you need specific information as per your business requirement, which is not currently within the scope of the report, we will provide it to you as a part of customization.|
|Pricing & Purchase Options||Avail customized purchase options to meet your exact research needs. Explore purchase options.|
Key Takeaway from Enterprise Manufacturing Intelligence Market Study
- The embedded segment has emerged as a dominant force, reshaping the industry’s dynamics. Embedded EMI empowers manufacturers with real-time data, enabling them to make immediate decisions to enhance efficiency, reduce downtime, and optimize production processes.
- The process industry’s dominance in the enterprise manufacturing intelligence market can be attributed to its heavy reliance on cutting-edge technologies such as IoT (Internet of Things), machine learning, and big data analytics. These technologies enable real-time data collection, analysis, and reporting, offering a competitive advantage in optimizing complex manufacturing processes.
- Windstream Enterprise, a prominent player in the field of telecommunications and network solutions, has unveiled a significant development in its service offerings. The company has introduced LAN services featuring Fortinet technology, a strategic move aimed at enhancing security and performance for its clients.
- HCL Technologies, a leading global technology services company, has announced its collaboration with Snowflake, a cloud data platform specialist, to introduce an innovative AI-based BI solution tailored for enterprises. This strategic partnership between HCL Technologies and Snowflake reflects the growing importance of data-driven decision-making in the business world.
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Market Dynamics Analysis
The dynamics of enterprise manufacturing intelligence market are shaped by a multitude of factors, including drivers, restraints, challenges, and threats. The primary driver propelling the growth of EMI is the relentless pursuit of operational excellence in manufacturing industries, fueled by the escalating demand for high-quality products. EMI systems enable real-time data analysis, thereby enhancing process optimization and reducing wastage, which is crucial in cost-sensitive markets. Additionally, the advent of Industry 4.0 and the Internet of Things (IoT) has accelerated EMI adoption, as it aligns seamlessly with the need for connected, intelligent manufacturing processes. However, this market is not without its restraints and challenges. Integration complexities with existing legacy systems, as well as the initial cost of implementation, can act as barriers. Moreover, concerns related to data security and privacy in an interconnected ecosystem are a growing challenge. Furthermore, the threat of cyberattacks on EMI systems poses a significant risk, potentially disrupting operations and compromising sensitive information. In conclusion, the market dynamics are a delicate interplay of drivers pushing for operational excellence, restraints involving implementation hurdles, challenges related to data security, and the looming threat of cyberattacks, making it a sector that demands a nuanced approach to harness its full potential.
Key Regional Developments
North America, spearheaded by the United States, has emerged as a leader for the enterprise manufacturing intelligence market. The region’s manufacturing sector is characterized by a high degree of automation and Industry 4.0 adoption. This has led to a strong demand for EMI solutions that enhance data-driven decision-making. Europe has been at the forefront of Industry 4.0 adoption, focusing on the integration of digital technologies into manufacturing processes. The European manufacturing landscape is diverse, encompassing traditional manufacturing sectors, such as automotive and machinery, as well as emerging industries like renewable energy. The Asia-Pacific region, with countries like China and India, is experiencing rapid industrial growth. The manufacturing sector in this region is characterized by its scale and diversity. As companies in this region strive for increased efficiency, reduced waste, and product quality improvement, EMI adoption is on the rise.
Impact of Recession
During economic downturns, companies tend to delay or reevaluate their technology adoption strategies. EMI solutions, while offering significant benefits in the long term, may be deprioritized in favor of more immediate cost-cutting measures. This can hinder the growth prospects of the enterprise manufacturing intelligence market. On a positive note, economic downturns can also drive innovation. EMI solution providers may need to adapt their offerings to align with changing market needs and budgets, potentially leading to the development of more cost-effective and flexible solutions.
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Table of Content
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 Impact of Russia-Ukraine war
4.2 Impact of Ongoing Recession
4.2.2 Impact on major economies
188.8.131.52 United Kingdom
184.108.40.206 South Korea
220.127.116.11 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Enterprise Manufacturing Intelligence Market Segmentation, By Deployment Type
9. Enterprise Manufacturing Intelligence Market Segmentation, By Offering
10. Enterprise Manufacturing Intelligence Market Segmentation, By End-use Industry
10.1 Process Industry
10.1.2 Energy & Power
10.1.3 Food & Beverage
10.1.4 Oil & Gas
10.1.6 Others (Mining & Metals, Paper & Pulp)
10.2 Discrete Industry
10.2.1 Aerospace & Defense
10.2.3 Medical Devices
10.2.4 Semiconductors & Electronics
11. Regional Analysis
11.2 North America
11.3.1 Eastern Europe
18.104.22.168 Rest of Eastern Europe
11.3.2 Western Europe
22.214.171.124 Rest of Western Europe
11.4.8 South Korea
11.4.12 Rest of Asia-Pacific
11.5 Middle East & Africa
11.5.1 Middle East
126.96.36.199 Saudi Arabia
188.8.131.52 Rest of Middle East
184.108.40.206 South Africa
220.127.116.11 Rest of Africa
11.6 Latin America
11.6.8 Rest of Latin America
12.1 Honeywell International Inc.
12.1.1 Company Overview
12.1.3 Products/ Services Offered
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Rockwell Automation Inc.
12.3 Schneider Electric SE
12.4 Siemens AG
12.4.1 Company Overview
12.5 Aspen Technology Inc.
12.6 Dassault Systems SA
12.7 Emerson Electric Co.
12.8 General Electric Co.
12.9 SAP SE
12.10 Yokogawa Electric Corporation
13. Competitive Landscape
13.1 Competitive Bench marking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. Use Case and Best Practices
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