In 2022, size of the global market for enterprise manufacturing intelligence was estimated to be US$ 4.0 billion. By 2032, it’s anticipated to exceed US$ 13.8 billion. The market is anticipated to rise at a 13.3% CAGR from 2022 to 2032.
Manufacturing intelligence solutions can monitor the entire production infrastructure with the use of data analytics. It helps users identify which equipment isn’t operating according to expectations. It also provides information on instruments that are not improving the overall productivity and effectiveness of the asset.
More than ever, companies must be able to see operations on the production floor from anywhere in the organization. The main goal is to make quicker, informed decisions.
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Difficulty in accessing such important operational metrics is one of the main elements pushing the industry forward. It is caused by scattered activity, complex supply networks, and data that is being gathered in various ways.
As industry 4.0 takes root in the industrial sector, numerous facilities are integrating digital technologies for modernizing, automating, and enhancing their whole operation. As they provide great benefits, the internet of things and other digital transformation technologies are being integrated more and more.
Numerous companies are using big data and GPS tracking to improve their supply networks. It gives businesses a competitive edge over rivals in addition to assisting in data-driven planning to handle supply, demand, and logistical difficulties. It also aids in their ability to remain competitive.
On the market’s growth, it is projected that introduction of big data would have a significant impact. The automobile, aerospace & military, as well as other industries, might use it extensively.
Businesses are able to find, examine, and correct issues & weaknesses in their manufacturing unit. By fusing big data with business manufacturing intelligence software, efficiency might be increased.
Producers can make adjustments or test out new design ideas by putting up specialized training with virtual and augmented reality during the production process. They are not required to physically hold a product in their hands.
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Key Takeaways from the Enterprise Manufacturing Intelligence Market
· The global enterprise manufacturing intelligence market witnessed a CAGR of 17.1% from 2017 to 2021.
· North America enterprise manufacturing intelligence market size stood at a valuation of US$ 1.3 billion in 2021.
· The USA enterprise manufacturing intelligence market size is expected to be worth US$ 4.4 billion by 2032.
· The United Kingdom enterprise manufacturing intelligence market is likely to exceed US$ 666.3 million by 2032.
· Japan enterprise manufacturing intelligence market is anticipated to reach US$ 1.0 billion by 2032.
“The automobile industry’s demand for industrial intelligence solutions would be boosted by rapidly growing use of robotics in the manufacturing process. Artificial intelligence and the advent of digitalization will also increase demand.” – Says a lead analyst.
Competitive Landscape: Enterprise Manufacturing Intelligence Market
Industry participants are making significant investments in research & development projects. To increase production, they want to introduce novel items. To strengthen their standing in the market, these businesses are also concentrating on new product introductions.
For instance,
· In September 2020, the newest enterprise intelligence campaign from Verizon Business was announced. The objective is to demonstrate how the most forward-thinking companies in the world are being transformed by 5G, 5G edge, and exclusive 5G infrastructure. The business will use actual cases of top businesses using Verizon’s applications in entertainment & sports, automotive, retail, manufacturing, and logistics.
Get More Exclusive Insights into Enterprise Manufacturing Intelligence Market Study
Future Market Insights (FMI), in its new offering, presents an unbiased analysis of the enterprise manufacturing intelligence market, presenting historical market data (2017 to 2021) and forecast statistics for the period of 2022 to 2032.
The study reveals extensive growth in the enterprise manufacturing intelligence market in terms of deployment type (embedded, standalone), offering (software, services), end-use industry (process industries, discrete industries), and region.
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Global Enterprise Manufacturing Intelligence Market Outlook by Category
By Deployment Type:
- Embedded
- Standalone
By Offering:
- Software
- Services
By End-use Industry:
- Process Industry
- Chemical
- Energy & Power
- Food & Beverage
- Oil & Gas
- Pharmaceutical
- Others (Mining & Metals, Paper & Pulp)
- Discrete Industry
- Aerospace & Defense
- Automotive
- Medical Devices
- Semiconductors & Electronics
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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