The global model based manufacturing technologies market is projected to grow notably at an 8.4% CAGR from 2023 to 2033, according to a recent study concluded by Future Market Insights. The industry is expected to be valued at USD 46.4 billion in 2023 and USD 104.3 billion by 2033.
The availability of broad-ranging applications of digital technologies used in the development and production procedures, as well as the rapidly changing capabilities of the software implemented, are some of the primary variables expected to drive the market’s expansion.
As end-users focus on integrating automatic technology and instruments to improve efficiency while lowering operational costs, the development of sophisticated software and tools is assisting a wide range of production functions. The development of viable model-based manufacturing techniques has prompted industries such as manufacturing to begin incorporating them into their operations, resulting in faster, more accurate, and less expensive production.
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The global Model Based Manufacturing Technologies market is also projected to grow as a consequence of an upsurge in business model transformation, encouraged primarily by a rise in the implementation of cutting-edge telecommunications solutions such as 5G.
As per a report by Swedish telecom equipment manufacturer Ericsson, 5G subscriptions in India were projected to reach 500 million by the year 2022, making up 39% of mobile subscribers. Moreover, the growing percentage of shipments of 5 G-permitted cell phones, which is expected to reach nearly 70 percent by the end of 2023, will contribute to market expansion throughout the coming years.
Key Takeaways from the Market Study
- In 2023, the global market for model-based manufacturing technologies is expected to be worth USD 46.4 billion.
- By 2033, the market is expected to be worth USD 104.3 billion.
- Between 2018 and 2022, the market for model-based manufacturing technologies grew at a 6.3% CAGR.
- According to the study, the United States will account for more than 19.1% of the global market by 2022.
- Over the forecast period, the Chinese market is expected to grow at an 8.9% CAGR.
“Model-based manufacturing has emerged as a popular technology in developed countries such as Germany, the United States, and the United Kingdom. In general, the global market for model-based manufacturing technologies is expected to expand in the coming years.” says FMI analyst.
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Competitive Landscape
The market demonstrates a fragmented rivalries landscape, with major brands focusing on forming alliances and working together with local and regional manufacturers and distributors to broaden their international reach.
- Siemens Digital Industries Software launched the current edition of its industry-leading NX software, which is an element of the Xcelerator portfolio of services and applications, in February 2022. The new NX Topology Optimizer supports in development of parts solely based on operational and architectural requirements, leading to entirely configurable convergent bodies that would make it very difficult to create and construct manually.
- Bentley Motors, a division of Volkswagen Group, revealed in February 2022 that it would double the additive manufacturing (AM) capacity at its plant in Crewe, England, which is liable for the building of all Bentley models.
- Ford launched CAD files in February 2022, permitting consumers to 3D print models of their Maverick gathering truck components.
Leading Key Players:
- Oracle Corporation
- SAP SE
- Dassault Systèmes
- Honeywell International, Inc.
- Siemens Digital Industries Software
- Rockwell Automation, Inc.
- PTC
- Autodesk, Inc.
- Aspen Technology, Inc.
- iBASEt Inc.
- Schneider Electric
- ABB
- General Electric
- Sepasoft, Inc.
- Hexagon AB
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the model based manufacturing technologies market presenting a historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033.
The study reveals essential insights on the basis by Deployment Type (Cloud, On-premises), Enterprise Size (Small and Medium Enterprises (SMEs), Large Enterprises), Industry (Automotive, Electronics and Semiconductors, Aerospace and Defense) & Region (North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America)
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Model Based Manufacturing Technologies Market Segmentation:
By Solution:
- Software
- Manufacturing Execution Systems (MES) Software
- Material Requirements Planning (MRP) Software
- Product Lifecycle Management (PLM) Software
- CAD/CAM Software
- Manufacturing ERP Software
- Others
- Services
- Professional Services
- System Integration & Implementation
- Security Consulting
- Support & Maintenance
- Managed Services
By Deployment:
- Cloud
- On-premises
By Enterprise Size:
- Small and Medium Enterprises (SMEs)
- Large Enterprises
By Industry:
- Automotive
- Electronics and Semiconductors
- Aerospace and Defense
- Oil & Gas
- Healthcare & Pharmaceuticals
- Food & Beverages
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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