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Model Based Enterprise Market Projected to reach $21.3 billion by 2023 | Key players include Siemens AG, General Electric, PTC, Inc. and Dassault Systèmes SE

02-04-2019 09:14 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: MarketsandMarkets™

MarketsandMarkets

MarketsandMarkets

According to the new market research report on "Model Based Enterprise Market by Offering (Solutions, Services), Deployment Type (On-Premise, Cloud), Industry (Aerospace & Defense, Automotive, Construction, Retail, Power & Energy, Food & Beverages) and Geography - Global Forecast to 2023", This market is expected to reach USD 21.3 billion by 2023 from USD 8.1 billion by 2018, at a CAGR of 21.17%. Wide-ranging applications of digital technologies in design and manufacturing, evolving software capabilities, and rising adoption of IoT and cloud-based platforms are a few key factors driving the growth of this market.

Browse 64 market data Tables and 49 Figures spread through 151 Pages and in-depth TOC on "Model Based Enterprise Market - Global Forecast to 2023"

View detailed Table of Content here -
https://www.marketsandmarkets.com/Market-Reports/model-based-enterprise-market-122038238.html

Model based enterprise market for services is expected to grow at faster rate during forecast period

The market for services is expected to grow at a higher rate than that of the solutions during the forecast period owing to high requirement of services for the effective working of any software solution deployed by end users. Moreover, services are necessary to increase the efficiency of the entire process in product manufacturing. Companies such as Dassault Systèmes, Autodesk, Siemens, and PTC are a few leading service providers in the model based enterprise market.

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Aerospace & defense industry expected to hold largest share of overall model based enterprise market during forecast period

Aerospace & defense is one of the major industries investing aggressively in developing new technology solutions to anticipate and respond to changing customer requirements. To meet these demands, aerospace and defense companies adopt digital business models to accelerate product development, improve revenue generation, drive efficiency, and improve supply chain performance by managing the entire product lifecycle. MBE provides real-time design and analysis, collaborative process flow development, automated artifact creation, and full-process traceability to project participants. Hence, this industry is expected to hold the largest share of the overall model based enterprise market during the forecast period.

North America to account for largest size of overall model based enterprise market in 2018

North America is expected to continue to hold the largest size of the MBE market during the forecast period. It is one of the early adopters of MBE as most of the large MBE providing companies contributing to the growth of the market are located in this region. The market is growing steadily and has the potential to grow further in the region as several companies and a variety of industries are adopting MBE solutions and services at various product development stages to sustain in the market, increase productivity, and improve their manufacturing processes. Moreover, the increased R&D activities in the field of IoT and IIoT and escalated demand for efficient and cost-effective technologies for product manufacturing are the factors driving the MBE market growth in this region.

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The report profiles the most promising players in the model based enterprise market. The competitive landscape of the market presents an interesting picture of strategies adopted by a large number of players. Siemens AG (Germany), General Electric (GE) (US), PTC, Inc. (US), Dassault Systèmes SE (France), Autodesk, Inc. (US), SAP SE (Germany), HCL Technologies Ltd. (India), Oracle Corporation (US), Aras Corporation (US), and Anark Corporation (US) are the key players in the said market.

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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