The Global Model Based Enterprise Market size is expected to reach $34.5 billion by 2031, rising at a market growth of 14.5% CAGR during the forecast period.
The food and beverages industry is characterized by continuous product innovation and development to meet changing consumer preferences, dietary trends, and regulatory requirements. MBE solutions enable food and beverage companies to design, simulate, and optimize new products in a digital environment before they are produced. Consequently, the food & beverages segment would acquire nearly, 7% of the total market share by 2031. MBEs reduces time-to-market, minimizes product development costs, and enhances the competitiveness of food and beverage companies in the market.
Digital transformation involves integrating digital technology into all business areas, fundamentally changing how the company operates and delivers value to customers. Moreover, digital transformation often involves adopting emerging technologies such as cloud computing, artificial intelligence, and the Internet of Things (IoT). Hence, increasing digital transformation initiatives are driving the market’s growth. Additionally, modern 3D modeling technologies offer more sophisticated and realistic representations of products and processes. Also, 3D modeling tools enable stakeholders across different departments and functions to collaborate more effectively by providing a platform for visualizing and interacting with digital models. In conclusion, increasing 3D modeling and simulation technology advancements propel the market’s growth.
However, Implementing MBE often requires investment in specialized software tools for 3D modeling, simulation, data management, and collaboration. Moreover, while the initial purchase of MBE software is a significant investment, ongoing licensing and subscription fees can pose a challenge for organizations, especially those operating on tight budgets. Thus, high initial investment costs are hampering the market’s growth.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
The food and beverages industry is characterized by continuous product innovation and development to meet changing consumer preferences, dietary trends, and regulatory requirements. MBE solutions enable food and beverage companies to design, simulate, and optimize new products in a digital environment before they are produced. Consequently, the food & beverages segment would acquire nearly, 7% of the total market share by 2031. MBEs reduces time-to-market, minimizes product development costs, and enhances the competitiveness of food and beverage companies in the market.
Digital transformation involves integrating digital technology into all business areas, fundamentally changing how the company operates and delivers value to customers. Moreover, digital transformation often involves adopting emerging technologies such as cloud computing, artificial intelligence, and the Internet of Things (IoT). Hence, increasing digital transformation initiatives are driving the market’s growth. Additionally, modern 3D modeling technologies offer more sophisticated and realistic representations of products and processes. Also, 3D modeling tools enable stakeholders across different departments and functions to collaborate more effectively by providing a platform for visualizing and interacting with digital models. In conclusion, increasing 3D modeling and simulation technology advancements propel the market’s growth.
However, Implementing MBE often requires investment in specialized software tools for 3D modeling, simulation, data management, and collaboration. Moreover, while the initial purchase of MBE software is a significant investment, ongoing licensing and subscription fees can pose a challenge for organizations, especially those operating on tight budgets. Thus, high initial investment costs are hampering the market’s growth.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
By Offering Analysis
Based on offering, the market is divided into solution and services. The services segment attained a 36% revenue share in the market in 2023. Implementing MBE solutions involves significant technical expertise and organizational change management. Many companies lack the internal resources and expertise to implement MBE solutions effectively. As a result, they turn to service providers with specialized knowledge and experience in MBE implementation to assist them in deploying, customizing, and integrating MBE solutions into their existing workflows.By Deployment Mode Analysis
On the basis of deployment mode, the market is segmented into cloud and on-premise. The cloud segment recorded a 37.55% revenue share in the market in 2023. Cloud-based MBE solutions offer scalability and flexibility, allowing organizations to scale their infrastructure up or down based on demand. This scalability is particularly beneficial for organizations with fluctuating workloads or seasonal variations in business activity. Cloud-based MBE solutions enable organizations to easily add or remove resources as needed without large upfront investments in hardware or infrastructure.
By Vertical Analysis
By vertical, the market is divided into aerospace, electronics & telecommunications, construction, healthcare & lifesciences, food & beverages, marine, oil & gas, automotive, and others. The automotive segment procured a 17% revenue share in the market in 2023. The automotive industry is characterized by intense competition and rapidly changing consumer preferences, driving the need for shorter product development cycles. MBE solutions enable automotive companies to accelerate product development by facilitating collaboration, simulation, and optimization of vehicle designs. Growing automotive sector is increasing the demand for the MBE solution.By Regional Analysis
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region witnessed a 37% revenue share in the market in 2023. North America is home to some of the most advanced manufacturing industries, including aerospace, automotive, electronics, and defense. These industries have embraced digital transformation and are early adopters of MBE solutions to improve efficiency, quality, and innovation in their operations.List of Key Companies Profiled
- Siemens AG
- PTC, Inc.
- Dassault Systemes SE
- SAP SE
- HCL Technologies Ltd. (HCL Enterprises)
- Oracle Corporation
- Wipro Limited
- ANSYS, Inc.
- General Electric Company
- Cisco Systems, Inc.
Market Report Segmentation
By Offering- Solution
- Services
- On-premise
- Cloud
- Aerospace
- Electronics & Telecommunications
- Construction
- Healthcare & Lifesciences
- Food & Beverages
- Marine
- Oil & Gas
- Automotive
- Others
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis- Global
Chapter 5. Global Model Based Enterprise Market by Offering
Chapter 6. Global Model Based Enterprise Market by Deployment Mode
Chapter 7. Global Model Based Enterprise Market by Vertical
Chapter 8. Global Model Based Enterprise Market by Region
Chapter 9. Company Profiles
Companies Mentioned
- Siemens AG
- PTC, Inc.
- Dassault Systemes SE
- SAP SE
- HCL Technologies Ltd. (HCL Enterprises)
- Oracle Corporation
- Wipro Limited
- ANSYS, Inc.
- General Electric Company
- Cisco Systems, Inc.
Methodology
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