Future Market Insights has announced the addition of the “Enterprise Manufacturing Intelligence Market: Global Industry Analysis and Opportunity Assessment, 2016-2026"report to their offering
Valley Cottage, NY -- (SBWIRE) -- 08/22/2018 -- Enterprise Manufacturing Intelligence is a software that is used for bringing an organization's manufacturing related data together from multiple sources for the purpose of reporting, analyzing and passing data between enterprise level and plant floor systems. The goal of any Enterprise Manufacturing Intelligence is to extract real knowledge from large chunks of manufacturing data which in turn will give positive business results. The advantage of it is that as the data is gathered from multiple sources, new context can be derived from it which can help the user in finding out what they really need.
The various properties that an EMI software should possess are:
Aggregation of data from multiple sources
Providing a data structure model that will enable users to search for information easily
Enable users to analyze data, especially across production sites
Providing a visual summary of data, probably in a dashboard format
Propagation of data between plant-floor and enterprise level systems
Enterprise Manufacturing Intelligence software usually follow ISA95, Enterprise-Control System Integration Standard. It is an international standard which has been developed for global manufacturers which is applicable for all industries, across all their processes. ISA95 provides a consistent terminology for supplier and manufacturer communication, consistent operational and information models which lays a foundation for how information has to be made use of.
Also, the emergence of big data analytics will play a major role in the development of this market as it can be extensively made use in aerospace, defense, oil and gas and automotive sectors. The integration of big data analytics with enterprise manufacturing intelligence software can help enterprises to identify, analyze and mitigate issues and faults in manufacturing unit which will lead to increase in productivity and efficient data sharing between business units.
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Enterprise Manufacturing Intelligence Market: Drivers and Challenges
Before the emergence of Enterprise Manufacturing Intelligence software, plant manufacturing data was recorded using paper-based methods which was a tedious job. Also, each production unit or plant used to function as an independent silo due to which executives didn't have a clear picture of shop-floor level information which in turn wasn't very fruitful for taking any strategic level decision. These factors led to the emergence of EMI software which was a one stop solution to all the above problems.
The Enterprise Manufacturing Intelligence market is expected to grow in the coming years. It will be driven largely due to need for operational excellence and to enhance collaboration across verticals in an enterprise. Also, with the integration of big data analytics with EMI software and use of cloud-based software will help drive the market in coming years. Also, it is observed that EMI software has a good return on investment and faster time to value which is driving discrete industry to adopt this software.
A few challenges faced by companies adopting Enterprise Manufacturing Intelligence software are they need to keep a check on increasing the productivity without additional capital investments and they need to continually enhance their program to generate expected results. There are certain strategy level challenges because each industry has its own set of applications and supply chain, hence the solution needs to be designed based on specific needs of the business.
Enterprise Manufacturing Intelligence Market: Segmentation
Segmentation On The Basis Of End User:
Process Industry: Industry where primary production processes are either continuous or occur in a batch such as food, beverage, food packaging, pharmaceutical and chemicals
Discrete Industry: Industry where manufacturing of finished products are distinct items such as automobiles, furniture, smartphones and aerospace
Currently discrete industry accounts for major market share of EMI market. Due to price pressure the discrete manufacturing industry has to find ways to reduce scrap work and improve utilization of their assets without degrading the quality of products. Hence enterprise manufacturing intelligence software are beneficial to them as it provides a holistic view of production processes and the managers can also monitor it in real-time.
Key Market Players
The major players active in the Enterprise Manufacturing Intelligence are ABB Ltd., Aegis Limited, Oracle Corporation, Parsec Automation Corporation, SAP SE, Epicor Software Corporation, General Electric Company, HP, Scheinder Electric SE, QISOFT, Rockwell Automation and Siemens AG.
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