FMI’s New Report, titled, “Model Based Manufacturing Technologies Market: Global Industry Analysis and Opportunity Assessment 2016-2026” offers 10-year forecast and analysis.
Valley Cottage, NY -- (SBWIRE) -- 07/05/2016 -- Development of advanced software and tools is supporting a wide range of functions in manufacturing, as end-users focus on incorporating automated tools and technology to improve productivity and reduce operational costs. Development of effective model-based manufacturing technologies has prompted the manufacturing sector to incorporate it in their operations, resulting into rapid, accurate, and affordable production.
Growing popularity of simulation-modelling in manufacturing industry is boosting awareness on the benefits of model-based manufacturing. Usage of solid models in manufacturing procedures has also witnessed an increase in the recent times. Companies want resolutions that allow them to quickly program their parts directly from these solids using the original native CAD data. Feature recognition, reliable data import, and solid based machining are also becoming a necessity.
Model-based manufacturing allows for greater control over predicting the performance of products and processes. As manufacturing units increase their emphasis on being agile and developing products with higher accuracy, adoption of model-based technology is further expected to grow. The industry-wide trend of incorporating latest technologies will also promote the adoption of model-based manufacturing, as organisations today are more flexible and open to try new software and tools.
Model-Based Manufacturing Technologies Market:Drivers & Restraints
Development in various end-use industries is fuelling investment in model-based manufacturing technologies as it helps minimise production losses and facilitate fast processes. Model-based technologies can be used to reduce the cost of development of different products and to enable additional capabilities benefiting the entire process of manufacturing and engineering. The principals for model-based manufacturing technologies lie at the development of advanced methodologies and tools for developing software that are needed to build systems, machinery and products at an acceptable cost while preserving safety and correctness.
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The industry-wide trend to implement smart manufacturing is driving the producers/manufacturers to invest in model-based manufacturing technologies (MbM). Applications of model-based manufacturing technology in high-end operations is also driving the growth of the market. The additional benefits such cost reduction, high quality production, continuous optimisation of production processes, and rising efficiency and output are other key factors driving the growth of the market.
While production using model-based manufacturing is cost-effective in the long run, the initial cost of adopting this technology is a major constraint for its widespread adoption. It's expected that as this technology matures, it will become more accessible to users.
Model Based Manufacturing Technologies MarketSegmentation
By software type, the global model-based manufacturing technologies market is segmented as follows:
MES Based (Manufacturing Execution Software) Systems
ERP Based (Enterprise Resource Planning) Systems
MRPBased (Material Requirements Planning) Systems
CAD Based (Computer Aided Design) & PLM Based (Product Lifecycle Management) Systems
Other MbM Softwares (Combined Systems/Technologies)
By end user market, the model-based manufacturing technologies market is segmented as follows:
Electronics and Semiconductors
Aerospace & Defence
Oil and Gas
Others (Other Industrial Sectors)
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Model Based Manufacturing Technologies Market: Region-wise Outlook
The global model-based manufacturing technologies market is projected to register a favourable growth during the forecast period, 2016?2026. North America is projected to maintain its dominance in the global model-based manufacturing technologies market. Expanding manufacturing capacity is expected to increase model-based manufacturing technology adoption in emerging economies of Asia Pacific, resulting into the overall growth of the global market. Growth of the model-based technologies market in Asia Pacific will be driven by South Korea, China, and India.
Model Based Manufacturing Technologies Market: Key Players
Some of the key market participants in global model-based manufacturing technologies market are Oracle, SAP, AspenTech, iBASEt, Autodesk, PTC, Siemens, Proplanner, and Dassault Systemes S.A.