Future Market Insights has announced the addition of the “Model Based Manufacturing Technologies Market: Global Industry Analysis and Opportunity Assessment, 2017-2027"report to their offering
Valley Cottage, NY -- (SBWIRE) -- 03/25/2019 -- What is the competition trend in the global model based manufacturing technologies market?
Among the key players profiled in our report, global partnerships is one of the key strategies adopted by market players, with approximately 50% of the leading players entering into collaborations in the last three years. This trend is projected to continue over the next five years. Most of the model based manufacturing technologies providers are entering into strategic partnerships to improve their product offerings. One such player is Autodesk, which has entered into a partnership with Vera Security, Inc., a data-centric security solutions provider and PTC, which is a Computer-aided design (CAD) solutions provider with an objective to provide data protection for CAD and product lifecycle management (PLM) and to control access and permissions for CAD files. Another key strategy followed by top market players is new product launch with about 25% of the leading players having launched new products in the past three years. Companies such as SAP SE, Dassault Systemes, Ibaset Inc. and Aspen Technology Inc. are heavily adopting the new product launch strategy.
MEA regional market for model based manufacturing technologies is expected to witness significant growth owing to increasing plant productivity and reduced inventory costs
Software-as-a-Service (SaaS) ERP systems are expected to drive the growth of the model based manufacturing technologies market in the Middle East. Companies in this region are more focussed on the adoption of SaaS ERP systems. SaaS vendors are investing significantly in SaaS ERP systems to succeed and grow in this highly competitive and lucrative market and are also making strategic investments and implementing stringent security infrastructure in order to safeguard customer data. They also provide SaaS contracts to ensure a high level of transparency so that customers own their data and can retrieve it on demand.
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Increasing plant productivity and reduced inventory costs is another factor which is fuelling the growth of the model based manufacturing technologies market in MEA. Due to advancement in technologies, manufacturing companies are installing new software and tools for optimum resource utilisation. An increasing variety in product development is likely to eventually lead to increase in production capacity, which will ultimately lead to lack of quality in products. To overcome this inherent quality challenge, automatic manufacturing equipment and technologies help in the production process by reducing inventory costs as the inventory will be tracked using automated information technology systems. This will subsequently lead to decreasing capital costs due to decreased inventory levels and optimal use of production resources.
Mobile device explosion is anticipated to drive Enterprise Resource Planning growth in the MEA region. Increasing usage of smart mobile devices such as smartphones and tablets in the Middle East countries is expected to offer opportunities to Enterprise Resource Planning (ERP) vendors looking to tap the market in this region. The staff working in logistics, warehouse management, manufacturing and field sales depends primarily on mobile ERP apps. ERP apps are enabled on workers' devices in all departments that facilitate easy access to data and enable the initiation of ERP processes from anywhere. Companies are looking to ERP vendors to deliver assurances surrounding application and data security integration and management in smartphones/tablet PCs.
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MEA is the second largest region in term of CAGR in the global model based manufacturing technologies market during the period of assessment
Although MEA is projected to grab a tiny share of the global model based manufacturing technologies market in 2017, it is the second largest region in terms of CAGR. The MEA model based manufacturing technologies market is expected to expand at a CAGR of 11.7%. In 2017, the market in MEA is estimated to be valued at more than US$ 1,300 Mn and is expected to witness steady growth in terms of revenue throughout the forecast period.