Enterprise Manufacturing Intelligence System Market value was $1,284.73 million in 2019 and is anticipated to see an upsurge during the forecast period. The main driving forces of the market are the challenge of global competition, growing consumer demands, evolving markets, and digitalization, and the motivating force behind the ever-increasing demand for operational excellence of the industries. This accelerates the demand for enterprise manufacturing intelligence (EMI) solutions among enterprises that adds momentum to the market growth of the EMI solutions.
Enterprise Manufacturing Intelligence System Market Report Coverage
The report: “Enterprise Manufacturing Intelligence System Market– Forecast (2020–2025)”, by IndustryARC covers an in-depth analysis of the following segments of the Enterprise Manufacturing Intelligence System Market.
By Offering — Software, Services (Implementation, Maintenance, Up-gradation, Training)
By Deployment — On-premise, cloud, on-demand
By Organization Size — Small, Medium, Large
By License Type — Perpetual, subscription
By Integration — Embedded, standalone
By Application — Data Integration, Data Contextualization, Analytics and Analysis, Visualization, AI and Machine Learning, Others
By End User– Pharmaceutical and Life Sciences, Medical, Chemical, FMCG
By Geography — North America (U.S, Canada, Mexico), South America(Brazil, Argentina and others), Europe(Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, SK, Aus and Others), and RoW (Middle east and Africa)
Key Takeaways
- North Americas held the prominent share of 16.68% of global EMI market in 2019 and is forecast to reach $9.18 billion by 2025 growing at a CAGR of 13.06% during 2020–2025 due to the presence of major players in this region.
- Cloud segment is predicted to witness the highest growth rate of around 15.92% during the forecast period 2020–2025 as Cloud based EMI can integrate with other applications, allowing easier monitoring.
- The main driving forces of the market are the challenge of global competition, growing consumer demands, evolving markets, and digitalization, and the motivating force behind the ever-increasing demand for operational excellence of the industries.
- One of the major hindrances of the EMI market is the lacking of training of personnel and execution in the organizations.
Enterprise Manufacturing Intelligence System Market Segment Analysis — By Deployment
The Enterprise Manufacturing Intelligence System Market is segmented into cloud, on-premise and on-demand by deployment. Cloud segment is predicted to witness the highest growth rate of around 15.92% during the forecast period 2020–2025. Cloud-based enterprise manufacturing intelligence has been gaining in popularity and adoption across various industries. EMI tools allow businesses to analyse KPIs, trends and other metrics via a variety of systems, with Amazon AWS, Microsoft Azure and Google Cloud leading the pack among cloud infrastructure providers. Often Cloud based EMI can integrate with other applications, allowing easier monitoring. This saves employee resources and reduces the need to copy and paste details from one document into another while ensure fast data and information transfer. As the adoption of the cloud based models deployment in enterprises is significantly rising, which is set to significantly contribute to the market growth rate. In June 2018, SAP announced new products to enable enterprises to become more intelligent, with expanded capabilities from advanced technologies such as conversational artificial intelligence and so on. This will drive adoption of cloud based software and solutions, including EMI and other intelligence software.
Enterprise Manufacturing Intelligence System Market Segment Analysis — End User Industry
Pharmaceutical and Life Sciences is the dominant end-user industry of Enterprise Manufacturing Intelligence System Market accounting for $534.06 million of the total market revenue in 2019. Enterprise Manufacturing Intelligence products enable easy and quick data gathering and better decision-making to uncover hidden business value in pharmaceutical. Producers in the pharmaceutical industry are facing persistent pressure to ease cycle-time and costs and upturn quality and yields all while responding to varying government regulations and increased universal competition. EMI solutions expand the traditional analytical tool set by uncovering previously indiscernible insights into the pharmaceutical processes’ inner operations. EMI solutions turn the production data into actionable intelligence for decision-making. Manufacturers of pharmaceutical products can make well-founded decisions that improve process stability and process efficiency, thus increasing product quality and productivity.
Enterprise Manufacturing Intelligence System Market Segment Analysis — By Geography
North America held the prominent share of 16.68% of global EMI market in 2019 and is forecast to reach $9.18 billion by 2025 growing at CAGR of 13.06% during 2020–2025. Enterprise Manufacturing Intelligence is experiencing a rapid pace of adoption across diverse industries such as medical, chemicals that are expected to fuel business growth in this region. Therefore, it is anticipated that the involvement of leading industry players in this area and rising government investments would fuel the market. Government investment in enterprise manufacturing intelligence software would lead to market resurgence within this region. The presence of major market players including Aspen Technology, Inc., Emerson Electric Co. (U.S.), General Electric Co. and adoption of advanced technologies is expected to leverage the market and further fuel market growth in North America. In 2019, Hexagon AB had set up its Canadian headquarters in Ontario. Set up of headquarters and expansion of global companies to various countries drive the market growth.
Enterprise Manufacturing Intelligence System Market Drivers
Growing demand for operational excellence:
The main driving forces of the market are the challenge of global competition, growing consumer demands, evolving markets, and digitalization, and the motivating force behind the ever-increasing demand for operational excellence of the industries. This accelerates the demand of enterprise manufacturing intelligence (EMI) solutions among enterprises that adds momentum to the market growth of the EMI solutions. In manufacturing sector, the deployment of intelligent systems provide the information from the sources such as manufacturing execution system, quality management system and so on, thereby contributing to the proper analytics and decision making resulting in operational excellence.
Rising Industrial IoT:
With IIoT, an industrial enterprise can obtain massive volumes of data effortlessly. In order to be useful to the organization, it should be possible to process these data effectively and to identify the data which are important for decision taking. Merging production data with the data of other systems is possible without building separate integrations or manual data collection. With a EMI or enterprise manufacturing Intelligence solution, data can be flexibly merged from different systems to create more in-depth analyses than before, automatically and efficiently. An EMI solution assembles data located in several systems in a common reporting tool. Through this tool, data can be automatically analyzed and displayed in a visual and easily interpretable form.
Enterprise Manufacturing Intelligence System Market Challenges
Lack of Training & Execution among organizations:
Organizations may often have well-articulated specifications, a clear EMI approach, and a strong tool solution but lack technological expertise such as planning, constructing, managing, and supporting EMI applications. This results in EMI systems working slowly, breaking regularly, producing unpredictable outcomes, and ultimately contributing to higher costs of utilizing the EMI solution. Organizations should more focus on helping to understand their resources why is a EMI solution needed and the benefits of a EMI Solution as well. Resources should be in line with the executives on the gains that they can get by the use of their newly adopted EMI Technology. Organizations should spend wisely on providing ongoing training so that users understand how to use the system.
Market Landscape
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Enterprise Manufacturing Intelligence System Market. Enterprise Manufacturing Intelligence System Market is expected to be dominated by major companies such as SAP SE, Microsoft Corp., Emerson Corp., Siemens AG, Honeywell, Hexagon AB, Rockwell, and ABB among others.
Acquisitions/Technology Launches/Partnerships
In 2019, Siemens had launched Siemens Opcenter software, a unified portfolio of manufacturing operations management solution. It is used for various applications such as product lifecycle management, enterprise resource planning, and shop floor automation solutions. Development of new software solutions for manufacturing applications in different countries set to drive enterprise manufacturing intelligence market.
Sight Machine announced the availability of its next-generation Manufacturing Data Platform (MDP) in 2019. The SaaS platform of Sight Machine uses real-time data analytics and AI to unlock the next stage of quality improvement and to achieve fast, concrete efficiency, profitability, and sustainability for manufacturing companies.
Related Reports:
Smart Process Application Market — Forecast(2023–2028)
Report Code: ITR 21639
Enterprise Software Market — Forecast(2023–2028)
Report Code: ITR 0051
Self-service Bi Market — Forecast(2023–2028)
Report Code: ITR 44130
Enterprise Content Management Market — Forecast(2023–2028)
Report Code: ITR 82545
For more Automation and Instrumentation Market reports — Please click here