Model-based Enterprise Market size was valued at USD 21.21 billion in 2024 and is expected to cross USD 100.67 billion by the end of 2037, expanding at more than 14.4% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of model-based enterprise is estimated at USD 23.67 billion.
The growth of the market can be attributed to the growing adoption of the Internet of Things (IoT). In 2022, about 33% of North American and European organizations were integrating IoT technology into their daily operations. By offering more data and insights into product performance and customer behavior, the increased adoption of the Internet of Things (IoT) is anticipated to enhance demand for model-based enterprise (MBE).
The growing adoption of the 5G network is another factor that is set to boost the demand for the model-based enterprise. With less latency and greater capacity, 5G networks are intended to offer faster and more dependable communication. IoT devices would be able to interact more rapidly and effectively, supporting the transmission of bigger data sets. The deployment of Internet of Things (IoT) devices in more remote and rural locations would be possible since to the predicted expansion of 5G networks' coverage over earlier cellular network generations.
Growth Drivers
Challenges
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
14.4% |
Base Year Market Size (2024) |
USD 21.21 billion |
Forecast Year Market Size (2037) |
USD 100.67 billion |
Regional Scope |
|
Deployment Mode (On - Premise, Cloud)
Model-based enterprise market from the cloud segment is projected to garner the highest revenue by 2037, driven by the growing adoption of the cloud. In the US, about 93% of businesses employ cloud services, whereas approximately 66% of business infrastructure is now cloud-based. Cloud storage options offer a safe and expandable environment for hosting and distributing MBE data. Also, virtual teams may interact and collaborate in real time owing to cloud-based collaboration technologies. This could facilitate communication, lower error rates, and hasten the product development process. Additionally, engineers and designers may execute intricate simulations and analyses with the help of cloud-based simulation tools without having to spend a lot of money on high-end gear or software.
End User (Aerospace & Defense, Automotive, Construction, Power & Energy, Retail)
The automotive segment in the model-based enterprise market is slated to have significant growth during the forecast period. Model-Based Enterprise (MBE) is a significant technology used to enhance the effectiveness and caliber of the product development process in several key industries, including the automobile industry. MBE gives makers of automobiles a standardized method for creating products, allowing them to improve efficiency and cut down on waste. MBE gives automakers the ability to simulate and evaluate many design possibilities before creating physical prototypes. This results in lower costs and raise overall product quality. MBE could also be used to produce thorough manufacturing plans that contain all the required product data, including design, engineering, and manufacturing information. This could aid in lowering errors and enhancing manufacturing process effectiveness. Additionally, MBE could help to optimize the maintenance and repair process by giving accurate and up-to-date product information.
Our in-depth analysis of the global market includes the following segments:
Offerings |
|
Deployment Mode |
|
End User |
|
North American Market Forecast
The model-based enterprise market in North America is poised to have the highest growth by 2037. The growth of the market is backed by the growing adoption of the automobile, along with a surge in awareness among people regarding the model-based enterprise. The growing adoption of digitalization and automation in manufacturing processes. The increased demand for MBE has also been influenced by the availability of skilled individuals in North America. The region offers a big pool of talented engineers and other people with knowledge of sophisticated manufacturing technology, making it an appealing site for businesses interested in implementing MBE practices.
APAC Market Statistics
The Asia Pacific model-based enterprise market is set to have the highest growth during the forecast timeline. Rapid industrialization is taking place in the Asia-Pacific area, where several nations have made significant investments in manufacturing and infrastructure. The need for advanced manufacturing technologies, such as MBE, is rising as a result. With several businesses vying for market share in quickly expanding business sectors. By increasing the effectiveness of product development and manufacturing, MBE is viewed as a means of gaining a competitive edge. MBE is frequently employed in various sectors to enhance product quality and cut costs.
Author Credits: Abhishek Verma
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?