Artificial intelligence (AI) is the current buzzword popular among enterprises. Companies of different streams are adopting artificial intelligence to analyze patterns and enhance their business solutions. Regional and local players are adopting these methods to make their ground in their respective markets while the global players are innovating trends and products to expand their global reach using analytics and artificial intelligence. Moreover, AI gives regional players, the flexibility to operate anywhere in the world irrespective of their location.

In the manufacturing industries, the operations and production processes are wired and involve an intricate structure. According to the United Nations Industrial Development Organization (UNIDO), world manufacturing production attained $12,863 billion in 2017 and experienced a growth rate in global MVA (manufacturing value-added) from 2.7% in 2016 to 3.5% in 2017. This increasing robust manufacturing industry base coupled with the transformation occurring with the emergence of AI is resulting in the growth of manufacturing intelligence software in the market. These organizations are striving to keep up the pace in the AI revolution as well as with their competitors to mitigate the production and maintenance costs. Besides, the manufacturing enterprise can handle the increasing raw material costs with optimum resources and minimum investments by analyzing and monitoring the data collected. Therefore, the manufacturing enterprises are leveraging on business intelligence (BI) solutions to remain abreast of developments and sustain critical business elements.

The global enterprise manufacturing intelligence market size reached a value of $1.54 billion in 2018. Furthermore, the opportunities this market is galvanizing at a CAGR of 15.5% during 2019-2025.

The Power of Real-time Data in the Manufacturing Intelligence Market

Today, performance and productivity are key dynamics of the manufacturing industries. Enterprise manufacturing intelligence tools and software are a holy grail for the manufacturers to work towards augmenting these dynamics constantly. Typically, performance is analyzed by relying on the individual’s as well as competitors’ data by generating actionable insights promptly. The huge growth of cloud-based data integration allows real-time data monitoring between global and distributed manufacturing plants. This, in turn, allows scalable predictive maintenance of the plants and ensures the delivery of optimum production with no unexpected power failures or downtime of the equipment and processes.

On the other hand, the manufacturing intelligence allows to drill down into the historical trends and deliver real-time insights, thereby, leading to effective supply chain management in the industries. Besides, the advent of Industrial revolution 4.0 led to the combination of manufacturing intelligence and IoT. These technologies collectively are implementing real-time data operations and are transitioning traditional models in the machine health condition monitoring and manufacturing execution systems. Therefore, they are leading to a smooth integration of manufacturing and production. As a result, real-time data operations are gaining huge significance and thriving the enterprise manufacturing intelligence market growth. For instance, in 2019, Honeywell International Inc. has introduced new enterprise performance management software called Honeywell Forge. This software enables the companies to enhance their real-time data operations by ensuring top-to-bottom visibility of their performance using advanced data analytics. Honeywell Forge analyzes large quantities collected from processes and equipment and enable real-time monitoring of enterprise operations from a single screen. Products as such improve energy consumption, space optimization, and decrease operating expenses. These kind of products are surging in the manufacturing industries such as chemicals, aerospace and defense, petrochemicals, and others.

Europe to be Most Lucrative in the Global Enterprise Manufacturing Intelligence Market

The manufacturing production in Europe is growing at a fast pace in the global manufacturing sector. In 2017, according to the UNIDO, Europe was experiencing significant growth rate in the manufacturing production and constituted about 25.4% in the global MVA share with Germany, France, and Italy in the list of top 10 countries. With the growth of the manufacturing industries combined with the digital revolution initiatives, Europe accounted for 36% in the global enterprise manufacturing intelligence market share as of 2018. Besides, to take full advantage of the digital revolution, the region is unlocking the potential of IoT, cloud computing, and big data in the manufacturing processes and services resulting in high-efficiency across all the sectors. Adding to that, several frameworks and policies initiated by the European Commission, such as ‘Digitising European Industry Initiative (DEI)’ as a part of the digital single market strategy. This aims to ensure building and complementing other national initiatives towards strengthening benefits from digitization. Furthermore, the industries of Europe are reinforcing their businesses with cybersecurity, digital industrial platforms, and upgrading with relevant digital skills. Therefore, with huge traction from government initiatives and investments, enterprise manufacturing intelligence is gaining ground in Europe.

Automotive Sector Surging with Huge Demand for the Enterprise Manufacturing Intelligence Market

Automotive is a massive industry with a long record of harnessing updated technologies to enhance the safety and efficiency of the vehicles. Besides, the automotive sector pipeline is convoluted. So, to control and operate these giant networks involved in the automotive sector, there is an ever-growing demand for integrated software solutions to increase responsiveness, precision, and meet with the demands of the customers. As a result, the automotive industry is thriving with innovations in the enterprise manufacturing intelligence market and observing a lucrative CAGR of 16.9% during the forecast period. The automotive sector is the fastest to adopt the technological advancements in manufacturing to improve the quality, shorten design-to-launch times, and effectively manage production during critical high-demand duration. Also, the advanced automotive OEMs are automating inspection and integrating metrology data, which further influence the decision-making in these businesses. The enterprise manufacturing intelligence answers these demands of the automotive industry by providing demand management and insights and smoothens the manufacturing networks and operations. Vehicle fleet management has entered into a next level with the help of enterprise manufacturing intelligence by collecting and analyzing customer data of fleet operations. With all these growth prospects in the automotive sector, the enterprise manufacturing intelligence industry is surging with huge demand.

Key Players Perspective in the Global Enterprise Manufacturing Intelligence Market

The core companies operating with major share in the global enterprise manufacturing intelligence market are Honeywell International Inc., Yokogawa, ABB Ltd., Emerson Electric, Siemens AG, Dassault System, Rockwell Automation, Schneider Electric SE, and SAP SE. The dominant players of the enterprise manufacturing intelligence industry are striving to deliver industry-specific solutions with a wide product portfolio.

Few of the advancements in the global enterprise manufacturing intelligence industry include:

•    Product Launch - In 2019, Siemens AG launched Siemens Opcenter software. This software provides solutions to address the needs of manufacturing operations management (MOM). This product meets the demands of the manufacturing enterprises such as visibility, reduced time to production, quality, and production efficiency. Besides, it is connected with a cloud-ready portfolio to ensure harmonized consumer experience in manufacturing operations.

•    Product Launch – In 2018, SAP SE expanded its SAP Leonardo Blockchain technologies to build and expand applications. The company is working to embed this technology into SAP manufacturing, and other supply chains of products to simplify processes and offer greater transparency in the value chain of pharmaceutical, transportation, food industries, and others.

•    Acquisition – In 2019, Siemens Digital Industries Software acquired ESTEQ, a distributor of manufacturing operations software and services, and design and simulation in product lifecycle management. With this acquisition, Siemens expands its base in South Africa and UAE to deliver technology solutions and services to manufacturing companies to enhance their processes.

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Related Reports:

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https://www.industryarc.com/PressRelease/1149/Business-Intelligence-Market-Research.html

B.     Enterprise Software Market

https://www.industryarc.com/Report/15404/enterprise-software-market.html

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