Model Based Manufacturing Technologies Market: Surging Towards a US$ 104.3 Billion Valuation by 2033

Model Based Manufacturing Technologies Market

The global model based manufacturing technologies market is expected to be valued at approximately US$ 46.4 billion in the year 2023. This market is anticipated to grow significantly and reach a value of around US$ 104.3 billion by the year 2033. This growth is expected to occur at an annual average rate of 8.4% from 2023 to 2033.

Several factors are anticipated to fuel the growth of the market. These include the availability of diverse applications for digital technologies in the development and production processes, along with the continually advancing features of the software utilized.

The emergence of viable model-based manufacturing techniques has encouraged industries like manufacturing to start implementing it into their operations, resulting in faster, more accurate, and less expensive production.

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Manufacturers’ performance expectations from new tool and equipment designs for increased efficiency are rising. This has prompted industrial manufacturers to prioritise the development of technology platforms and new operating models that enable connected products and services to be integrated into their customers’ operations.

This technological development trend is expected to support market growth. Furthermore, rapid technological advancements in the automotive industry have increased demand for model-based manufacturing technologies in order to improve economic competitiveness.

Key Takeaways: Model Based Manufacturing Technologies Market Report:

  • The cloud deployment segment will reflect relatively faster growth with a CAGR of 8.7%, owing to the benefits of remote access.
  • Large enterprises are estimated to contribute over 59% of the overall market. However, small and medium enterprises (SMEs) are likely to reflect a strong CAGR of above 8%.
  • Among end-use industries, the automotive segment is anticipated to hold the dominant share of 23.8% in 2021, backed by the rise of IoT connectivity opportunities.
  • The U.S. is projected to account for over 81% of North America owing to adoption of next-gen emerging technologies.
  • The market in India is expected to progress at a noteworthy CAGR of more than 13% through 2031, driven by an expanding automotive sector.
  • The U.K. market is expected to rise at a CAGR of close to 10% over the coming decade, with impetus from research and development programs.

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Recent Developments

To achieve a competitive edge, market participants are concentrating on innovation and strategic collaborations.

  • Siemens Digital Industries Software launched the current version of its industry-leading NX software, which is part of the Xcelerator portfolio of services and products, in February 2022. The new NX Topology Optimizer assists in the creation of parts solely based on operational and architectural requirements, leading to entirely configurable convergent bodies that would make it nearly impossible to create and construct manually.
  • Bentley Motors, a division of Volkswagen Group, disclosed in February 2022 that it would double the additive manufacturing (AM) capacity at its factory in Crewe, England, which is liable for the assembly of all Bentley models.
  • Ford launched CAD files in February 2022, allowing consumers to 3D print models of their Maverick pickup truck components.

Leading Key Players:

  • Oracle Corporation
  • SAP SE
  • Dassault Systèmes
  • Honeywell International, Inc.
  • Siemens Digital Industries Software
  • Rockwell Automation, Inc.
  • PTC
  • Autodesk, Inc.
  • Aspen Technology, Inc.
  • iBASEt Inc.
  • Schneider Electric
  • ABB
  • General Electric
  • Sepasoft, Inc.
  • Hexagon AB

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Model Based Manufacturing Technologies Market Segmentation:

By Solution:

  • Software
    • Manufacturing Execution Systems (MES) Software
    • Material Requirements Planning (MRP) Software
    • Product Lifecycle Management (PLM) Software
    • CAD/CAM Software
    • Manufacturing ERP Software
    • Others
  • Services
    • Professional Services
    • System Integration & Implementation
    • Security Consulting
    • Support & Maintenance
    • Managed Services

By Deployment:

  • Cloud
  • On-premises

By Enterprise Size:

  • Small and Medium Enterprises (SMEs)
  • Large Enterprises

By Industry:

  • Automotive
  • Electronics and Semiconductors
  • Aerospace and Defense
  • Oil & Gas
  • Healthcare & Pharmaceuticals
  • Food & Beverages
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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