( PR4US.com | Press Release | 2017-03-18 20:34:25 )
The enterprise manufacturing intelligence (EMI) market is expected to be valued at USD 3.95 Billion by 2022, growing at a CAGR of 17.1% between 2016 and 2022. For more details download this sample pages: https://tinyurl.com/ksufzbl
The growth of this market is driven by tough competition among the manufacturing companies, growing need for enhanced operational efficiency, rising supplier complexity, and stringent regulatory framework in the highly regulated industries.
Embedded deployment type is expected to lead the enterprise manufacturing intelligence market between 2016 and 2022. The growth of the market is driven by the factors such as ongoing technological advancements, increasing popularity of IoT, and growing demand for sustainable production.
The automotive sector witnessed rapid changes in the manufacturing technologies. Original equipment manufacturers in the automotive industry are facing challenges of manufacturing, designing, and upgrading conventional powertrain models to synchronize their manufacturing processes with the emerging technologies for enhanced consumer satisfaction and better experiences. On account of this, EMI software would gain traction during the forecast period.
The market for EMI services is expected to grow at the highest CAGR between 2016 and 2022. On account of growing pressure among manufacturing firms to reduce the manufacturing cost, improve product quality as well the manufacturing yield, and stringent regulatory compliance, the demand for EMI services is likely to increase during the forecast period.
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EMI is tailor-made software that varies based on the needs and demands of directed end user industries. The requirement of EMI depends on the demand from process and discrete industries. EMI has applications in data integration, data contextualization, analytics and analysis, and visualization across industries.
The America is expected to account for the largest share of the enterprise manufacturing intelligence market during forecast period. EMI is witnessing a rapid adoption rate across various industries such as oil and gas, automotive, medical devices, chemicals which is expected to support the market growth in the America.
The key market players such as ABB Ltd. (U.S.) and Schneider Electric SE (France) are focusing on new product launches and developments, acquisitions, and collaborations strategies to enhance their product offerings and expand their business.