NEW YORK, Jan. 13, 2016 /PRNewswire/ -- Market outlook of the EMI market
Technavios market research analyst predicts the global EMI market to grow steadily at a CAGR of around 11% during the forecast period. The need to raise productivity in manufacturing is the primary growth driver for this market. Conventional manufacturing processes and business strategies can no longer match a companys productivity targets. As a result, manufacturers are innovating business models and products and are framing new business policies to enhance the manufacturing processes. For instance, Rockwells FactoryTalk offers new ways to boost production, reduce costs, and improve product quality. This software offers users comprehensive insight into existing equipment and identifies the main causes of downtime and loss of productivity, thereby modernizing the manufacturing process
The growth of big data analytics is expected to boost the market growth during the forecast period. Industries such as automotive, electrical, consumer packaged goods, pharmaceuticals, aerospace and defense, and oil and gas generate large volumes of plant-floor system data and enterprise-level data. The integration of big data analytics with the EMI software helps an enterprise to identify, analyze, and mitigate various issues and faults in the manufacturing unit. It boosts productivity in real time and enables effective and efficient data sharing between business units within an enterprise or a production plant to facilitate product development or service management.
End-user segmentation and analysis of the EMI market
Discrete industries accounted for around 60% of the market share during 2015. Price pressures have compelled the discrete manufacturing sectors to innovate continuously and reduce scrap and rework, improve asset utilization, and deliver top quality products to end-users. EMI software provides visual dashboards and offers operators and managers the ability to monitor their production processes in real-time.
Geographical segmentation and analysis of the EMI market
The Americas dominated the global market during 2015, accounting for a market share of around 42%. The early adoption of cloud-based EMI software, which eliminates the need for high initial investment, has been driving the growth of the market in this region. However, analysts predict this region to witness a decline in market shares during the forecast period due to market saturation.
Competitive landscape and key vendors
The need to boost production processes through efficient data sharing, analysis, and monitoring of production units and enterprise units has sparked high demand for EMI software. This has resulted in market consolidation with large international vendors getting into M&A. The intense competition among the existing large international vendors and new vendors has spurred the development of new and updated EMI software. Vendors in this market generate most of their revenue through indirect sales channels.
The leading vendors in the market are-
Other prominent vendors in the market include Epicor, GE, HP, Schneider Electric, QISOFT, Rockwell Automation, and Siemens.
Key questions answered in the report include
What will the market size and the growth rate be in 2020
What are the key factors driving the global EMI market
What are the key market trends impacting the growth of the EMI market
What are the challenges to market growth
Who are the key vendors in this market space
What are the market opportunities and threats faced by the vendors in the EMI market
Trending factors influencing the market shares of the Americas, APAC, and EMEA
What are the key outcomes of the five forces analysis of the global EMI market
Technavio also offers customization on reports based on specific client requirement.
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