PUNE, India, November 22, 2016 /PRNewswire/ --
According to the new market research report "Enterprise Manufacturing Intelligence Market by Deployment Type (Embedded, and Standalone), Offering (Software, and Services), End-User Industry (Automotive, Oil & Gas, Pharmaceutical, Food & Beverages), and Geography - Global Forecast to 2022", published by MarketsandMarkets, The EMI Market is estimated to be valued at USD 1.53 Billion in 2016 and is expected to register a CAGR of 17.1%, to reach USD 3.95 Billion by 2022.
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Browse 68 market data Tables and 69 Figures spread through 165 Pages and in-depth TOC on "Enterprise Manufacturing Intelligence Market"
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The growth of this market is driven by the tough competition among manufacturing companies, growing need for enhanced operational efficiency, rising supplier complexity, and stringent regulatory framework in the highly regulated industries.
"Embedded deployment to hold the largest share of the enterprise manufacturing intelligence market during the forecast period"
Embedded deployment type is expected to lead the enterprise manufacturing intelligence market between 2016 and 2022. The growth of the market is expected to be influenced by factors such as ongoing technological advancements, increasing popularity of IoT, and growing demand for sustainable production.
"Automotive industry to hold the largest share and grow at the highest rate between 2016 and 2022"
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.
"North America expected to dominate the EMI market between 2016 and 2022"
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 North America. Further, the presence of leading market players in this region and increasing government's investments is anticipated to fuel the North American market.
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The major players involved in the Enterprise Manufacturing Intelligence market include ABB Ltd. (U.S.), Honeywell International Inc. (U.S.), Rockwell Automation, Inc. (U.S.), Schneider Electric SE (France), Siemens AG (Germany), Emerson Electric Co. (U.S.), General Electric Co. (U.S.), Aspen Technology, Inc. (U.S.), Dassault Systèmes (France), Yokogawa Electric Corporation (Japan) and SAP SE (Germany).
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