Chicago, April 15, 2024 (GLOBE NEWSWIRE) -- The global model based enterprise market size is expected to grow from USD 13.6 billion in 2024 to USD 27.1 billion by 2029, at a CAGR of 14.9% from 2024 to 2029. Digitization is necessary for the growth of the manufacturing industry to increase productivity and improve quality. Various companies are optimizing their supply chain functions, shortening their product development cycles, increasing efficiencies, and reducing production costs by adopting digital solutions such as injection molding, computer numerical control (CNC) machining, 3D printing, the Industrial Internet of Things (IIoT), and artificial intelligence (AI).
As of 2023, Siemens (Germany), PTC (US), Dassault Systèmes (France), SAP (Germany), Autodesk Inc. (US), HCL Technologies Limited (India), and Oracle (US) are some of the notable players in this market.
To know about the assumptions considered for the study
Major Model Based Enterprise companies include:
- Siemens (Germany)
- PTC (US)
- Dassault Systèmes (France)
- SAP (Germany)
- Autodesk Inc. (US)
- HCL Technologies Limited (India)
- Oracle (US)
Siemens
Siemens is one of the global technology providers with core activities in the fields of automation, electrification, and digitalization. Siemens operates through the following reportable business segments: Digital Industries, Smart Infrastructure, Mobility, Siemens Healthineers, and Portfolio Companies. The company offers model based enterprise market-related offerings through its Digital Industries business segment. The company has a presence in more than 190 countries across the world.
PTC
PTC is one of the leading providers of computer software and services. The company has two primary business units—Software and Professional Services, which includes core CAD, PLM, SLM solutions software, and related services. The company offers a wide range of innovative products, such as computer-aided design (CAD) modeling software, PLM, and service life cycle management (SLM) solutions. Various manufacturers use these solutions to create, operate, and service their products. The company also offers a suite of IoT solutions that enable a secure connection with smart devices, management and analysis of data, and quick creation of an application to its customers.
Dassault Systèmes
Dassault Systèmes is the 3DEXPERIENCE company that develops 3D design, 3D digital mock-up, and product life cycle management software. The company has a strong software product portfolio for different applications, ranging from modeling and scientific simulation to production and logistics optimization. The company has more than 180 offices in 42 countries. The company primarily serves consumers in transportation and mobility, industrial equipment, aerospace, high-tech life sciences, energy, consumer goods and retail, architecture, engineering and construction, and marine and offshore industries through sales force and value-added resellers.
