Market Trends of Enterprise Manufacturing Intelligence Industry
This section covers the major market trends shaping the Enterprise Manufacturing Intelligence Market according to our research experts:
Automotive Segment is Expected to Witness Significant Growth
- The automotive sector is witnessing a rapid change in manufacturing technologies. The original equipment manufacturers in the industry are also facing multiple challenges of designing, manufacturing, and upgrading the conventional powertrain models to synchronize their manufacturing processes with the advanced technologies that will enhance consumer satisfaction and better experiences.
- The rapidly increasing adoption of automation in the automotive manufacturing process and the advent of digitization and AI technology are some of the primary factors that are driving the demand for manufacturing intelligence solutions, in the automotive sector.
- From the progressive assembly line to lean manufacturing processes, the automotive industry has always been the first to adopt advanced manufacturing technology. As the industry is facing reduced design-to-production times, automotive manufacturers and suppliers across the globe are expected to drive the demand for these solutions.
- Moreover, the rapidly shifting market conditions, the increasing competition, cost pressure, and the volatility is changing the industry landscape. Moreoever, with the advent of autonomous driving vehicles, changing ownership and usage models, the automotive industry is on the verge of a revolutoin.
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North America is Expected to Hold a Major Share
- The North American region is expected to hold a significant market share primarily, owing to the fact that multiple modern manufacturing facilities in the region rely on new technologies and innovations that are used to produce higher quality products at a significant rate, with lower costs.
- Moreover, owing to the early adoption of trending technologies, like the IoT, Big Data, DevOps, and Mobility, manufacturers in the region are integrating multiple technologies such as IoT and robotics, to streamline their processes and use the deeper insights generated with the data analytics.
- Fast and secure 5G connectivity is also expected to enable agile operations and flexible productions in the manufacturing domain. This technology is expected to facilitate automated warehouses, automated assembly, connected logistics, packing, and product handling, and the use of autonomous cars that will be optimized to function optimally with the usage of data.
- Moreover, automotive manufacturing has been one of the largest revenue generators for the region in the manufacturing sector. Canada is witnessing a resurging economy, with continuous growth over the past years. The automotive sector in Ontario is primarily relying on mixed technologies, such as AI, ML, and wearable intelligent robots, that assist humans in the manufacturing process.
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