Model Based Enterprise Market worth $21.3 billion by 2023

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MarketsandMarkets Presents
Model Based Enterprise Market by Offering
(Solutions, Services), Deployment Type
(On-Premise, Cloud), Industry (Aerospace
Defense, Automotive, Construction, Retail, Power
Energy, Food Beverages) and Geography -
Global Forecast to 2023 According to the new
market research report on "Model Based Enterprise
Market by Offering (Solutions, Services),
Deployment Type (On-Premise, Cloud), Industry
(Aerospace Defense, Automotive, Construction,
Retail, Power Energy, Food Beverages) and
Geography - Global Forecast to 2023", This market
is expected to reach USD 21.3 billion by 2023
from USD 8.1 billion by 2018, at a CAGR of
21.17. Wide-ranging applications of digital
technologies in design and manufacturing,
evolving software capabilities, and rising
adoption of IoT and cloud-based platforms are a
few key factors driving the growth of this market.
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Model based enterprise market for services is
expected to grow at faster rate during forecast
period The market for services is expected to
grow at a higher rate than that of the solutions
during the forecast period owing to high
requirement of services for the effective working
of any software solution deployed by end users.
Moreover, services are necessary to increase the
efficiency of the entire process in product
manufacturing. Companies such as Dassault
Systèmes, Autodesk, Siemens, and PTC are a few
leading service providers in the model based
enterprise market Dont miss out on business
opportunities in model based enterprise market
Speak to our analyst and gain crucial industry
insights that will help your business grow
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ew.asp?id122038238 Aerospace defense
industry expected to hold largest share of
overall model based enterprise market during
forecast period Aerospace defense is one of the
major industries investing aggressively in
developing new technology solutions to anticipate
and respond to changing customer requirements. To
meet these demands, aerospace and defense
companies adopt digital business models to
accelerate product development, improve revenue
generation, drive efficiency, and improve supply
chain performance by managing the entire product
lifecycle.
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Hence, this industry is expected to hold the
largest share of the overall model based
enterprise market during the forecast
period. Browse and in-depth TOC on " Model based
enterprise market " 64 - Tables 49 - Figures
151 - Pages   View more detailed TOC _at_
https//www.marketsandmarkets.com/Market-Reports/
model-based-enterprise-market-122038238.html Nort
h America to account for largest size of overall
model based enterprise market in 2018 North
America is expected to continue to hold the
largest size of the MBE market during the
forecast period. It is one of the early adopters
of MBE as most of the large MBE providing
companies contributing to the growth of the
market are located in this region. The market is
growing steadily and has the potential to grow
further in the region as several companies and a
variety of industries are adopting MBE solutions
and services at various product development
stages to sustain in the market, increase
productivity, and improve their manufacturing
processes.
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Moreover, the increased RD activities in the
field of IoT and IIoT and escalated demand for
efficient and cost-effective technologies for
product manufacturing are the factors driving the
MBE market growth in this region. Request for
Free Sample Report _at_ https//www.marketsandmarkets
.com/requestsampleNew.asp?id122038238 The
report profiles the most promising players in the
model based enterprise market. The competitive
landscape of the market presents an interesting
picture of strategies adopted by a large number
of players. Siemens AG (Germany), General
Electric (GE) (US), PTC, Inc. (US), Dassault
Systèmes SE (France), Autodesk, Inc. (US), SAP SE
(Germany), HCL Technologies Ltd. (India), Oracle
Corporation (US), Aras Corporation (US), and
Anark Corporation (US) are the key players in the
said market
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