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Global Enterprise Manufacturing Intelligence Market to Reach $4.5 Billion by 2024SAN FRANCISCO, Aug. 11, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Enterprise Manufacturing Intelligence - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE Complimentary Project Preview - This is an ongoing global program. Preview our research program before you make a purchase decision. We are offering a complimentary access to qualified executives driving strategy, business development, sales & marketing, and product management roles at featured companies. Previews provide deep insider access to business trends; competitive brands; domain expert profiles; and market data templates and much more. You may also build your own bespoke report using our MarketGlass™ Platform which offers thousands of data bytes without an obligation to purchase our report. Preview Registry ABSTRACT- Global Enterprise Manufacturing Intelligence Market to Reach $4.5 Billion by 2024 EMI solution centralizes all production data collected from disparate production process to enable users to perform analysis on information related to availability, capacity, production costs, quality, and KPIs. The actionable intelligence can be visualized in the form of graphs, reports or status. EMI also allows users to modify the real-time graphical status and information without the assistance of system integrator or IT personnel. The solution combines existing data with estimated data points to determine a range of possible outcomes. The key benefits of implementing EMI applications include streamlined reporting system, automation of operations, ability to generate numerous ad hoc reports, problem solving capabilities, and shorter implementation time. EMI connects and integrates disparate sources of information into a single report that enables enterprises to spot different trends. EMI solution automates data exchange between plant-floor and enterprise-level systems that facilitates timely delivery of requisite information to right department. Generating ad hoc reports provides a granular view into the operation of different departments and interaction with disparate data sets helps in identifying the root cause of malfunction in the system. Amid the COVID-19 crisis, the global market for Enterprise Manufacturing Intelligence is projected to reach US$4.5 Billion by 2024, registering a compounded annual growth rate (CAGR) of 16.8% over the analysis period. The United States represents the largest regional market for Enterprise Manufacturing Intelligence, accounting for an estimated 27.9% share of the global total. The market is projected to reach US$1.6 Billion by the close of the analysis period. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 19.7% over the analysis period. The increasing focus on lean manufacturing is one of the major drivers of the EMI market. In the recent years, various companies have started focusing on lean manufacturing concepts for optimizing resources and production costs, and deal with various challenges. These practices allow organizations to reduce wastage within the supply chain. The implementation of EMI enables companies to gain useful insights into operations and take better decisions to improve productivity and goods quality. In addition, the penetration of big data analytics is expected to further stimulate the EMI market owing to its anticipated adoption in the oil & gas, defense and aerospace industries. The integration of EMI software and big data analytics along with the use of advanced cloud-based software is likely to help organizations in identifying, analyzing and mitigating faults and issues across manufacturing units to improve productivity and data sharing across business verticals. Based on its appealing return on investment as well as faster time to value, EMI software is anticipated to gain further adoption in diverse industries. The EMI market is expected to also gain from increasing competition and the need for data analytics. On the other hand, high capital investments to implement EMI, the cost involved in integration of these tools, and the need to frequently update the software are expected to hinder the market growth. In addition, vendors are required to tailor their solutions for addressing specific need of end-use industry verticals. Companies implementing EMI software need to make efforts to achieve productivity gains without additional investments and frequently update programs for generating desirable results. More MarketGlass™ Platform Our platform is free for qualified executives and is accessible from our website www.StrategyR.com or via our just released mobile application on iOS or Android About Global Industry Analysts, Inc. & StrategyR™ CONTACTS: LINKS Connect With Us on LinkedIn Follow Us on Twitter Journalists & Media
SOURCE Global Industry Analysts, Inc. 
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