Global model-based enterprise market is anticipated to grow at a significant CAGR of 10.9% during the forecast period (2024-2031).The market growth is attributed to the growing use of Industry 4.0, which has made it easier for manufacturers to collect and evaluate data from various machines and to develop effective workflows that enable them to produce things of higher quality at lower costs. Moreover, Industry 4.0 encourages the cooperation of different processes in product creation, which propels the market for MBE to grow. For instance, in November 2021, iBase-t introduced a Model-based Enterprise (MBE) offering that can accelerate a manufacturer’s Industry 4.0 journey.iBase-t’s MBE offering overcomes these challenges by easing how this data is shared between design and manufacturing to simplify the complexities caused by design changes inherent in model-based engineering.
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Enterprises turning to AI need access to a full technology stack that enables them to train, tune, and deploy AI models, including foundation models and machine learning capabilities, across their organization. For instance, in May 2023, IBM Watsonx, a new AI and data platform was released. Itenable enterprises to scale and accelerate the impact of the most advanced AI with trusted data. The New Watson products are infused with foundation models and generative AI to be launched for code, AIOps, digital labor, security, and sustainability.
The most recent open-access model increases developer productivity by outperforming previous generative AI performance and gives developers equitable access to the advantages of code generation AI, which benefits enterprises.For instance, in February 2024, ServiceNow, Hugging Face, and NVIDIA introduced StarCoder2, a family of open-access large language models for code generation that sets new standards for performance, transparency, and cost-effectiveness. Trained in 619 programming languages, StarCoder2 can be further trained and embedded in enterprise applications to perform specialized tasks such as application source code generation, workflow generation, text summarization, and more.
Global Model-Based Enterprise Market Report Segment
By Offering
- Solutions
- Services
By Deployment Type
- Cloud
- On-premise
By End User
- Aerospace
- Automotive
- Construction
- Retail
- Power & Energy
- Food & Beverages
- Life Sciences &Healthcare
- Marine
- Oil & Gas
- Others (Electronics & Telecommunications)
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Model Based Enterprise Market Report Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- Altair Engineering Inc.
- ANSYS, Inc.
- Aras Corp.
- Autodesk, Inc.
- Bentley Systems International Ltd.
- Cadence Design Systems, Inc.
- Capvidia NV
- CIMdata, Inc.
- EnterpriseDB Corp.
- ESI Group
- IBASET INC.
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- We cover more than 15 major industries, further segmented into more than 90 sectors.
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