According to the latest market research study published by P&S Intelligence, the model-based enterprise (MBE) market is expected to generate USD 13.9 billion in revenue in 2024, projected to grow at a CAGR of 15.0% from 2024 to 2030, reaching USD 32.1 billion by the end of this period. Key factors driving this growth include evolving business challenges in meeting client expectations, which prompt companies to adopt innovative strategies and technologies for enhanced productivity and efficiency. High-quality sectors, such as aerospace and automotive, further drive the market due to strict regulatory safety standards and a rising consumer demand for superior products.
The MBE approach integrates digital 3D models, providing detailed visual and informational insights throughout a product's lifecycle, from manufacturing to delivery. By adopting MBE practices, companies can boost collaboration, reduce errors, enhance traceability, and improve product data accuracy.
- Industry 4.0 is accelerating globally, encouraging manufacturers to adopt MBE principles to drive smart, efficient manufacturing and sustainable product development.
- Manufacturing software continues to evolve, eliminating outdated functionality and embracing IoT, which supports data-rich, operational activities that enhance product development.
- Transitioning from traditional 2D drawings to MBE requires significant adjustments in work processes, along with investments in training and hardware/software updates.
- The design segment is anticipated to dominate, comprising 40.0% of the market share, largely due to 3D CAD models replacing traditional engineering drawings across product lifecycles.
- Aerospace and defense, holding a 35% share in 2024, lead in MBE adoption due to the complexity and innovation demands in these sectors.
- North America, particularly the U.S., is projected to account for 45% of the market share in 2024 due to strong technological infrastructure, a robust aerospace sector, and industry-leading MBE providers like Autodesk, GE, and PTC.
- APAC is expected to witness rapid growth at a 15.5% CAGR, driven by expanding aerospace initiatives, urbanization, and a supportive MBE ecosystem.
