The Europe Model Based Enterprise Market would witness market growth of 14.1% CAGR during the forecast period (2024-2031).
The Germany market dominated the Europe Model Based Enterprise Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $2,107.7 million by 2031. The UK market is exhibiting a CAGR of 13% during (2024 - 2031). Additionally, The France market would experience a CAGR of 15% during (2024 - 2031).
After products are delivered to customers, MBE continues participating in service and maintenance activities. Digital models are used to create Digital Twins—virtual physical assets replicas enabling predictive maintenance, remote monitoring, and performance optimization. Service technicians can access digital models to troubleshoot issues, diagnose faults, and plan maintenance activities, leading to reduced downtime, increased equipment reliability, and enhanced customer satisfaction.
Also, MBE supports the entire product lifecycle, from concept to retirement. Digital models capture rich metadata and product data that can be leveraged for lifecycle management activities such as configuration management, change management, and compliance tracking. Organizations can use MBE platforms to maintain a digital thread of product information, enabling traceability, auditability, and compliance with regulatory requirements throughout the product lifecycle.
With the UK aerospace industry being a major player globally, there is a growing demand for advanced technologies to support innovation and competitiveness. As a result, there is an increasing need for MBE solutions that can streamline design, engineering, and manufacturing processes while facilitating collaboration and communication across the supply chain. As per the International Trade Administration, the aerospace sector in the United Kingdom is export-driven and ranks second largest globally, after the United States. Civil aerospace revenue in the United Kingdom reached an estimated $34.5 billion in 2022. The defense industry achieved an approximate turnover of $29 billion in 2022, of which $15 billion was allocated for exports. Hence, the expansion of the region’s aerospace industry is driving the market’s growth.
Free Valuable Insights: The Global Model Based Enterprise Market will Hit USD 34.5 Billion by 2031, at a CAGR of 14.5%
Based on Offering, the market is segmented into Solution and Services. Based on Deployment Mode, the market is segmented into On-premise and Cloud. Based on Vertical, the market is segmented into Aerospace, Electronics & Telecommunications, Construction, Healthcare & Lifesciences, Food & Beverages, Marine, Oil & Gas, Automotive and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
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