According to recent data, the global MBD (model based development) market size is expected to reach close USD 30.45 Billion by 2028. The global MBD market is growing at a much higher rate due to increasing engineering activities, growing demand for errorless and time saving models.
In addition to this, MBD offers suppression of erroneous documents and drawings, better data consistency, enhanced virtual study of product, and better support for modern technology-enabled tasks for engineering and manufacturing fields. These are some of the key benefits increasing demand and supporting the growth of global model based development market.
Manufacturers and suppliers are working towards enhancing the model based development deliverable. However, increasing safety requirements, low resources, inappropriate organization structure, high investment costs for required tools and employee training are some key challenges hindering growth of the global MBD market.
Moreover, increasing complexity, requirement of change in management and failure in adaption, lack of acceptance of advanced MBD (model based development) approach, and regulatory issues are also the key factors hampering the growth of global MBD market.
Nevertheless, certain solutions are coming up in the market addressing the above challenges faced by model based development players. Introduction of reporting systems, adoption of advanced framework, and use of Simulink and Stateflow auto-coded into C at the software level solutions are anticipated to be significant growth opportunities in the global MBD (model based development) market.
Model based development is a methodology based on V-cycle used for software development. The software models are highly beneficial in complex control processes. Model based development is rapidly adopted by various automotive manufacturers and suppliers globally for the improvement of infrastructural development comprising quality, logistics, and mechanics.
The benefits offered by the MBD are increasing its adoption in the engineering, automotive, and other industries anticipated to be a growth opportunity for the global MBD market.
The global model-based development technology provider to the industries including engineering, aerospace, manufacturing, automotive, etc and dominating the global MBD market are Anark Corporation, Aras Corporation, Oracle Corporation, HCL Technologies, SAP SE, Autodesk, Dassault Systèmes, General Electric, and Siemens AG.
These companies are serving the global client base and have invested heavily for technology innovation, up-skilling employees, expansion in local and global markets, product innovation, and other key factors.
Key Segments of the Global MBD Market
Type Overview, 2018-2028 (USD Billion)
Application Overview, 2018-2028 (USD Billion)
- Electronics and Semiconductor
- Aerospace and Defence
- Medical Equipment
- Industrial Equipment
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and Africa
Reasons for the study
- To put forward the major investment opportunities, challenges (near-term and long-term), and strategic recommendations to stay competitive in the global MBD market.
- To evaluate the current position of the market, costs and benefits of model based development in various industries, and identification of criteria for cost optimization.
- To give an outlook about the potential of further investment in global MBD (model based development) space.
What does the report include?
- Detailed market study based on aforementioned segmentation.
- Financial details of the overall market as well as details of individual segments, countries, and regions functional in the global MBD market.
- Study of market influencers, challenges, and investment opportunities in the global MBD market.
- Latest developing shaping the market upcoming products and innovations study.
- Detailed study of the competitive environment.
- Evaluation of the aforementioned data based on standard market methodologies such and primary and secondary analysis, and SWOT and Porter’s Five Forces Analysis.
Who should buy this report
- The study on MBD (model based development) is useful for a wide range of market participants including producers, suppliers, software developers, business executives, vendors, department managers, team leaders, CEO’s, experts of model based development, and experts from research departments.
The adoption of model based development in complex systems in the automotive and other domains is widely increasing. The players in the industry are realising the benefits offered by MBD over traditional and document oriented approach for high complex systems. The advantages of adopting MBD like high efficiency as more as 50% in development, reductions in errors faced during traditional and document based approaches, and rapid increase in maturity level of developed functions are driving the global MBD market.
Moreover, cost, time, and quality changes, improvement in product quality, development of functions, efficient development are also the key factors leading to adoption of MBD and rise in global MBD market. Most importantly, integration of MBD with advanced technology is offering higher efficiency, better quality, and thrice return on investment to the manufacturers as well as the end users. Thus increasing number of small, medium, and large companies from various industries are adopting model based development.
Based on various approaches the MBD market is classified based on different segments. The MBD type segment is further categorised into on-premises and cloud. The on-premises segment in the MBD market accounted for maximum market share. The on-premises offers full control over licenses, better data protection, one-time cost investment, independent license from external service provider, and deeper integration into customer’s infrastructure are the key factors driving the growth of global MBD market.
Based on various approaches the global MBD market is classified based on different application areas.
The automotive segment accounted for highest revenue in 2020 and is projected to record substantial growth in the forecasted years. The reduction in system complexity, test suite reusability, auto-generation of code, errorless model that traditional document based model, enhanced efficiency are some key benefits offered to the automotive segment post adoption of MBD thereby driving the segment growth in the market.
The North American countries are the most mature markets for model based development. The increasing engineering activities, growing demand for errorless and time saving models. Moreover, rising demand of model that offer suppression of erroneous documents and drawings, better data consistency, enhanced virtual study of product, and better support for modern technologies enabled tasks for engineering and manufacturing field are the key factors for growth of global MBD market in North America.
APAC is also experiencing better growth in the market with increasing automobile manufacturing and design activities as well as growth of other industries in APAC.