Description of the Report
Investments in Automation Cause Decrease of Data Management funds COVID-19
EIM solutions for engineering information (EIM) are essential in efficient data management in crucial sectors like medical technology, healthcare, and F&B as part of the COVID-19 epidemic. Executives and decision-makers realize the importance of EIM software for enabling more sophisticated product designs and greater customer satisfaction. In the same way, a drop in funds for data management is taking place in the Engineering Information Management Solutions Market for solutions since customers are more invested in investments in automation and robotics.
The coming decade is expected to see growth in Industry 4.0, industrial Internet of Things (IIoT), and digitization. This is predicted to generate potential revenue streams for companies operating in the engineering information management (EIM) solutions market. The need for speedier data integration for manufacturers, in the end, will boost the growth of the market.
Companies address the challenges of users to reduce errors, rework
The engineering information management (EIM) solutions market is predicted to reach US$1 23 Billion by the close of 2030… But, there is an urgent demand for software that will reduce the amount of work and mistakes. Coreworx, an integrated project information management solutions provider for the world’s an engineering and construction industries, is boosting its marketing capabilities to reduce rework and ensure compliance with business activities.
Companies operating in the Engineering Information Management (EIM) solution market are working hard to address customer issues that burden document management and allow deviations with no loss of corporate governance. They are expanding the range of software that guarantees the integrity and control of revisions to information.
EIM Software Help Overcome Development Costs in Life Sciences Innovation
The stakeholders in the construction and engineering sectors in India are turning to Wipros EIM software that has been standardizing and automating data management. Companies in the engineering information management (EIM) services market are working with architects, domain experts, and product experts to assist in speeding up the business process. The robust EIM solutions can help improve engineering data quality, reduce resource shortage, and allow collaboration that boosts ROI (ROI).
It is estimated that the engineering information management (EIM) solutions market is predicted to have an impressive CAGR of 10 percent throughout the evaluation period. This is evident because companies are taking advantage of the potential for growth in life sciences-related innovations. Because device and analytical instrumentation companies are faced with difficulties when introducing new products onto the market due to their high expenses for development, EIM tools are utilized to address this issue.
Increased efficiency in 3D Design Preferred by Stakeholders in the Design Sector
Design and engineering activities are experiencing a transformation due to the rapid growth of Industry 4.0 and IIoT. Digital transformation across many companies recognizes the necessity for collaboration and management of data. These trends translate into revenue growth opportunities for companies operating in Engineering Information Management (EIM) solution market. AVEVAs Engineering & Design Data Management solutions are getting more acceptance for their ability to integrate engineering tools and new methods of control to speed up data exchange and deliver better project results. A close eye on capital expenditures and increased performance within three-dimensional Design are the most sought-after by those working in the engineering and design industries.
Collaboration on Construction Projects the Connected Team Collaboration
Risk reduction and connected teams are the order of the day in the construction industry. Oracles Aconex Construction Project Controls Software is being promoted to increase awareness and better field administration. To increase the use of these solutions, firms in the engineering information management (EIM) solutions market are expanding their options for user-friendly and complete software that can be implemented in a matter of days.
The construction technology platforms that the government authorizes are becoming more popular in the defense industry. End-to-end process management and data-driven intelligence are being targeted by software developers working in the Engineering Information Management (EIM) marketplace for solutions. The coordination of Design and construction is being addressed through collaborative projects connected to a unifying source of truth to improve data management.
Engineering Information Management (EIM) Solutions Market Overview
- Based on Transparency Market Research’s latest research report on the global engineering information management (EIM) solutions market, the period between 2018-2019 and the projected period 2020-2030 forecasts the market to be worth US23 billion in 2030, growing at a CAGR of around 10 percent over the forecast time. Innovations in technology and high-speed solutions for the independent management of information within industries are expected to drive the growth of the engineering information management (EIM) solutions market. In addition, increasing the adoption of engineering information management (EIM) solutions that facilitate efficient enterprise operations that can improve productivity is anticipated to accelerate the expansion of the industry. This is why providers of engineering information management (EIM) solutions are expanding their range of solutions and protocols by incorporating advanced technology like artificial intelligence to create various options in the engineering information management (EIM) solution market.
- North America is anticipated to become the most prominent EIM (EIM) market for solutions, followed by Europe and the Asia Pacific during the forecast timeframe.
The Increasing Need for Document Management for Engineers is a Key Motor
- The volume, size, and complexity of documents created by organizations create problems in the search and retrieval of documents. Engineering document management assists companies or organizations in managing their documents or project files efficiently. Additionally, the management of engineering documents is a crucial aspect of engineering information management tools which lowers the risk of document inconsistency and accuracy within organizations. It also centralizes the exchange of information across the core business systems and organizes data to facilitate quicker commissioning of projects within companies. This is expected to increase the development in the engineering information management (EIM) solutions market. In addition, they focus on efficiency; engineering document management is on both the cost and the effectiveness of the shared data. This is why engineering information management (EIM) solutions help companies operate more quickly and efficiently to streamline the management of engineering documents to a large extent. EIM solutions for engineering information (EIM) can streamline workflow processes within businesses, which will, in turn, boost the development of the management and engineering (EIM) solution market.
- In addition, there is a growing demand for document management engineering to improve the efficiency of companies by providing an efficient method of tracking documents from any location while monitoring and managing document security, and the integration of enterprise business systems into companies is driving the market for engineering Information Management (EIM) markets for solutions.
Principal Challenges posed by Engineering Information Management (EIM) Solutions Market Players
- The engineering Information Management (EIM) solutions must be upgraded and improved to meet the demands of new customers. In addition, most engineering information management solutions require significant power. This is why high-end computers and sophisticated manufacturing tools, which are expensive, limit the expansion of the Engineering Information Management (EIM) solution market worldwide. Additionally, engineers’ information management (EIM) solutions have high maintenance costs that are concealed and are challenging to forecast and quantify. Furthermore, during the process of installing these solutions, various issues arise, like training employees in integration, testing and training, and the replacement of old equipment and devices. These issues hinder the growth in the global engineering information management (EIM) solutions market.
Growing Adoption of Engineering Information Management (EIM) Solutions for the Power Generation Industry Globally
- Growing demands for engineering information management (EIM) solutions for the power and utilities for the Design of geospatial engineering products and infrastructure such as power plants has created enormous possibilities for the Engineering Information Management (EIM) solution market. Additionally, engineering information management (EIM) solutions are employed for power plant management to create models for power plants of all sizes and shapes and to maintain and manage power plants. The precise engineering used to create power plants plays an essential part in the utility and power sector, which, in turn, opens up enormous opportunities for Engineering Information Management (EIM) markets for solutions. In addition, the mapping, site imaging, and site layout tools to visualize the land asset of the power generation sector create enormous growth opportunities in the engineering information management (EIM) solutions market.
- Additionally, Engineering information management (EIM) solutions help engineers within the energy generation sector to develop and transfer data about plant operations and changes to the operators so that they can oversee the entire process seamlessly in the field, i.e., from power generation to distribution and transmission, all the way to the end-user.
- All power generation companies must regularly prove that the facilities operate within the parameters of their permits. This can comprise environmental, performance, and safety standards. This is achievable through integrating engineering information management (EIM) solutions into the power generation sector. This can lead to potential opportunities for the market of the engineer’s information management (EIM) solutions.
Engineering Information Management (EIM) Solutions Market Landscape of Competition Landscape
- The detailed profiles of the companies that offer EIM and engineering management (EIM) solutions are included in the report to assess their financial performance, the most important offerings in the market, new developments, and strategies
- Principal players in the world engineering management (EIM) solutions market are
- Accruent LLC (BlueCielo)
- Aconex (Oracle Corporation)
- Assai Software Services B.V.
- Autodesk, Inc.
- Aveva Group plc
- Bentley Systems Incorporated
- Cadac Group
- Coreworx Inc.
- Doculynx Operations
- quorum Corporation
- Ever Team Software
- Hexagon AB
- InEight, Inc.
- Lascom SA
- OpenText Corp.
- Opis Idox plc.
- Pentagon Solutions Ltd.
- Procore Technologies, Inc.
- SAP SE
- Synergis Technologies LLC
- Tech Mahindra
- Viewpoint, Inc.
- Wipro Ltd.
- Zenit Solutions NV
Engineering Information Management (EIM) Solutions Market Key Trends
- The major players in the Engineering Information Management (EIM) products include Autodesk, Inc., Aveva Group plc, Bentley Systems Incorporated, OpenText Corp., and Opidis Idox plc. Focus on creating and implementing engineering information management (EIM) solutions to draw more customers. The most significant advancements that are happening in the worldwide market for engineering information management (EIM) markets are listed below:
- In November 2020, Lascom SA and Aptean joined forces to increase their cloud-native solution offerings across Europe and North America. Through this collaboration, Lascoms PLM and Apteans ERP will open up new opportunities for each company and provide an innovative capability in innovation management to customers.
- In November 2020, the think project team entered into an enterprise agreement with HOCHTIEF Aktiengesellschaft for future infrastructure projects. Additionally, think the project will provide construction intelligence services, BIM, workflow maps, and other things to oversee international construction projects.
- In March 2018, in March, AVEVA Group plc joined together with Schneider Electric SE, an APM supplier of products. The company only merged the software division for industrial applications that is part of Schneider Electric. The result has been improved AVEVA’s final markets and geographic balance, such as increasing its presence within North America.
- Within the engineering information management (EIM) markets report, we’ve reviewed individual strategies, followed by profiles of company owners of the engineering information management solutions suppliers. The Competitive Landscape section is included within the study to provide the readers with an overview of the competitive landscape and a market share analysis of the major companies operating within the engineering management (EIM) solutions market.
Engineering Information Management (EIM) Solutions Market Scope of the report
The most recent study, published and collated through Transparency Market Research (TMR), examines the historical and current market conditions for the engineering information management (EIM) solution market to pinpoint the potential for its future growth. The report provides detailed details on the most important market drivers, limitations, and significant trends setting the stage for the future expansion of the engineering information management (EIM) solutions market. It also helps determine the most lucrative avenues for business opportunities for all the stakeholders. The report also provides valuable data on how engineers can benefit from how their engineering information management (EIM) solutions market will develop over 2020- 2030.
The report provides detailed information on the various features of the engineering data management (EIM) solutions market, which assists businesses that operate in the market with strategic decisions. TMRs study also provides a detailed analysis of the critical changes likely to shape the Engineering Information Management (EIM) markets expansion for solutions in the coming years. The study also analyzes COVID-19’s impact on the engineering information management (EIM) solution market. The global engineering information management (EIM) market report aids in estimating data on market development by value (U.S. million dollars).
The report comprehensively segments the engineering data management (EIM) solutions market, critical data, and a market outlook. The report provides companies of the major companies currently leading the engineering management (EIM) solutions market. Various developments, expansions, and winning strategies implemented by the top players are described in greater detail.
Key Questions answered MWRs Research Report Engineering Information Management (EIM) Solutions Market.
The report offers specific information on navigating the engineering information management (EIM) markets for solutions based on extensive research into various aspects which play an essential part in speeding up the market’s potential growth. The report addresses the most pressing questions for firms that currently operate within the market and seeks innovative methods to establish a benchmark for the engineering information management (EIM) solutions market to help develop effective strategies and make targeted decisions.
- How do market leaders profit from engineering information management systems?
- What will be the YOY expansion of the Engineering Information Management (EIM) solution market between 2020 and 2030?
- What are the market leaders’ most effective imperatives in the engineering information management (EIM) solution market?
- What are the main factors that drive and restrict the market
- What will be the magnitude of the Engineering Information Management (EIM) solution market from 2020 until 2030?
- Which is the fastest-growing segment of the engineering market for the information management (EIM) solutions market?
- Which are the top firms in the market for Engineering Information Management (EIM) solutions?
- What are the tactics of businesses operating on the market?
Research Methodology Engineering Information Management (EIM) Solutions Market
The methodology used by analysts in preparing their Engineering Information Management (EIM) Solutions market study is built on thorough secondary and primary research. Through the use of deep knowledge of information from industry associations that are gathered and validated from market-validated sources, Analysts have made fascinating insights and accurate predictions of Engineering Information Management (EIM) markets for solutions. In the first research phase, analysts conducted interviews with industry participants, including investors, brand managers, vice presidents, brand managers, and marketing and sales managers. Based on the information collected through interviews with natural sources, analysts have focused on the evolving nature affecting the engineering (EIM) solution market. Analysts conducting secondary studies analyzed many annual reports, white papers, and information from significant countries around the world, the association of industry publications, and company websites to get the proper knowledge of the engineering information management (EIM) market for solutions.
|Engineering Information Management (EIM) Solutions Market Report Scope and Segmentation|
|UNIT||Value (USD Million/Billion)|
|BY REGION||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
Engineering Information Management (EIM) Solutions Market Segmentation
MWR’s research study analyzes the market for engineering information management (EIM) solutions based on the application, solution, enterprise size, industry, and region. The study provides comprehensive market dynamics and trends that relate to different segments and how they impact the future growth of the engineering information management (EIM) solutions market.
- North America
- The Netherlands
- Czech Republic
- Rest of Europe
- Asia Pacific
- South Korea
- Australia & New Zealand
- Rest of Asia Pacific
- South America
- Rest of South America
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Northern Africa
- Rest of MEA