Focus on Automation and Robotics:
The COVID-19 pandemic has prompted a surge in investments in robotics and automation, leading to a decline in funds allocated to data management. This shift is impacting the EIM solutions market as clients prioritize technologies that enhance productivity and streamline operations.
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Rise of Industry 4.0 and IIoT:
The upcoming decade is predicted to witness the proliferation of Industry 4.0, industrial Internet of Things (IIoT), and digitization. This trend is creating revenue opportunities for companies in the EIM solutions market, driven by the need for streamlined data integration in end manufacturing processes.
Challenges and Solutions:
Companies in the EIM solutions market are addressing challenges related to time-consuming document management and permit exceptions. Efforts are being made to provide software that ensures information revision control, integrity, and reduces rework, aligning with the market’s projected value reaching US$ 23 Bn by the end of 2030.