Capvidia, a CAD software provider in model-based definition (MBD) workflows, has reported another record year in 2021. With a 5-Year CAGR of 26.1%, Capvidia expects rapid growth as more manufacturing conglomerates utilize digital technology to speed up their digital transformation plans.
Known as Industry 4.0, the goal is to apply 21st century breakthroughs such as AI, IoT, and Big Data to traditional factories which would lead to automation, cloud computing, and digital twins (cyber-physical systems)—aka, smart factories.
However, a major bottleneck has been the inability to have non-proprietary, authoritative, and traceable data to work with all facets of manufacturing equipment and software. Model-based enterprise (MBE) supplies such a solution through MBD, a 3D annotated CAD model as a single source of truth.
“Capvidia has been studying the MBE & MBD trend for over 15 years,” Daniel Campbell VP of MBD of Capvidia said. “We knew it would be steady, continuous growth; however, with the pandemic and the level of global competition, the need to modernize outdated manufacturing practices & technologies is becoming paramount.”
With an estimated CAGR of 15.4% for 2021-2025, the model-based approach is poised for substantial gains with Capvidia and other leading technology partners such as PTC, Siemens, Autodesk, and Dassault providing MBD solutions.
“Awareness is growing significantly,” David Van Och, Sr. Solutions Consultant, at PTC said. “The number of customers going into the MBE/MBD journey are seeing the business value of having the 3D model as the master. A lot of customers are in transition from 2D drawings to 3D models.”
Large manufacturers such as Lockheed Martin, Stryker, and Schneider Electric have worked closely with Capvidia in successful MBD projects and have seen immediate ROI with potentially bigger gains through organizational adoption.
“Major manufacturers see MBD as a path towards optimizing their manufacturing culture,” Campbell said. “The more agile manufacturers go, the more they will see the business value of MBD. For the manufacturing industry, MBD resembles the Internet in the early 2000s. The technology is both exciting and scary, full of potential and pitfalls – however, it’s inevitable.”
Model-based definition (MBD) is the practice of having the 3D CAD model become the authoritative information source for a product’s lifecycle. This is done by including semantic product manufacturing information (PMI) within the 3D CAD model that is both human and machine-readable.
For more information: www.capvidia.com