Digital Manufacturing Market Insights,Overlook & Major Challenges

Posted by avinash on February 27th, 2020

Digital manufacturing is a process of improving the manufacturing process of the product from virtual to physical world. Increasing adoption of cloud-based PLM software is projected to increase the demand for digital manufacturing specific applications. This will enable the manufacturing plants to access the PLM software from remote areas as well. Technomatix and Manufacturing 360 are applications that are used in the iOS and Android gadgets respectively. Furthermore, increasing adoption of internet of things in manufacturing industries fuels market growth globally.

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Digital Manufacturing Market Taxonomy

On the basis of deployment model, the global Digital Manufacturing market is segmented into:

  • Cloud-based model

  • On-premises model

Increasing adoption of cloud-based digital manufacturing software is one of the key factor driving market growth. Venders are concentrating on reducing the cost of Product Lifecycle Management (PLM), thereby trying to introduce cloud-based product lifecycle solutions in the market. Several PLM service providers are installing PLM on the cloud for end users. For instance, Wipro Limited, a worldwide information technology, outsourcing, and consulting firm, is offering cloud-based PLM services to Siemens PLM Software solution,

On the basis of end-use industry, the global Digital Manufacturing market is segmented into:

  • Automotive

  • Aerospace & Defense

  • Electrical and electronics

  • Industrial machinery

  • Consumer packaged goods

  • Utilities & Process

  • Others

The increasing sales and R&D investment in automotive industry globally provide significant growth opportunity to the global digital manufacturing market. According to “Organisation Internationale des Constructeurs d'Automobiles”, in 2016, around 98.8 million units of vehicles were sold worldwide up from 89.7 million in 2015. Moreover, according to Coherent Market Insights analysis, US$ 94.2 billion was spent on automotive R&D in 2016 up from US$ 91.5 billion in 2015. The implementation of digital manufacturing in the automotive production process smoothens the flow of plant and product data during various process.

Digital Manufacturing Market Outlook – North America holds the largest market share

On the basis of geography, global digital manufacturing market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America held the dominant position in the global digital manufacturing market in 2016 and is projected to retain its dominance throughout the forecast period. The U.S., Mexico, and Canada are the three major economies, which contribute to the swift growth of market in the region.

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Digital Manufacturing Market Players

Some of the key players operating in the global digital manufacturing market include Autodesk, Dassault Systèmes, Mentor Graphics, PTC, and Siemens PLM Software.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.



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Joined: February 19th, 2020
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