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. According to Coherent Market Insights, over 42 billon devices are projected to be connected to the internet by 2020. Moreover, the demand to reduce capital expenditure, shorten lead times, and high productivity is expected to increase the demand for digital manufacturing in various verticals.Request Sample Copy @
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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. Furthermore, digital manufacturing authenticates automation and robotics programs and accelerates the factory manufacturing process. Also, the implementation of digital manufacturing provides real-time access to the product lifecycle information to the administration.
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. The increasing R&D investment in the aerospace & defense and automotive sectors in the U.S provides immense growth opportunity to the digital manufacturing market. In 2016, the U.S invested US$ 14.3 billion in R&D in aerospace & defense industry up from US$ 14.1 billion in 2015. Similarly, for R&D in automotive sector, the U.S. spent US$ 39.6 billion in 2016 up from US$ 37.5 billion in 2015.
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Some of the key players operating in the global digital manufacturing market include Autodesk, Dassault Systèmes, Mentor Graphics, PTC, and Siemens PLM Software. The new product launch is one of the major strategies for the market leaders to increase their market presence. For instance: Autodesk Inc. an America based software company have officially announced that they have launched a Netfabb 2017, a comprehensive toolkit for additive manufacturing professionals.