DIGITAL MANUFACTURING MARKET ANALYSIS

Digital Manufacturing MarketSize and Trends

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.  

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, Teamcenter. Such services help electronics manufacturing organizations to install Teamcenter on the cloud with the help of Infrastructure as a Service.

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. 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.

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. 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