Manufacturing process performance is a key competitive factor for manufacturing organizations. Digital manufacturing is a process, which focuses on improving the manufacturing process of the product from virtual to physical world. Digital manufacturing is a subset of Product Lifecycle Management (PLM) that focuses on Computer-Aided Manufacturing Simulation (CAMS) that uses three dimensional (3D) visualization, analytics, and various collaboration tools for making products and setting a manufacturing process definitions at the same time.
The rising 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 360 and Manufacturing 360 are applications that are used in the iOS and Android gadgets respectively.
Rising use of cloud-based digital manufacturing software has become one of the key factors driving market growth. Venders are concentrating on reducing the cost of 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 example, 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.
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The increasing sales and rising 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, 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. Moreover, the implementation of digital manufacturing provides real-time access to the product lifecycle information to the administration.
Digital Manufacturing Market Outlook – North America holds the largest market share
On the basis of geography, global digital manufacturing market is classified into North America, Europe, Asia Pacific, Latin America, and 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 countries, 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 spent 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.
Digital Manufacturing Market Players
Some of the key participants in the global digital manufacturing market are, Autodesk, Dassault Systèmes, Mentor Graphics, PTC, and Siemens PLM Software.
For More Information https://industrytoday.co.uk/manufacturing/digital-manufacturing-market---global-industry-insights--trends--outlook--and-opportunity-analysis--2017-2025
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