Digital Manufacturing Market
Digital Manufacturing Market Forecasts to 2030 - Global Analysis By Component (Hardware, Software, Services, and Other Components), Product (Cloud-based design and manufacturing, and On demand), Process Type, Technology, Application and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $400.38 BN |
|
Projected Year Value (2030) |
US $1,267.87 BN |
|
CAGR (2023 - 2030) |
17.9% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
Europe |
According to Stratistics MRC, the Global Digital Manufacturing Market is accounted for $400.38 billion in 2023 and is expected to reach $1,267.87 billion by 2030 growing at a CAGR of 17.9% during the forecast period. The process of developing products virtually as digital prototypes with the use of Computer-Aided Design (CAD) software is known as "digital manufacturing." Digital systems and cutting-edge technology are used in digital manufacturing to manufacture goods and products. It includes a number of specialised tools and technologies, which includes computer-aided design (CAD), computer-aided manufacturing (CAM), and three-dimensional (3D) printing, which can design, develop, and create items more quickly and effectively.
According to the Occupational Safety and Health Administration (OSHA), a part of the US Department of labor, around 252,000 manufacturing industries in the US employ approximately 6.5 billion people.
Market Dynamics:
Driver:
Increasing in implemention of digital manufacturing
Digital manufacturing is helping to validate robotics and automation programmes, aiding in the acceleration of the factory manufacturing process, assisting in the implementation of Six Sigma and other lean operation management, making the production process easier, helping to smoothen the flow of product and plant information during modifications without losing consistency in product design, machining and tooling information, and 3D information of the product that can be viewed at the same time. Therefore, during the forecasting period, these factors will have a favourable effect on the expansion of the worldwide Digital Manufacturing Market.
Restraint:
High cost of implementation and complexity of processes
The electronics industry is quickly embracing and integrating modern innovations to improve operational effectiveness and lower overall development costs.From product and process design through customer feedback, Digital Manufacturing has evolved into a crucial component of the overall design and development system. Meanwhile, the significant initial expenditure required for the Digital Manufacturing and communication infrastructure. A comprehensive list of business requirements must be defined as part of the costly process of deploying Digital Manufacturing software. Thus, the high cost of implementation and complexity of processes will negatively impact the growth of the global market during the forecast period.
Opportunity:
Rising use of product lifecycle management
The market's expansion is primarily being driven by the new trend of digitalization and the rising use of product lifecycle management (PLM) systems. A cloud-based digital manufacturing solution known as product lifecycle management assists in managing complicated product information, manufacturing workflows, product engineering, and collaborations while affording authorities flexibility.
Threat:
Increasing Security Threats in Connected Devices
Most third-party-businesses engaged in business operations maintain the information-technology systems and networks. Robotics and IoT-connected devices that process and maintain data are vulnerable to coordinated and targeted cyber attacks. The security and integrity of data are at risk because of this. Additionally, these cyber-attacks harm consumers' reputations in addition to their information, which could result in fines, legal action from the government, and litigation with other parties. Such Flaws pose a serious risk to IoT Implementation, particularly in the manufacturing-production-sector. Therefore, the expansion of the digital manufacturing market is constrained by the growing security risks in linked devices.
Covid-19 Impact:
The COVID-19 epidemic had a mixed impact on the development of the digital manufacturing sector because of the widespread adoption of advances in technology that made it possible for projects to continue in a virtual and digital environment, even when participants was unable to gather. The pandemic has compelled manufacturers to create safer and more efficient methods to run their businesses. On the other hand, because of the lockdown, there was less production activity, which hampered the market.
The robotics segment is expected to be the largest during the forecast period
The robotics segment is expected to be the largest during the forecast period. Robotics assists a manufacturing site's operational vehicles to connect to one another. It provides every day information on Fabrication, manufacturing processes, weak points, equipment outages, and impending tasks, reducing vehicle downtime and maximising vehicle productivity with the least amount of fuel consumption. Additionally, this involves planned maintenance that prevents project delays brought through inadequate service and unavoidable breakdowns. Acquisitions are being made by major organisations like Siemens AG and Aras Corporation, in order to expand their product lines of robots for the manufacturing sector.
The 3D Printing segment is expected to have the highest CAGR during the forecast period
The 3D Printing segment is expected to have the highest CAGR during the forecast period. The market for 3D designing printing is driven by an increase in demand for customised products. 3D-Printers are employed in the precise manufacturing processes of the complicated construction. The market is growing as a result of the expanding infrastructure development in numerous nations. In addition, the 3D-Printing-Technologie aids in reducing time and waste during product manufacturing and minimising the expenses associated with the manufacturing process. It is preferable to older technology, which has expensive labour requirements. The market for digital manufacturing is driven by several industrial businesses' increased use of 3D-Printing Technology.
Region with largest share:
The Asia-Pacific region is expected to have the largest share during the forecast period, owing to the rising urbanisation and rapid technological usage. Developing countries with robust manufacturing sectors include Vietnam, Myanmar, Thailand, the Philippines, and Thailand. Urbanisation also increases the number of renovation and building projects, which is anticipated to grow the demolition sector. Therefore, it is projected that the adoption of automation and robotics will lead to market expansion.
Region with highest CAGR:
The Europe region is expected to have the highest CAGR during the forecast period. The use of digital technology in manufacturing-related operations is encouraged by the European Union's major focus on fostering digitalization and innovation in the fields of IoT, Big Data, Edge Computing, and other technologies to transform the economic value chain. For instance, in June 2020, the drone company Parrot unveiled the new drone ANAFI USA, which can be used for 3D manufacturing mapping and aerial surveying.
Key players in the market
Some of the key players in Digital Manufacturing market include Autodesk Inc., BobCAD-CAM Inc., Dassault Systemes SE, HCL Technologies Ltd., Makino Inc., PTC Inc., Tebis Technische Informationssysteme AG, CNC Software LLC, MecSoft Corp., Bentley Systems Inc., CAD Schroer GmbH, Graebert GmbH, Hexagon AB, NTT DATA Corp., Siemens AG, SolidCAM GmbH, ZWSOFTA Co. Ltd., OPEN MIND Technologies AG and Makino Inc.
Key Developments:
In August 2023, TCS launches neural manufacturing solutions on Microsoft Cloud. The cloud combines various Microsoft technologies, linked by a common data model to build resiliency and sustainability through operational visibility, data integration, and digital collaboration.
In July 2023, TCS partners Microsoft for generative AI solutions. Tata Consultancy Services has deepened its partnership with Microsoft by announcing plans to significantly scale its Azure Open AI expertise, and launching its new Generative AI Enterprise Adoption offering on Microsoft Cloud to help customers jumpstart their generative AI journey.
Components Covered:
• Hardware
• Software
• Services
• Other Components
Products Covered:
• Cloud-Based Design and Manufacturing
• On Demand
Process Types Covered:
• Computer-Based Designing
• Computer 3D Visualization
• Computer-Based Simulation
• Analytics
• Other Process Types
Technologies Covered:
• Robotics
• Internet of Things (IoT)
• 3D Printing
• Other Technologies
Applications Covered
• Automotive and Transportation
• Consumer Electronics
• Aerospace and Defense
• Industrial Machinery
• Utilities and Processes
• Hi-tech Electronics
• Assembly Sequencing
• Factory Layout
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Digital Manufacturing Market, By Component
5.1 Introduction
5.2 Hardware
5.2.3 RFID Tags
5.2.4 Intelligent System
5.2.5 Sensor
5.3 Software
5.3.1 Data and Operation Management Software
5.3.2 Connectivity Solutions
5.3.3 Remote Management & Logistic Solutions
5.3.4 Safety and Security Systems
5.3.5 Analytics Solutions
5.3.6 Asset Management Solutions
5.4 Services
5.4.1 Support and Maintenance
5..4.2 Consulting Services
5.4.3 System Integration
5.5 Other Components
6 Global Digital Manufacturing Market, By Product
6.1 Introduction
6.2 Cloud-Based Design and Manufacturing
6.3 On Demand
7 Global Digital Manufacturing Market, By Process Type
7.1 Introduction
7.2 Computer-Based Designing
7.3 Computer 3D Visualization
7.4 Computer-Based Simulation
7.5 Analytics
7.6 Other Process Types
8 Global Digital Manufacturing Market, By Technology
8.1 Introduction
8.2 Robotics
8.3 Internet of Things (IoT)
8.4 3D Printing
8.5 Other Technologies
9 Global Digital Manufacturing Market, By Application
9.1 Introduction
9.2 Automotive and Transportation
9.3 Consumer Electronics
9.4 Aerospace and Defense
9.5 Industrial Machinery
9.6 Utilities and Processes
9.7 Hi-tech Electronics
9.8 Assembly Sequencing
9.9 Factory Layout
9.10 Other Applications
10 Global Digital Manufacturing Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Autodesk Inc.
12.2 ARAS Corporation
12.3 HEXAGON AB
12.4 TATA Consultancy Services
12.5 Siemens AG
12.6 SAP SE
12.7 Parametric Technology Corporation
12.8 Bestplant
12.9 Dassault Systèmes
12.10 DURR Group
12.11 Mentor Graphics Corporation
12.12 Cogiscan Inc.
12.13 Krontime SL
12.14 Microsoft Corp.
12.15 Capgemini Service SAS
12.16 Intel Corp.
12.17 Oracle Corp.
12.18 Bentley Systems Inc.
12.19 AVEVA Group Plc
12.20 CAD Schroer GmbH
List of Tables
1 Global Digital Manufacturing Market Outlook, By Region (2021-2030) ($MN)
2 Global Digital Manufacturing Market Outlook, By Component (2021-2030) ($MN)
3 Global Digital Manufacturing Market Outlook, By Hardware (2021-2030) ($MN)
4 Global Digital Manufacturing Market Outlook, By RFID Tags (2021-2030) ($MN)
5 Global Digital Manufacturing Market Outlook, By Intelligent System (2021-2030) ($MN)
6 Global Digital Manufacturing Market Outlook, By Sensor (2021-2030) ($MN)
7 Global Digital Manufacturing Market Outlook, By Software (2021-2030) ($MN)
8 Global Digital Manufacturing Market Outlook, By Data and Operation Management Software (2021-2030) ($MN)
9 Global Digital Manufacturing Market Outlook, By Connectivity Solutions (2021-2030) ($MN)
10 Global Digital Manufacturing Market Outlook, By Remote Management & Logistic Solutions (2021-2030) ($MN)
11 Global Digital Manufacturing Market Outlook, By Safety and Security Systems (2021-2030) ($MN)
12 Global Digital Manufacturing Market Outlook, By Analytics Solutions (2021-2030) ($MN)
13 Global Digital Manufacturing Market Outlook, By Asset Management Solutions (2021-2030) ($MN)
14 Global Digital Manufacturing Market Outlook, By Services (2021-2030) ($MN)
15 Global Digital Manufacturing Market Outlook, By Support and Maintenance (2021-2030) ($MN)
16 Global Digital Manufacturing Market Outlook, By Consulting Services (2021-2030) ($MN)
17 Global Digital Manufacturing Market Outlook, By System Integration (2021-2030) ($MN)
18 Global Digital Manufacturing Market Outlook, By Other Components (2021-2030) ($MN)
19 Global Digital Manufacturing Market Outlook, By Product (2021-2030) ($MN)
20 Global Digital Manufacturing Market Outlook, By Cloud-Based Design and Manufacturing (2021-2030) ($MN)
21 Global Digital Manufacturing Market Outlook, By On Demand (2021-2030) ($MN)
22 Global Digital Manufacturing Market Outlook, By Process Type (2021-2030) ($MN)
23 Global Digital Manufacturing Market Outlook, By Computer-Based Designing (2021-2030) ($MN)
24 Global Digital Manufacturing Market Outlook, By Computer 3D Visualization (2021-2030) ($MN)
25 Global Digital Manufacturing Market Outlook, By Computer-Based Simulation (2021-2030) ($MN)
26 Global Digital Manufacturing Market Outlook, By Analytics (2021-2030) ($MN)
27 Global Digital Manufacturing Market Outlook, By Other Process Types (2021-2030) ($MN)
28 Global Digital Manufacturing Market Outlook, By Technology (2021-2030) ($MN)
29 Global Digital Manufacturing Market Outlook, By Robotics (2021-2030) ($MN)
30 Global Digital Manufacturing Market Outlook, By Internet of Things (IoT) (2021-2030) ($MN)
31 Global Digital Manufacturing Market Outlook, By 3D Printing (2021-2030) ($MN)
32 Global Digital Manufacturing Market Outlook, By Other Technologies (2021-2030) ($MN)
33 Global Digital Manufacturing Market Outlook, By Application (2021-2030) ($MN)
34 Global Digital Manufacturing Market Outlook, By Automotive and Transportation (2021-2030) ($MN)
35 Global Digital Manufacturing Market Outlook, By Consumer Electronics (2021-2030) ($MN)
36 Global Digital Manufacturing Market Outlook, By Aerospace and Defense (2021-2030) ($MN)
37 Global Digital Manufacturing Market Outlook, By Industrial Machinery (2021-2030) ($MN)
38 Global Digital Manufacturing Market Outlook, By Utilities and Processes (2021-2030) ($MN)
39 Global Digital Manufacturing Market Outlook, By Hi-tech Electronics (2021-2030) ($MN)
40 Global Digital Manufacturing Market Outlook, By Assembly Sequencing (2021-2030) ($MN)
41 Global Digital Manufacturing Market Outlook, By Factory Layout (2021-2030) ($MN)
42 Global Digital Manufacturing Market Outlook, By Other Applications (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
Figure 1 Global Digital Manufacturing Market Outlook (2021-2030) ($MN)
Figure 2 North America Digital Manufacturing Market Outlook (2021-2030) ($MN)
Figure 3 US Digital Manufacturing Market Outlook (2021-2030) ($MN)
Figure 4 Canada Digital Manufacturing Market Outlook (2021-2030) ($MN)
Figure 5 Mexico Digital Manufacturing Market Outlook (2021-2030) ($MN)
Figure 6 Europe Digital Manufacturing Market Outlook (2021-2030) ($MN)
Figure 7 Germany Digital Manufacturing Market Outlook (2021-2030) ($MN)
Figure 8 UK Digital Manufacturing Market Outlook (2021-2030) ($MN)
Figure 9 Italy Digital Manufacturing Market Outlook (2021-2030) ($MN)
Figure 10 France Digital Manufacturing Market Outlook (2021-2030) ($MN)
Figure 11 Spain Digital Manufacturing Market Outlook (2021-2030) ($MN)
Figure 12 Rest of Europe Digital Manufacturing Market Outlook (2021-2030) ($MN)
Figure 13 Asia Pacific Digital Manufacturing Market Outlook (2021-2030) ($MN)
Figure 14 Japan Digital Manufacturing Market Outlook (2021-2030) ($MN)
Figure 15 China Digital Manufacturing Market Outlook (2021-2030) ($MN)
Figure 16 India Digital Manufacturing Market Outlook (2021-2030) ($MN)
Figure 17 Australia Digital Manufacturing Market Outlook (2021-2030) ($MN)
Figure 18 New Zealand Digital Manufacturing Market Outlook (2021-2030) ($MN)
Figure 19 South Korea Digital Manufacturing Market Outlook (2021-2030) ($MN)
Figure 20 Rest of Asia Pacific Digital Manufacturing Market Outlook (2021-2030) ($MN)
Figure 21 South America Digital Manufacturing Market Outlook (2021-2030) ($MN)
Figure 22 Argentina Digital Manufacturing Market Outlook (2021-2030) ($MN)
Figure 23 Brazil Digital Manufacturing Market Outlook (2021-2030) ($MN)
Figure 24 Chile Digital Manufacturing Market Outlook (2021-2030) ($MN)
Figure 25 Rest of South America Digital Manufacturing Market Outlook (2021-2030) ($MN)
Figure 26 Middle East & Africa Digital Manufacturing Market Outlook (2021-2030) ($MN)
Figure 27 Saudi Arabia Digital Manufacturing Market Outlook (2021-2030) ($MN)
Figure 28 UAE Digital Manufacturing Market Outlook (2021-2030) ($MN)
Figure 29 Qatar Digital Manufacturing Market Outlook (2021-2030) ($MN)
Figure 30 South Africa Digital Manufacturing Market Outlook (2021-2030) ($MN)
Figure 31 Rest of Middle East & Africa Digital Manufacturing Market Outlook (2021-2030) ($MN)
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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