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Digital Manufacturing Market Cost Profit Analysis of Autodesk, Dassault Systèmes, Mentor Graphics, PTC and Siemens PLM Software
Digital Manufacturing
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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
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.
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Digital Manufacturing Market Outlook – North America holds the largest market share
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.
Moreover, the Asia Pacific digital manufacturing market is projected to grow the highest CAGR over the forecast period. Increasing demand for innovative products among end users segments boosted the growth of market in this region. India, China, and Japan are some of the major economies driving the growth of digital manufacturing market in this region.
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
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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Coherent Market Insights
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