Digital Manufacturing Market Expected to Reach USD 1.30 Trillion by 2030, Registering a CAGR of 16.5%

The global digital manufacturing market has experienced robust growth over the past decade, driven by the efficiency and safety benefits of digital solutions, enhanced productivity, and the need to address labor shortages in manufacturing. However, security risks in connected devices are expected to restrain market growth. Meanwhile, the increasing adoption of robotics and resource optimization through IoT and big data present promising opportunities for the market. According to a recent report by Allied Market Research titled "Digital Manufacturing Market by Component, Technology, Application, and Region: Global Opportunity Analysis and Industry Forecast, 2021-2028,"

the market was valued at $0.27 trillion in 2020 and is projected to reach $1.3 trillion by 2030, growing at a CAGR of 16.5% from 2021 to 2030. Digital manufacturing integrates advanced technologies like machine learning and robotics into production sites to maximize productivity and resource management, leveraging tools such as sensors, RFID tags, augmented reality, and virtual reality to enhance safety and efficiency.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐏𝐃𝐅 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲:
https://www.alliedmarketresearch.com/request-sample/A11759

In 2020, North America held the largest share of the digital manufacturing market, mainly due to a high adoption rate of smart technologies. Additionally, China's Ministry of Industry and Information Technology issued 5G licenses in 2019, enabling efficient data interaction on manufacturing sites with capabilities in health monitoring, security, and AI functions.

Fleet management has become crucial in manufacturing for reducing equipment downtime, managing fuel consumption, and real-time monitoring. This trend, combined with advancements in software solutions, allows manufacturers to optimize risk management and cut costs. For instance, integrating IoT in manufacturing enhances sustainability, safety, and profitability across industries such as automotive and defense.

Key players like Siemens AG and Bestplant are employing strategies like acquisitions and product launches to enhance their digital manufacturing offerings. For example, in April 2019, Siemens AG acquired Mendix Inc., a U.S.-based provider of digital solutions for manufacturing, for approximately $703.1 million to expand its digital manufacturing portfolio.

The COVID-19 pandemic temporarily disrupted manufacturing and construction activities due to lockdowns, particularly in the U.S., China, Japan, India, and Germany, significantly impacting the digital manufacturing market. For instance, Siemens AG reported a 34.2% drop in sales from January 2019 to January 2020 due to the pandemic.

Market Segmentation
The digital manufacturing market is segmented by component, technology, application, and region. By component, segments include hardware (RFID tags, sensors, intelligent systems), software (data management, security systems, connectivity, analytics, remote management), and services (support, system integration, consultancy). The technology segment includes robotics, 3D printing, IoT, and others. Applications span automotive and transportation, aerospace and defense, consumer electronics, industrial machinery, and other industries.

Regionally, the analysis covers North America (U.S., Canada, Mexico), Europe (Germany, UK, Italy, France, others), Asia-Pacific (China, India, Japan, Australia, others), and LAMEA (Latin America, Middle East, Africa).

𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭 𝐖𝐢𝐭𝐡 𝐓𝐎𝐂:
https://www.alliedmarketresearch.com/digital-manufacturing-market-A11759

Key Findings of the Study
The report offers detailed insights into emerging digital manufacturing trends and dynamics.
The hardware segment led in revenue generation by component in 2020.
The IoT technology segment generated the highest revenue by technology in 2020.
The industrial machinery application segment accounted for the highest revenue in 2020.
North America is expected to maintain dominance in digital manufacturing market share during the study period.
The report includes an in-depth forecast of the digital manufacturing market from 2021 to 2030, with detailed trend analysis and emerging opportunities in the digital manufacturing industry.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry

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