Product ID: UCMIG45B2003
Digital Manufacturing Market Size, Share, Growth Analysis, By Component(Hardware, RFID Tags), By Technology(Robotics, 3D Printing), By Application(Automotive and Transportation, Aerospace and Defense), By REGION(North America, U.S.) - Industry Forecast 2024-2031
Report ID:
UCMIG45B2003 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
Digital Manufacturing Market Insights
Market Overview:
The increasing growth of the market is a result of the increasing implementation and acceptance of Industry 4.0. The rise of automation and software-based processes has increased market share. Smart technologies have been able to provide the global market with real-time analytics and synchronization that help reduce costs and save time. The market is directly proportional to the technological development, where both grow together.The emerging trend of digitalization coupled with the increasing adoption of Product Lifecycle Management (PLM) systems are the key factors driving the growth of the market. PLM is a cloud-based digital manufacturing solution that helps manage complex product information. , manufacturing operations, product development and collaborations while providing remote access to government agencies. Additionally, improving a product through low-cost manufacturing also contributes to faster product launch and high revenue generation. The implementation of IoT in the manufacturing industry helps to detect errors early, further reducing bugs and errors, which in turn reduces the number of products returned to the company.
Digital Manufacturing Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the IT Consulting & Other Services by segment aggregation, the contribution of the IT Consulting & Other Services in Software & Services and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
Digital Manufacturing Market Report Snapshots
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