Christy Publications Digital Manufacturing Market | Page 2

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.
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.
Browse detail market insights:
https://www.coherentmarketinsights.com/ongoing-insight/digital-manufacturing-market-652
Digital Manufacturing Market Outlook – North America holds the largest market share
On the basis of geography, global digital manufacturing market is segmented into North
America, Europe, Asia Pacific, Latin America, 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
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. In 2016, the U.S invested 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. Moreover, the Asia Pacific digital manufacturing market is projected to grow the highest