Digital Manufacturing Market

Market Overview 2023-2028:

The global digital manufacturing market size reached US$ 424.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,134.3 Billion by 2028, exhibiting a growth rate (CAGR) of 16.73% during 2023-2028.

Digital manufacturing can be defined as the process of developing products virtually in the form of digital prototypes using a Computer-Aided Design (CAD) software. The software is often integrated with 3D visualization, simulation, analytics and collaboration tools to streamline the manufacturing processes. Digital manufacturing solutions are also used to perform various factory-related functions, including tooling, machining, assembly sequencing and designing plant layouts. They also connect operators with smart machines, tools and sensors to gather production data, monitor inventory in real-time and facilitate accurate testing. Owing to this, it finds extensive application across various industries, such as electronics, automotive, aerospace and defense.

Digital Manufacturing Market Trends:

The emerging trend of digitalization, along with the increasing adoption of product lifecycle management (PLM) systems, represent as the key factors driving the growth of the market. The PLM is a cloud-based digital manufacturing solution that aids in managing complex product information, manufacturing workflows, product engineering and collaborations while offering remote access to the authorities. Furthermore, the thriving automotive industry is also creating a positive outlook for the market. Automotive manufacturers are incorporating digital manufacturing solutions in their assembly lines to increase design capabilities and to adopt sustainable production methods. Additionally, the development of technologically advanced and innovative digital manufacturing tools is providing a significant boost to the market growth. These tools offer direct connectivity with the shop-floor hardware and platforms that can manage data from both the PLM and manufacturing execution systems. Other factors, including the implementation of the Internet of Things (IoT) and robotics to detect errors in the early stages of manufacturing, along with the extensive research and development (R&D) in the field of production technologies, are projected to drive the market further. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global digital manufacturing market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, process type and application.

Breakup by Component:

• Software
• Services
   

Breakup by Process Type:

• Computer-Based Designing
• Computer-Based Simulation
• Computer 3D Visualization
• Analytics
• Others
   

Breakup by Application:

• Automation and Transportation
• Aerospace and Defense
• Consumer Electronics
• Utilities and Processes
• Industrial Machinery
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Autodesk Inc., Bentley Systems, Incorporated CAD Schroer GmbH, Dassault Systemes S.A., Mentor Graphics Corporation, Siemens Aktiengesellschaft and PTC Inc.

Report Coverage: