The global DM market in the automotive industry was valued at almost USD 191 million in 2015 and is expected to surpass USD 281 million by 2020, says Technavio.
Technavio has announced its latest market research report on the DM market for the automotive industry during the forecast period, 2016-2020. This market analysis, under the product lifecycle management vertical, discusses the major drivers and key emerging trends that will influence the growth of the global DM market in the automotive industry during the forecast period. Some of the top vendors listed in this industry analysis include Autodesk, Dassault Systèmes, and Siemens PLM Software.
In terms of geographical analysis, APAC will be the largest region in the global market and is expected to reach revenues of close to USD 77 million by 2020. India, China, South Korea, and Japan will emerge as the key revenue-generators.
“The introduction of digitized vehicles with proper connectivity, apps, and infotainment systems will help in the development of the automotive industry. These vehicles use Wi-Fi systems to ensure proper connectivity. Various vendors are investing in the research and development of intelligent electric vehicles to attract more consumers. DM enables smooth testing simulations in driverless mode and helps in reducing the complexity associated with the manufacturing processes of these vehicles,” says Amrita Choudhury, a lead analyst at Technavio for research on
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Benefits associated with the adoption of DM
The use of DM in the manufacturing of automotive components has benefits that help in the improvement of process and boosts performance efficiency of the factory. The application of DM smoothens the flow of product and plant information during different change processes, without losing consistency in product designing. This technology enables simultaneous viewing of machining, tooling information, and 3D information of the product which in turn aids in the validation of robotics and automation programs.
Increased use of DM for improved traceability
Traceability solutions help in solving the issue of reduction or elimination of product recalls. Traceability is the process of verifying the systems or products with the help of well-documented past data. DM helps in the traceability of the manufacturing process, and it collects all the data about the compares it with the production plans, manufacturing process, and warns the management in case of any inconsistency.
High importance of DM in manufacturing
DM is the common link between the facility, production, and product sections. This process enables efficient flow of information between the factory, manufacturing line, and product verticals of a production plant. This technology will smoothen production flow and enable manufacturers to check all inconsistencies on a real-time basis. DM will also aid to identify any issues affecting the product from the root level.
Other prominent vendors identified in this report are Bentley Systems, CAD Schroer, and Open Factory 3D.
This research report includes an in-depth analysis, market shares and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global DM Market in Automotive Industry 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Digital Manufacturing Market 2016-2020
- Global Cloud Product Lifecycle Management Market 2016-2020
- Global DM Market in the Industrial Machinery Sector 2015-2019
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