TechNavio recognizes the following companies as the key players in the Global Manufacturing IT Spending Market: Dell Inc., Hewlett-Packard Co., IBM Corp., and Microsoft Corp.
Commenting on the report, an analyst from TechNavio’s team said: “The Manufacturing industry is largely focusing on increasing the overall quality of its products. The latest trend in this direction has been wide usage of advanced materials to increase the tensile strength, reduce the wear and tear, and impart more flexible movement to the products. Embedding advanced materials in existing product materials necessitates a calibration and feasibility test, which requires extensive usage of IT. IT usage reduces the wastage cost to a large extent and helps in speeding up the decision-making process. The reason for the wide usage of advanced materials in the product design is the customized client requirements, which will lead to better growth prospects in the coming years.”
According to the report, one of the major drivers is the need to establish robust infrastructure. Manufacturers are increasing their market share by building robust IT infrastructure, which enables them to reduce the overall cost of production and increase their learning curve in terms of product quality, process management, and product development.
Further, the report states that one of the key challenges is the highly volatile consumer demand. Since IT spending by manufacturing industries is allocated in terms of a fixed percentage of their annual sales, any decline in sales results in tight control of IT spending by manufacturers. The consumer demand has been highly volatile in the last few years, reflecting the ambiguous mood of the market. Manufacturers are therefore compelled to curb their IT spending for the coming financial years
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-manufacturing-it-spending-market-…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/it-hardware-software-services
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TechNavio Announces the Publication of its Research Report -Global Manufacturing IT Spending Market 2012-2016
