Many manufacturing companies are now adopting digital manufacturing for cost effective green technology solutions. Digital manufacturing aids the design of smaller plants resulting in considerable savings in time, money and resources such as water and electricity. Product life cycle management solutions in particular are rapidly being adopted. According to analysts at TechNavio Research, the digital manufacturing market is expected to reach $1,251.2 million in 2013 growing at an annual rate of 21.8 percent.
Another interesting trend in the manufacturing industry has been the increasing popularity of IT solutions especially in the Asia Pacific region. This trend is visible among SMBs that have been implementing enterprise applications like ERP and SCM to streamline and improve business practices. Manufacturing sectors such as automotive, aerospace and discrete manufacturing have increased their investments in engineering solutions in order to reduce costs and the time to market their new products.
Key market trends in this sector include:
1. Increased competition driving European manufacturers towards online sales and marketing strategies
2. Acquisitions and outsourcing driving increased consolidation in the manufacturing execution systems market
3. RFID expected to play a key future role in supply chain management of the manufacturing industry
4. EU encouraging large manufacturers to shift production to new markets such as Poland, Slovakia and Czech Republic
TechNavio Research extensively covers the manufacturing industry. For a complete list of reports visit https://www.technavio.com/content/manufacturing
Green Technologies Driving Demand for Digital Manufacturing
