The manufacturing industry is firmly on the road to recovery after the recession. The post-recession environment is seeing increased competition with companies looking at new ways to innovate.
Analysts at TechNavio Research believe that IT services may be the silver bullet for manufacturing companies looking at sustainable business advantages and profitability.
They expect the APAC region to be the new nerve center for the Engineering Services Industry.
With the rest of the world seeing a slack, the APAC region has stood out with its steadily growing manufacturing market. Thanks to its low cost advantage, this region will continue to attract global IT companies in the near future say the researchers.
Top Drivers for IT Services in Manufacturing
Volatile markets, lower time to market and higher product variability will make innovation with IT services necessary
3D CAD in particular has becoming increasingly popular with small and large companies alike adopting these solutions. The market for 3D CAD is expected to reach $4.9 billion in 2013.
In a recent survey by TechNavio almost 50% of the respondents predicted an annual growth of more than 10% for the global 3D market
India emerging as one of the fastest growing automotive markets in the world with its high disposable income and huge population
TechNavio Research extensively covers the Engineering Services Industry. For a complete list of reports and for more information visit https://www.technavio.com/content/reports-cad-cam-and-cae
