DM: Key market research findings
- The Americas dominate the market geographically
- The aerospace and defense segment accounts for a majority of the market’s revenue
- Key vendors – Autodesk, Dassault Systèmes, Mentor Graphics, PTC, and Siemens PLM Software
Technavio’s market research analysts predict the global DM market to grow at a CAGR of over 7% between 2016 and 2020. The increase in adoption of digital manufacturing (DM) is brought about by benefits associated with its adoption. DM helps to speed up the factory manufacturing process, smoothen the flow of product and plant information during various change processes without losing consistency in product designing and makes the implementation of six sigma and lean operation management easier. During 2015, the Americas dominated the global DM market with a market share of around 45%. Rising labor wages and well-established manufacturing sectors such as automotive and automotive part manufacturing are factors that will fuel growth in the DM market in Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the DM segments based on the end-user.
“Of late, there has been an increase in the adoption of DM-based mobile applications. DM-specific mobile applications increase the mobility and ease of use of DM software from different locations. Major players in the product life cycle management (PLM) industry are expected to provide DM-specific mobile applications to cater to the growing demand. Manufacturing 360 and Technomatix 360 by Siemens are examples of such DM-specific mobile applications,” says Amrita Choudhury, Lead Analyst, ICT, Technavio Research.
The aerospace and defense segment dominated the global DM market in 2015 with a market share of more than 26%. DM helps to simulate a virtual environment and prototypes for the manufacturing setup, with which designers can rectify issues related to design, manufacturing, and maintenance in the early stages. It also helps in the manufacture of parts and components used in the aerospace industry as per the production schedule according to supplier specifications.
The key vendors in the global DM market include Autodesk, Dassault Systèmes, Mentor Graphics, PTC, and Siemens PLM Software. Characterized by the presence of a large number of PLM software vendors, the digital manufacturing market appears to be fragmented. Major vendors such as Autodesk, Dassault Systèmes, Mentor Graphics, PTC, and Siemens dominate the market. All vendors compete to gain a considerable share of the market, and they have started to focus on enhancing their market potential through various innovative strategies and M&As.
A more detailed analysis is available in the Technavio report, Global DM Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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