The Rise of Industry 4.0 has Created Enhanced Digitalisation, Driving Increased Manufacturing Flexibility, Speed, High Quality Control, Precise Customisation, and Improved Productivity
In today’s competitive environment, companies are striving to use cutting-edge technology to stay ahead of the competition. Digital manufacturing is a subset of Product Lifecycle Management (PLM) and is an integrated approach to use computer technology for simulation, 3D visualization, and analytics to support manufacturing processes and improve the overall product efficiency. Digital manufacturing processes, coupled with digital manufacturing simulation, support process planning, streamlined simulation of operations, and collaborative communication. Digital manufacturing allows manufacturers to effectively plan production, thereby, decreasing production cost in a streamlined fashion.
The concept of PLM has been widely accepted by manufacturers and is considered to be an important approach to product strategy. The proliferation of technologies and their applications within the shop floor processes have created a lot of excitement among the small- and medium-sized manufacturers. The global digital manufacturing market for discrete industries achieved a moderate growth of 7.48% in 2017. It is expected to grow at a CAGR of 8.04%, owing to the rapid pace of technological advancements.
Research Highlights
The market is very competitive and in order to remain competitive, end users demand advanced manufacturing processes to minimize errors and improve product quality and lifecycle. The research aims to identify the various drivers and restraints impacting the digital manufacturing market for discrete industries. The study also provides information on key end users like automotive and transportation, aerospace and defence, heavy machinery, and hi-tech electronics and discusses opportunities for digital manufacturing in these industries. Growth opportunities and actions to capitalise on them have also been included in the study.
Companies such as Dassault Systèmes, Siemens PLM, Autodesk, and PTC dominate the digital manufacturing market in discrete industries. Their strong position in the market is attributed to diverse product portfolios, robust distribution networks, and diverse application coverage. Digital manufacturing applications are likely to increase during the forecast period, owing to companies looking for opportunities to increase profitability by decreasing lead times and improving production efficiency.
Key Issues Addressed
- Is the market growing, how long will it continue to grow, and at what rate?
- How would discrete industries evolve to provide opportunities for digital manufacturing?
- What are the main competitive factors for participants in the market and how is the competitive landscape?
- How will the structure of the market change with time?
- What are the key growth opportunities for market participants and how can they be addressed?
- Which end-user industries have a high growth potential?
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Autodesk
- Dassault Systèmes
- PTC
- Siemens PLM
