Digital Manufacturing Market Business Growth Statistics and Key Players Insights Autodesk, Dassault Systèmes, Mentor Graphics, PTC, and Siemens PLM Software

Digital manufacturing is a process of improving the manufacturing process of the product from virtual to physical world. Increasing adoption of cloud-based digital manufacturing software is one of the key factor driving market growth. Venders are concentrating on reducing the cost of Product Lifecycle Management (PLM), thereby trying to introduce cloud-based product lifecycle solutions in the market. Several PLM service providers are installing PLM on the cloud for end users. For instance, Wipro Limited, a worldwide information technology, outsourcing, and consulting firm, is offering cloud-based PLM services to Siemens PLM Software solution, Teamcenter. Such services help electronics manufacturing organizations to install Teamcenter on the cloud with the help of Infrastructure as a Service.

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North America held the dominant position in the global digital manufacturing market in 2016 and is projected to retain its dominance throughout the forecast period. The U.S., Mexico, and Canada are the three major economies, which contribute to the swift growth of market in the region. The increasing R&D investment in the aerospace & defense and automotive sectors in the U.S provides immense growth opportunity to the digital manufacturing market.

In 2016, the U.S invested US$ 14.3 billion in R&D in aerospace & defense industry up from US$ 14.1 billion in 2015. Similarly, for R&D in automotive sector, the U.S. spent US$ 39.6 billion in 2016 up from US$ 37.5 billion in 2015. Moreover, the Asia Pacific digital manufacturing market is projected to grow the highest CAGR over the forecast period. Increasing demand for innovative products among end users segments boosted the growth of market in this region. India, China, and Japan are some of the major economies driving the growth of digital manufacturing market in this region.

Some of the key players operating in the global digital manufacturing market include Autodesk, Dassault Systèmes, Mentor Graphics, PTC, and Siemens PLM Software. The new product launch is one of the major strategies for the market leaders to increase their market presence. For instance: Autodesk Inc. an America based software company have officially announced that they have launched a Netfabb 2017, a comprehensive toolkit for additive manufacturing professionals

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