EIN PRESSWIRE

Digital Manufacturing Market Worth $1,370.3 Billion by 2030, Growing at a CAGR of 16.5% from 2021 to 2030

Digital Manufacturing Market Worth $1,370.3 Billion by 2030, Growing at a CAGR of 16.5% from 2021 to 2030 1

Efficient safety management on manufacturing sites is a major driving factor for the implementation of IoT technologies in the manufacturing industry.

PORTLAND, OR, UNITED STATES, August 10, 2021 /EINPresswire.com/ — Digital manufacturing is an integrated approach to manufacture or construct products using a computer system. It uses computer aided design (CAD), computer aided modeling (CAM), Internet of Things (IoT), and Big data analytics concepts. Digital manufacturing has features such as maximized productivity, improved quality, reduced operating costs, and limited repetitive work.

“Digital manufacturing market by component, technology, application, and region: global opportunity analysis and industry forecast, 2021–2028,” the digital manufacturing market size was valued at $0.27 trillion in 2020 and is projected to reach $1.30 trillion by 2030, registering a CAGR of 16.5% from 2021 to 2030.

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Top 10 Leading Players

Dassault Systemes
Tata Consultancy Services
Siemens AG
Autodesk Inc
Hexagon AB
Parametric Technology Corporation Inc
SAP SE
ARAS Corporation
Cogiscan Inc
Bestplant

Covid-19 Impact Analysis

COVID-19 pandemic halted manufacturing facilities for a short-term, owing to prolonged lockdowns applied in countries such as the U.S., India, and China. In addition, COVID-19 pandemic has shut-down construction activities, owing to prolonged lockdowns in major countries such as the U.S., China, Japan, India, and Germany. This hampered growth of the digital manufacturing market significantly in 2020. Further, this pandemic situation directly impacted sales of digital manufacturing companies. For instance, sales of Siemens AG dropped by 34.2% from January 2019 to January 2020.

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Key Market Segments

By Component

Hardware

RFID Tags
Sensor
Intelligent System
Others

Software

Data and Operation Management Software
Safety and Security Systems
Connectivity solutions
Analytics Solutions
Remote Management & logistic solutions
Asset Management Solutions

Services

Support and maintenance
System Integration
Consulting Services

By Technology

Robotics
3D Printing
Internet of Things (IoT)
Others

By Application

Automotive and Transportation
Aerospace and Defense
Consumer Electronics
Industrial Machinery
Others

By Region

North America
Europe
Asia-Pacific
LAMEA

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David Correa
Allied Analytics LLP
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Digital Manufacturing Market Worth $1,370.3 Billion by 2030, Growing at a CAGR of 16.5% from 2021 to 2030 2