Digital Manufacturing Market Overview
[PDF] Digital manufacturing is the use of integrated computer systems for manufacturing products that include 3D visualization, simulation, analytics, and collaboration tools. Spatial’s SDKs are the most advanced digital tool in digital manufacturing and provide all the data libraries required for cutting-edge 3D modelling functionality.
Adoption of digital technologies has driven the digital manufacturing market's growth. Digital manufacturing technologies are used for stimulating and modelling processes to optimize and help businesses speed up production, reduce operating costs, and improve cohesion between various stages of the manufacturing process.
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Attributes |
Details |
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Digital Manufacturing Market Value (2022) |
US$ 436.8Bn |
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Digital Manufacturing Market Projected Value (2032) |
US$ 1907.9Bn |
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Digital Manufacturing Market CAGR (2022 – 2032) |
15.0% |
Digital Manufacturing Market Dynamics
Adoption of Digital Technologies and Smart Wearable Devices
Adoption of digital technologies and smart wearable devices has become a major factor in the growth of the digital manufacturing market. Fatal injuries in manufacturing industries have given rise in demand for smart wearable devices. Digital technologies such as the Internet of Things (IoT), AI (artificial intelligence), and machine learning with smart wearable devices such as smart helmets, smart glasses, safety vests, and wearable sensors enable real-time safety management at sites and during the manufacturing process for workers.
Further, Kinetic Company has announced the findings of a new report by Perr and Knight (US-based actuarial consulting firm), which found that use of Kinetic Reflex technology helps to reduce injury frequency by 50%–60% and lost workdays by 72%.
Technological Advancement
Industries like automotive, aerospace, construction, manufacturing, transportation, etc., are growing rapidly. Technology has opened new opportunities to meet consumer demands with new trends in digital tools for industrial use. Robotics and automation actuators are widely used in the manufacturing industry to help reduce scrap and waste with improved accuracy, operate around the clock, perform tasks faster and more efficiently, and increase product efficiency. These advantages have increased productivity in the manufacturing process in industries, which has contributed significantly to the growth of the digital manufacturing market.
For instance, in July 2022, IIT (Indian Institute of Technology, Madras) Madras launched the new Smart Manufacturing and Digital Transformation Centre (SMDTC) to create major elements for manufacturing execution systems, databases, and manufacturing intelligence software platforms and the Industrial Internet of Things (IIoT) for Indian MSMEs (Ministry of Micro, Small, and Medium Enterprises) to adopt Industry 4.0 practices in robotics, machining dynamics control automation, and process intelligence.
Restrains:
The Digital Manufacturing market growth is hampered by increased security threats in connected devices. However, high cost of internet and lack of internet connection in underdeveloped countries due to poverty, lack of electricity, lack of digital skills, and geographical challenges has hindered the digital manufacturing market growth.
Further, according to the International Year of Basic Sciences for Sustainable Development report, around 90% of citizens lack internet connectivity in low and middle-income countries, and according to the UN’s International Communication Union, around 2.9 billion people—over one third of the world’s population—have never used the internet. These people are found mostly in South Asia, East Asia, the Caribbean, Africa, and the Pacific Islands.
Digital Manufacturing Market Segmentation
Digital Manufacturing Market is segmented based on Component, Technology, Application and Region.
Component Insight
On the basis of Component, Digital Manufacturing Market is segmented into Hardware, Software & Services. Software and services are expected to dominate the target market growth due to the rapid adoption of software in manufacturing industries with SaaS-based (Software as a Service) technologies to streamline manufacturing processes.
Further, CMMS (Computer Assisted Maintenance Management) software allows the company to manage its interventions, planning, maintenance solutions, and equipment. The new emergence of SaaS software developed in industry 4.0 is expected to fruitful the market.
Technology Insights
On the basis of Technology, Digital Manufacturing Market is segmented into 3D Printing, Robotics, Internet of Things (IoT), and Others. The Internet of Things (IoT), is expected to dominate target market growth by allowing factory managers to automatically collect and analyze data in order to make better decisions and optimize production.
For instance, in 2019, IDC (International Data Corporation) has determined the manufacturing segment’s investment of close to $200 billion in IoT spending which is twice as much as the consumer IoT segment.
Application Insights
On the basis of Application Digital Manufacturing Market is segmented into Aerospace & Defense, Automotive & Transportation, Industrial Machinery, Consumer Electronics, and Others. Industrial machinery is expected to dominate target market growth because, as productivity increases innovative technology makes industrial machinery more efficient and desirable.
Regional Insights:
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
On the basis of region the Digital Manufacturing Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market is estimated to witness a significantly high revenue share over the forecast period, owing to the implementation of AI (artificial intelligence) and IoT (internet of things) in manufacturing sectors like automotive and transportation industries and technological advancement is anticipated to increase demand for digital manufacturing market in the region.
Europe is the second largest growing region in the Digital Manufacturing Market due to high government support for digitization and innovative technologies in the IoT, edge computing, and others. For instance, in June 2020, Parrot Company (the leading European drone group) launched a new drone, "ANAFI USA," for 3D mapping and aerial surveying for manufacturing purposes which is expected to boost the Digital Manufacturing Market growth.
Asia Pacific is expected to show highest CAGR in the Digital Manufacturing Market due to rising adoption of digital technologies, rapid growth in urbanization, a rise in construction projects, increasing government initiatives like the rapid transformation hub (SAMARTH) and Udyog Bharat 4.0 in India, and an increase in use of robotics and automation in manufacturing industries, which are anticipated to foster the growth of Asia Pacific in the digital manufacturing market.
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Attribute |
Details |
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Base year for estimation |
2022 |
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Forecast period |
2022 – 2032 |
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Market representation |
Revenue in USD Billion & CAGR from 2022 to 2032 |
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Market Segmentation |
By Component - Hardware, Software & Services By Technology - 3D Printing, Robotics, Internet of Things (IoT), and Others By Application - Aerospace & Defense, Automotive & Transportation, Industrial Machinery, Consumer Electronics, and Others |
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2022 to 2032. For the purpose of this study, has segmented the Digital Manufacturing Market report based on Component, Technology, Application and Region.
Digital Manufacturing Market, By Component:
- Hardware
- Software & Services
Digital Manufacturing Market, By Technology:
- 3D Printing
- Robotics
- Internet of Things (IoT)
- Others
Digital Manufacturing Market, By Application:
- Aerospace & Defense
- Automotive & Transportation
- Industrial Machinery
- Consumer Electronics
- Others
Digital Manufacturing Market, By Region:
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- North America
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- U.S.
- Canada
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- Europe
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- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
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- Asia Pacific
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- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
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- Latin America
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- Brazil
- Mexico
- Rest of Latin America
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- Middle East & Africa
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- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
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- North America
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Recent Development:
- In February 2023, Dixit Systems launched "Innovana3D," a SaaS-based software to create value and transform the quote generation, order management, and sales platform for manufacturing service providers with an intuitive and visually rich user interface.
- In May 2022, Google announced the new manufacturing solutions that are designed for manufacturer’s needs to ensure they can scale their digital transformation efforts in production. The solutions are Manufacturing Connect, which connects quickly with any manufacturing asset by leveraging an extensive library of 250-plus machine protocols, and Manufacturing Data Engine, which is designed to contextualize and store factory data.
- In May 2022, Qualcomm launched the advanced development of smarter and safer autonomous robots for Industry 4.0, logistics, and urban aerial mobility with next-generation 5G and Al Robotics Solutions. Newly advanced development will enable more intelligent, productive, and advanced connected robots and intelligent machines for improving business operations, fueling innovation, and enhancing manufacturing productivity.
- In November 2021, Siemens launched a new open Industrial Edge Ecosystem across manufacturer app stores for industrial customers. The company’s Industrial Edge Ecosystem enables the scalable deployment of IT technologies and apps in the production environment.
Digital Manufacturing Market Key Players
The key players operating the Digital Manufacturing Market includes,
- Siemens AG
Siemens AG, a technology company focused on industries, transport, infrastructure, and healthcare, it provides new opportunities and choices for industrial companies worldwide. In September 2022, Siemens launched its open digital business platform "Siemens Xcelerator" in India.
- Dassault Systems
Dassault Systems offers 3D design software, product lifecycle management (PLM), and 3D digital mock-up products. The company has launched "SOLIDWORKS 2021" in India to expand its portfolio.
- Tata Consultancy Services
Tata Consultancy Services offers services such as data analytics, cloud computing, enterprise solutions, sustainability services, IoT and digital engineering, and others.
- Autodesk Inc.
Autodesk Inc. offers products such as Revit, AutoCAD, Fusion 360, Maya, and SketchBook, which are used by over 100 million people. The company’s software runs on mobile devices and personal computers.
- Parametric Technology Corporation, Inc.
Parametric Technology Corporation, Inc., offers products such as AR (augmented reality), IoT (the internet of things), and collaboration software. The company also offers services such as business training and consulting.
- SAP SE
SAP SE manufacturing cloud solutions help customers to take advantage of industrial IoT (the Internet of Things) by connecting people, equipment, and operations across the expanded digital supply chain and tightly integrating manufacturing with business operations.
- Cogiscan Inc.
Cogiscan Inc. offers the most comprehensive plug-and-play solution by covering all levels of the manufacturing IT landscape, including shop floor control, connectivity, and MES/MOM (manufacturing execution). The company offers solutions for the electronics manufacturing industry.
- 3D Systems Inc.
3D Systems, Inc., offers a new 3D printing solution for jewelry manufacturing. The company’s new project, MJP 2500W Plus, produces approximately 100% casting patterns in an hour with a 2x improvement in the vertical solution with "ZHD" printing mode, which enables a smooth casting pattern and requires less manual polishing by minimizing precious metal waste.
- Stratasys Ltd.
Stratasys Ltd., provides a complete polymer 3D printing solution for each stage of the product lifecycle, including design, manufacturing, and healthcare. The company’s Nylon 12 CF and ULTEM 1010 resin products are durable and strong 3D printing materials.
- CIMPA PLM Services
CIMPA PLM Services is specialized in digital transformation, PLM (Product Lifecycle Management) consulting and services, support and training, smart manufacturing, the Internet of Things, industries 4.0, digital continuity, the digital twin, and other related services.
Digital Manufacturing Market Company Profile
- Siemens AG*
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Dassault Systems
- Tata Consultancy Services
- Autodesk Inc.
- Parametric Technology Corporation Inc.
- SAP SE
- Cogiscan Inc.
- 3D Systems Inc.
- Stratasys Ltd.
- CIMPA PLM Services
“*” marked represents similar segmentation in other categories in the respective section
Digital Manufacturing Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Preview
- Executive Summary
- Key Findings—Global Outlook for medical carts Strategies
- Key Questions this Study will Answer
- Market Snippet, By Component
- Market Snippet, By Technology
- Market Snippet, By Application
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restrains
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Digital Manufacturing Market, By Component
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Hardware
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Software & Services
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Digital Manufacturing Market, By Technology, 2022 – 2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- 3D Printing
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Robotics
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Internet of Things (IoT)
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Others
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Digital Manufacturing Market, By Application, 2022 – 2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Aerospace & Defense
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Automotive & Transportation
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Industrial Machinery
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Consumer Electronics
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Others
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Digital Manufacturing Market, By Region, 2022 – 2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Regional Trends
- North America
- Market Size and Forecast (US$ Bn), By Component, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Technology, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Application, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Bn), By Component, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Technology, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Application, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- UK
- France
- Germany
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Bn), By Component, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Technology, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Application, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- India
- Japan
- South Korea
- China
- Rest of Asia Pacific
- Overview
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- Latin America
- Market Size and Forecast (US$ Bn), By Component, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Technology, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Application, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- Latin America
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- Brazil
- Mexico
- Rest of Latin America
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- Middle East & Africa
- Market Size and Forecast (US$ Bn), By Component, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Technology, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Application, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
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- GCC
- Israel
- South Africa
- Rest of Middle East
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- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
- Siemens AG
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Dassault Systems
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Tata Consultancy Services
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Autodesk Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Parametric Technology Corporation Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- SAP SE
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Cogiscan Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- 3D Systems Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Stratasys Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- CIMPA PLM Services
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- The Last Word
- Future Impact
- About Us
- Contact
FAQs
The Digital Manufacturing Market is segmented into component, technology, application, and region.
Digital Manufacturing Market is driven by factors like adoption of digital technologies & smart wearable devices and technological advancement.
By region, the Digital Manufacturing market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market is estimated to witness a significantly high revenue share over the forecast period.
The key players operating the Digital Manufacturing Market includes, Siemens AG, Dassault Systems, Tata Consultancy Services, Autodesk Inc., Parametric Technology Corporation Inc., SAP SE, Cogiscan Inc., 3D Systems Inc., Stratasys Ltd., CIMPA PLM Services, and others.
Digital Manufacturing Market accounted for US$ 436.8 billion in 2022 and is estimated to be US$ 1907.9 billion by 2032 and is anticipated to register a CAGR of 15.0%.