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Digital manufacturing is an integrated approach to
industrial manufacturing, which is focused on a solid computer system. The
transformation to digital manufacturing has recently become more widespread in
various industries, particularly with the growth in the number and quality of
personal computer systems in modern manufacturing plants. The flexibility of
digital machines allows manufacturers to build more complex machinery that was
once only imagined. Digital technology is also an excellent way to reduce the
cost of manufacturing processes, because there is no need to pay for expensive
raw materials, labor or expertise when using computers to build machines and
other equipment.
Market Dynamics
Increasing adoption of digital manufacturing is expected to
propel growth of the global digital
manufacturing market. For instance, in January 2021, The ZF Friedrichshafen
AG choose Microsoft
and PwC Germany as its strategic partners to build digital manufacturing
platform. Moreover, launch of new systems for digital manufacturing is also
expected to aid in growth of the market. For instance, in November 2020, Dell
Technologies Inc. launched new HPC systems for genomics, digital manufacturing and AI.
Increasing adoption of Internet of Things (IoT) in
manufacturing industries is expected to offer lucrative growth opportunities for
players in the global digital manufacturing market. For instance, in February
2021, Skylo, an end-to-end solution provider, partnered with Beetel, a
technology brand offering contemporary solutions for India’s connectivity and
IT needs, to rapidly scale the adoption of end-to-end Internet of Things (IoT)
solutions to connect the billions of machines and remote assets in hundreds of
industries across India.
Among end-use industries, the automotive segment is expected
to witness decline in the global digital manufacturing market, owing to
decrease in sale of automobiles. For instance, according to the Society of
Motor Manufacturers and Traders, the new car registrations in the U.K.
decreased by 44% in March 2020 compared that in March 2019.
Competitive Analysis
Major players operating in the global digital manufacturing
market include, Autodesk, Dassault Systèmes, Mentor Graphics, Proto Labs, Inc.,
PTC, and Siemens PLM Software.
Major players operating in the global digital manufacturing
market are focused on adopting M&A strategies to expand their product
portfolio. For instance, in January 2021, Proto Labs, Inc. entered into a
definitive agreement to acquire 3D Hubs, Inc. – an online manufacturing
platform that provides engineers with on-demand access to a global network of
approximately 240 premium manufacturing partners.
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