Global Digital Manufacturing Software Market by Product Types, Revenue Sources, Applications, and Regions — Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026.
The global digital manufacturing software market was valued at USD 5.4 billion in 2019 and is expected to reach USD 12.6 billion by 2026, expanding at a CAGR of around 11.12% during the forecast period, 2020–2026. Digital manufacturing software uses a unified computer-based system comprising of replication, 3D visualization, analytics and collaboration tools to generate product and manufacture process definitions instantaneously.
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Digital manufacturing evolved from manufacturing initiatives such as design for manufacturability, computer-integrated manufacturing, flexible manufacturing and lean manufacturing that highlight the need for collaborative product and process design.
Digital manufacturing systems integrate optimization capabilities to reduce time, cost, and improve the efficiency of most processes. These systems improve optimization of floor schedules, production planning, and decision making. The system analyzes feedback from manufacturing such as deviations or problems in the manufacturing system, and generates solutions for handling them.
Market Trends, Drivers, Restraints, and Opportunities:
- Increasing productivity and planning in process-based industries, in turn, is driving the growth for the market
- There is an increase in use of digital manufacturing software in aerospace and defense sector especially in drone technology manufacturing.
- Increased utilization of cloud-based product lifecycle management in organizations, has fueled the need for digital manufacturing software globally.
- This technology requires a high investment and funding initially, which is one of the key restraints of digital manufacturing software market.
- Government has increased its funding in digital manufacturing software for innovation purposes. This is a positive growth and one of the major factors that fuels the growth of the market over the forecast period.
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Competitive Landscape:
Major companies in the global digital manufacturing software market are moderately fragmented. Major companies include Dassault Systems, Mentor Graphics, Autodesk, Siemens PLC Software, PTC, Oracle, Cogiscan, Demand Management Inc. and IBM Corporation.
The global digital manufacturing software market has been segmented on the basis of
Product Types
- Product Design Software
- Process Design Software
- Enterprise Resource Planning
Revenue Sources
- Software
- Services
Applications
- Defense Sector
- Aerospace
- Automotive & Transportation
- Consumer Electronics
- Utilities & Processes
- Industrial Machinery Sector
Regions
- Asia Pacific
- Europe
- North America
- Middle East & Africa
- Latin America
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Table of Contents
- Executive Summary
- Assumptions and Acronyms Used
- Research Methodology
- Digital Manufacturing Software Market Overview
- Global Digital Manufacturing Software Market Analysis and Forecast by Type
- Global Digital Manufacturing Software Market Analysis and Forecast by Application
- Global Digital Manufacturing Software Market Analysis and Forecast by Sales Channel
- Global Digital Manufacturing Software Market Analysis and Forecast by Region
- North Digital Manufacturing Software Market Analysis and Forecast
- Latin Digital Manufacturing Software Market Analysis and Forecast
- Europe Digital Manufacturing Software Market Analysis and Forecast
- Asia Pacific Digital Manufacturing Software Market Analysis and Forecast
- Middle East & Africa Digital Manufacturing Software Market Analysis and Forecast
- Competition Landscape
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