PUBLISHER: Allied Market Research | PRODUCT CODE: 1414920
PUBLISHER: Allied Market Research | PRODUCT CODE: 1414920
According to a new report published by Allied Market Research, titled, "Digital Manufacturing Software Market," The digital manufacturing software market was valued at $6.9 billion in 2022, and is estimated to reach $33.7 billion by 2032, growing at a CAGR of 17.4% from 2023 to 2032.
The rising use of technological advancements and industry 4.0 and the increase in complexity and globalization of supply chains are boosting the growth of the global digital manufacturing software market. In addition, the growing demand for improved operational efficiency and cost reduction positively impacts the growth of the digital manufacturing software market. However, the high cost of implementation, increasing security concerns, and data privacy hamper the digital manufacturing software market growth. On the contrary, increasing priority for sustainable manufacturing techniques is expected to offer remunerative opportunities for the expansion of the digital manufacturing software market during the forecast period.
The digital manufacturing software market is segmented by component, deployment mode, enterprise size, application, and region. In terms of component, the market is fragmented into solution and service. Depending on deployment mode, it is bifurcated into on-premise and cloud. As per enterprise size, the market is divided into large enterprise, and small and medium enterprises. In terms of application, the market is segmented into automotive & transportation, aerospace & defense, consumer electronics, industrial machinery, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the digital manufacturing software market analysis are Autodesk Inc., Intel Corporation, Microsoft Corporation, Oracle Corporation, Rockwell Automation Inc., SAP SE, Schneider Electric SE, General Electric Co., Siemens AG, and IBM Corporation. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
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