Digital Manufacturing Market : Global Opportunity Analysis and Industry Forecast, 2021–2030

The global digital manufacturing market is predicted to grow at a CAGR of 16.5 percent from 2021 to 2030. The use of a computer system to create or construct items is known as digital manufacturing. It employs technologies such as computer-aided design (CAD), computer-aided modelling (CAM), the Internet of Things (IoT), and big data analytics. Digital manufacturing offers benefits like increased productivity, higher quality, lower operating costs, and less repetitive work.

The COVID-19 outbreak had a mixed impact on the growth of the digital manufacturing business, since the COVID-19 lockdown allowed for widespread adoption of modern technologies, allowing projects to continue in a virtual and digital environment even when participants were unable to meet in person. The epidemic has prompted manufacturing businesses to create safer and smarter ways to run smoothly and effectively. The market, on the other hand, was impeded by the lockdown, which limited production activity.

The introduction of IoT technology in the manufacturing industry is mostly driven by effective safety management on production sites. Human resources are one of the most important employers in the sector. Falling objects, weariness, working in dangerous regions, and other factors make these personnel vulnerable to accidents on the job.

The manufacturing business can benefit from artificial intelligence (AI)-based software systems provided by major companies. Autodesk Inc., for example, announced a new set of products for Autodesk manufacturing cloud, a cloud-connected platform for design manufacturing and construction enterprises, in November 2020. Autodesk Build, Autodesk Takeoff, and Autodesk BIM Collaborate were the three products that were released. These are cloud-based and AI-powered systems. All of these events are projected to boost the market's growth.

According to recent trends, the implementation of Industry 4.0 in the automotive and transportation industries has resulted in a higher rate of automobile manufacturing. In today's world, digital manufacturing provides interior suppliers and car manufacturers with the necessary tools and connected gadgets. It gives daily information on fabrication, construction operations, weak links, equipment downtimes, and upcoming duties, reducing vehicle shutdown and maximising vehicle productivity while consuming the least amount of gasoline possible.