Manufacturing News

Global digital manufacturing set to boom over the next decade

 

According to a report by Frost & Sullivan, global digital manufacturing earned revenues of $704.2 million in 2012 and is estimated to reach $928.0 million in 2016.

The research covers applications in automotive and transportation, aerospace and defence, hi-tech and electronics and industrial machinery.

Digital manufacturing, a good means of streamlining production planning and improving manufacturing efficiency, has emerged mainly in developed economies. North America is expected to take most advantage of the growth potential, while Europe deals with the on-going economic crisis.

Karthik Sundaram, Frost & Sullivan Industrial Automation and Process Control Senior Research Analyst said in a statement, "The quest to reduce capital expenditure, shorten lead times, and boost productivity is expected to spur investments in digital manufacturing."

"The heightened emphasis on product innovation will catalyse enterprises to cultivate the digital manufacturing path for ensuring consistent business profitability."

At present, the digital manufacturing pursuit is more aligned toward large enterprises. Small and medium businesses do not achieve adequate return-on-investments when they adopt digital manufacturing.

Nevertheless, the trend towards product innovation across all end-user segments will boost market prospects. Besides product design, the ability of manufacturers to generate new products is greatly determined by manufacturing process planning.

"Digital manufacturing provides an able platform for discrete manufacturers to design and validate their manufacturing process in line with new product design and engineering requirements," concluded Sundaram.

"This helps in considerable savings on costs incurred by the trial-and-error method that is popularly followed in the manufacturing landscape today."

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