LONDON--(EON: Enhanced Online News)--Technavio analysts forecast the global digital manufacturing (DM) market in the automotive industry to grow at a CAGR of more than 8% during the forecast period, according to their latest report.
“The major solution for the reduction or elimination of product recalls is traceability. Traceability is the process of verifying the systems or products with the help of well-documented past data. One of the major factors that drives the market for DM is its role in traceability in manufacturing processes”
The research study covers the present scenario and growth prospects of the global DM market in the automotive industry for 2016-2020. The report covers the geographical segmentation of the market based on the revenue generated from the adoption of DM software. Geographical regions considered in the report include the Americas, APAC, and EMEA.
Amrita Choudhury, a lead analyst at Technavio for product lifecycle management (PLM) research, says, “The Americas will remain the largest revenue contributor to the global market until 2020. Automation and robotizing of manufacturing plants and technologies such as nanotechnology and Big Data will be the major trends during the forecast period in the automotive industry in the Americas.”
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Technavio analysts highlight the following three factors that are contributing to the growth of the global DM market in the automotive industry:
- Benefits associated with the adoption of DM
- Increased use of DM for improved traceability
- High importance of DM in manufacturing
Benefits associated with the adoption of DM
One of the major factors that drive the DM market is the benefits associated with the use of DM. Some of the major benefits are:
- Helps to smoothen the flow of product and plant information during different change processes, without losing consistency in product designing
- Machining and tooling information and 3D information of the product can be viewed simultaneously
- The simulation features in DM help in the validation of robotics and automation programs
- Helps to speed up the factory manufacturing process
- Makes the implementation of Six Sigma and other lean operation management easier
Increased use of DM for improved traceability
“The major solution for the reduction or elimination of product recalls is traceability. Traceability is the process of verifying the systems or products with the help of well-documented past data. One of the major factors that drives the market for DM is its role in traceability in manufacturing processes,” says Amrita.
DM collects all the data about the manufacturing process, compares it with the production plans, and warns the management in case of any inconsistency. It also provides detailed data about the list of operations performed using a particular part and the products made using that part. This helps to identify any issues affecting the product from the root level.
High importance of DM in manufacturing
DM is an inevitable part of manufacturing as it acts as a common link between the facility, production, and product sections. It integrates the actions of these three sections.
- Facility: Facility involves the planning of facility for the manufacture of products. It involves the use of software such as CAFM (computer aided facility management). The facility also involves the coordination between the workplace and the people working in the workplace.
- Production: Production involves the planning of production in the company. Proper allocation of resources and the utilization of production capacity to the maximum are some of the major actions considered under production planning section.
- Product: The product involves the designing and planning of the product to be made. Software such as CAD and other digital mock-up designs are used in this section.
Browse Related Reports:
- Global Digital Manufacturing Market 2016-2020
- Global Simulation and Analysis Software Market 2016-2020
- Global PLM in the Automotive Sector 2016-2020
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