LONDON--(EON: Enhanced Online News)--The global digital manufacturing (DM) market in the electrical and electronics industry is expected to grow at a CAGR of close to 8% during the period 2017-2021, according to Technavio’s latest market research.
“Vendors such as Toshiba and Hitachi implement DM to increase and enhance product innovation, reduce time-to-market, minimize iterations, and enhance the collaboration and production of highly improved product quality”
In this market research report, Technavio covers the market outlook and growth prospects of the global DM market in the electrical and electronics industry until 2021. It presents the vendor landscape and a corresponding detailed analysis of the major vendors in the market. In addition, the report discusses the major growth drivers that influence the growth of the market as well as the key trends that will contribute to the growth of the market.
“One of the major facts that drives the market for DM is its role in traceability in manufacturing processes. DM collects all data regarding manufacturing process and compares it with the production plans and warns the management in case of any inconsistency, thus ensuring quality and efficiency,” says Amrita Choudhury, a lead product lifecycle management research expert from Technavio.
Technavio’s ICT research analysts segment the global DM market in the electrical and electronics industry into the following regions:
In 2016, with a market share of over 39%, the Americas emerged as the market leader in the global market, followed by APAC with 33% and EMEA with close to 28% of the market share.
Americas: largest market for DM in the electrical and electronics industry
The demand for DM in the electrical and electronics industry is the highest in the Americas. Companies which are into R&D and manufacturing activities in the semiconductor industry such as NVIDIA, Intel, and AMD are the major end-users of DM in electrical and electronics industry in the Americas. These companies are focused on producing energy-efficient products, especially IC chips with reduced costs.
However, the growth of Asia as the world electronic hub has affected the growth of the electronics and electrical industry in North America, especially the US. Most of the companies present in the US, such as Apple and Microsoft, are outsourcing a major part of their products to low-cost countries such as China and India.
Request a sample report: http://www.technavio.com/request-a-sample?report=55467
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
APAC: rapid growth of the electrical and electronics industry to boost demand
The electrical and electronics industry is growing at a rapid rate in APAC due to the increasing demand for semiconductor components, consumer durables, electronics goods, and high-technology products, especially in China, South Korea, India, and Japan. The increasing adoption of DM software by the semiconductor industry in APAC is one of the major drivers for the market growth in this region.
Major electrical and electronics companies, such as LG Electronics and Samsung Electronics, are adopting DM solutions across their product life cycle, which contributed significantly to the market growth in 2015. Japan is among the top three semiconductors producing countries in the world. Thus, the market is witnessing high adoption of cPDM solutions across semiconductor manufacturers.
“Vendors such as Toshiba and Hitachi implement DM to increase and enhance product innovation, reduce time-to-market, minimize iterations, and enhance the collaboration and production of highly improved product quality,” says Amrita.
EMEA: need for innovation and efficiency to boost growth
The DM market in the electronics and electrical industry in EMEA is driven by Germany, UK, and France. Initiatives to develop Industry 4.0 by public and private partners have contributed to the growth of the industry. The electrical and electronics industry is booming at a high rate in the UK.
The electrical and electronics industry in France relies mainly on the revenue from professional electronic equipment, which is usually considered as non-consumer electronics. The German electrical and electronics industry includes consumer electronics, telecommunications, and high-tech electronics. German electrical and electronics industry is trying to provide innovative products based on customer feedback. This move has created the need to adopt DM solutions, for integration among all departments, leading to better product innovation, faster product development, and improved quality.
The top vendors in the global DM market in the electrical and electronics industry as highlighted in this market research analysis are:
- Mentor Graphics
- Siemens PLM Software
- Dassault Systèmes
Browse Related Reports:
- Global Digital Manufacturing Market 2016-2020
- Global DM Market in Automotive Industry 2016-2020
- Global CFD Market in Automotive Industry 2017-2021
Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they’re published in addition to all 6,000+ existing reports covering segments like IT hardware, IT professional services, and IT security. This subscription nets you thousands in savings, while staying connected to Technavio’s constant transforming research library, helping you make informed business decisions more efficiently.
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
If you are interested in more information, please contact our media team at email@example.com.