The North America digital transformation in manufacturing market size is expected to reach USD 25.70 billion by 2025, according to a new report by Grand View Research, Inc., rising at a CAGR of 17.2% during the forecast period. The manufacturing industry is inclined towards deploying digital manufacturing solutions that offer greater efficiency and productivity and minimize manufacturing costs.
Artificial
Intelligence (AI) is the driving factor behind modernization of manufacturing
procedures, which is being undertaken to help make smarter real-time production
decisions. Integration of AI and robotics to improve productivity of
manufacturing processes is a major trend that is being currently observed in
the market.
Manufacturing
companies in the region are shifting their focus from large-scale manufacturing
to customized manufacturing. Since customers are increasingly demanding
tailor-made products, manufacturing companies are making efforts to fulfill
these demands in real time. In response to the growing trend, manufacturing
companies are adopting Industry 4.0 standards that include cyber-physical
systems to monitor processes in factories and make decentralized decisions.
Moreover,
use of drones for product delivery is an emerging trend in the region. Drones
are considered to be the future of last-mile delivery for consumer goods as
they are cost effective and also assist in reducing delivery time. For
instance, in December 2016, Amazon.com, Inc. launched the Amazon Prime Air
project in the U.S., which involved use of drones for delivering products
within 30 minutes.
Full Research Report On North America Digital Transformation in Manufacturing Market
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Further key
findings from the report suggest:
- The presence
of a large number of key providers of digital transformation in the region
is one of the key factors supporting the growth of the market
- The solution
segment is expected to account for the largest market share over the
forecast period. On the other hand, the service segment is anticipated to
register a CAGR of 18.3% from 2018 to 2025 owing to increasing demand for
managed and professional services that offer information on new
technologies introduced for production processes
- The hosted
deployment segment is expected to witness the highest growth over the
forecast period. It is estimated to register a CAGR of 20.2% during the
forecast period as it facilitates a virtual presence that enables
organizations to access data across connected devices at any point of time
- The large
enterprise segment is expected to account for the largest market share over
the forecast period and is anticipated to progress at a CAGR of 16.0% from
2018 to 2025 owing to huge investments of such enterprises in advanced
technologies to cope with changing industry dynamics
- The U.S. is
anticipated to continue to dominate the market over the forecast period
and is estimated to reach USD 19.53 billion by 2025 owing to increasing
government initiatives for deploying digital manufacturing process in SMEs
to increase production efficiency and gain a competitive edge
- Key industry
participants include ABB Ltd.; Dassault Systemes; Emerson Electric Co.;
Fanuc Corporation; General Electric Company; Honeywell International,
Inc.; Mitsubishi Electric Corporation; Rockwell Automation, Inc.; Robert
Bosch GmbH; Schneider Electric SE; Siemens AG; and Yokogawa Electric
Corporation.
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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