Surge in automation among various manufacturing industries and digital transformation across the globe are the major key factors that boost growth of the market. In addition, need for operations to be more agile and lean for enterprises is expected to supplement the market growth.
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However, lack of industry expertise and huge capital required for implementing digital transformation solutions hampers the market growth.
Furthermore, rise in adoption of internet of things (IoT), artificial intelligence, and machine learning across industries is expected to provide lucrative opportunities for the global digital transformation in the manufacturing market.
Digital transformation aids to reduce production costs as robots assist in every task of a manufacturing process, such as from raw material handling to finished product packing. They are programmed to operate 24/7 and can work without any glitch or error.
Furthermore, with the help of digital transformation solutions an error can be detected at a very early stage in the manufacturing process, which improves the overall efficiency and the productivity of the plant. As a result, digital transformation is expected to be a major part of manufacturing industries, which drives the market growth.
Asia-pacific is expected to dominate the market and contribute for the largest market share during the forecast period, owing to increase in number of SMEs in the region. Vast features of digital transformation in manufacturing encourages enterprises to invest in these solutions, which fuels the market growth.
In addition, countries in these regions such as India and China act as manufacturing hubs, hence companies are looking to set up manufacturing plants in the region, which is expected to support the market growth in the future.
Existing companies are also changing their strategies and adopting digital transformation to streamline business process and reduce cost for their operations.
Major players include Amazon Web Services, Citrix Systems, Inc., Google LLC, IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, and VMware, Inc.
Key benefits of the report:
- This study presents analytical depiction of the global digital transformation in manufacturing market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global digital transformation in manufacturing market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis based on the present and future competitive intensity of the market.
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