The North America digital transformation in manufacturing market size is estimated to reach USD 25.70 billion by 2025 and is projected to grow at a CAGR of 17.2% from 2018 to 2025, according to a new report by Million Insights. The increase in demand for digital solutions in manufacturing due to high productivity and efficiency is expected to increase the demand for digital solutions in the next few years.
Growing trend of artificial intelligence (AI) in the manufacturing process is a key factor supporting the market growth. These solutions help in taking real-time and smart decisions. Furthermore, robotics automation using the integration of AI is also projected to drive market growth.
Moreover, the manufacturers are shifting their focus towards customized level manufacturing from large scale type manufacturing. Thus, the manufacturers focus on real-time services to meet consumer needs. In addition, the growing trend of advanced technology is allowing manufacturers to look after industry 4.0 standards to efficiently track & monitor processes in the manufacturing unit.
Furthermore, the usage of drones for delivering the product is also gaining momentum in the market. The drones provide reduced delivery time and are cost-effective. These key factors are expected to support the digital transformation activities in the manufacturing industry. For example, in 2016, Amazon.com has introduced Amazon prime air project to deliver its products using drones.
Key manufacturers in the North America digital transformation in manufacturing market include General Electric Company, Emerson Electric Co., Dassault Systemes, BB Ltd., Fanuc Corporation, Mitsubishi Electric Corporation, Schneider Electric SE, and Siemens AG.
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Further key findings from the report suggest:
• Solution type segment is projected to lead the market by the end of 2025. Service type segment is expected to grow at a CAGR of around 18.3% over the forecast period.
• Based on deployment, hosted segment is estimated to propel at the fastest CAGR of 20.2% from 2018 to 2025. This system allows user to access the data from remote location.
• Depending on enterprise size, large enterprise type is estimated to exceed at CAGR of around 16.0% during the forecasted period, due to the increased spending by the companies on advanced digital technologies
• U.S. has dominated the market and is projected to account for over USD 19.53 billion by the end of 2025.
Million Insights has segmented the North America digital transformation in manufacturing market based on type, deployment, enterprise size and country:
North America Digital transformation in Manufacturing Type Outlook (Revenue, USD Billion, 2014 - 2025)
• Cloud Computing
• Social Media
• Implementation and Integration Services
• Professional and Consulting Services
North America Digital transformation in Manufacturing Deployment Outlook (Revenue, USD Billion, 2014 - 2025)
North America Digital transformation in Manufacturing Enterprise Size Outlook (Revenue, USD Billion, 2014 - 2025)
• Large Enterprise
• Small & Medium Enterprise (SME)
North America Digital transformation in Manufacturing Country Outlook (Revenue, USD Billion, 2014 - 2025)