Digital Manufacturing Market Size, Share, Growth, Trends, and Global Industry Analysis: By Process (Analytics, Computer 3D Visualization, Computer-based Designing, Computer-based Simulation and Others), By Source (Software and Services), By Application (Aerospace and Defense, Automotive and Transportation, Consumer Electronics, Hi-tech Electronics, Industrial Machinery and Utilities and Processes) and Region Forecast 2019-2030

Digital Manufacturing Market size was valued at US$ 388 billion in 2023. It is expected to reach a value of US$ 911.09 billion by 2030, growing at a CAGR of 16.2% from 2024-2030. The process of creating items virtually as digital prototypes with the use of Computer-Aided Design (CAD) software is known as "digital manufacturing." To simplify the production processes, the software is frequently coupled with 3D visualization, simulation, analytics, and collaboration tools.

Additionally, many factory-related tasks like tooling, machining, assembly sequencing, and plant layout planning are carried out using digital manufacturing systems. In order to collect production data, track inventories in real-time, and assist in proper testing, they also link operators with intelligent devices, tools, and sensors. Because of this, it has a wide range of applications in many different industries, including electronics, automotive, aerospace, and military.  Market Increased adoption of digital manufacturing technology for improved traceability, increasing adoption of the Internet of things in manufacturing industries, and demand to reduce capital expenditure and shortened lead times are some key factors fueling the market growth. However, factors such as high costs of investments are hampering the market growth. Further, increasing R&D investment in the automotive industry provides a huge growth opportunity for the market growth.