The potential growth difference for the computer integrated manufacturing market between 2021 and 2026 is USD 8.72 billion.
Key Market Dynamics:
- Market Driver – The steep learning curve of CIM software is one of the key drivers supporting the computer integrated manufacturing market growth. Warranty management plays a major role in providing customer satisfaction and customer confidence. Certain aspects of warranty management, such as product recall, have a negative effect on the customer. The amount of product recalls in a year plays a significant role in determining the net profit of the company. The major solution for the reduction or elimination of product recalls is improved traceability the process of verifying the systems or products with the help of well-documented historical data. DM can be used for enhancing traceability in manufacturing processes. It provides detailed data regarding the list of operations performed using the parts and products made using these parts. Such steep learning of CIM software will drive market growth during the forecast period.
- Market Challenges – The need for improved traceability is one of the factors hindering the computer integrated manufacturing market growth. CAD, DM, and CAM software have a steep learning curve. End-users must implement training programs to train their employees for the use of this software, which is complex and involves many features. Professionals also need adequate training to implement any upgrades to the existing system. The high cost of CAD, DM, and CAM software, along with their high training cost, are the major factors that encourage smaller, budget-constrained companies to adopt counterfeit CAD, DM, and CAM solutions. Such adoption of counterfeit products is hindering the computer integrated manufacturing market growth.
The computer integrated manufacturing market report is segmented by Product (CAD, CAM, and DM) and Geography (North America, Europe, APAC, Middle East and Africa, and South America).
The computer integrated manufacturing market share growth by the CAD segment will be significant for revenue generation. The global CAD market has witnessed the emergence of several innovative software. The development of ideas and the launch of new products have prompted companies to introduce changes such as improved documentation, the inclusion of new model templates, and enhanced support for mobile devices. Cloud-based CAD solutions such as Fusion 360 by Autodesk are gaining prominence in the global market. Thus, the use of 3D (3 Dimensional) printers for CAD design is expected to increase during the forecast period.