North America Digital Transformation In Manufacturing Market Size, Share & Trends Analysis Report By Type (Solution, Service), By Deployment, By Enterprise Size, And Segment Forecasts, 2023 - 2030

North America Digital Transformation In Manufacturing Market Size, Share & Trends Analysis Report By Type (Solution, Service), By Deployment, By Enterprise Size, And Segment Forecasts, 2023 - 2030

North America Digital Transformation In Manufacturing Market Growth & Trends

The North America digital transformation in manufacturing market size is expected to reach USD 53.70 billion by 2030, according to a new report by Grand View Research, Inc., rising at a CAGR of 16.5% from 2023 to 2030. 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.

North America Digital Transformation In Manufacturing Market Report Highlights

• The solution segment accounted for the largest revenue share of 68.1% in 2022, owing to various benefits offered by digitalization, including improving productivity, optimizing return on investment (ROI), and reducing cost for businesses across the manufacturing sector.
• The on-premise segment accounted for the largest revenue share of 52.9% in 2022 as it is expected to remain the preferred method of deployment among small & medium enterprises (SMEs).
• The large enterprise segment accounted for the largest revenue share of 58.4% in 2022 Large Enterprises are making significant investments in digital manufacturing processes to enhance or maintain their market position in a highly competitive environment
• U.S. is anticipated to register highest revenue share of 80.3% in the North America digital transformation in manufacturing market and is expected to grow at the fastest CAGR of 17.0% over the forecast period

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