Global Model-based Manufacturing Technologies Market to Stand at US$ 53,550 Mn by 2027-end
Summary
There is a tectonic shift in the global manufacturing vertical, which is rapidly transforming the existing production lines as well as adding more dynamism to them. The trend of data exchange and automation in manufacturing technologies has led to the rise of Industry 4.0, more popularly known as smart factories. The arrival of smart manufacturing technologies and cloud-based CAD systems are expected to facilitate the growth of the market over the next couple of years. Countries such as the U.S., the U.K., Germany and France are expected to remain key markets for sustainable revenue generation from sales of model-based manufacturing technologies throughout the forecast period. Also, strategies as such are anticipated to help equipment vendors to increase sales revenue and attract new potential customers in emerging markets.