Digital Manufacturing Market, By Component (Hardware, Software & Services), By Technology (3D Printing, Robotics, Internet of Things (IoT), and Others), By Application (Aerospace & Defense, Automotive & Transportation, Industrial Machinery, Consumer Electronics, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032

The regions that make up the Digital Manufacturing Market are Latin America, North America, Europe, Asia Pacific, and the Middle East and Africa. Due to the application of AI (artificial intelligence) and IoT (internet of things) in manufacturing sectors like the automotive and transportation industries and the expectation that technological advancement will increase demand for the digital manufacturing market in the region, the North American market is expected to witness a significantly high revenue share over the forecast period.

Because of strong government backing for digitization and cutting-edge technologies like edge computing and the Internet of Things, Europe is the second-largest expanding region in the market for digital manufacturing. For example, the major European drone group Parrot Company introduced a new drone, "ANAFI USA," in June 2020 for 3D mapping and aerial surveying for manufacturing applications. This introduction is projected to accelerate the expansion of the digital manufacturing market.

Due to the increasing adoption of digital technologies, the swift urbanization of the world, an increase in construction projects, the growing government initiatives such as the rapid transformation hub (SAMARTH) and Udyog Bharat 4.0 in India, and the increasing use of robotics and automation in manufacturing industries, Asia Pacific is predicted to exhibit the highest compound annual growth rate (CAGR) in the digital manufacturing market.