Model Based Manufacturing Technologies Market Expected to Grow at CAGR of 7.4% through 2017-2027
Verfasser: ShashiiPawar on Wednesday, 2 August 2017There 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. Modern day factories follow certain models that allow more efficient, systematic and cost-effective manufacturing. In order to stay competitive, manufacturers are adopting the latest model-based manufacturing technologies. Future Market Insights in its new report projects that the US$ 23,866 Mn global model-based manufacturing technology market is set to register an impressive CAGR of 7.4% during the forecast period (2017-2027) to reach a valuation of US$ 53,550 Mn. 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.