Digital Thread Market worth $36.81 billion by 2030 – Exclusive Report by MarketsandMarkets™

DELRAY BEACH, Fla., Sept. 25, 2024 /PRNewswire/ — The Digital Thread Market is expected to reach USD 36.81 billion by 2030 from USD 11.42 billion in 2024, at a CAGR of 21.5% during 2024–2030 according to a new report by MarketsandMarkets™. The significant growth factor associated with the digital thread market is increasing demand for IoT and connected devices, the need for enhanced product quality and efficiency, and stringent regulatory compliance requirements. Advancements in AI and machine learning, trends toward customization and personalization, the rise of Industry 4.0, and a focus on sustainability also drive adoption. These elements make digital threads essential for optimizing operations, improving decision-making, and supporting agile, efficient, and sustainable production processes across various industries.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=250298087

Browse in-depth TOC on “Digital Thread Market” 

211 – Tables
71 – Figures
264 – Pages

Digital Thread Market Report Scope:

The Product lifecycle management (PLM) technology segment contributed highest market share in 2023.

Product Lifecycle Management is the most influential field in the Digital Thread industry, as it is a fundamental means of e-management for all stages of a product’s life, from conceptualization and design to production chain, maintenance, waste management, and final processing. PLM solutions combine data, processes, and business systems to make possible the smooth coordination among departments and stakeholders. This will be critical in ensuring continuity and integrity of the digital thread, as it allows for real-time access to data, better decision-making, and quality products. Additionally, PLM enforces compliance to regulatory standards, optimizes resources, and time-to-market; thus, it is also an important building block toward adopting and ensuring the success of a digital thread.

Automotive segment expected to dominate the digital thread market during the forecast period.

The digital thread is increasingly used in the automotive industry to create a seamless flow of information throughout the entire lifecycle of a vehicle-from design and engineering to manufacturing, operation, and maintenance. In this industry, the digital thread connects various stages of production, ensuring that all data is integrated and accessible in real time. This connection enhances design collaboration, production efficiency, supply chain optimization, quality control, and life cycle management. The complexity of the sector, the requirement for increased integration, and the emphasis on innovation and quality make digital threads vital, resulting in automotive supremacy in the digital thread market.

Cloud-based deployment segment contributed highest market share in 2023.

The cloud-based digital thread segment leads the market due to its scalability, cost-effectiveness, and flexibility, which allow organizations to easily scale up and expand. They provide remote and collaborative cloud solutions, real-time data integration, and powerful analytics and AI toolkits. They also have robust security and compliance capabilities, making them great options for managing complex digital threads most efficiently and cost-effectively.

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=250298087

North America accounted for the largest share of the digital thread market in 2023.

North America includes the United States, Canada, and Mexico. The region has the largest share of the digital thread industry owing to the early adoption of advanced technologies such as loT, Al, and cloud computing indispensable to deploying digital thread solutions. Innovation and technology-driven industries have a very high concentration in the region, and this encourages the use of digital threads. Added to that, the huge industrial and manufacturing base- aerospace, automotive, pharmaceuticals- continuously keeps demand high for digital threads given enhancements to be achieved in efficiency, quality, and integration of complex processes.

The report profiles key players in digital thread companies such PTC (US), IBM (US), Siemens (Germany), Dassault Systemes (France), Rockwell Automation (US), Autodesk, Inc. (US), Oracle (US), AVEVA Group Limited (UK), SAP (Germany), General Electric (US), Accenture (Ireland) and others.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=250298087

Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

Related Reports: 

Building Twin Market by Offering (Software Solutions, Services), Application (Facility Management, Predictive Maintenance, Safety & Security Management, Energy Management), End User (Commercial, Industrial) and Region – Global Forecast to 2029

Digital Twin Market Size, Share & Industry Trends Growth Analysis Report by Application (Predictive Maintenance, Business Optimization, Performance Monitoring, Inventory Management), Industry (Automotive & Transportation, Healthcare, Energy & Utilities), Enterprise and Geography – Global Growth Driver and Industry Forecast to 2028

Industrial IoT Market Size, Share & Industry Trends Growth Analysis Report by Offering (Hardware (Processors, Connectivity ICs, Sensors, Memory Devices, Logic Devices), Software (PLM, MES, SCADA, OMS), Platforms), Connectivity Technology, Deployment, Vertical and Region – Global Forecast to 2029

System Integrator Market Size, Share, industry Growth, Trends & Analysis by Technology (Human Machine Interface, Machine Vision, Industrial Robotics, Industrial PC, IIoT, Distributed Control System, SCADA, PLC), Service Outlook (Consulting, Software Integration Service) – Global Forecast to 2029

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/digital-thread-companies.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/digital-thread.asp

Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg

SOURCE MarketsandMarkets