PLM in Discrete Manufacturing Global Market Report 2023 – By Component (Software, Services), By Enterprise Size (Large Enterprises, Small and Medium Enterprises), By Deployment Model (On Premise, Cloud), By Industry Vertical (Automotive and Transportation, Industrial Machinery and Heavy Equipment, High Tech And Consumer Electronics, Aerospace and Defense, Other Industry Verticals) – Market Size, Trends, And Global Forecast 2023-2032

PLM refers to managing every step of the process involved with a product from raw material to finished product. The PLM process is inclusive of the manufacturing and marketing of the goods. From pricing and advertising to expansion or cost-cutting, the concept of product life cycle assists organizations in making smart business decisions. The main components of the product lifecycle management market include software and services. PLM software enables businesses to strategically collaborate with partners and customers using trusted, up-to-date product information. PLM can be deployed either on-premise or on-cloud. The end-users of PLM include the automotive and transportation industry, industrial machinery, electronics and semiconductors, retail, energy and utilities, aerospace and defense, pharmaceuticals, IT and telecom, and others. The global product lifecycle management market is segmented - 1) By Component: Software, Services 2) By Deployment: On-Premise, On-Cloud 3) By End-User: Automotive And Transportation, Industrial Machinery, Electronics And Semiconductors, Retail, Energy And Utilities, Aerospace And Defense, Pharmaceuticals, IT And Telecomm, Other End Users The global product lifecycle management market size will grow from $35.37 billion in 2022 to $37.94 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the product lifecycle management is expected to grow to $51.38 billion in 2027 at a CAGR of 7.9%. The growing adoption of product lifecycle management (PLM) from end-use industries is expected to propel market growth in the coming years. PLM has the potential to offer improved supply chain accuracy, enhanced regulatory compliance, lower lead times, and an increase in sales growth. Product lifecycle management (PLM) software is being used by end-use sectors to increase transparency in supply chains & manufacturing processes and speed the development of innovative goods. For instance, in June 2021, Accenture, an Ireland-based company that provided professional services agreed with DI Square, a Japan-based IT company specialized in data analytics software acquired the firm's consulting capabilities for product lifecycle management (PLM) and application lifecycle management (ALM) systems integration. The acquisition of DI Square will increase Accenture’s engineering expertise for the automotive and other manufacturing clients in Japan and other markets. Major players in the product lifecycle management market are ANSYS Inc., Accenture, Oracle Corporation, SAP SE, Autodesk Inc., Siemens AG, PTC Inc., Dassault Systèmes SE, Aras Corporation, IBM, and Atos. Augmented Reality (AR) and Virtual Reality (VR) are increasing the demand for the product lifecycle management (PLM) market. Major companies operating in the product lifecycle management (PLM) sector are focused on integrating new technology such as augmented reality (AR) and virtual reality (VR) to strengthen their position. For instance, in February 2021, Siemens had launched AssistAR 3.0, AssistAR supports assembly, inspection, and maintenance procedures with a new generation of accurate and robust augmented reality (AR) technologies. AssistAR connects to the company's product lifecycle management (PLM) system and uses regular PCs and displays to guide company operators through complex operations without the use of glasses or a headset. In May 2020, Accenture, an Ireland-based company that specializes in providing consulting and professional services acquired PLM systems for an undisclosed amount. The acquisition of PLM Systems would enable Accenture to advance in the digitization of engineering services; Accenture intends to combine their capabilities, methodology, technology, and solutions for PLM Systems. This acquisition is in line with Accenture’s expansion plans towards improving their industrial product development process and providing more efficient and sustainable solutions to their clients. PLM systems is an Italian company that specializes in the design and development of information systems for product lifecycle management. North America was the largest region in the product lifecycle management market in 2022. The regions covered in the product lifecycle management report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the product lifecycle management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The product life cycle management market includes revenues earned by entities by providing solutions and services that provide solution such as initial design through manufacturing, supply chain management and operations, and asset maintenance by incorporating digital solutions, data, and data processing. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The product lifecycle management (PLM) market research report is one of a series of new reports from The Business Research Company that provides product lifecycle management (PLM) market statistics, including product lifecycle management (PLM) industry global market size, regional shares, competitors with a product lifecycle management (PLM) market share, detailed product lifecycle management (PLM) market segments, market trends and opportunities, and any further data you may need to thrive in the product lifecycle management (PLM) industry. This product lifecycle management (PLM) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Blockchain is an immutable shared ledger that records online transactions, tracks assets, and builds trust in a business network. The main application of blockchain in the manufacturing market is logistics and supply chain management, counterfeit management, quality control, compliance, and others. The logistics and supply chain management in the blockchain are used by different industry sectors to improve supply chain management. It allows supply chain partners to share trusted data through permissioned blockchain solutions. It has components such as platform and serivces used in various sectors such as energy and power, industrial, automotive, pharmaceuticals, aerospace and defense, food and beverages, textile and clothing, and others. The global blockchain in manufacturing market is segmented - 1) By Applications: Logistics and Supply Chain Management, Counterfeit Management, Quality Control and Compliance, Other Applications 2) By Component: Platform, Services 3) By End-Use: Energy And Power, Industrial, Automotive, Pharmaceuticals, Aerospace And Defense, Food And Beverages, Textile And Clothing, Other End-Users The global blockchain in manufacturing market size will grow from $0.08 billion in 2022 to $0.14 billion in 2023 at a compound annual growth rate (CAGR) of 73.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the blockchain in manufacturing is expected to grow to $1.37 billion in 2027 at a CAGR of 74.3%. Increased demand for the blockchain from end-use industries across the globe is driving the growth of the blockchain market. In the industrial sector, blockchain can enable an altogether new manufacturing business model by increasing visibility across all elements of the process, from suppliers, strategic sourcing, procurement, and supplier quality through shop floor operations, which include machine-level monitoring and servicing. For instance, according to Wood Makenzie's Blockchain in Energy research report published in 2021, 59% of blockchain energy initiatives are creating peer-to-peer energy platforms. A peer-to-peer energy market is a community of people who trade and buy extra energy from one another. Therefore, increased demand for the blockchain from various sectors is expected to propel the growth of blockchain in the manufacturing market going forward. Major players in the blockchain in manufacturing market are Advanced Micro Devices Inc., Amazon Web Services Inc., Blockchain Foundry Inc., CargoX, Chronicled, Xayn AG, Factom Inc., IBM Corporation, Intel Corporation, Microsoft Corporation, Nvidia Corporation, Oracle Corporation, Riddle&Code GmbH, Wipro Limited, Everledger Ltd., Accenture PLC, BigchainDB GmbH, ChromaWay AB, and LO3 Energy. Technological advancements are shaping the blockchain in the manufacturing market. Technologies such as artificial intelligence and IoT helps in the automation of the manufacturing processes that saving time and cost in the process. For instance, in July 2021, Tech Mahindra, an India-based Information technology company launched a blockchain-based system to track vaccine supply. Vaccine manufacturers can utilize the system to monitor vendor payments, inventory, and smart contracts via Internet-of-Things (IoT) connection. In October 2020, TomoChain, a Singapore-based smart contract platform acquired Lition for an undisclosed amount. Through this acquisition, Lition becomes a core segment of TomoChain and continues to build its sidechain technology for commercial use cases while cultivating relevant business expansion collaborations. Lition is a Germany-based company that provides public-private blockchain with deletable data features. Asia-Pacific was the largest region in the blockchain in manufacturing market in 2022. The regions covered in the blockchain in manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the blockchain in manufacturing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The blockchain in the manufacturing market includes revenues earned by entities by offering blockchain technology in manufacturing services which includes providing digitally transformed processes of manufacturing with the help of numerous systems and applications. Blockchain technology helps the manufacturing industry by making the supply chain more secure and processes more transparent. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The blockchain in the manufacturing market research report is one of a series of new reports from The Business Research Company that provides blockchain in the manufacturing market statistics, including blockchain in the manufacturing industry global market size, regional shares, competitors with a blockchain in the manufacturing market share, detailed blockchain in the manufacturing market segments, market trends and opportunities, and any further data you may need to thrive in the blockchain in the manufacturing industry. This blockchain in the manufacturing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Manufacturing execution system refers to comprehensive dynamic software designed to monitor, track, and document and control the process of manufacturing from raw material to end product. It acts as a functional layer between ERP (enterprise resource planning) and process control systems, by offering data to decision-makers to establish efficient and optimized production activities. The main offering of manufacturing execution systems includes software and services. The manufacturing execution system software refers to a specialist class of production-oriented software, which is designed to manage, monitor and synchronize the execution of real-time physical processes involved in converting raw materials into finished products. They are deployed through on-premise, on-demand and hybrid delivery models. These systems are used in small and medium-sized enterprises and large enterprises in industries ranging from food & beverages, oil & gas, chemicals, pulp & paper, pharmaceutical & life sciences, energy & power, water & wastewater treatment, and other industries. The global manufacturing execution system market is segmented - 1) By Offering: Software, Services 2) By Deployment: On-premise, On-demand, Hybrid 3) By Organization Size: Small and Medium Size Enterprise, Large Enterprise 4) By Process Industry: Food & Beverages, Oil & Gas, Chemicals, Pulp & Paper, Pharmaceutical & Life Sciences, Energy & Power, Water & Wastewater Management, Other Process Industries The global manufacturing execution system market size will grow from $13.21 billion in 2022 to $14.73 billion in 2023 at a compound annual growth rate (CAGR) of 11.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the manufacturing execution system is expected to grow to $22.89 billion in 2027 at a CAGR of 11.7%. The increase in demand for mass production and a connected supply chain to cater to the growing population is expected to drive the manufacturing execution system market. The companies are increasingly investing in advanced software and AI-based systems to meet the fast-growing demand for mass production activities and connected supply chains. For instance, according the study published in the United Nations Industrial Development Organization, in the Q4 of 2021, global manufacturing production observed a year-on-year growth of 3.3%, following an increase of 5.8% and 17.8% in Q3 and Q2 respectively. Additionally, according to the study conducted by PwC, a Global Industry 4.0 Survey, it was reported that implementation of manufacturing execution systems in production lines contributed to a 30% increase in productivity and increased ROI from cost savings of 3% and additional revenue of 3%. Therefore, mass production and a connected supply chain are expected to boost the manufacturing execution system industry. Major players in the manufacturing execution system market are ABB Ltd., AVEVA plc, Dassault Systèmes, Honeywell International, Inc., Rockwell Automation, Inc., Siemens AG, SAP SE, General Electric Company, Oracle Corporation, Emerson Electric Co., Werum IT Solutions GmbH, Accenture, Andea Solutions, Schneider Electric SE, HCL Technologies, and SAP AG. Technological innovations are a key trend gaining popularity in the manufacturing execution systems market. The companies operating in the manufacturing execution systems market are developing innovative products with advanced technologies to meet the fast-growing demand from end customers and strengthen their market position. For instance, in November 2020, Critical Manufacturing, a Portugal-based software company, launched the Industry 4.0 Manufacturing Execution System (MES). It is designed to solve the manufacturing data challenge with a unique approach that combines IIOT, MES, equipment integration and data platform elements for processing, and analytics that promises to accelerate the future of true manufacturing insights and intelligence to drive better business outcomes. In September 2021, Honeywell, a US-based company that provides modular solutions for life science operations efficiency, compliance, and digital transformations, acquired Performix Inc. for an undisclosed amount. With this acquisition, Honeywell's strategy is to construct the world's top integrated software platform for customers in the life sciences industry with the inherent potential to achieve faster compliance, enhanced dependability, and higher production throughput while maintaining the highest levels of quality. Performix Inc., is a Huston-based company involved in offering manufacturing execution system (MES) software for the pharmaceutical and biotech industries. Asia-Pacific was the largest region in the manufacturing execution system market in 2022. The regions covered in the manufacturing execution system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the manufacturing execution system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The manufacturing execution system market includes revenues earned by entities by providing services such as business planning and logistics, manufacturing operations management, process control systems, batch control, continuous control, discrete control. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The manufacturing execution systems market research report is one of a series of new reports from The Business Research Company that provides manufacturing execution systems market statistics, including manufacturing execution systems industry global market size, regional shares, competitors with a manufacturing execution systems market share, detailed manufacturing execution systems market segments, market trends and opportunities, and any further data you may need to thrive in the manufacturing execution systems industry. This manufacturing execution systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Manufacturing analytics refer to a statistical tool that aids in the rule-based analysis of manufacturing data and information, allowing users to better understand the process and hence enhance business operations and product quality. Manufacturing analytics enables to spot an issue before it occurs, which could have an impact on the product, yield, or cost. Manufacturing analytics is used to improve process efficiency and centralize production monitoring. The main types of components in manufacturing analytics are software and service. The software refers to business intelligence (BI) tools for capturing, aggregating, and analyzing manufacturing data analytics. Manufacturing analytics software reveals insights about processes and functions that can lead to improvements at all levels of an organization. The different deployment modes include cloud, and on-premise and are used in several applications such as predictive maintenance, inventory management, supply chain optimization, and others. It is employed in semiconductor and electronics, energy and power, pharmaceutical, automobile, heavy metal and machine manufacturing, and other industry verticals. The global manufacturing analytics market is segmented - 1) By Component: Software, Services 2) By Deployment: Cloud, On Premise 3) By Application: Predictive Maintenance, Inventory Management, Supply Chain Optimization, Other Applications 4) By Industry Vertical: Semiconductor and Electronics, Energy and Power, Pharmaceutical, Automobile, Heavy Metal and Machine Manufacturing, Other Industry Verticals The global manufacturing analytics market size will grow from $9.92 billion in 2022 to $11.98 billion in 2023 at a compound annual growth rate (CAGR) of 20.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the manufacturing analytics is expected to grow to $27.27 billion in 2027 at a CAGR of 22.8%. An increase in the need for process optimization is expected to propel the growth of the manufacturing analytics market going forward. Process optimization refers to reducing or eliminating time and resource wastage, unnecessary costs, bottlenecks, and mistakes while achieving the process objective. Process optimization in manufacturing analytics adds to various benefits such as providing faster response to issues at the machine level, and improved maintenance and so leading to its growth and increasing the need for this technique. For instance, according to Camunda, a Germany-based open-source workflow, and decision automation platform, in 2020, 51% of automation initiatives are aimed at boosting efficiency and optimization. Also, according to a survey conducted by Camunda in 2020 on how process automation is a business driver for growth, half (49%) of an organization’s process automation initiatives are focused on driving business growth. The other half of the process automation initiatives highlighted ways of business optimization (27%). Therefore, an increase in the need for process optimization is driving the manufacturing analytics market growth. Major players in the manufacturing analytics market are SAP SE, Oracle Corporation, SAS Institute Inc., Tableau Software Inc., TIBCO Software Inc., International Business Machines Corporation, Alteryx Inc., Sisense Inc., Wipro Limited, Bridgei2i Analytics Solutions, Cisco Systems Inc., FICO (Fair, Isaac and Company), Domo Inc., Neubrain, Aegis Software, MachineMetrics, and Lantek. New product innovation is a key trend gaining popularity in the manufacturing analytics market. Major companies operating in the manufacturing analytics market are focused on developing technologically advanced software to strengthen their market position. For instance, in May 2022, Google Cloud Platform, offered by Google, a US-based technology company launched Manufacturing Data Engine and Manufacturing Connect that enable manufacturers to connect previously segregated assets, process and standardize data, and improve visibility from the factory floor to the cloud. The solutions enable three essential AI and analytics-based use cases–manufacturing analytics and insights, predictive maintenance, and machine-level anomaly detection–once data has been harmonized. Manufacturing Data Engine and Manufacturing Connect, both of which are now accessible, assist manufacturers in unifying their data and empowering their employees through simple analytics and AI solutions built on cloud infrastructure. In October 2020, TIBCO Software Inc., a US-based business intelligence software company, acquired Information Builders Inc for an undisclosed amount. Through this acquisition, TIBCO gained the access to a broader range of analytics and technologies, considerably boosting its capacity to assist the world's most prestigious enterprises in solving the most difficult data challenges and further unlock the potential of real-time data for making faster, better decisions. Information Builders Inc is a US-based privately held software company that offers business analytics services. North America was the largest region in the manufacturing analytics market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the manufacturing analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the manufacturing analytics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The manufacturing analytics market includes revenues earned by entities by tools and services transform real-time data into just-in-time insights and enable improved customer service. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The manufacturing analytics market research report is one of a series of new reports from The Business Research Company that provides manufacturing analytics market statistics, including manufacturing analytics industry global market size, regional shares, competitors with a manufacturing analytics market share, detailed manufacturing analytics market segments, market trends and opportunities, and any further data you may need to thrive in the manufacturing analytics industry. This manufacturing analytics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Electronic contract manufacturing and design services are defined as a form of engineering and manufacturing outsourcing services that companies use to test, manufacture and distribute products, and provide return and repair services. The complexity and wide variety of electronic devices make OEMs choose electronic contract manufacturers to outsource their products for the efficient manufacturing process and to focus on internal operations such as new product development with greater complexity and higher margins. The main types of electronic contract manufacturing and design services are designing, assembly, manufacturing, and others. Designing refers to a method of human expression that follows a system of highly developed procedures in order to imbue objects, performances, and experiences with significance. These are used in various applications such as consumer electronics, electronic components, computers & peripherals, industrial electronics, others by various end-user industries including healthcare, automotive, industrial, aerospace and defense, IT and telecom, power and energy, consumer electronics, others. The global electronic contract manufacturing and design services market is segmented - 1) By Type: Designing, Assembly, Manufacturing, Other Types 2) By Application: Consumer Electronics, Electronic Components, Computers & Peripherals, Industrial Electronics, Other Applications 3) By End User: Healthcare, Automotive, Industrial, Aerospace and Defense, IT and Telecom, Power and Energy, Consumer Electronics, Other End Users The global electronic contract manufacturing and design services market size will grow from $429.85 billion in 2022 to $477.89 billion in 2023 at a compound annual growth rate (CAGR) of 11.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global electronic contract manufacturing and design services is expected to grow to $732.34 billion in 2027 at a CAGR of 11.3%. The increase in demand for consumer electronics is significantly contributing to the growth of the electronic contract manufacturing and design services market. Consumer electronics are the instruments, machines, and apparatus that are used by end-users or consumers on a daily basis that provide one or more functionalities in a home or for a particular individual for professional or personal use. Consumer electronics include televisions, computers, laptops, smartphones, watches, and tablets. The rising demand for consumer electronics increases the need for outsourcing of electronics components from electronic contract manufacturing companies, which reduces the cost of manufacturing, assembling of products, and design services and increases operational efficiency in manufacturing. For instance, according to the Consumer Electronics and Appliances Manufacturers Association (CEAMA), the Indian appliances and consumer electronics market size is expected to grow more than two-folds in the next five to six years and reach up to $26.81 billion. Also, according to ClearSale, the revenue in the consumer electronics segment is anticipated to increase by more than USD360 billion in 2020 and more than USD450 billion by 2024. Therefore, the increase in demand for consumer electronics is driving the growth of electronic contract manufacturing and design services. Major players in the electronic contract manufacturing and design services market are Flex Ltd., Hon Hai Precision Industry Co., Ltd., Benchmark Electronics, Celestica Inc., Venture Corporation Limited, Fabrinet, Plexus Corp., Sanmina Corporation, Compal Electronics, Inc., Universal Scientific Industrial Co., Ltd., New Kinpo Group, Creating Technologies LP, Shenzhen Kaifa Technology, LCS Company, and Bassett Industries, Inc. Strategic partnerships and collaborations are the key trends being followed by the companies operating in the electronic contract manufacturing and design services market. This is due to the presence of a large number of electronics manufacturing companies operating in the market and their desire to extend their growth in new areas to be a leader in the market. For instance, in September 2021, BioSig Technologies, Inc., an American medical device company, and Plexus Corp., an American-based contract electronics manufacturing company, formed a technological and strategic partnership for the commercialization and development of a new biomedical signal processing platform, which provides a full range of applications in arrhythmia care for BioSig’s subsidiary NeuroClear Technologies. In March 2020, Universal Scientific, a China-based electronic design and manufacturing services company, acquired Asteelfash Group for an undisclosed amount. Through this acquisition, Universal Scientific aims to expand its overseas manufacturing sites and operational systems to meet the needs of the European and US markets. Asteelfash Group is a France-based multinational electronics contract manufacturing company. Asia-Pacific was the largest region in the electronics contract manufacturing and design services market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electronic contract manufacturing and design services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the electronic contract manufacturing and design services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The electronic contract manufacturing and design services market includes revenues earned by entities by providing services such as electronic design and engineering, electronics assembly, electronic manufacturing. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The electronic contract manufacturing and design services research report is one of a series of new reports from The Business Research Company that provides electronic contract manufacturing and design services statistics, including electronic contract manufacturing and design services industry global market size, regional shares, competitors with electronic contract manufacturing and design services share, detailed electronic contract manufacturing and design services segments, market trends and opportunities, and any further data you may need to thrive in the electronic contract manufacturing and design services industry. This electronic contract manufacturing and design services research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

Contract development manufacturing organizations refer to businesses that work on a contract basis with the pharmaceutical sector to provide medication development and manufacturing services. These businesses enable the pharmaceutical industry to outsource some of its operations, freeing up crucial time to concentrate on medication development and marketing. The contract development manufacturing organizations are segmented by service into CMO, CRO; by product into small molecules, biologics and by end user into big pharma, small and mid-size pharma, generic pharmaceutical companies, and other end users. The global contract development manufacturing organizations market is segmented - 1) By Service: CMO, CRO 2) By Product: Small Molecules, Biologics 3) By End User: Big Pharma, Small and Mid-size Pharma, Generic Pharmaceutical Companies, Other End Users The global contract development manufacturing organizations market size will grow from $196.26 billion in 2022 to $218.64 billion in 2023 at a compound annual growth rate (CAGR) of 11.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the contract development manufacturing organizations is expected to grow to $339.72 billion in 2027 at a CAGR of 11.6%. The growing demand for pharmaceutical products due to the increase in chronic diseases and the geriatric population contributed to the growth of the contract development manufacturing organizations market. Rising chronic diseases and geriatric population has enabled pharmaceutical companies to manufacture biologics and biosimilars quickly, and most pharmaceutical firms have contracted contract production and manufacturing organizations operating on a contractual basis to handle and coordinate the company's tasks, operations and tests. For instance, according to the World Health Organization, the prevalence of chronic diseases rose by 57% in 2020 and by 2050 the world's population of 60 years and older is projected to rise to 2 billion. Therefore, the growing demand for pharmaceutical products is projected to drive the growth of the contract development manufacturing organizations market. Major players in the contract development manufacturing organizations market are Recipharm AB., Patheon Inc., Boehringer Ingelheim International, Catalent Inc., Lonza Group Ltd., Thermo Fisher Scientific Inc., Aenova Holding, Almac Group, Vetter, and Covance Inc. Stringent government regulations in the drug approval process may restrict the growth of the contract development manufacturing organizations market. Several governments across the globe are enforcing controls on pharmaceutical firms to safeguard the population from adverse drug effects. These regulations further delay the process of introducing innovative pharmaceuticals onto the marketplace. For instance, on average, it requires at least ten years for a new drug to finish the process from the early creation to the marketplace, with clinical studies itself lasting six to seven years on average. According to data from PhRMA in 2020, the average chance of clinical success (the possibility that a drug undergoing clinical trials will finally be accepted) is calculated to be less than 12%. Therefore, the stringent government regulations are projected to impede the growth of the contract development manufacturing organizations market over the coming years. The introduction of custom solutions is a key trend gaining popularity in the market for contract development and manufacturing organizations. Contract development and manufacturing companies focus on the implementation of custom technologies to address the unique needs of individual research applications. For instance, in October 2022, Aenova Holding GmbH, a Germany based pharmaceutical and healthcare contract manufacturing company, entered into a strategic partnership with Microcaps, a Switzerland based pharmaceutical company. Through this collaboration, both companies can develop and produce medicines, food supplements, and many other things more quickly and better. Microcaps will share their knowledge of cutting-edge, highly accurate microencapsulation and Utilizing a patented technological platform, the technique allows for customized formulations, such as in release, protective coating, and texture. In February 2022, Recipharm AB, a Sweden based pharmaceutical contract development and manufacturing company, acquired Arranta Bio for an undisclosed amount. Through this acquisition, Recipharm forms the basis of a plan to offer contract development and manufacturing services that are scientifically unique to innovative drug developers in the biologics industry, increases its capabilities in new biologics modalities, and will deliver a high level of diversification across many technologies and modalities. Arranta Bio is a US-based contract development and manufacturing organization (CDMO) that collaborates with businesses looking to develop and produce novel medicines and complicated biological pharmaceuticals. North America was the largest region in contract development manufacturing organizations market in 2022. The regions covered in the contract development manufacturing organizations market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the contract development manufacturing organizations market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The contract development manufacturing organizations market includes revenues earned by entities by formulation, analytical services, blending, coating, and converting. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The contract development manufacturing organizations market research report is one of a series of new reports from The Business Research Company that provides contract development manufacturing organizations market statistics, including contract development manufacturing organizations industry global market size, regional shares, competitors with a contract development manufacturing organizations market share, detailed contract development manufacturing organizations market segments, market trends and opportunities, and any further data you may need to thrive in the contract development manufacturing organizations industry. This contract development manufacturing organizations market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Internet of Things (IoT) is a physical object network that contains integrated technologies that allow it to connect, sense, and interact with internal or external environments. It is a collection of end-to-end services where companies contract with external vendors to design, build, install, and operate IoT solutions, including consulting advice for IoT planning. The main platform of Internet of Things (IoT) are device management, application management and device management. The process of managing the implementation, operation, and maintenance of a physical and/or virtual device is known as device management The various application include building and home automation, smart energy and utilities, smart manufacturing, connected logistics, smart retail, smart mobility and transportation, others that are used by BFSI, retail, government, healthcare, manufacturing, transportation, IT and telecom, among other end user industries. The global IoT market is segmented - 1) By Platform: Device Management, Application Management, Network Management 2) By End Use Industry: BFSI, Retail, Government, Healthcare, Manufacturing, Transportation, IT & Telecom, Other End-User Industries 3) By Application: Building And Home Automation, Smart Energy And Utilities, Smart Manufacturing, Connected Logistics, Smart Retail, Smart Mobility And Transportation, Other Applications The global iot market size will grow from $399.41 billion in 2022 to $486.7 billion in 2023 at a compound annual growth rate (CAGR) of 21.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global iot market size is expected to grow to $1057.55 billion in 2027 at a CAGR of 21.4%. The application of IoT in various industries such as automotive industry is driving the growth of the IoT market. The introduction of IoT in the automotive industry has opened up new opportunities for carmakers and consumers worldwide. IoT has become a popular hotspot for varied multifunctional applications in the automotive sector. IoT offers enhanced communication, control and data delivery at any transportation point. Major companies like Mercedes-Benz, Volkswagen, Volvo, Toyota and Google Inc. are increasingly investing in developing smart cars with rich features that offer healthier, more convenient and more enjoyable driving experiences. According to UBS, 12% of the total cars sold in 2030 will be for autonomous taxi fleets with 26 million driverless taxis in operation worldwide, approximately. Major players in the IoT market are Cisco Systems, Inc., Microsoft Corporation, Oracle Corporation, International Business Machine (IBM) Corporation, Google Inc., Hewlett-Packard Enterprise, Amazon Web Services Inc., Bosch Software Innovation GmbH, Huawei Technologies, Intel Corporation, AT & T Inc., Hitachi Data Systems, General Electric, Bright Wolf, C3 IoT, Carriots, Concirrus, Connio, Cumulocity, Davra Networks, Device Insight, EVRYTHNG, Exosite, Autodesk SeeControl, BlackBerry, Accenture PLC., Alcatel-Lucent, Fujitsu Ltd., Dell Inc., PTC Inc., and SAP SE. The concerns with data security impact the growth of the IoT market. The rate of data intrusions is also increasingly growing with the advances in technology. IoT systems are being newly built and often have loopholes that can help the hacker to easily enter the system, serving as a major obstacle to the growth of the market for IoT sensors, since enterprise data protection is of great importance when designing analytical solutions for many vertical applications. Ransomware and denial-of-service attacks (DoS attacks) will continue to rise and be among the most common cybersecurity threats. Therefore, the data security issues limit the growth of the IoT market. The IoT devices collect a great deal of data of all types. Managing this data and analyzing it will help maximize its value for the company. Data analytics will help in analysis of IoT data in several areas such as data accuracy in time series, predictive and advanced analytics, data preparation, geospatial and location real-time (logistic data). In 2020, major cloud vendors such as Amazon, Microsoft and Google, are increasingly using data analytics for business improvement and various companies hope to expand their market share with AI algorithms capable of exploiting machine learning and deep learning, allowing businesses to derive more value and make informed decisions from the increasing data volumes. In February 2022, Breadware LLC., a US-based IoT solutions company acquired Medium One Inc. for an undisclosed amount. The acquisition add Medium One platform to Breadware and enables it to develop and offer IoT-enabled products as well as integrated environment for quick and easy implementation of IoT products. Medium One Inc. is an American IoT software company. Asia-Pacific was the largest region in the IoT market in 2022. North America was the second largest region in the global IoT market share. The regions covered in IoT market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the IoT market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The Internet of Things iot market includes revenues earned by entities by offering IoT solutions used in building and home automation, smart energy and utilities, connected logistics, smart retail, smart mobility, and transportation. The internet of things, or IoT, is a collection of interconnected smart devices, mechanical and digital machines, objects, animals or people supplied with unique identifiers (UIDs) and the ability to transmit data across a network without needing human-to-human or human-to-computer interaction. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The internet of things iot market research report is one of a series of new reports from The Business Research Company that provides internet of things iot market statistics, including internet of things (IoT) industry global market size, regional shares, competitors with an internet of things iot market share, detailed internet of things iot market segments, market trends and opportunities, and any further data you may need to thrive in the internet of things iot market industry. This internet of things iot market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Information technology (IT) is the use of computers, storage, networking and other physical devices, infrastructure and processes to create, process, store, secure and exchange all forms of electronic data. The main type of information technology (IT) are IT services, computer hardware, telecom, and software products. Computer hardware is the physical components that a computer system requires to function and encompasses everything within a PC or laptop. The services are used by large, small, and medium enterprises of financial services, retail and wholesale, manufacturing, healthcare and others. The global information technology (IT) market is segmented - 1) By Type: IT Services, Computer Hardware, Telecom, Software Products 2) By Organization Size: Large Enterprise, Small and Medium Enterprise 3) End User Industry: Financial Services, Retail & Wholesale, Manufacturing, Healthcare, Other End User Industries Subsegments Covered: Hardware Support Services, Software And BPO Services, Cloud Services, Computer Peripheral Equipment, Computer Storage Devices And Servers, Computers, Wireless Telecommunication Carriers, Wired Telecommunication Carriers, Communications Hardware, Satellite & Telecommunication Resellers, Operating Systems & Productivity Software Publishing, Database, Storage & Backup Software Publishing, Business Analytics & Enterprise Software, Video Game Software, Design, Editing & Rendering Software The global information technology (IT) market size grew from $8179.48 billion in 2022 to $8852.41 billion in 2023 at a compound annual growth rate (CAGR) of 8.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The information technology (IT) market is expected to grow to $11995.97 billion in 2027 at a CAGR of 7.9%. The demand for cloud computing services is expected to drive the demand for IT services during the forecast period. In the cloud computing model, data is stored on the internet by a cloud computing provider, who manages and operates data storage as a service. Many companies are now choosing applications hosted in the cloud for their day-to-day operations. For example, according to statistics provided by hostingtribunal.com, 60% of computing workloads were running in the public cloud in 2019. Similarly, 94% of enterprise workloads are expected to be processed by cloud data centers in 2021. Companies are also opting for cloud-based data storage, thus boosting the demand for IT services. Major companies in the information technology (IT) market include Apple, Microsoft, Verizon Communications, China Mobile, AT&T Inc., Huawei, Deutsche Telekom AG, Dell Technologies Inc., Samsung Electronics Co., Ltd. and Comcast Corporation. The outbreak of COVID-19 disease (COVID-19) has acted as a significant restraint on the information technology (IT) market share in 2020 as supply chains were disrupted due to trade restrictions and employees working for these establishments faced difficulties related to infrastructure and communication owing to lockdowns imposed by governments globally, forcing them to work from home. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally, including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity, with countries entering a state of 'lock down,' and the outbreak had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the information technology (IT) market will recover from the shock across the forecast period as it is a 'black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy. Over the past five years there has been an increasing prevalence of low cost open source alternatives. Open source has become a preferred platform for developing new technology. In the past, software publishers would open source software that was not making money, but now companies are open sourcing software to increase their presence and share in the market. Supabase, a YC-incubated startup that offers developers an open-source alternative, announced that it had raised a $6 million in funding to create new open-source tools. Asia-Pacific was the largest region in the information technology (IT) market in 2022. North America was the second largest region of the information technology (IT) market. The regions covered in the information technology (IT) industry analysis are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the information technology (IT) market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam. The information technology (IT) market consists of revenues earned by entities by providing IT services such as computer networking, broadcasting, systems design services and information distribution technologies like television and telephones and other equipment used during the process. The market value includes the value of related goods sold by the service provider or included within the service offering. The information technology (IT) market also includes sales of computers, computer peripherals and telecommunications equipment which are used in providing IT services. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The information technology (IT) market research report is one of a series of new reports from The Business Research Company that provides information technology (IT) market statistics, including information technology (IT) industry global market size, regional shares, competitors with information technology (IT) market share, detailed information technology (IT) market segments, market trends and opportunities, and any further data you may need to thrive in the information technology (IT) industry. This information technology (IT) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.