Automotive Advanced Manufacturing Processes Market: Introduction
- An advanced manufacturing process is the use of innovative technologies to increase productivity of the automotive industry. Advanced manufacturing process includes adaptable manufacturing methods that are more efficient and responsible. In 2017, Ford Motor Company introduced an advanced manufacturing organization to identify manufacturing issues with the help of virtual and augmented reality technologies. This is likely to boost the automotive advanced manufacturing processes market across the globe.
Key Drivers of Automotive Advanced Manufacturing Processes Market
- Introduction to newer designs in the automotive industry where high quality and advanced manufacturing technologies are required is likely to boost the automotive advanced manufacturing processes market across the globe. Growing integration of software in manufacturing processes to enhance productivity with high quality is likely to boost the automotive advanced manufacturing processes market across the globe. Major original equipment manufacturers are employing additive manufacturing (AM) technology, also known as 3D printing, to produce component prototypes. This unique manufacturing process helps rapidly produce prototype parts, as compared to that produced by traditional manufacturing processes. This is anticipated to fuel the automotive advanced manufacturing processes market across the globe.
- Growing awareness about Internet of Things (IoT) in the field of manufacturing to enhance productivity with the help of robots is likely to propel the automotive advanced manufacturing processes market across the globe. Introduction to Industry 4.0 where connected machines communicate with each other and the human operator, which helps to identify an issue if it exists, is projected to drive the automotive advanced manufacturing processes market across the globe. Major vehicle manufacturers are utilizing virtual and augmented reality to identify manufacturing issues, which is likely to further boost the automotive advanced manufacturing processes market across the globe.
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Europe & Asia Pacific to hold significant share of global Automotive Advanced Manufacturing Processes Market
- Europe is projected to account for a major share of the global automotive advanced manufacturing processes market due to rapid expansion of industries across the region. Europe has presence of major original equipment manufacturers as well as tier-1 suppliers, including Robert Bosch GmbH, Siemens AG and IFM electronic who have major facilities that provide advanced manufacturing process methods and solutions, which in turn is likely to propel the automotive advanced manufacturing processes market across the globe.
- Followed by Europe, Asia Pacific is projected to hold a significant share of the global automotive advanced manufacturing processes market due to an increase in production of automotive across the region. Presence of major automotive parts manufacturing industries across China, India, and Japan who employ advanced manufacturing technologies, is anticipated to propel the automotive advanced manufacturing processes market in Asia Pacific.
Key Players Operating in Automotive Advanced Manufacturing Processes Market
The automotive advanced manufacturing processes market is expanding consistently, as a large number of players operate in the market. A few of the key players operating in the automotive advanced manufacturing processes market are:
- 3D Systems Corporation
- Proto Labs Inc.
- Ford Motor Company
- FARO Technologies Inc.
- Robert Bosch GmbH
- Materialise NV
- The ExOne Co.
- SPI Lasers Limited
- General Electric
- Siemens AG
- IFM Electronics
- Opel Manufacturing
- Nexteer Automotive
- Eaton Automotive Systems
- FANUC America Corporation
- Stratasys Limited
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Global Automotive Advanced Manufacturing Processes Market: Research Scope
Global Automotive Advanced Manufacturing Processes Market, by Technologies
- Augmented Reality
- Virtual Reality
- 3D Printing
- Internet of Things(IOT)
Global Automotive Advanced Manufacturing Processes Market, by End-use
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.