The rising adoption of smart manufacturing practices and the growing need for seamless connectivity in manufacturing environments are driving market demand.
New York, USA, Dec. 19, 2024 (GLOBE NEWSWIRE) — Market Overview
The digital thread market size is projected to expand at a robust CAGR of 21.9% from 2025 to 2034. The market for digital threads was valued at USD 12.04 billion in 2024 and is anticipated to reach USD 87.01 billion by 2034.
What Is Digital Thread?
A digital thread, also known as a digital chain, is the use of digital tools for keeping a record of a product or system’s lifetime. It gathers and shares data across processes, from design to production, sale, use, and disposal. With a digital thread, organizations can break down silos, streamline operations, and achieve interoperability across teams and departments. Also, it improves enterprise collaboration and fosters informed decision-making. Besides, a digital thread helps speed up the introduction of new products and manage complexity. Digital thread finds applications across several sectors, including automotive, aerospace, energy and power, pharmaceutical, oil and gas, consumer goods, and others.
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What Are Key Report Highlights?
- The market for digital thread is poised to register robust growth, reaching USD 87.01 billion by 2034.
- The ability of digital thread to facilitate seamless data flow across all stages of a product’s lifecycle is driving its adoption across diverse industries.
- The market segmentation is primarily based on technology, module, deployment, end user, and region.
- Based on technology, the product lifecycle management segment is projected to experience the highest CAGR due to the increasing need for integrated solutions that streamline design, development, and manufacturing processes.
- The major regions covered in the digital thread market research report are North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Who Are Top Market Participants?
The market has the presence of both established players and new entrants. The key market participants are focusing on R&D initiatives to expand their product offerings and boost their market reach. A few of the digital thread market key players are:
- Dassault Systems
- IBM
- General Electric
- Oracle
- SAP
- Rockwell Automation
- Siemens
- Aveva Group Ltd.
- Autodesk, Inc.
- DXC Technology Company
- Accenture
What’s Driving Market Forward?
Rise in Government Initiatives: Several governments worldwide have introduced initiatives for training workers and improving production activities. These initiatives have led to the adoption of smart manufacturing practices, resulting in increased demand for digital threads that seamlessly connect data and processes.
Increase in Supply Chain Complexity: With global supply chains becoming highly interconnected and multifaceted, manufacturers need improved visibility and traceability to manage dependencies and risks effectively. This complexity in supply chains is expected to drive the digital thread market growth.
Growing Adoption of Analytics: Organizations worldwide are increasingly adopting data analytics software to improve their operational efficiency and make informed decisions. Digital thread technologies are supporting the adoption of data analytics platforms by integrating data from various sources and offering a comprehensive view of product performance and processes.
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Which Region Leads Market Demand?
North America dominated the digital thread market with the largest revenue share in 2024. North America’s advanced manufacturing sector is rapidly adopting automated solutions such as digital threads to enhance productivity. Besides, the presence of a robust technological infrastructure and a skilled workforce further propels the market growth in the region.
The Asia Pacific digital thread market is projected to register a significant CAGR from 2025 to 2034. The market growth in Asia Pacific is primarily fueled by the rise in strategic initiatives by top market participants. Increased investments in smart manufacturing activities are expected to further boost the adoption of digital threads across various sectors, including automotive, electronics, and consumer goods.
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How Is Market Segmentation Done?
By Technology Outlook
- Product Lifestyle Management
- Computer Aided Manufacturing
- Application Lifestyle Management
- Enterprise Resource Planning
- Material Requirement Planning
- Other Technology
By Module Outlook
- Data Collection
- Data Analysis and Visualization
- Data Management and Integration
- Others
By Deployment Outlook
- Cloud
- On-Premise
By End User Outlook
- Automotive
- Aerospace
- Energy and Power
- Pharmaceutical
- Oil and Gas
- Consumer Goods
- Others
By Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Malaysia
- South Korea
- Indonesia
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
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