2014-03-21 11:29:02 - Global Manufacturing IT Spending Market 2012-2016 - a new market research report on companiesandmarkets.com
The Global Manufacturing IT Spending market to grow at a CAGR of 5.54 percent over the period 2012-2016. One of the key factors contributing to this market growth is the need to establish a robust networked infrastructure. The Global Manufacturing IT Spending market has also been witnessing the increasing government initiatives. However, the highly volatile customer demand could pose a challenge to the growth of this market.
The Manufacturing industry is largely focusing on increasing the overall quality of its products. The latest trend in this direction has been wide usage of advanced materials to increase the tensile strength, reduce the wear and tear, and impart more flexible movement to the products. Embedding advanced materials in existing product materials necessitates a
calibration and feasibility test, which requires extensive usage of IT. IT usage reduces the wastage cost to a large extent and helps in speeding up the decision-making process. The reason for the wide usage of advanced materials in the product design is the customized client requirements, which will lead to better growth prospects in the coming years.
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