new york, November 16, 2023 /PRNewswire/ — Traditional automakers are expanding their product lineups to electric vehicles ( We are facing a major challenge in transitioning to EVs.New report from a global technology intelligence company ABI Research Automaker spending forecasts 83.3 billion USD Digital technology growth rate will grow at a CAGR of 8.5% in 2023; US$188 billion In 2033.
“The transition to EVs is driving demand for software as manufacturers need to design new vehicles and simulate vehicle performance. New production lines also need to be simulated before launch. Teams are beginning to realize the potential of digital twins to enable them to “work together to realize new business”. michael lerner, Director of Industrial and Manufacturing Market Research at ABI Research. Before creating a digital twin, automakers must break down data silos and create digital threads with suppliers such as Amazon Web Services (AWS), Google, NVIDIA, and Siemens.
Regarding the region,latin america It is predicted to be the fastest growing region (9% CAGR) as OEMs expand digital investments across their facilities and invest in locations such as: Mexico and Brazil. on the other hand, North America, Europe, middle eastand Africa In (EMEA), investment will be driven by the transition to EVs and competition between OEMs’ various factories to produce new vehicle lineups,” concludes Lerner.
These findings come from ABI Research’s Digital Transformation Analysis Report for Automotive Manufacturing Applications. This report is part of the company’s industrial and manufacturing market research offering, which includes research, data and ABI Insights. Based on extensive primary interviews, the application analysis report presents an in-depth analysis of key market trends and drivers for a given technology.
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ABI Research is a global technology intelligence company that provides practical research and strategic guidance to technology leaders, innovators, and decision makers around the world. Our research focuses on the innovative technologies that are dramatically reshaping today’s industries, economies, and workforces.
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Source ABI Research