From the Model T to Model X, the past century has achieved automotive evolution that astounds as much as it imbues promise for innovation yet to come. Manufacturers with an eye to the future know that potential lies heavily in digital transformation, which is estimated to create $100 trillion in value across all industries over the next decade, according to the World Economic Forum. Within the automotive industry, the widespread influence of digitization and the Fourth Industrial Revolution — from electrification and autonomous vehicles to market structures that shift away from individual ownership — have changed the game dramatically.
Today, digital manufacturing stands to fundamentally disrupt how the automotive industry operates. Digital manufacturing is the assembly line of the digital age, affording increased design capabilities alongside resource efficiencies that are transformative as much as they are business imperatives.
In this competitive landscape, companies cannot be bound by traditional manufacturing processes and schedules if they want to be leaders. The current market challenges demand responses that are both rapid and flexible. Digital manufacturing has already begun to meet that mandate and will continue to do so in three critical areas.