Manufacturing: What’s growing

Departments - Medical Infographic

Global forecasts show strength and continued growth in 2020 with compound annual growth rates (CAGR) ranging from 5.5% to 17.7%. Here’s what you can expect for the various areas.

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January 30, 2020

Sources: www.fortunebusinessinsights.com; www.marketresearch.com
ICONS: ADOBE STOCK

Growth in manufacturing technologies from 2019 through 2024

In billions

Industry 4.0: 2019: $71.7; 2024: $156.6; 16.9% CAGR

CNC machine tools*: 2019: $88.2; 2024: $115.2; 5.5% CAGR

Engineering software*: 2019: $29.2; 2024: $54.6; 13.3% CAGR

Metal cutting tools*: 2019: $24.2; 2024: $36.8; 8.8% CAGR

Industrial robots*: 2019: $18.9; 2024: $31.7; 12.0% CAGR

Manufacturing execution systems (MES)*: 2019: $12.3; 2024: $24.1; 14.3% CAGR

Additive manufacturing*: 2019: $9.9; 2024: $22.4; 7.7% CAGR

Industrial metrology: 2019: $9.6; 2024: $13.7; 6.0% CAGR

*Various reports contained different starting and ending years. TMD editors applied projected growth rates to calculate 2019 and 2024 sales numbers for these reports.