Optimism Increases with Smarter Manufacturing
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Manufacturing contributes about 15.2 percent of global gross domestic product, making the segment an important part of the global economy. Examining the sector today and in the future, the value added in the manufacturing market represents over $14 trillion in 2025 and is projected to increase at a compound annual growth rate of 1.46 percent through 2029.
Earlier this year Revalize—provided a unique insight on what producers are prioritizing, their challenges, and the future of manufacturing. The company whose offerings allows manufacturers to design, model, develop, and sell their products, surveyed 500 CPQ, PLM, and engineering modeling or simulation professionals in the United States and Germany.
“Optimism is evident,” summed up Michael Umbach, chief product officer at Revalize. This confidence is not only suggested by plans by companies to increase headcount but also other key metrics.
“Ninety one percent of organizations plan to adopt new technologies, tools, or software in the next 12 months,” he explained. And when you compare their budget for this year to last year, “70 percent have increased their budget for software.” This indicates a strong commitment to growth and innovation, which is essential to stay competitive in the rapidly evolving manufacturing landscape, he said.
Earlier this year Revalize—provided a unique insight on what producers are prioritizing, their challenges, and the future of manufacturing. The company whose offerings allows manufacturers to design, model, develop, and sell their products, surveyed 500 CPQ, PLM, and engineering modeling or simulation professionals in the United States and Germany.
Manufacturer optimism
“Optimism is evident,” summed up Michael Umbach, chief product officer at Revalize. This confidence is not only suggested by plans by companies to increase headcount but also other key metrics. “Ninety one percent of organizations plan to adopt new technologies, tools, or software in the next 12 months,” he explained. And when you compare their budget for this year to last year, “70 percent have increased their budget for software.” This indicates a strong commitment to growth and innovation, which is essential to stay competitive in the rapidly evolving manufacturing landscape, he said.