According to a new market report pertaining to the global electric discharge machine (EDM) market published by Transparency Market Research the global electric discharge machine market is projected to reach a value of US$ 6.1 Bn by 2027. The electric discharge machine market is expected to expand at a CAGR of ~6% from 2019 to 2027, in terms of volume. Growth of the electric discharge machine market can be attributed to increasing need for EDM for the development of high end machining designs in various industries. Asia Pacific is anticipated to lead the global electric discharge machine market, followed by North America during the forecast period.
Electric Discharge Machine Market to Witness Growth due to Future Dominance of Industry 4.0
Industry 4.0, widely known as smart factory, is considered the fourth era of industry that merges automation and computing, which can drive the manufacturing sector to move from machine tools to high quality assurance tools. Industry 4.0 includes cyber-physical systems, factory simulation, autonomous robots, cloud computing, Internet of Things (IoT), cognitive computing, and additive manufacturing. Industry 4.0 can help simulate, design, and take care of physical processes in manufacturing factories with electric discharge machines for cost-effectiveness. It also combines an array of modern automation, intelligence, manufacturing technologies, and data exchange.
Moreover, electric discharge machines (EDM) are preferred in the manufacturing of high efficiency machines or equipment in manufacturing factories to save labor cost (as compared to conventional milling practices), while enhancing the quality of products, which can be used to meet the needs in Industry 4.0 across the world.