Smart manufacturing is the process which converts traditional factories from cost centres into profit centres so that progressive businesses will deliberately invest to increase sales. Smart manufacturing technologies use the best of IT and operating technologies (OT). The inventors of smart manufacturing technologies have joined both the processes to generate an intelligent optimization and collection of physical, business, and digital methods for ironing out crumples in the value chain of manufacturing. These processes also use human ingenuity with data technology to generate manufacturing intelligence for completing optimum results. Adoption of these knowledges has completely transformed the ways of selling products, manufacturing and shipping.
The enormous amount of manufacturing actions in past few years has made it extremely difficult for multinational administrations to efficiently manage their value chain. Therefore, several companies are outsourcing their manufacturing processes to third parties, who offer smart manufacturing services and as a result, has boosted the overall market. Additionally, regional expansion is a crucial strategy for many organizations. In order to achieve this, MNCs have invested in distribution centres at planned locations around different parts of the world. These centres need active smart manufacturing services, thus fuelling the demand created for smart manufacturing. The market is also flourishing due to the application of advanced and innovative digitization in developing smart manufacturing technologies such as the supervisory controller, programmable logic controller and data acquisition.
The global smart manufacturing market is segmented on the basis of technology into manufacturing execution system (MES), supervisory controller and data acquisition (SCADA), programmable logic controller (PLC), enterprise resource planning (ERP), distributed control system (DCS), machine vision and human machine interface (HMI). Out of these, the enterprise resource planning is the most popularly used smart manufacturing technology all over the world. The productive economic development of several countries around the globe and easy social integration of this technology have enhanced its adoption rate in the previous few years. The booming aerospace and defence sector is also projected to take up enterprise development solutions for advancement in its manufacturing processes, thereby lending a splendid impetus on the technology segment.
On the basis of region, the global smart manufacturing market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa (MEA), and Latin America. Among all the regions, Asia-Pacific held the largest share in the overall market in terms of revenue, closely followed by North America, in the same year. The research specifies that North America and Asia-Pacific will continue to hold a leading stance in the complete market as both these regions will offer profitable opportunities to the smart manufacturing solution providers. The increasing pressure by governments of different developing economies to focus on manufacturing activities is expected to build a strong instance for the growth of smart manufacturing market in Asia-Pacific. The region is expected to witness a steady acceptance of smart manufacturing technology in automotive industry and in the production of consumer electronics, which is expected to stir the demand for this technology in near years. Some of the leading players operating in the global smart manufacturing market are Siemens AG, Honeywell International, Inc., Johnson Controls, Inc., Emerson Electric Company, ABB Ltd., General Electric Company, Schneider Electric, Rockwell Automation, Fanuc Corp., Atos SE and many others.
Market by Technology
· Manufacturing execution system (MES)
· Supervisory controller and data acquisition (SCADA)
· Distributed control system (DCS)
· Programmable logic controller (PLC)
· Enterprise resource planning (ERP)
· Machine vision
· Human machine interface (HMI)
Market by Geography
· North America
o Rest of Europe
o Rest of Asia-Pacific
· Latin America
o Rest of Latin America
· Middle East and Africa (MEA)
o South Africa
o Saudi Arabia
o Rest of MEA