Acumen research and consulting, estimates that global smart manufacturing market is expected to reach the market value of around US$ 582 Bn by 2028 and are anticipated to grow at a CAGR of around 13.3% in terms of revenue during the forecast period 2021 - 2028.
|Market||Smart Manufacturing Market|
|Analysis Period||2016 - 2026|
|Forecast Data||2019 - 2026|
|Segments Covered||By Information Technology, By Enabling Technology, By Industry, and By Geography|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||ABB Ltd., Schneider Electric, Siemens AG, General Electric Company, Emerson Electric Company, Mitsubishi Electric, Yokogawa Electric Corporation, Honeywell International Inc., FANUC Corporation Rockwell Automation Inc. and others.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
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Smart manufacturing is a method to automate manufacture of products and transaction process. Intelligent manufacturing requires the use of automation devices and the purpose of this phase is to use information technology to support the global economy. This output reduces the workload and makes the process more efficient.
The major driving factors that are supporting the growth of global smart manufacturing market are due to improved focus on increasing efficiency and visibility in the supply chain. Furthermore, the market development is further driven by the introduction of emerging technology such as 3D printing, production execution systems (MES), and plant asset management devices to small and medium businesses. Some of the most important factors for smart manufacturing development are the positive influence of policy programs and investments in supporting smart manufacturing. It is anticipated it will continue to boost growth in both developed and developing economies. For instance, the China 2025 Made in China Plan will spend more than US$3 trillion in advanced manufacturing.
The market research study on “Smart Manufacturing Market (By Information Technology: Human-Machine Interface, Enterprise Manufacturing Intelligence, Plant Asset Management, Manufacturing Execution System, Industrial Communication, Warehouse Management System; By Enabling Technology: Industrial 3D printing, Collaborative robot
IIOT, AI in manufacturing, Machine condition monitoring, Industrial machine vision, Industrial cyber security, Digital twin, Automated guided vehicle, Blockchain in manufacturing, AR and VR in manufacturing; By Industry: Process Industry (Oil & Gas, Food & Beverages, Pharmaceuticals, Chemicals, Energy & Power, Metals & Mining, Pulp & Paper, Others), Discrete Industry (Automotive, Aerospace & Defense, Semiconductor & electronics, Medical Devices, Machine Manufacturing, Others)) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2021 - 2028” offers detailed insights on the global smart manufacturing market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report provides insights on global smart manufacturing market are information technology, enabling technology, industry and major geographic regions. The smart manufacturing market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.
On the based on geography level, the smart manufacturing industry in North America, owing to advances on next-generation technology in the U.S. and Canada, is expected to dominate the overall smart manufacturing market. The supply of enhanced production capability is anticipated in North America to improve the intelligent manufacturing industry. Further, over the last couple of years, the market has seen the extensive use of IoT and highly reliable low-latency communications technologies. These factors propel demand in North America smart manufacturing market. Due to big technical advancements in automotive and industrial industries, the smart manufacturing market has strong potential in China. It is expected that the Europe and Asia Pacific will be one of the target markets for smart industry participants. The smart manufacturing market in Latin America is expected to grow during the projected period at a highest CAGR. Due to growing penetration of additive manufacturing components in the oil & gas industry, it is expected that the MEA smart manufcaturing demand will grow in strong CAGR.
Major players included in this report ABB Ltd., Schneider Electric, Siemens AG, General Electric Company, Emerson Electric Company, Mitsubishi Electric, Yokogawa Electric Corporation, Honeywell International Inc., FANUC Corporation Rockwell Automation Inc. and others.
The global smart manufacturing market is segmented as below:
Smart Manufacturing Market By Information Technology
Enterprise Manufacturing Intelligence
Plant Asset Management
Manufacturing Execution System
Warehouse Management System
Smart Manufacturing Market By Enabling Technology
Industrial 3D printing
AI in manufacturing
Machine condition monitoring
Industrial machine vision
Automated guided vehicle
Blockchain in manufacturing
AR and VR in manufacturing
Smart Manufacturing Market By Industry
Smart Manufacturing Market By Geography
• Rest of Europe
• South Korea
• Rest of Asia-Pacific
• Rest of Latin America
Middle East & Africa
• South Africa
• Rest of Middle East & Africa
Smart manufacturing is a method to automate manufacture of products and transaction process.
The global smart manufacturing market is poised to grow at a CAGR of around 13% from 2020 to 2027.
The global smart manufacturing market size is projected to hit around US$ 573 Bn by 2027.
The major driving factors that are supporting the growth of global smart manufacturing market are due to improved focus on increasing efficiency and visibility in the supply chain.
Due to big technical advancements in automotive and industrial industries, the smart manufacturing market has strong potential in China.
The smart manufacturing market in Latin America is expected to grow during the projected period at a highest CAGR.
Major players included in the smart manufacturing market report ABB Ltd., Schneider Electric, Siemens AG, General Electric Company, Emerson Electric Company, Mitsubishi Electric, Yokogawa Electric Corporation, Honeywell International Inc., FANUC Corporation Rockwell Automation Inc. and others.