Global Smart Manufacturing Market was valued US$186.45 Bn in 2018 and is expected to reach US$ XX Bn by 2026, at a CAGR of XX % during a forecast period.
Global Smart Manufacturing Market
Major factors driving the growth of the smart manufacturing market include Industry 4.0, rising use of industrial automation in manufacturing, government investments supporting industrial automation, increasing emphasis on regulatory compliances, increased complexities in the supply chain, and growing demand for software systems that reduce time and cost. Industrial communication is anticipated to hold the XX% share of the smart manufacturing market for information technology. However, threats related to cybersecurity, complexities in implementing smart manufacturing systems, lack of awareness about benefits of adopting information and enabling technologies, and lack of skilled workforce pose challenges to the growth of the market.
The global smart manufacturing market is segmented into a component, technology, end-user, and region. In terms of component, the smart manufacturing market is segmented into hardware, software, and services. Based on technology, the smart manufacturing market is segmented into machine execution systems, programmable logic controller, enterprise resource planning, SCADA, discrete control systems, human-machine interface, machine vision, 3d printing, product lifecycle management, and plant asset management. On the basis of end-user, the smart manufacturing market is segmented into automotive, aerospace & defense, chemicals & materials, healthcare, industrial equipment, electronics, food & agriculture, oil & gas, others. Region wise market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
In terms of technology, 3D printing segment is anticipated to witness the highest growth over the forecast period owing to its large-scale adoption in the design process and agile product iterations. An increasing demand for industrial automation coupled with the growing importance of legal and regulatory compliance is also driving the market growth.
Based on component, the software segment is quite developed as several solutions have already been in use for many years. The solutions include manufacturing execution systems, product lifecycle management, and enterprise resource planning. However, the modernization of these systems and the growth of analytics and AI-enabled systems are projected to drive the segment. The need for technological implementation expertise are estimated to aid the growth of services segment over the forecast period.
The smart manufacturing market in the Asia Pacific is estimated to grow at the XX% CAGR globally from 2018 to 2026. The region is witnessing a flow in the deployment of smart manufacturing market. Rapid industrialization in the Asia Pacific has boosted the manufacturing sector in the Asia Pacific.
The key players operating in the Global Smart Manufacturing Market are Siemens, General Electric, Rockwell Automation, Schneider, Honeywell International Inc., Emerson Electric, and Fanuc, among others.
The objective of the report is to present a comprehensive analysis of the Global Smart Manufacturing Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors in the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Smart Manufacturing Market dynamics, structure by analyzing the market segments and project the Global Smart Manufacturing Market size. Clear representation of competitive analysis of key players by End-User Industry, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Smart Manufacturing Market make the report investor’s guide.
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Scope of the Global Smart Manufacturing Market
Global Smart Manufacturing Market by Component
Global Smart Manufacturing Market by Technology
• Machine Execution Systems
• Programmable Logic Controller
• Enterprise Resource Planning
• Discrete Control Systems
• Human Machine Interface
• Machine Vision
• 3D Printing
• Product Lifecycle Management
• Plant Asset Management
Global Smart Manufacturing Market by End-User
• Aerospace & Defense
• Chemicals & Materials
• Industrial Equipment
• Food & Agriculture
• Oil & Gas
Global Smart Manufacturing Market by Geography
• North America
• Middle East & Africa
• Latin America
Key Players operating in the Global Smart Manufacturing Market
• 3D Systems
• Universal Robots
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