Global Smart Manufacturing Market, By Component (Hardware, Software, Services), Technology (Machine Execution Systems, Programmable Logic Controller, Enterprise Resource Planning, SCADA, Discrete Control Systems, Human Machine Interface, Machine Vision, 3D Printing, Product Lifecycle Management, Plant Asset Management), End-User (Automotive, Aerospace & Defense, Chemicals & Materials, Healthcare, Industrial Equipment, Electronics, Food & Agriculture, Oil & Gas, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Smart manufacturing market will grow at a CAGR of 11.70% in the forecast period of 2021 to 2028. Rising emphasis on industrial automation in manufacturing processes is an essential factor driving the smart manufacturing market.
Smart manufacturing is a type of method of manufacturing which aims at optimizing the concept, product manufacturing and transaction process. Smart manufacturing involves the use of automation machinery and the goal to be achieved through this process is the use of information technology to use it for the advantage of reaching a global market. This manufacturing decreases the workload and makes for more flexibility in the entire process.
Growing adoption of industry is a crucial factor accelerating the market growth, also rising government involvement in supporting industrial automation, rising emphasis on regulatory compliances, rising complexities in supply chains, increasing demand for software systems that reduce time and cost, increased adoption of automated machinery in a number of manufacturing industries, rising amount of government investments currently taking place in support of smart manufacturing, rising popularity of enhanced factory technologies in MEA, increased labor cost in North America and Rise in SMEs and their growing demand for automation in Europe and Asia Pacific are the major factors among others boosting the smart manufacturing market. Moreover, increased adoption of IoT and cloud platforms, rising integration of different solutions to provide improved performance and rapid industrial growth in emerging economies will further create new opportunities for smart manufacturing market in the forecast period mentioned above.
However, increased investments and costs involved in implementing smart manufacturing solutions, rising lack of standardization among equipment manufacturers and in connectivity protocols, rising constant need for software upgrades and rising low adoption of technologies due to technical issues are the major factors among others which will curtail the market growth, while rising threats related to cybersecurity, rising complexity in implementation of smart manufacturing technology systems and lack of awareness about benefits of adopting information and enabling technologies will further challenge the smart manufacturing market in the forecast period mentioned above.
This smart manufacturing market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on smart manufacturing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Smart Manufacturing Market Scope and Market Size
Smart manufacturing market is segmented on the basis of component, technology and end-user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis 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.
- The smart manufacturing market is also segmented on the basis of end-user into automotive, aerospace and defense, chemicals and materials, healthcare, industrial equipment, electronics, food and agriculture, oil and gas and others.
Global Smart Manufacturing Market Scope Country Level Analysis
Smart manufacturing market is analysed and market size, volume information is provided by country, component, technology and end-user as referenced above.
The countries covered in the smart manufacturing market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific dominates the smart manufacturing market due to the rising presence of a large number of smart manufacturing companies stimulated by the need to compete at international levels, increasing emphasis on regulatory compliances, hiking complexities in supply chains and increasing demand for software systems that reduce time and cost in this region.
The country section of the smart manufacturing market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Smart Manufacturing Market Share Analysis
Smart manufacturing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to smart manufacturing market.
The major players covered in smart manufacturing market report are 3D Systems Inc., ABB, Cisco, Daifuku Co. Ltd., Stratasys Ltd., Cognex Corporation, Google, Intel Corporation, KEYENCE CORPORATION, NVIDIA Corporation, PTC, SAMSUNG, Sony Corporation, Universal Robots, Emerson Electric Co., GENERAL ELECTRIC, Honeywell International Inc., IBM Corporation, Oracle, Rockwell Automation Inc., SAP SE, Schneider Electric, Siemens AG, Yokogawa Electric Corporation, Mitsubishi Electric Corporation, FANUC CORPORATION, Texas Instruments Incorporated, and Robert Bosch GmbH among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Smart Manufacturing Market
Data Bridge Market Research is a leader in consulting and advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include production cost analysis, trade route analysis, price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), import export and grey area results data, literature review, consumer analysis and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.