The smart manufacturing market will reach USD 658.41 billion by

Pune, India, March 23, 2022 (GLOBE NEWSWIRE) — The world smart manufacturing market the size was 249.56 billion USD in 2021. The market should go from $277.81 billion in 2022 at $658.41 billion in 2029 at a CAGR of 13.1% during the period 2022-2029.

This information is provided by Fortune Business Insight™in his report, titledSmart manufacturing market share, 2022-2029.”

The development of technologies such as artificial intelligence (AI), cloud, big data and machine learning (ML) are expected to sharpen smart manufacturing skills.

Impact of COVID-19

Increased Government Investment to Accelerate Implementation of Smart Manufacturing Amid Pandemic

The COVID-19 pandemic is influencing the global economy in every industry. The virus has created serious spaces between manufacturing units and the supply chain. In order to overcome the pandemic, establishments are rebuilding their business continuity models, spending on progressive manufacturing and supply chain models, and discovering opportunities for automation to reduce the influence of the COVID-19 virus on production units. manufacturing in the years to come.

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Report cover

We have offered a comprehensive review of the Smart Manufacturing market along with ongoing trends and upcoming anticipations to usher in immediate investment gains in this report. Moreover, a thorough examination of all future opportunities, apprehensions, competitors or navigational aspects are also stated in the report. A methodical detailed regional review is presented. The effects of COVID-19 have been added to the report to help stakeholders and professionals better understand the dangers. Major players in the market are recognized and their tactics to increase market growth are mentioned in the report.

Segmentation

The solutions sub-segment will dominate the component category supported by 3D industrial growth

On the basis of component, the market is categorized into solutions and services. The solution is expected to gain significant market share over the forecast period. Due to the growth of industrial 3D printing which is attributed to the growing demand of IoT for advanced automation processes in the manufacturing industry.

Based on deployment, the market is categorized into cloud and on-premises.

Based on company size, the market is segmented into large enterprises and small and medium enterprises.

Based on industry, the market is segmented into discrete industry and process industry. Discrete industry is subdivided into automotive, transportation, industrial machinery, medical devices, semiconductors and electronics/high tech, and others (aerospace and defense, etc.).

The smart manufacturing market has been analyzed across five major regions, North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.

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Determining factors

Development of 5G technologies and investment in new network infrastructure to support growth

The advent of the 5G era is expected to change current Internet of Things (IoT)-based uses harnessed in smart manufacturing. 5G has the potential to make a revolutionary impression on future designs of IoT ecosystems, especially in the areas of scalability, latency, reliability, security, and level of individual management of factors. connectivity. As the areas of IoT use expand, more progressive use cases requiring increased network skills are also developing. Examples of such capabilities involve the support of embedded sensors, more precise device installation, and high-speed device movement.

Regional outlook

North America will take second place due to increased spending on advanced manufacturing technologies

North America held the second largest smart manufacturing market share. The growth of this region is attributed to increased spending on progressive manufacturing technologies in countries like Canada and the United States. Technical advancements, the ability to replace printing equipment, and falling equipment costs have further spurred the implementation of the concept of smart manufacturing.

Europe is expected to grow at a steady pace over the forecast period, owing to the spread of Internet of Things (IoT) in countries such as Germany, Italy, Spain and Europe. others that balance the growth of the smart manufacturing market in the region.

Asia-Pacific is estimated to witness rapid growth during the forecast period owing to the encouraging ecosystem of countries such as Japan, India, and Australia; SMEs are expected to fuel the use of smart manufacturing solutions.

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Competitive landscape

Key players are introducing new technologies to boost market growth

The key players operating in the market are adopting numerous tactics to strengthen their position in the market as leading companies. One of these main strategies is to recruit companies to drive brand value among users. Another essential approach is to frequently introduce users to technologically advanced products introduced with a thorough examination of the market and its users.

industry development

September 2021: Honeywell International, Inc. unveiled “Smart Flexible Depalletizer” robotic technology to reduce labor-intensive work. This technology increases warehouse efficiency and decreases labor damage.

Companies Covered in the Smart Manufacturing Market Report

  • HP Development Company, LP (California, USA)
  • ABB (Zurich, Switzerland)
  • Emerson Electric Co. (Missouri, USA)
  • General Electric (Massachusetts, USA)
  • Honeywell International, Inc. (North Carolina, USA)
  • Mitsubishi Electric Corporation (Tokyo, Japan)
  • Robert Bosch GmbH (Stuttgart, Germany)
  • Rockwell Automation, Inc. (Wisconsin, USA)
  • Schneider Electric (France, Europe)
  • Siemens AG (Munich, Germany)

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Main table of contents:

  • introduction
    • Definition, by segment
    • Methodology/Research Approach
    • Data sources
  • Abstract
  • Market dynamics
    • Macro and micro economic indicators
    • Drivers, constraints, opportunities and trends
    • Impact of COVID-19
      • Short term impact
      • Long term impact
  • Competition landscape
    • Business strategies adopted by key players
    • Consolidated SWOT analysis of key players
    • Overview and Market Share Analysis of Global Key Smart Manufacturing Players, 2021
    • Porter’s Five Forces Analysis
  • Global smart manufacturing market size estimates and forecasts, by segments, 2018-2029
    • Main conclusions
    • Per component (USD)
      • Solution
        • Industrial 3D printing
        • Programmable logic controller (PLC)
        • Product Lifecycle Management (PLM)
        • Manufacturing Execution System (MES)
        • Robotic Process Automation (RPA)
        • Remote monitoring software
        • Supervision and Data Acquisition Controller (SCADA)
        • Others
      • Services
        • Professional services
        • Managed Services
    • Per deployment (USD)
    • By business size (USD)
      • Small and medium enterprises
      • Large companies
    • By industry (USD)
      • Discreet industry
        • Automotive
        • Transport
        • Industrial machinery
        • Medical equipement
        • Semiconductor and Electronics/High-Tech
        • Others
      • Process industry
        • Medications
        • Mining and metals
        • Chemical products
        • Pulp and paper
        • Others
    • By region (USD)
      • North America
      • Latin America
      • Europe
      • Middle East and Africa
      • Asia Pacific
  • North America smart manufacturing market size estimates and forecast, by segments, 2018-2029
  • Latin America smart manufacturing market size estimates and forecasts, by segments, 2018-2029
  • Europe smart manufacturing market size estimates and forecasts, by segments, 2018-2029
  • Asia-Pacific smart manufacturing market size estimates and forecast, by segments, 2018-2029

TOC Continued…!

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Take a look at related research information:

Artificial Intelligence (AI) in the Manufacturing Market Analysis of the size, share and impact of COVID-19, by offer (hardware, software and services), by technology (computer vision, machine learning, natural language processing), by application (process control , Production Planning, Predictive Maintenance and Machinery Inspection), by Industry (Automotive, Medical Devices, Semiconductors and Electronics) and Regional Forecast, 2020-2027

Industry 4.0 market Analysis of the size, share and impact of COVID-19, by application (industrial automation, smart factory and industrial IoT), by vertical sector (manufacturing, energy and utilities, automotive, oil and gas, aerospace and defence, electronics and consumer goods, and others), and regional forecasts, 2021-2028

Internet of Things (IoT) in the Manufacturing Market Size, Share and Industry Analysis, By Platform (Device Management, Application Management, Network Management), By Software & Services (Software Solution & Services), By Application (Predictive Maintenance, Tracking and Asset Management, Logistics and Supply Chain Management, Real-Workforce Tracking and Management, Emergency and Incident Management and Others) and Regional Forecast, 2019-2026

Big Data in the Manufacturing Industry Size, Share, and Industry Analysis, By Offer (Solution & Services), By Deployment (On-Premise, Cloud-Based, and Hybrid), By Application (Customer Analysis, Operational Analysis, Quality Assessment, supply chain management, production management and others) and regional forecast, 2019 – 2026

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