The global Smart Manufacturing market is projected to grow from USD 259.6 Bn in 2021 to 811.4 Bn by 2030, at a CAGR of 13.5% in forecast period, 2022-2030.
The increased adoption of Smart Manufacturing in the Next Generation industry is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Smart Manufacturing also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Smart Manufacturing in many sectors also boosts the market growth during the forecast period.
Smart Manufacturing is a new worldwide industrial approach that focuses largely on the evolution of the most recent technology and solutions in terms of linked production methods during the manufacturing process. In other words, it entails installing systems in factories that connect equipment to one another as well as the Internet in order to assure optimal and scalable control of production processes.
Smart Manufacturing Market Research Report” was just released by Market Research Community. It is divided into several categories, including 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), Industry (Discrete Industry, Automotive, Transportation, Industrial machinery, Medical devices, Semiconductor and Electronics/High-Tech, Others (Aerospace and Defense, etc.)), Process Industry(Pharmaceuticals, Mining and Metals, Chemicals, Pulp and Paper, Others (Cable, etc.)), and companies (Honeywell International, Inc., Mitsubishi Electric Corporation, Robert Bosch GmbH, Rockwell Automation, Inc., Schneider Electric, Siemens AG, HP Development Company, L.P., ABB, Emerson Electric Co., General Electric), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 13.5 %, over the forecast period of 2022–2030
|Report Attributes||Report Details|
|Market Size in 2030 (USD Billion)||811.4 Billion|
|CAGR (2022-2030)||13.5 %|
|By Component||Hardware, Software, Services|
|By 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|
|By Industry||Discrete Industry, Automotive, Transportation, Industrial machinery, Medical devices, Semiconductor and Electronics/High-Tech, Others (Aerospace and Defense, etc.)|
|By Process Industry||Pharmaceuticals, Mining and Metals, Chemicals, Pulp and Paper, Others (Cable, etc.)|
|By Geography||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Key Players||Honeywell International, Inc., Mitsubishi Electric Corporation, Robert Bosch GmbH, Rockwell Automation, Inc., Schneider Electric, Siemens AG, HP Development Company, L.P., ABB, Emerson Electric Co., General Electric|
The COVID-19 pandemic has had a substantial negative influence on the Smart Manufacturing market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
Honeywell International, Inc., Mitsubishi Electric Corporation, Robert Bosch GmbH, Rockwell Automation, Inc., Schneider Electric, Siemens AG, HP Development Company, L.P., ABB, Emerson Electric Co., General Electric
Market Segment Analysis:
- 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
By Enterprise Size
- Large Enterprises
- Small & Medium Enterprises
- Discrete Industry
- Industrial machinery
- Medical devices
- Semiconductor and Electronics/High-Tech
- Others (Aerospace and Defense, etc.)
By Process Industry
- Mining and Metals
- Pulp and Paper
- Others (Cable, etc.)
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2021, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Smart Manufacturing industries in the region.
Key Smart Manufacturing Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Smart Manufacturing Market segments.
– Largest Market Share Held by Industry to Industry for Smart Manufacturing
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Smart Manufacturing Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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