Smart Manufacturing Market size was valued at US$ 299.70 Bn. in 2022 and the total Smart Manufacturingrevenue is expected to grow at 13.7 % from 2023 to 2029, reaching nearly US$ 736.22 Bn.
Smart Manufacturing Market Overview
Maximize Market Research’s new report on the Global Smart Manufacturing Market 2023-2029 is a valuable resource for understanding the market’s competitors and gaining key business insights. The report provides a comprehensive overview of the market, including its value chain structure, geographical analysis, applications, market size, and forecast (2023-2029). This information can be used to make more informed decisions about the current and future state of the global Smart Manufacturing market.
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Smart Manufacturing Market Scope
The report focuses on the key factors that are driving and restraining the growth of the Smart Manufacturing market, as well as the competitive landscape and future prospects. It provides insights into the current and future market trends, demand chain, supply chain, and sales, as well as recent changes in the market.
The report also includes company profiles of the key players in the Smart Manufacturing market, including their overview, financial performance, product portfolio, and strategies. It also uses SWOT and PESTLE analysis to provide a comprehensive view of the market.
Smart Manufacturing Market Segmentation
Through Industry Due to changing client preferences and inefficiencies in traditional procedures, the automotive sector category is projected to increase at a compound annual growth rate (CAGR) of xxx% over the course of the projection period.Technology developments, evolving consumer expectations, and the enactment of laws pertaining to the automobile industry are all contributing factors to the growing complexity of the automotive manufacturing industry. Modern, very technologically advanced accessories are automobiles. They need to be produced utilizing cutting-edge technical methods and procedures. The automotive industry undergoes infrastructural changes as a result of technological advancements like gas and electric vehicles. In addition, the majority of the industry’s critical processes are now operated by machines and equipment instead of humans, which leads to the adoption of smart manufacturing technologies.
According to Component sector, during the projected period, the software sector is anticipated to increase at a CAGR of xx%. Because software is essential to full automation, it serves as the backbone of the industry. Error risk is reduced when advanced software helps operate AI, drones, and other technologies without human intervention. With the aid of software, the market may see notable advancements in research and development for fresher, more adaptable products.
The hardware market is anticipated to expand at a compound annual growth rate (CAGR) of x. The cutting-edge technology needs compatible, high-level hardware to function. The execution of complicated software requires modern technology. Hardware used in manufacturing facilities is adaptable, requires less electricity to operate.
Because of the industry’s need for smart manufacturing solutions, the discrete industry is predicted to expand quickly. Discrete manufacturing is a fast-moving sector because manufacturers are expanding the level of automation made possible by artificial intelligence (AI), machine learning, real-time data analytics, and high-speed computing in the cloud and at the edge. These and other contemporary technologies link the digital and physical realms through IIoT. At the heart of the Fourth Industrial Revolution, or Industry 4.0, the Internet of Things (IoT) enables a wide range of complex industrial processes, starting with data gathering and processing at the edge. Furthermore, the product industry is anticipated to expand due to the growing demand for superior hardware in industries like mining and metals, chemicals, and medicines.
1 Global Smart Manufacturing Market, by Component (2022-2029)
• Hardware
• Software
• Solution
o Industrial 3D Printing
o Programmable Logic Controller (PLC)
o Product Lifecycle Management (PLM)
o Manufacturing Execution System (MES)
o Robotic Process Automation (RPA)
o Remote Monitoring software
o Supervisory Controller and Data Acquisition (SCADA)
o Others (Energy Management Systems, Fleet Management Solutions, etc.)
• Services
o Professional Services
o Managed Services
2 Global Smart Manufacturing Market, by Enterprises Size (2022-2029)
• Large Enterprises
• Small & Medium Enterprises
3 Global Smart Manufacturing Market, by Deployment (2022-2029)
• Cloud
• On-premises
4 Global Smart Manufacturing Market, by Industry (2022-2029)
• Process Industry
o Oil & Gas
o Food & Beverages
o Pharmaceuticals
o Chemicals
o Energy & Power
o Metals & Mining
o Pulp & Paper
o Others
• Discrete Industry
o Automotive
o Aerospace & Defense
o Semiconductor & Electronics
o Medical Devices
o Machine Manufacturing
o Others
o Mining
o Construction
o Oil & Gas
o Others
5 Global Smart Manufacturing Market, by Enabling Technology (2022-2029)
• Industrial 3D Printing
• AI in Manufacturing
• Industrial Cyber security
• Industrial Machine Vision
• Industrial Sensors
• Digital Twins
• Robots
• Automated Guided Vehicles
• Machine Condition Monitoring
• Artificial Reality & Virtual Reality
• 5G Industrial IoT
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Smart Manufacturing Market Key Players
1. Schneider Electric SE
2. ABB Ltd.
3. Cognex Corporation
4. Siemens AG
5. Emerson Electric Co.
6. Cisco Systems, Inc.
7. PTC, Inc.
8. Amazon Web Services, Inc.
9. SAP SE
10. Robert Bosch
11. IBM
12. Honeywell International Inc.
13. Rockwell Automation
14. General Electric
15. Hitachi
16. Plex
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Smart Manufacturing Market Regional Analysis
The global Smart Manufacturing Market’s growth trend is examined in depth throughout the report. It divides the major 5 regions, such as North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa, which have global dominance in the Smart Manufacturing market.
Key Questions answered in the Smart Manufacturing Market Report are:
- What are the Smart Manufacturing market segments?
- What are the global trends in the Smart Manufacturing Market?
- What are the major challenges that the Smart Manufacturing Market could face in the future?
- How is the intervention from regulatory authority shaping the Smart Manufacturing Market?
- Who are the Smart Manufacturing key players in the industry?
- What growth strategies are the players considering to increase their presence in Smart Manufacturing Market?
- Which region held the largest Smart Manufacturing market share in 2022?
- Which regional Smart Manufacturing market is expected to grow rapidly during the forecast period?
Key offerings:
- A detailed Market Overview
- Market Share, Size & Forecast by Revenue | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis of segments and sub-segments
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
- Recommendations
- Key Findings
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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