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The global smart manufacturing market reached a value of US$ 259.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 527.3 Billion by 2027, exhibiting a CAGR of 12.5% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Smart manufacturing (SM) is a technology-driven approach that relies on internet-connected machinery for monitoring the production process. It also identifies opportunities for automating operations and using data analytics to improve the overall manufacturing performance. SM solutions help manufacturing engineers and data analysts identify failures in specific parts and undertake preventive maintenance to avoid unplanned downtime on devices. As a result, these solutions find extensive application in the manufacturing, automotive, and defense and aerospace industries around the world.
Significant growth in the manufacturing sector on account of automation and digitization represents one of the key factors favorably impacting the market. Besides this, a considerable rise in the demand for knowledge-based manufacturing and connected supply chains that are equipped with sensing, advanced control, modeling, and simulation capabilities is also contributing to the market growth. Apart from this, SM solutions offer a wide range of benefits, such as dynamic production and real-time optimization. These solutions also reduce accidents, cycle times, and maintenance costs. In line with this, the growing concerns about uncertainties in the supply of raw materials and energy, intense competition and rising operational costs have resulted in the increasing investment in SM solutions to boost the productivity and efficiency of enterprises. Furthermore, the increasing adoption of cloud platforms and the Internet of Things (IoT), coupled with the rapid industrial growth in emerging economies, is anticipated to create lucrative opportunities for market players across the globe.
IMARC Group provides an analysis of the key trends in each sub-segment of the global smart manufacturing market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, technology and end use.
Breakup by Component:
Breakup by Technology:
Breakup by End Use:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 3D Systems Inc., ABB Ltd., Emerson Electric Co., Fanuc Corporation, General Electric Company, Honeywell International Inc., Mitsubishi Electric Corporation, Robert Bosch GmbH, Rockwell Automation Inc., Schneider Electric SE, Siemens AG and Yokogawa Electric Corporation.
|Base Year of the Analysis||2021|
|Segment Coverage||Component, Technology, End Use, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||3D Systems Inc., ABB Ltd., Emerson Electric Co., Fanuc Corporation, General Electric Company, Honeywell International Inc., Mitsubishi Electric Corporation, Robert Bosch GmbH, Rockwell Automation Inc., Schneider Electric SE, Siemens AG and Yokogawa Electric Corporation|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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