openPR Logo
Press release

Smart Manufacturing Platform Market Future Developments, Top Companies, Industry Size and Growth Analysis | ABB (Switzerland), Siemens (Germany), Schneider Electric (France), IBM (US), PTC Inc. (US), SAP SE (Germany), Emerson Electric Co. (US), GENERAL EL

04-29-2021 01:02 PM CET | IT, New Media & Software

Press release from: ReportsnReports

Smart Manufacturing Platform Market with COVID-19 Impact, by type (Device Management, Connectivity Management, Application Enablement Platform), Application (Performance, Optimization, Asset & Condition Monitoring), Industry, Region - Global Forecast to 2026

#Download Free PDF Sample Brochure of report Global Smart Manufacturing Platform Market 2021 across with 257 Pages and in-depth TOC Analysis @ https://www.reportsnreports.com/contacts/requestsample.aspx?name=4367255

Major players profiled in this report are as follows: ABB (Switzerland), Siemens (Germany), Schneider Electric (France), IBM (US), PTC Inc. (US), SAP SE (Germany), Emerson Electric Co. (US), GENERAL ELECTRIC (US), and others.

“Smart manufacturing platform market to grow at CAGR of 18.0% from 2021 to 2026”

The global smart manufacturing platform market size is expected to grow from USD 5.8 billion in 2021 to USD 13.2 billion by 2026, at a CAGR of 18.0%. The growth of this market is mainly driven by growth in industrial automation, growing adoption of smart manufacturing platforms in automotive industry, increasing support from governments for industrial automation, and growing need for streamlined and automated data to boost productivity. However, factors such as lacked of skilled IoT-related workforce and requirement of maintenance attributed to frequent software upgradation are restraining the market growth.

"Device management platform to grow at highest CAGR during the forecast period”

The increasing number of IoT devices in the manufacturing plants has surged the necessity of collecting, analyzing, monitoring, and managing data generated from the devices to improve the company’s operational efficiency. The device management platform helps to manage data generated from the IoT devices that are connected to the manufacturing equipment. The data managed includes data transmitted from the IoT devices, any processed data from the backend, data related to software updates, predictive maintenance data, or any analyzed data of utmost importance in system functioning.

Place a Direct Purchase Order and Get Instant 20% Discount @ https://www.reportsnreports.com/purchase.aspx?name=4367255

“Process industry dominated the smart manufacturing platform market in 2020.”

The process industry includes oil & gas, chemical, energy and power, food & beverage; pharmaceutical; mining & metals industries; and others. With the emergence of Industry 4.0 and the Big Data movement gaining momentum, industries are now presented with unique opportunities in terms of key enablers for boosting their performance to a new level. The power & energy dominates the smart manufacturing platform market and is estimated to continue its dominance over the forecast period. The power & gas industry faces various challenges such environmental impact and scarcity associated with conventional source might lead to a probable energy crisis in the coming years. Hence, optimization in the energy & power industry has become necessary to increase productivity, efficiency, and their utilization., which has increased the adoption of smart manufacturing platforms in the power &energy industry. Besides, the oil & gas industry faces various challenges such as unexpected downtime and an absence of synergy across different processes throughout the supply chain, which has increased the adoption of smart manufacturing platforms in the oil & gas industry, and thus the industry holds a significant share of the market.

“Market in APAC to grow at highest CAGR during the forecast period”

The growth of the region is attributed to the impressive development in industrialization for the last few years. Besides, increasing government support for the adoption of automation technologies and digitization is also responsible for the growth of the smart manufacturing platform market in the region. However, the rapid spread of the novel COVID-19 has resulted in disruptions in supply chain activities, revenue losses, and slowdown in production activities which have slightly impacted the growth of the market in the region in Q1 and Q2 of 2020, eventually impacting the economy. The manufacturers are focusing towards digitalization after the pandemic crisis, which has resulted into increased in the adoption of smart manufacturing platforms in various industry.

Research Coverage

In this report, the smart manufacturing platform market has been segmented based on type, organization size, application, industry, deployment type, and region. The smart manufacturing platform market based on type has been segmented into device management, connectivity management, application enablement platform. Based on the organization size, the market has been segmented into small & medium enterprises and large enterprises. Based on the application, the market has been segregated into performance optimization, asset and condition monitoring, and others. Based on industry the market is segmented into process industry and discrete industry, where the process industry is further segregated into oil & gas, power & energy, chemicals, pharmaceuticals, food & beverages, metals & mining, others; and discrete industry is further segmented into automotive, electronics & semiconductor, industrial manufacturing, medical devices, aerospace & defense, and others. Based on the deployment type, the market has been segment into cloud and on-premises. The study also forecasts the size of the market in four main regions—North America, Europe, APAC, and RoW.

Click Here to DOWNLOAD : https://www.reportsnreports.com/contacts/requestsample.aspx?name=4367255

Connect Us for more information at sales@reportsandreports.com or Call Us + 1 888 391 5441.

About Us: ReportsnReports.com is your single source for all market research needs. Our database includes 500,000+ market research reports from over 95 leading global publishers & in-depth market research studies of over 5000 micro markets.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Smart Manufacturing Platform Market Future Developments, Top Companies, Industry Size and Growth Analysis | ABB (Switzerland), Siemens (Germany), Schneider Electric (France), IBM (US), PTC Inc. (US), SAP SE (Germany), Emerson Electric Co. (US), GENERAL EL here

News-ID: 2277431 • Views: 278

More Releases from ReportsnReports

File Integrity Monitoring Market Size, Share, Demands, Trends, Key Players Analy …
“The growing concern of complying with stringent regulations across the globe is driving the file integrity monitoring (FIM) market” The File Integrity Monitoring market size is expected to grow from USD 515.3 million in 2017 to USD 986.1 million by 2022, at a Compound Annual Growth Rate (CAGR) of 13.86%. The market is driven by the increased need of organizations to protect the confidential information. Similarly, the stringent regulations across the
Smart Buildings Market Global Key Players Analysis- 75F (US), ABB (Switzerland), …
The smart buildings market is projected to grow from USD 66.3 billion in 2020 to USD 108.9 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 10.5% during the forecast period. Rising adoption of IoT-enabled building management system, rising awareness of space utilization, increased industry standards and regulations, and increase demand for energy efficient system. Rising adoption of IoT-enabled building management system and raising awareness of space utilization
Insurance Analytics Market with Covid-19 Impact, Key Players Analysis, Size, Sha …
“COVID-19 accelerated organizations to new customer engagement through digital experiences are set to drive the insurance analytics market.” The global insurance analytics market size is projected to grow from USD 8.8 billion in 2020 to USD 20.6 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 15.1% during the forecast period. Several insurance providers are accelerating investments in digitization and closing gaps in business continuity models. The integration of
Global Green Technology and Sustainability Market Size, Share, Demands, Trends, …
The global Green Technology and Sustainability market size to grow from USD 11.2 billion in 2020 to USD 36.6 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 26.6% during the forecast period. The increasing awareness related to environmental concerns and the growing consumer and industrial interest for the use of clean energy resources are driving the adoption of green technology and sustainability solutions and services in the

All 5 Releases


More Releases for CAGR

Catalase Market : Research Observes Strong CAGR Development
The "Global Catalase Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016 - 2024", report intends to offer a resourceful means to assess the Catalase Market and entails the all-inclusive analysis and upfront statistics with regards to the market. This new report is committed fulfilling the requirements of the clients by giving them thorough insights into the market. The Catalase Market report, titled Catalase Market, is expansive research
Citicoline Market | CAGR of 14.4%
The global Citicoline Market 2020 Report provides fine intelligence that helps market players to compete well against the tough competition on the basis of growth, sales and other various important factors. The research report lays stress on key growth opportunities and market trends apart from important market dynamics including market drivers and challenges. With the help of this report, involved parties can equip themselves to adapt along with the changes
Footwear Market : Research Observes Strong CAGR Development
The "Global Footwear Market Set for Rapid Growth, to Reach Around USD 320.44 Billion by 2023", report intends to offer a resourceful means to assess the Footwear Market and entails the all-inclusive analysis and upfront statistics with regards to the market. This new report is committed fulfilling the requirements of the clients by giving them thorough insights into the market. The Footwear Market report, titled Footwear Market, is expansive research
Xanthates Market CAGR to Grow at 4.7%
Persistence Market Research in its latest report projects that the global xanthates market will grow at a CAGR of 6.1% over the forecast period (2017-2025). Owing to Xanthates’ excellent mineral ore processing capabilities, its global sales have witnessed a significant rise in recent years. Mining complexity and declining ore quality have led to a major increase in demand for specialty chemicals to process ores. Towards the end of 2025, around
Global Serious Games Market Show 19.2% CAGR
A new report added by Allied Market Research, forecast that the global serious games market was valued at $2,731 million in 2016, and is projected to reach $9,167 million by 2023, growing at a CAGR of 19.2% from 2017 to 2023. The consumers segment is anticipated to grow at the highest rate during the forecast period. Asia-Pacific generated the highest revenue in the global serious games market in 2016 due to
Bioinsecticides market expecting CAGR 5.4%
Reports And Markets Publish a New Market Research Report On –"Bioinsecticides market- Growth, Trends, Forecast for the period (2017 - 2022)" Access Full Report With Table Of Contents @ https://www.reportsandmarkets.com/reports/1071910-global-bioinsecticides-market-growth-trends-forecast-for-the-period-2017-2022 Pesticides constitute the largest category within the market for crop protection chemicals, with biopesticides accounting for a comparatively minute share. Global consumption of synthetic insecticides is projected to reach 833.32 thousand tons by volume and USD 19.6 billion by value by 2020