Smart Manufacturing Market Strategic Assessment, Growth Analysis and Research Outlook 2021-2026| ABB Ltd, Emerson Electric Company, Fanuc Corp

Latest research on Smart Manufacturing Market report covers forecast and analysis on a worldwide, regional and country level. The study provides historical information of 2016-2021 together with a forecast from 2021 to 2026 supported by both volume and revenue (USD million). The entire study covers the key drivers and restraints for the Smart Manufacturing market. This report included a special section on the Impact of COVID19. Also, Smart Manufacturing Market (By major Key Players, By Types, By Applications, and Leading Regions) Segment’s outlook, Business assessment, Competition scenario and Trends. The report also gives 360-degree overview of the competitive landscape of the Smart Manufacturing industry.

Smart Manufacturing market is growing at a CAGR of  % during the forecast period (2021-2026).

The Smart Manufacturing market is highly competitive and consists of a number of major players. Top Companies like ABB Ltd, Emerson Electric Company, Fanuc Corp., General Electric Co., Honeywell International Inc., Mitsubishi Electric Corporation, Robert Bosch GmbH, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Texas Instruments Incorporated, Yokogawa Electric Corporation

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Industry News And Developments:

- July 2020 - ABB opened a new robotics facility to support the digital transformation of manufacturing in India. The facility is expected to offer Indian customers the benefits of Industry 4.0, including robotics and digitalization technologies, to help India become a resilient high-tech manufacturing economy in the world.

- July 2020 - Vivo inaugurated its new smart manufacturing plant in China. The plant is located in Changan Town, China, and will produce 70 million units every year. Vivo's new smart manufacturing plant plays a big part in its efforts to be a wholly self-developed and self-produced smartphone vendor.

Scope of the Report

- Smart manufacturing initiatives are also on the rise. Smart Manufacturing Leadership Coalition (SMLC), a combination of US_based industrial organizations, technology suppliers, laboratories, and universities, is currently working on next-generation Smart Manufacturing Platform and Smart Factory connectivity.

- Similarly, the Industrial Internet Consortium (IIC), another industry_led initiative, was established to bring together advanced technologies and organizations necessary to accelerate industrial automation growth.

- The use of software and services, such as PLC, SCADA, ERP, DCS, HMI, PLM, and MES, has enabled the industries to gather real-time data and make decisions based on them. This software has been beneficial for the industry in reducing the product's faults, reducing downtime, scheduled maintenance, and switching, from being in the reactive state to predictive and prescriptive stages and decision making.

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Key Market Trends

Automotive Industry is Expected to Drive the Market Growth

- The prime concern of the automotive industry is the length of a project. Hence, quick return-on-investment projects combined with low-cost automation and cost innovation help manufacturers improve competitiveness through productivity improvement.

- Value streams are expected to become more agile through adaptive manufacturing and extensive utilization of 3D-printing. These value streams are expected to become more software-based.

- Also, automotive manufacturing is getting impetus from smart technologies, Industry 4.0, and IoT. For instance, discrete manufacturing is the manufacturing or production of distinct parts that can be individually touched and counted. The parts are mainly related to assembly lines. Discrete manufacturing includes products, such as cars, automotive parts, etc. that are getting increasingly connected.

China Occupies Maximum Market Share

- China's manufacturing industry has retained higher growth over the past decade and has become the largest manufacturing country globally. In several industries, including steel, most of the global production comes from China. Manufacturing is one of China's prominent features, and it is undergoing a rapid transformation. This large-scale transformation has aided the country in being a leading nation in the manufacturing market, globally.

- According to the National Development and Reform Commission (NDRC), China's investment in the high-tech manufacturing industry expanded in the first eight months of 2019. From January 2019 to August 2019, the investment grew 12% year on year, quickening 0.9% points from that in the January-July period.

- After the implementation of Industry 4.0 in Germany and the Industrial Internet in the United States, the Chinese government launched the Made in China 2025 policy. This has emerged as a significant focus across the country's entire manufacturing community to remain the largest manufacturing sector.

What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: Smart Manufacturing Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

The research includes historic data from 2015 to 2020 and forecasts until 2026 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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