Press release
How Smart Manufacturing Market 2021 is Booming Worldwide with Top Leading Players – ABB Ltd., Siemens AG, General Electric, Mitsubishi Electric Corporation, Robert Bosch GmBH, Rockwell Automation Inc
COVID-19 Pandemic: Rising Need to Reconstruct Business Models will Favor Growth
The COVID-19 pandemic has created vital gaps between supply chain and manufacturing units worldwide. Several companies are striving to reconstruct their business continuity models to overcome such a crisis. At the same time, they are also discovering automation opportunities and investing huge sums in novel supply chain models. As per Invest India.gov, for instance, the Government of India invested USD 265 million in May 2020 as part of an ‘Economic Package.’ Such initiatives by regulatory bodies would propel the demand for smart manufacturing amid the pandemic. Our expertise and experience can provide enormous benefits to help regain your business during this critical time.
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Regional Insights:
Investments in Intelligent Manufacturing Industry to Boost Growth in Asia Pacific
Geographically, Asia Pacific held USD 79.09 billion in terms of revenue in 2020. This growth is attributable to the increasing investments by companies in the intelligent manufacturing industry. At the same time, in India, Japan, and Australia, several small and medium enterprises are gradually trying to spend more on smart manufacturing solutions. North America, on the other hand, is anticipated to grow steadily because of the rising adoption of 3D printing. This is due to the low cost of equipment and availability of substitute printing materials in the region.
Industrial 3D Printing Sub-Segment Generated 10.2% Share in 2020
Based on the component, the Smart Manufacturing Market is bifurcated into solutions and services. The services segment is further sub-segment into managed services and professional services. The solution segment is classified into industrial 3D printing, programmable logic controller (PLC), product lifecycle management (PLM), manufacturing execution system (MES), robotic process automation (RPA), remote monitoring software, supervisory controller, and data acquisition (SCADA), and others. Out of these, the industrial 3D printing sub-segment earned 10.2% in terms of the smart manufacturing market share in 2020. This growth is attributable to the high demand for IoT for advanced automation processes, especially from the manufacturing industry.
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Highlights of the Report:
Market Penetration: Comprehensive information on the product portfolios of the top players in the Smart Manufacturing Market.
Product Development/Innovation: Detailed insights on the upcoming technologies, RandD activities, and product launches in the ma Smart Manufacturing Market
Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the Smart Manufacturing Market
Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Smart Manufacturing Market
A List of Prominent Smart Manufacturing Software Solutions Providers:
ABB Ltd. (Zürich, Switzerland)
Siemens AG (Munich, Germany)
General Electric (Massachusetts, U.S.)
Mitsubishi Electric Corporation (Tokyo, Japan)
Robert Bosch GmBH (Gerlingen, Germany)
Rockwell Automation Inc. (Wisconsin, U.S.)
Schneider Electric (Rueil-Malmaison, France)
Honeywell International Inc. (North Carolina, U.S.)
Emerson Electric Co. (Missouri, U.S.)
Fanuc Corporation (Yamanashi, Japan)
Yokogawa Electric Corporation (Tokyo, Japan)
Telefonaktiebolaget LM Ericsson (Stockholm, Sweden)
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Name: Ashwin Arora
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Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
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