Press release
Global Smart Manufacturing Market is expected to reach a value of US$ 638.28 billion by 2028, at a CAGR of 15.3% over the forecast period (2022 - 2028)
Global Smart Manufacturing Market
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The digitization of industrial manufacturing at all stages, including supply chain management, the design process, production, distribution, and marketing, is referred to as "smart manufacturing" (SM). By leveraging automation, AI, and connected robotics to evaluate data from all stages of the method, businesses can stay flexible and quickly change their business models.
The implementation of government programs to support automation systems, the massive influx of investment opportunities in Industry 4.0, the rise in the demand for adherence to safety regulations, and the rising cost of labor in emerging economies are all factors that have aided in the expansion of the smart manufacturing market.
As they become more aware of the enormous potential of smart manufacturing technologies, governments all over the world are supporting and funding research and development for innovations like the Internet of Things and commercial 3D printing. Because they perceive themselves as potential consumers of the technology, several governments are promoting the growth of the IoT. They are investing in new IoT research programs to build and manage digital infrastructure in the future.
Read market research report, " Global Smart Manufacturing Market segmentation is based on component, technology, and region. Based on component the market is segmented into hardware, software, and services. Based on technology the market is segmented into machine execution systems, programmable logic controller, enterprise resource planning, SCADA, discrete control systems, human machine interface, machine vision, 3D printing, product lifecycle management, and plant asset management & By Region - Forecast and Analysis 2022-2028" by SkyQuest
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As they become more aware of the enormous potential of smart manufacturing technologies, governments all over the world are supporting and funding research and development for innovations like the Internet of Things and commercial 3D printing. Because they perceive themselves as potential consumers of the technology, several governments are promoting the growth of the IoT. They are investing in new IoT research programs to build and manage digital infrastructure in the future.
However, a few of the key problems impeding this market's expansion are a high startup and operational costs and a lack of standardization for technological solutions. 5G connection is expected to be widely used in emerging nations' smart manufacturing, which will offer large potential prospects to market participants. However, two of the major barriers to the development of the smart manufacturing industry are the lack of a workforce with the requisite skills to operate and integrate technology, as well as concerns about the privacy of personal data.
The requirement for significant changes to deploy smart manufacturing technologies limits the growth of the global market. A substantial sum of money is needed to set up and implement smart manufacturing technologies including Automated Guided Vehicles (AGVs), Enterprise Manufacturing Intelligence (EMI), HMI, Warehouse Management System (WMS), and PAM. This might discourage companies from using smart manufacturing.
The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about Smart Manufacturing Market Revenue. The projections featured in the report have been derived using proven research methodologies and assumptions.
Report Findings
● Drivers- Governments all over the world are backing and financing Research and development for developments like the IoT and commercial 3D printing as they become more aware of the huge opportunities of smart manufacturing technologies.
● Restraint- Global market expansion is constrained by the need for substantial improvements to implement smart manufacturing technologies.
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What does this Report Deliver?
● Market Estimation for 20+ Countries
● Smart Manufacturing Market demand by Region, Sub-Region, and Country
● Customization on Segments, Regions, and Company Profiles
● 100+ tables, 150+ Figures
● Global, Regional and Country specific Smart Manufacturing Market Trends
● Comprehensive Mapping of Smart Manufacturing Industry Parameters
● Attractive Investment Proposition in the Global Smart Manufacturing Industry
● Competitive Strategies Adopted by Smart Manufacturing Market Key Players
● Drivers, Restraints, Opportunities, Challenges and the impact on the Smart Manufacturing Market Size
● Market growth rate till 2028
● Regulatory scenario, regional dynamics, and Smart Manufacturing market insights of leading countries in each region
● In-depth Market insights by Region and Country
● Market Segmentation Trend Analysis, Opportunities and Growth
● Porter's five force analysis to know the market's condition
● Pricing Analysis and Smart Manufacturing Market Sales
● Parent market analysis
● Product portfolio benchmarking
SkyQuest has segmented the Global Smart Manufacturing Market based on Component, Technology, and Region:
● Global Smart Manufacturing Market by Component (Revenue, US$ billion, 2021 - 2028)
o Hardware
o Software
o Services
● Global Smart Manufacturing Market by Technology (Revenue, US$ billion, 2021 - 2028)
o Machine Execution Systems
o Programmable Logic Controller
o Enterprise Resource Planning
o SCADA
o Discrete Control Systems
o Human Machine Interface
o Machine Vision, 3D Printing
o Product Lifecycle Management
o Plant Asset Management
● Global Smart Manufacturing Market by Region (Revenue, US$ billion, 2021 - 2028)
o North America
▪ US
▪ Canada
o Europe
▪ Germany
▪ France
▪ UK
▪ Italy
▪ Spain
▪ Rest of Europe
o Asia Pacific
▪ China
▪ India
▪ Japan
▪ Rest of Asia Pacific
o Latin America
▪ Brazil
▪ Rest of CSA
o Middle East & Africa
▪ GCC Countries
▪ South Africa
▪ Rest of MEA
Read Full Report : https://skyquestt.com/report/smart-manufacturing-market
Key Players in the Global Smart Manufacturing Market
● HP Development Company, L.P. (US)
● ABB (Switzerland)
● Emerson Electric Co. (US)
● General Electric (US)
● Honeywell International, Inc. (US)
● Mitsubishi Electric Corporation (Japan)
● Robert Bosch GmbH (Germany)
● Rockwell Automation, Inc. (US)
● Schneider Electric (Europe)
● Siemens AG (Germany)
About Us-
SkyQuest Technology Group is a Global Market Intelligence, Innovation Management & Commercialization organization that connects innovation to new markets, networks & collaborators for achieving Sustainable Development Goals.
Contact Us-
SkyQuest Technology Consulting Pvt. Ltd.
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 617-230-0741
Email- info@skyquestt.com
Website: https://www.skyquestt.com/
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