Press release
Smart Manufacturing Market Outlook, Development Factors, Challenges, Regional Analysis and Forecast 2022-2027
Smart Manufacturing Market
Smart manufacturing refers to the usage of internet-connected machinery for monitoring the production process. It involves the adoption of several technologies, such as machine execution systems, programmable logic controllers, discrete control systems, human-machine interface, machine vision, 3D printing, plant asset management, etc. Smart manufacturing solutions automate operations by using data analytics to enhance the overall manufacturing performance. They assist manufacturing engineers and data analysts in identifying failures in specific parts and undertake adequate preventive maintenance to avoid unplanned downtime on devices. In line with this, smart manufacturing systems also offer a wide array of benefits, including dynamic production and real-time optimization, which help in reducing accidents, cycle times, maintenance costs, etc. Consequently, they find extensive applications across numerous sectors, such as automotive, manufacturing, defense, aerospace, oil and gas, food and beverage (F&B), agriculture, chemical, healthcare, consumer electronics, etc.
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Market Trends:
The inflating need for automation and digitization is among the key factors driving the smart manufacturing market. Additionally, the escalating demand for connected supply chains that are equipped with sensing, simulation, advanced control, and modeling capabilities is also positively influencing the global market. Besides this, the rising consumer concerns towards the increasing operational costs and uncertainties in the supply of energy and raw materials are acting as significant growth-inducing factors. Moreover, the growing requirement for efficient solutions to improve the productivity of enterprises is further bolstering market growth. Apart from this, the emerging trend of adopting cloud platforms and the Internet of Things (IoT) across various industries, especially in developing countries, is anticipated to propel the smart manufacturing market over the forecasted period.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some 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
• Yokogawa Electric Corporation
Smart Manufacturing Market Segmentation:
Our report has categorized the market based on region, component, technology and end use.
Breakup by Component:
• Hardware
• Software
• Services
Breakup by Technology:
• Machine Execution Systems
• Programmable Logic Controller
• Enterprise Resource Planning
• SCADA
• Discrete Control Systems
• Human Machine Interface
• Machine Vision
• 3D Printing
• Product Lifecycle Management
• Plant Asset Management
Breakup by End Use:
• Automotive
• Aerospace and Defense
• Chemicals and Materials
• Healthcare
• Industrial Equipment
• Electronics
• Food and Agriculture
• Oil and Gas
• Others
Breakup by Region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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