Smart Manufacturing Market Size, Scope, trends, growth, and global forecasts to 2028

The smart manufacturing market size is expected to reach US$ 365.22 billion by 2028, registering at a CAGR of 6.0% from 2022 to 2028, according to a new research study conducted by The Insight Partners. Smart Manufacturing Market Report provides analysis of top players in all regions with industry size, growth, revenue, market insights, demand, trend, key statistics and industry forecasts 2028. The report provides in-depth analysis of the Smart Manufacturing Market at global and key country level.  This report sheds a concentrated focus on the Smart Manufacturing Market industry in terms of market driver, opportunities, and restraints of global segmentation.

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The Key Players in The Global Market Are: 

Immersive Gaze
Google LLC
EON Reality
Vuzix Corporation
Blippar Group Limited (Layar B V)
Innovega Inc.
Simulanis Solutions Private Limited
Kanda ApS
YeppAR
Zugara, In

AI, 3D printing, and robots are the most prevailing technologies in the manufacturing sector. The manufacturing sector is experiencing a technological renaissance, which is changing the outlook, systems, and processes of modern factories. The technological revolution in the factories has been encouraging companies in this sector to further invest in the emerging technologies to enhance their productivity. Since smart manufacturing is still evolving, it is creating a substantial impact on the industrial & manufacturing sectors. Demand for embedded vision, integration of CoaXPress v2.0, developments in vision-guided robotics, surge in the use of SWIR cameras, advancements in thermal imaging technology, and improvements in AR and VR capabilities are among the factors driving the adoption of smart manufacturing practices, thus fueling the smart manufacturing market growth.

The report segments the global Market as follows:

By End User (Discrete Industry and Process Industry)
By Component (Hardware and Software)

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The smart manufacturing market is bifurcated on the basis of end-user and component. Based on end-users, the smart manufacturing market is divided into discrete industry and process industry. The discrete industry segment held a larger market share in 2020. Due to the rising production of medical devices, defense equipment, semiconductors, cars, and machines, advanced technologies are being adopted by these industries. 

Based on component, the smart manufacturing market is bifurcated into hardware and software. The hardware segment holds a larger share of the market. The segment growth is due to the growing integration & implementation of RTL, robots, and sensors are expanding in manufacturing plants. Based on geography, the smart manufacturing market is segmented into North America (the US, Canada, and Mexico), Europe (Austria, Italy, Poland, Switzerland, Sweden, Norway, Denmark, the Netherlands, Finland, Spain, Baltic states and Rest of Europe), and Asia Pacific (Australia, Japan, South Korea, Taiwan, and Rest of APAC).

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The emergence of another variant of COVID-19 in the UK has affected the production & sales of various electronic devices used in smart manufacturing across the region. Further, the businesses in the region, such as manufacturing industries, faced severe economic difficulties as they had to suspend their operations or substantially reduce their activities. The shutdown of borders of various countries and the implementation of lockdowns had a direct impact on the supply chain of electronic components and devices.

Answers that the report acknowledges:

Market size and growth rate during forecast period.
Key factors driving the Market.
Key market trends cracking up the growth of the Market
Challenges to market growth.
Key vendors of Smart Manufacturing Market
Detailed SWOT analysis.
Opportunities and threats face by the existing vendors in Global Market
Trending factors influencing the market in the geographical regions.
Strategic initiatives focusing the leading vendors.
PEST analysis of the market in the five major region

Contact Us:
If you have any queries pertaining to the report or would like further information, feel free to reach out to us at-
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

ABOUT US:

The Insight Partners is a one stop industry research provider of actionable solutions. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are specialist in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Our research model is very simple. We believe in client servicing and delivering best quality to our customers. Through our research content, we are making sure that our customers get value of their money along with better quality data and analysis.

This release was published on openPR.