Smart Manufacturing Market Key Players, Share, Trend, Applications, Segmentation and Forecast By 2028

According to our new research study on "Smart Manufacturing Market Forecast to 2028 - Covid-19 Impact and Global Analysis - By End User (Discrete Industry and Process Industry) and Component (Hardware and Software)"

The smart manufacturing market was valued US$ 258.72 billion in 2022, it is estimated to grow at a CAGR of 6.0% from 2022 to 2028.

Smart manufacturing uses execution control, analytics, and simulation to boost the high yield manufacturing process. Optimization through simulation and analytics is driving product and process improvements in the process. The global industrial sector is dynamic as it observes the deployment of numerous technologies, such as Industry 4.0 and the Industrial Internet of Things (IIoT). With factories reporting for ~40% of the world's energy consumption, the need to mitigate energy usage is crucial in encouraging manufacturers to adopt cost-effective, sustainable, precise, and reliable machinery. Machines are evolving and are reducing human intervention by introducing new interfaces such as augmented reality (AR), touchless interfaces, and smart tools.

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Some of the Prominent/Emerging Players in Smart Manufacturing Market: Yokogawa Electric Corporation, Cisco Systems, Inc, Honeywell International Inc., 3D Systems, Inc, Daifuku Co., Ltd, GENERAL ELECTRIC, IBM Corporation, Oracle Corporation, Siemens AG, Schneider Electric SE

Market Insights

Increasing Demand for Smart Machine Vision Systems

Machine vision is a multi-staged system that employs smart cameras in the initial phases of image processing. Smart cameras are generally designed to outperform multicamera systems in harsh operating environments. These cameras are self-contained and can be easily programmed to perform a specific task, or they can be modified as per the need without affecting other inspection processes. The demand for smart machine vision systems is expected to increase during the forecast period as they are cost-effective, compact, and flexible; the flexibility of these systems allows easier implementation of changes in these systems based on revised regulations and standards. In addition, with advancements in smart camera technology and the Internet of Things (IoT), the adoption of machine vision systems based on these cameras is likely to increase in the coming years. Smart cameras typically combine lighting, image sensors, software, and I/O functionality, which ease the task of machine vision systems. With the evolution in camera technology, in terms of capabilities and specifications, manufacturers are introducing models with larger image sensors and embedded vision cameras; the new models function as smart cameras, and a few of these are also capable of performing deep learning and artificial intelligence (AI) tasks.

Based on end user, the smart manufacturing market is bifurcated into discrete industry and process industry. The discreet industry segment led the smart manufacturing market with a share of 56.5% in 2021. In diversified industries, numerous types of smart manufacturing technologies are being integrated during manufacturing.

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Smart Manufacturing Market Segment by Regions, regional analysis covers
• North America (United States, Canada and Mexico)
• Europe (Germany, France, UK, Russia and Italy)
• Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
• South America (Brazil, Argentina, Colombia etc.)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

Top Points Covered in the Global Smart Manufacturing Market:
• Industry Overview of Global Smart Manufacturing Market;
• Classification, Specifications and Definition of Smart Manufacturing Market Segment by Regions;
• Process and Structure
• Research Findings/Conclusion, Smart Manufacturing deals channel, traders, distributors, dealer's analysis;
• Complete Market Research, Capacity, Sales and Sales Price Analysis with Company Segment;
• Smart Manufacturing Market Analysis by Major Players, The Smart Manufacturing Segment Market Analysis (by Type) and (by Application);

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize 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.

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