Germany Smart Manufacturing Industry to Grow at a CAGR 17.9% from 2021 to 2027

The report "Germany Smart Manufacturing Market with COVID-19 Impact by Information Technology, Enabling Technology, Industry (Process and Discrete) and Geography (North America, Europe, Asia Pacific, Rest of World) - Global Forecast to 2027" , published by MarketsandMarkets, Germany Smart Manufacturing Industry to Grow at a CAGR 17.9% from 2021 to 2027

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=105448439

Government initiatives and high investment drive the smart manufacturing market in Germany

Smart manufacturing involves integrating advanced technologies such as artificial intelligence, the Internet of Things, 5G, robotics, 3D printing, cloud computing, and automation to optimize manufacturing. The primary goal of smart manufacturing is to create a highly automated, data-driven, and flexible production environment to improve manufacturing performance and efficiency. Smart manufacturing is widely used in various industries such as automotive, electrical & electronics, food & beverage, chemical, pharmaceutical, textile, aerospace, and others.

According to the MarketsandMarkets report, the Smart manufacturing market in Germany is driven by industries such as automobile, metals & machinery manufacturing companies. These manufacturing companies are focusing on increasing automation to improve quality and productivity. The smart manufacturing market in Germany was valued the highest in Europe at USD 6.8 billion in 2021 and may reach USD 16.8 billion by 2027; it is expected to grow at a CAGR of 17.9% during the forecast period.

Germany is one of the leading countries and early adopters of implementing smart manufacturing technologies in its manufacturing facilities. The government of Germany launched a program called "Industry 4.0" in 2013 to promote the digitalization and integration of new technologies such as robotics, the Internet of Things (IoT), Artificial Intelligence (AI), and big data in its manufacturing processes. In addition, the government also provided significant funding for research & development to develop smart manufacturing technologies in the country. These initiatives offered by the government helped smart manufacturing technologies to grow in the country.

Inquiry Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=105448439

Similarly, another critical factor in which Germany became a leader in the smart manufacturing market is its strong manufacturing base. This includes some of the world's top companies from various industries, such as Audi AG, BMW AG, Volkswagen AG, Daimler AG, Siemens, and Robert Bosch GmbH. These companies were the early adopter of smart manufacturing technologies such as robots, AI, IoT, and others and also invested heavily in research & development to develop innovative solutions.

Contact:
Mr. Aashish Mehra
MarketsandMarketsâ„¢ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

MarketsandMarketsâ„¢ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines. The KnowledgeStoreâ„¢ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarketsâ„¢.com or follow us on Twitter, LinkedIn and Facebook.

This release was published on openPR.