Press release
Smart Manufacturing Market Forecast 2024-2033 - Major Trends, Segments And Fastest Growing Regions | Siemens AG, General Electric Company, Rockwell Automatio
Smart Manufacturing Global Market Report
The Business Research Company presents an extensive market research report on the Smart Manufacturing Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The smart manufacturing market size has grown rapidly in recent years. It will grow from $362.79 billion in 2023 to $414.75 billion in 2024 at a compound annual growth rate (CAGR) of 14.3%. The growth in the historic period can be attributed to advancements in industrialization, rise of big data analytics, focus on cyber-physical systems, globalization of supply chains, energy efficiency and sustainability, enhanced quality control measures, shift to smart factories,.
The smart manufacturing market size is expected to see rapid growth in the next few years. It will grow to $713.44 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%. The growth in the forecast period can be attributed to focus on resilient and adaptive manufacturing, shift to servitization models, demand for rapid prototyping and additive manufacturing, focus on continuous improvement, enhanced security measures, prominence of circular economy practices.. Major trends in the forecast period include industry 4.0 integration, digital twin adoption, advanced robotics and automation, iot and sensor proliferation, edge computing for real-time processing, 5g connectivity for low-latency communication, artificial intelligence (ai) in manufacturing, human-machine collaboration..
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Key Market Players:
Major companies operating in the smart manufacturing market report are Siemens AG, General Electric Company, Rockwell Automation, Schneider Electric SE, Honeywell International Inc., Emerson Electric, ABB India Limited, Amazon Web Services Inc., Robert Bosch Manufacturing Solutions GmbH, Cisco Systems Inc., 3D Systems Corporation, Plex Systems Inc., Cognex Corporation, PTC Inc., Mitsubishi Electric Corporation, HP Development Company L.P., SAP SE, Hitachi Ltd., IBM Corporation, Oracle Corporation, Microsoft Corporation, Intel Corporation, Fujitsu Limited, Fanuc Corporation, Kuka AG, Omron Corporation, Panasonic Corporation, Toshiba Corporation, Yokogawa Electric Corporation
Market Drivers:
The rising number of investments in Industry 4.0 is expected to drive the smart manufacturing market going forward. The fourth (4.0) industrial revolution uses data to connect the digital and physical worlds. Industry 4.0 lays the way for new developments in the manufacturing industry by improving data collection and analysis at the edge and by releasing new depths of analytical insight. Industry 4.0 is transforming how businesses produce, enhance, and distribute their goods. The Internet of Things (IoT), cloud computing, analytics, AI, and machine learning are among the cutting-edge technologies that manufacturers are incorporating into their manufacturing processes. For instance, in 2021, Internet of Things Infrastructure received a total funding of $28.7 billion from more than 1,300 startups, making it one of the most active areas for investors. The most active investors in this industry, measured by the number of investments, include Plug and Play Tech Center, Qualcomm Ventures, Techstars, Cisco Investments, and Intel. Hence, the increasing investments in Industry 4.0 are expected to drive the smart manufacturing market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/smart-manufacturing-global-market-report
The smart manufacturing market covered in this report is segmented -
1) By Component: Hardware, Software, Services
2) By Technology: Machine Execution Systems (MES), Programmable Logic Controller (PLC), Enterprise Resource Planning (ERP), SCADA, Discrete Control Systems (DCS), Machine Vision, 3D Printing, Other Technologies
3) By End-User: Automotive, Aerospace and Defense, Chemicals and Materials, Healthcare, Industrial Equipment, Electronics, Food and Agriculture, Oil and Gas, Other End-Users
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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