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Smart Manufacturing Platform Market worth $32.82 billion by 2030, growing at a CAGR of 17.30% - Exclusive Report by 360iResearch
Smart Manufacturing Platform Market | 360iResearch
The Global Smart Manufacturing Platform Market to grow from USD 10.74 billion in 2023 to USD 32.82 billion by 2030, at a CAGR of 17.30%.
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Smart manufacturing platform encompasses a wide range of software and hardware solutions aimed at optimizing production processes, enhancing operational efficiency, reducing costs, and increasing overall profitability for manufacturing companies. The platforms integrate advanced technologies such as the Internet of Things (IoT), artificial intelligence (AI), big data analytics, machine learning (ML), robotics, and automation to streamline the entire manufacturing process, from design to production and maintenance. The emerging trend of the Industry 4.0 revolution, with its emphasis on digitization and increasing demand for IoT technology in the industrial sector, enabling real-time data exchange between machines, is elevating the usage of smart manufacturing platforms. The rising need for streamlined operations, driving cost reductions, and stringent regulatory compliance requirements requiring high-quality standards are driving the demand for smart manufacturing platforms. High initial investment costs associated with implementation and the lack of skilled workforce required for operating smart manufacturing platforms are hampering market growth. The growing integration of 5G technology and edge computing that enable faster data transmission and real-time analytics and the increasing development of advanced AI-driven algorithms to optimize production processes are expected to create opportunities for market growth.
Rising investments in all industrial sectors and undergoing a renaissance of innovations with increasing government initiatives and smart manufacturing tools in process and discrete industries in the region fuel the growth of the global smart manufacturing platform market. Additionally, with rising technological investments in the U.S. manufacturing of machinery and industrial tools, many manufacturing industries' availability drives regional growth. The EMEA region is expected to gain significant growth in the smart manufacturing platform with the high adaptation for industrial upgradation towards 4.0 and a rising focus on advanced supply chain management in the manufacturing processes, with multiple integrated solutions. The ongoing surge towards automatized industrial production with IoT and cloud deployment further boosts the EMEA region's market growth. The growth in the Industry 4.0 revolution with industrial automation in the Asia-Pacific region raises the need for smart manufacturing platforms in emerging countries. In January 2021, China aimed to build 30 fully connected 5G factories in 10 key industries by 2023 to the broader adoption of advanced technologies such as next-generation wireless networks, big data, artificial intelligence, and IoT.
Market Segmentation & Coverage:
This research report categorizes the Smart Manufacturing Platform Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Type, market is studied across Application Enablement Platform, Connectivity Management, and Device Management. The Application Enablement Platform is projected to witness significant market share during forecast period.
Based on Deployment Type, market is studied across On-Cloud and On-Premises. The On-Premises is projected to witness significant market share during forecast period.
Based on Application, market is studied across Asset & Condition Monitoring and Performance Optimization. The Performance Optimization is projected to witness significant market share during forecast period.
Based on End-use, market is studied across Aerospace & Defense, Automotive, Electronics, Food & Beverages, Medical, and Oil & Gas. The Medical is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 39.52% in 2023, followed by Europe, Middle East & Africa.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Smart Manufacturing Platform Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Smart Manufacturing Platform Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Smart Manufacturing Platform Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Altizon Systems Private Limited, Amazon.com, Inc., Atos SE, C3.ai, Inc., Cisco Systems, Inc., Emerson Electric Co., Flutura, Fujitsu Limited, General Electric Company, Hitachi, Ltd., Honeywell International Inc., Intel Corporation, International Business Machines Corporation, Litmus Automation, Losant, Microsoft Corporation, Oracle Corporation, Panasonic Corporation, PTC Inc., QiO Technologies Ltd., Robert Bosch GmbH, Rockwell Automation, Inc., SAP SE, Schneider Electric SE, Seebo, Siemens, and Telit Corporate Group by Thales Group.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Smart Manufacturing Platform Market, by Type
7. Smart Manufacturing Platform Market, by Deployment Type
8. Smart Manufacturing Platform Market, by Application
9. Smart Manufacturing Platform Market, by End-use
10. Americas Smart Manufacturing Platform Market
11. Asia-Pacific Smart Manufacturing Platform Market
12. Europe, Middle East & Africa Smart Manufacturing Platform Market
13. Competitive Landscape
14. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Smart Manufacturing Platform Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Smart Manufacturing Platform Market?
3. What is the competitive strategic window for opportunities in the Smart Manufacturing Platform Market?
4. What are the technology trends and regulatory frameworks in the Smart Manufacturing Platform Market?
5. What is the market share of the leading vendors in the Smart Manufacturing Platform Market?
6. What modes and strategic moves are considered suitable for entering the Smart Manufacturing Platform Market?
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About 360iResearch
360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset - our people.
Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.
Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.
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