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Smart Manufacturing Market is Expected to be Worth US$548.14 Billion by 2024 - Research Report Analysis, Size, Share, Growth, Trends, Forecast
ResearchMoz added Latest Research Report titled " Smart Manufacturing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024 " to it's Large Report database.Global Smart Manufacturing Market: Overview
Smart manufacturing is an enhanced process of production with the objective of optimizing concept generation, product transaction, and manufacturing. It refers to a merger of operation technology and information technology which work together within an integrated process, in real time scenario. The whole technique implied is usually constituted of capturing data, simulation and modeling, analysis of big data, controlling and planning, and cloud computing.
Global Smart Manufacturing Market: Trends and Opportunities
The strong growth in the industrial internet of things technology market is driving the growth of the smart manufacturing market. Furthermore, growing adoption of analytics tools is acting as one of the major drivers of the smart manufacturing market globally. Increase in smart manufacturing is due to increasing access to the Internet and growing focus on cost reduction and commercial process efficiency. In addition, fall in the cost of important components and advancement in technology are supporting the market currently.
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Mass scale technical progress across different domains has led the organizations to adopt innovative technologies, and gather competitive edge over their competitors. Smart manufacturing systems help to reduce redundant system costs effectively, while ensuring that producers achieve cost efficient manufacturing plans. Several developed economies have experienced mass scale adoption of the machine-to-machine communication and internet of things technologies in the industrial sector. These technologies have importantly staged a key driver impacting the growth in the global smart manufacturing market.
Global Smart Manufacturing Market: Segmentation
On the basis of various technology types, the smart manufacturing market is segmented into programmable logic controller (PLC), manufacturing execution system (MES), distributed control system (DCS), enterprise resource planning (ERP), human machine interface (HMI), supervisory controller and data acquisition (SCADA), machine vision (MV), and other technologies. In the technologies segment, the enterprise resource and planning segment constituted the biggest market share, followed by the manufacturing execution system segment, in 2015. Enterprise resource and planning is largely used in automation, oil & gas, fishing, retail, media and entertainment, and military. Therefore, the segment generates the largest revenue among all the segments in the smart manufacturing market.
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Table of Content
Section 1 Preface
1.1 Report Scope
1.2 Market Segmentation
1.3 Research Highlights
Section 2 Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Models
Section 3 Executive Summary
3.1 Global Smart Manufacturing Market Snapshot
3.2 Global Smart Manufacturing Market Share, By Region 2015 & 2024
Section 4 Smart Manufacturing Market: Overview
4.1 Introduction
4.2 Recent Trend Analysis
Section 5 Smart Manufacturing Market: Dynamics
5.1 Market Drivers
5.1.1 Connected devices to propel the industrial internet of things technology
5.1.2 Increasing implementation of analytics solutions
5.1.3 Emphasis on business process efficiency and cost reduction
5.2 Market Restraints
5.2.1 Complex execution process
5.3 Market Opportunities
5.3.1 Government mandates coupled with greater eco-consciousness
5.3.2 Management systems to spearhead industrial revolution
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