Press release
Smart Manufacturing Market Current Scenario with Future Trends Analysis to 2031
According to the latest research by InsightAce Analytic, the Global Smart Manufacturing Market Size is valued at USD 106.75 Bn in 2023 and is predicted to reach USD 359.3 Bn by the year 2031 at a 16.56% CAGR during the forecast period for 2024-2031.
Request For Free Sample Pages:
https://www.insightaceanalytic.com/request-sample/2170
Smart manufacturing refers to a contemporary approach to industrial production that integrates advanced and interconnected manufacturing technologies. It involves the implementation of systems that connect machinery with the internet to enable scalable, data-driven control over production processes. The growing demand for connected supply chains and intelligent manufacturing-supported by sophisticated modeling, sensing, simulation, and control capabilities-is a key factor driving market expansion.
The rapid evolution of the Internet of Things (IoT) has significantly transformed the manufacturing landscape through enhanced automation and digitization. In addition, cloud computing, the Industrial Internet of Things (IIoT), and industrial analytics are anticipated to play pivotal roles in shaping the future of manufacturing operations. The integration of emerging technologies such as artificial intelligence (AI), big data, machine learning, and cloud platforms is expected to further accelerate the growth of the smart manufacturing sector.
List of Prominent Players in the Smart Manufacturing Market:
• 3D System, Inc. (US)
• ABB (Switzerland)
• Cisco System, Inc. (US)
• Emerson Electric Co. (US)
• General Electric (US)
• Honeywell International Inc. (US)
• IBM (US)
• Mitsubishi Electric Corporation (Japan)
• Rockwell Automation (US)
• Schneider Electric (France)
• Siemens (Germany)
• Oracle (US)
• SAP (Germany)
• Stratasys (US)
• Yokogawa Electric Corporation (Japan)
• Cognex Corporation
• Intel Corporation
• Keyence Corporation
• Nvidia Corporation
• PTC
• Samsung
• Sony
• Universal Robots A/S
• Omron Corporation
Market Dynamics:
Drivers-
The smart manufacturing market is witnessing robust growth, primarily driven by the rising demand for connected supply chains and knowledge-based production systems equipped with advanced modeling, sensing, control, and simulation technologies. The integration of smart manufacturing with supply chain optimization facilitates real-time visibility across the production and distribution processes. This end-to-end transparency enables manufacturers to monitor the flow of raw materials, work-in-progress components, and finished goods, allowing swift responses to disruptions.
Curious about this latest version of the report? Enquiry Before Buying:
https://www.insightaceanalytic.com/enquiry-before-buying/2170
Challenges:
Despite the benefits, the high upfront costs associated with implementing smart manufacturing technologies present a significant barrier to widespread adoption, particularly in global markets. The integration of technologies such as IoT, data analytics, artificial intelligence, and automation requires substantial financial investment. Additionally, these systems depend heavily on a stable and high-speed internet infrastructure for real-time data exchange among devices and systems.
Regional Trends:
North America is anticipated to command a significant share of the smart manufacturing market, with a strong compound annual growth rate (CAGR) expected in the coming years. The United States and Canada are making strategic investments in advanced manufacturing technologies, particularly within the healthcare, aerospace and defense, automotive, and industrial sectors. Technological advancements and the availability of alternative materials are further accelerating the adoption of smart manufacturing in the region.
Meanwhile, the Asia Pacific region is projected to exhibit the fastest growth during the forecast period. Small and medium-sized enterprises in countries such as India, Japan, and Australia are playing a pivotal role in driving the adoption of smart manufacturing solutions.
Recent Developments:
• In May 2023, Mitsubishi Electric Corporation announced a significant investment in Clearpath Robotics to advance manufacturing automation. Clearpath Robotics focuses on developing and selling autonomous mobile robots (AMR). The company will increase its support for comprehensive production optimization and automation by investing in AMR systems.
• In Oct 2022, Honeywell unveiled its Manufacturing Excellence platform, which provides dashboards and real-time end-to-end production visualization for a variety of user positions (including management and operators). The platform also offers comprehensive equipment status reports, timelines for process units, and trends of critical process parameters.
Get Specific Chapter/Information From The Report:
https://www.insightaceanalytic.com/customisation/2170
Segmentation of Smart Manufacturing Market-
By Information Technology-
• Human-Machine Interface (HMI)
• Plant Asset Management (PAM)
• Manufacturing Execution System (MES)
• Warehouse Management System (WMS)
By Enabling Technology-
• Industrial 3D Printing
• Robots
o Traditional Robots
o Collaborative Robots
• Industrial Sensors
o Wired
o Wireless
• AI in Manufacturing
• Machine Condition Monitoring
• Industrial Machine Vision
• Industrial Cyber-Security
• Network security
o Application security
o Endpoint security
o Cloud security
o Wireless security
o Other security types
• Digital Twin
• Automated Guided Vehicles
• Unit load carriers
o Tow vehicles
o Pallet trucks
o Assembly line vehicles
• Augmented Reality & Virtual Reality
• 5G Industrial IoT
By Industry-
• Process Industry
o Oil & Gas
o Food & Beverages
o Pharmaceuticals
o Chemicals
o Energy & Power
o Metal & Mining
o Pulp & Paper
o Others
• Discrete Industry
o Automotive
o Aerospace
o Semiconductor & Electronics
o Medical Devices
o Machine Manufacturing
o Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
Get More Information :
https://www.insightaceanalytic.com/report/smart-manufacturing-market/2170
About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.https://www.insightaceanalytic.com/images_data/148861653.JPG
Contact Us:
info@insightaceanalytic.com
InsightAce Analytic Pvt. Ltd.
Visit: www.insightaceanalytic.com
Tel : +1 551 226 6109
Asia: +91 79 72967118
Follow Us on LinkedIn @ bit.ly/2tBXsgS
Follow Us On Facebook @ bit.ly/2H9jnDZ
Twitter: https://twitter.com/Insightace
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Smart Manufacturing Market Current Scenario with Future Trends Analysis to 2031 here
News-ID: 4054005 • Views: …
More Releases from Insightace Analytic Pvt Ltd.
Sustainable Construction Materials Market Deep Research Report with Forecast to …
InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Sustainable Construction Materials Market - (By Material Type (Green Cement, Bamboo, Recycled Glass, Hempcrete, Recycled Tires, Reclaimed Wood, Cork, Mycelium, Ferrock, Sheep Wool, Recycled Metal, Recycled Plastic, Ashcrete, Timbercrete, Cellulose Fiber, Stone, Others (Including Straw Bales and Natural Clay), By Application (Exterior, Interior, Structural, Others), By End User (Residential, Commercial, Industrial)), Trends, Industry Competition Analysis,…
Surgical Microscopes Market Growth and Restrain Factors Analysis Report
InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the " Surgical Microscopes Market - (By Application (Ophthalmology, Plastic And Reconstructive Surgeries, Dentistry, Ent, Gynecology & Urology, Neurosurgery & Spine Surgery, Oncology), By End User (Hospitals, Outpatient Facilities), By Price Range (Low-Range, Mid-Range, Premium-Range)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."
According to the latest research by InsightAce Analytic, the Surgical Microscopes Market is valued…
Solar Panel Recycling Market expected to Witness Huge Revenue Growth to 2034
InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Solar Panel Recycling Market Size, Share & Trends Analysis Report By Type (Monocrystalline, Polycrystalline, Thin Film), Process (Thermal, Chemical, Mechanical, Laser, Combination), Material (Silicone, Metal, Glass, Plastic), Shelf Life (Early Loss, Normal Loss), Region, Market Outlook And Industry Analysis 2031"
The Global Solar Panel Recycling Market is estimated to reach over USD 1,344.3 Mn by…
Small Modular Reactors Market Exclusive Report on Current Trends and Future Insi …
InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the " Small Modular Reactors Market - (By Reactor Type (Light Water Reactor (LWR), Pressurized Heavy Water Reactor (PHWR), High-Temperature Reactor (HTR), Fast Neutron Reactor (FNR), Others (Molten Salt Reactor (MSR), Integral PWR (Pressurized Water Reactor), etc.), By Deployment (Single Module, Multi-Module), By Power Generation Capacity (300 MW), By Application (Desalination, Power Generation, Process Heat)), Trends,…
More Releases for Manufacturing
Global Miscellaneous Market by Types (Gasket, Packing, and Sealing Device Manufa …
The global Miscellaneous market was valued at xx million in 2020 and is projected to reach US$ xx million by 2027, at a CAGR of xx% during the forecast period.
Global Miscellaneous Market overview
Miscellaneous Market research report offers great insights into the market and consumer data and their interpretation through various figures and graphs.
Miscellaneous markets have experienced significant growth in recent years. The main reason for this is the increasing…
Smart Factory Transforming from “Manufacturing” to “Intelligent Manufactur …
The concept of “Industry 4.0” was officially announced by the German government in 2013 at the Hannover Messe. Since then, its influence has taken the world by storm. From steam mechanization to power automation to data informatization, the Industry 4.0, driven by “intelligentization”, will completely subvert the expectations, changing perceptions of productivity and production relations in the traditional manufacturing industry by way of qualitative change – an immortal monument, perhaps,…
Additive & Conventional Manufacturing – Hybrid Manufacturing Techniques From C …
Croft Filters, based in Warrington, England, have been supplying custom filtration and separation solutions for over 31 years. Over this time, Croft has developed a reputation for their quality, bespoke service through manufacturing a variety of products for specific requirements. These products have included Filtration Cones, Baskets & Screens, Disc Filters and Filtration Housings amongst others, and they are made with Wire Mesh, Wedge Wire and Perforated Plate, depending on…
Storage Hopper Market 2017 - HES Manufacturing, Meridian Manufacturing Inc
Apex Research, recently published a detailed market research study focused on the "Storage Hopper Market" across the global, regional and country level. The report provides 360° analysis of "Storage Hopper Market" from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global Storage Hopper industry, and estimates the future trend of Storage Hopper market…
Digital Meter Market 2017 - Al-Jon Manufacturing, Environmental Manufacturing, H …
The Global Digital Meter Market 2017 Industry Research Report focused on global and regional market, major manufacturers, as well as the current state of the Digital Meter industry. First, "Global Digital Meter Industry 2017" report analyzed the basic scope of this industry like definition, specification, classification, application, industry policy, news analysis and Digital Meter industry chain structure.
Major Companies Covered in this report:-
Al-Jon Manufacturing
Heitman Laboratories
Kws Manufacturing Company
Kmb Systems
Obvius Holdingd Llc
Lubecorp Manufacturing
Quadlogic…
Competitive Segmentation of Global Mixed-mode Manufacturing Market 2016 Industry …
The market research report titled Mixed-mode Manufacturing Market Research Report 2016 provides a detailed overview of the global Mixed-mode Manufacturing market, in terms of crucial market factors such as the demand drivers, challenges, market segments, key companies, and the recent market trends. The quantitative and the qualitative information presented in this research study is based on primary and secondary sources of information. Moreover, much of the information contained in this…
