Press release
Smart Manufacturing Market Driven by Robotics AI and Digital Twin Technology Across Industrial Sectors
Smart Manufacturing Market
According to the latest research by InsightAce Analytic, the Smart Manufacturing Market is valued at USD 364.3 Bn in 2024, and it is expected to reach USD 1,441.9 Bn by the year 2034, with a CAGR of 15.2% during the forecast period of 2025-2034.
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Smart manufacturing (SM) is a technology-based approach that uses equipment connected to the Internet to monitor the manufacturing process. SM's goal is to investigate potential avenues for automating tasks and enhancing production efficiency through data analytics. One specific application of SM is the Industrial Internet of Things (IIoT). Industrial equipment is equipped with sensors to gather information on its performance and operational status during deployment. The growing demand for predictive maintenance to lower operating costs, the explosion of AI and ML integration in smart manufacturing, and the incorporation of 3D printing for additive manufacturing are the primary factors propelling the market's expansion. Furthermore, the introduction of 5G connectivity in smart manufacturing and the expansion of smart manufacturing in developing nations are anticipated to create expansion prospects for market participants. Additionally, smart manufacturing-as-a-service and the expanding integration of smart technologies that enhance supply chain management are some of the major industry trends.
List of Prominent Players in the Smart Manufacturing Market:
• Schneider Electric
• Honeywell International Inc.
• ABB Ltd.
• Cisco Systems, Inc.
• FANUC Corporation
• Mitsubishi Electric Corporation
• Siemens AG
• General Electric
• Rockwell Automation Inc.
• Emerson Electric Co.
• SAP
• Oracle
• Stratasys
• IBM
• 3D Systems, Inc.
• Yokogawa Electric Corporation
• Cognex Corporation
• Intel Corporation
• Keyence Corporation
• Nvidia Corporation
• PTC
• Samsung
• Sony Corporation
• Universal Robots A/S
• Omron Corporation
• Addverb Technologies Limited
• Locus Robotics
• Eiratech Robotics Ltd.
• Greyorange
• Other Market Players
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Market Dynamics:
Drivers-
Innovations in sensors that reliably deliver precise and accurate readings have been essential in driving demand for cutting-edge applications, which will further propel the smart manufacturing market expansion. Growing focus on energy absorption, production efficiency, and the need for a robust manufacturing base are the factors driving the smart manufacturing market. Furthermore, the industry will advance due to the rising demand for mobile-based access and diagnostics, driven by Industry 4.0 as well as the Industrial Internet of Things (IoT). The presence of global firms investing in industrial technology R&D, cloud computing, and the industrial Internet of Things (IoT) are the elements that will further propel the market for smart manufacturing's expansion.
Challenges:
The smart manufacturing market is primarily constrained by the substantial upfront costs associated with implementing cutting-edge infrastructure and technology. The integration of smart manufacturing solutions necessitates a significant financial investment to upgrade existing systems. IoT device sensors and new software integration do this. Additionally, there may be substantial costs associated with educating the staff to operate and maintain these systems. These expenses may be prohibitive for SMEs, which limits their ability to embrace smart manufacturing fully.
Regional Trends:
The North American Smart Manufacturing market is anticipated to hold a major market share in terms of revenue driven by strong government programs encouraging innovation, a strong industrial foundation, and the adoption of sophisticated technologies. The area gains from its highly automated industries, including electronics, automotive, and aerospace, as well as its well-established infrastructure. IoT, artificial intelligence, cloud computing, and robots are just a few of the technologies that are widely employed to increase operational efficiency, reduce downtime, and facilitate real-time monitoring. Besides, over the projection period, Asia Pacific is expected to increase at the fastest rate, motivated by the growing use of cutting-edge technologies across nations. The region's robust manufacturing sector, particularly in consumer goods, electronics, and automobiles, has driven the adoption of digitalization and robotics to enhance productivity, reduce costs, and streamline operations.
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Recent Development:
• March 2025: ABB Ltd. strengthened its position in the smart manufacturing sector by increasing its footprint in China and the United States. In order to improve its production capacities and meet the rising demand for automation and innovative manufacturing solutions, the company is investing in new facilities and technologies.
• December 2023: Mitsubishi Electric Corporation has started working on the creation of sophisticated factory automation technologies at a recently constructed smart manufacturing facility. Strong market growth estimates for the company will result from this facility.
Segmentation of Smart Manufacturing Market-
By Component-
• Service
• Hardware
• Software
By Technology-
• Enterprise Resource Planning
• SCADA
• Discrete Control Systems
• Machine Execution Systems
• Product Lifecycle Management
• Plant Asset Management
• Machine Vision
• Programmable Logic Controller
• Human Machine Interface
• 3D Printing
By End-User-
• Industrial Equipment
• Electronics
• Automotive
• Aerospace & Defense
• Chemicals & Materials
• Healthcare
• Food & Agriculture
• Oil & Gas
• Others
By Region-
North America-
• The US
• Canada
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
• Mexico
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa
Read Overview Report- https://www.insightaceanalytic.com/report/smart-manufacturing-market-51130/3096
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 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.
Contact us:
InsightAce Analytic Pvt. Ltd.
Visit: www.insightaceanalytic.com
Tel : +1 607 400-7072
Asia: +91 79 72967118
info@insightaceanalytic.com
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