Smart manufacturing is a combination of various technologies and solutions which collectively, if implemented in a manufacturing ecosystem. These technologies and solutions are called "enablers", which help in optimizing the entire manufacturing process and thus increase overall profits.
Manufacturing IT (MES, ERP, PLM, APC, EAM, etc.); Automation Control System (DCS, PLC, HMI, SCADA, FCS, etc.); Instrumentation & Field Devices (Sensors, Actuators, Drives, Valves, etc.)
The growing emphasis on increasing production efficiency and gaining visibility across the entire value chain are the two major factors driving market growth. In addition, the availability of advanced technologies such as 3D printing, Manufacturing Execution Systems (MES), and plant asset management solutions to small and medium enterprises is further accelerating the industry growth.
Automotive and aerospace & defense industries are the leading growth avenues for smart manufacturing solution providers with industries such as oil and gas and industrial equipment manufacturing rapidly scaling their digitalization efforts.
While cost reduction and manufacturing intelligence are the primary targets of industry players, product quality, sustainability, and compliance are gaining prominence in the industry. The return on investments in smart manufacturing is one of the key promoters of the market with numerous manufacturers having reported quantifiable benefits including energy efficiency, reduction in safety incidents, reduction in cycle times, and lower maintenance costs.
According to this study, over the next five years the Smart Manufacturing market will register a 9.7% CAGR in terms of revenue, the global market size will reach US$ 250 million by 2024, from US$ 160 million in 2019. In particular, this report presents the global revenue market share of key companies in Smart Manufacturing business, shared in Chapter 3.
This report presents a comprehensive overview, market shares and growth opportunities of Smart Manufacturing market by product type, application, key companies and key regions.
This study considers the Smart Manufacturing value generated from the sales of the following segments:
Segmentation by product type: breakdown data from 2014 to 2019 in Section 2.3; and forecast to 2024 in section 10.7.
Manufacturing IT
Automation Control System
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 10.8.
Automotive
Aerospace & Defense
Chemicals & Materials
Healthcare
Industrial Equipment
Electronics
Oil & Gas
Others
This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
GE
ABB
Siemens
SAP
Schneider
Emerson
Oracle
IBM
Honeywell
Cisco
Rockwell
Yokogawa
Fanuc
NVIDIA
Keyence
Cognex
Stratatys
3D Systems
Daifuku
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
Research objectives
To study and analyze the global Smart Manufacturing market size by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Smart Manufacturing market by identifying its various subsegments.
Focuses on the key global Smart Manufacturing players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Smart Manufacturing with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the size of Smart Manufacturing submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
