Smart Manufacturing Market Growth, Size, Share, and Trends Forecast 2024-2032

The global smart manufacturing market size was valued at USD 277.81 billion in 2022 and is projected to grow from USD 310.92 billion in 2023 to USD 754.1 billion by 2030, exhibiting a CAGR of 13.5% during the forecast period. Asia-Pacific dominated the smart manufacturing industry with a market share of 36.33% in 2022.

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Recent Industry developments of smart manufacturing market:

• Emerson to collaborate with Petronas with an objective to drive decarbonization and digital transformation as well as enhance their remote operation capabilities and further strengthen their cybersecurity.
• Honeywell International, Inc. introduced robotic technology, ‘Smart Flexible Depalletizer,’ to minimize the labor-intensive work. This technology is increasing warehouse productivity and reducing labor injuries.
• General Electric Company announced the launch of intuitive software applications and expert services called Connectix. The service is designed for smart manufacturing applications. The services help to take advantage of data analytics to increase energy efficiency, make faster decisions, and enhance daily operations in manufacturing.
• Rockwell Automation, Inc. announced the release of its updated intelligent conveyor system called QuickStick HT. The newly launched conveyor system has been enabled with the advanced QuickStick HT 5700 inverter. The updated system has provided functional safety, and it can save the plant floor space and reduce the size of the control cabinet.

Top Keyplayers of smart manufacturing market:

• HP Development Company, L.P. (U.S.)
• ABB (Switzerland)
• Emerson Electric Co. (U.S.)
• General Electric (U.S.)
• Honeywell International, Inc. (U.S.)
• Mitsubishi Electric Corporation (Japan)
• Robert Bosch GmbH (Germany)
• Rockwell Automation, Inc. (U.S.)
• Schneider Electric (Europe)
• Siemens AG (Germany)

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Smart Manufacturing Market Segmentation

Smart Manufacturing Market Share, Size & COVID-19 Impact Analysis, By Component (Solution and Services), By Deployment (Cloud and On-Premises), By Enterprise Size (Large Enterprises and Small & Medium Enterprises), By Industry (Discrete Industry and Process Industry), and Regional Forecast Between, 2023-2030

Reasons to buy this report:

This report thoroughly examines the competitive dynamics, growth areas, market conditions, and trends in the smart manufacturing market. It assists businesses in identifying opportunities for growth and development while highlighting potential challenges and risks. Stakeholders are assisted in developing more informed investment and market strategies by the report’s assessment of product portfolios and business segments.

A thorough grasp of the industry dynamics outlined in the report can help develop successful success strategies in the smart manufacturing market and greatly improve decision-making. All things considered, this report is an excellent source of information for anyone wishing to learn more about this rapidly changing sector.

Key Report Highlights on the Smart Manufacturing Market:

• Market CAGR for the Forecast Period: Provides insights into the Compound Annual Growth Rate (CAGR) of the Smart Manufacturing Market from 2024 to 2032.
• Comprehensive Analysis of Growth Drivers: Offers a detailed evaluation of the key factors driving the growth of the Smart Manufacturing Market during the forecast period.
• Accurate Market Size and Share Estimates: Precise projections on the size and share of the Smart Manufacturing Market, underscoring its position within the larger market landscape.
• Forecasts on Emerging Trends and Consumer Behavior: Predicts future trends and shifts in consumer behavior relevant to the Smart Manufacturing Market.
• Regional Growth Analysis: Examines the growth of the Smart Manufacturing Market across key regions, including North America, Asia-Pacific (APAC), Europe, South America, the Middle East, and Africa.
• Competitive Landscape Overview: Detailed assessment of the competitive environment, offering insights into the key players within the Smart Manufacturing Market.
• Evaluation of Growth Barriers: Analyzes the challenges that may hinder the expansion of suppliers in the Smart Manufacturing Market.

Regional Atributes:

• North America (By Component, By Deployment, By Enterprise Size, By Industry, By Region)
  • U.S. (By Solution)
  • Canada (By Solution)
• Europe (By Component, By Deployment, By Enterprise Size, By Industry, By Region)
  • U.K. (By Solution)
  • Germany (By Solution)
  • France (By Solution)
  • Italy (By Solution)
  • Spain (By Solution)
  • Rest of Europe

• Asia Pacific (By Component, By Deployment, By Enterprise Size, By Industry, By Region)

• • China (By Solution)
  • Japan (By Solution)
  • India (By Solution)
  • Southeast Asia (By Solution)
  • Rest of Asia Pacific
• Middle East & Africa (By Component, By Deployment, By Enterprise Size, By Industry, By Region)
  • GCC (By Solution)
  • South Africa (By Solution)
  • Rest of the Middle East & Africa
• Latin America (By Component, By Deployment, By Enterprise Size, By Industry, By Region)
  • Brazil (By Solution)
  • Mexico (By Solution)
  • Rest of Latin America

Table of Contents:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
• Key Insights
  • Key Industry Developments – Merger, Acquisitions, and Partnerships
  • Porter’s Five Forces Analysis
  • SWOT Analysis
  • Technological Developments
  • Value Chain Analysis

TOC Continued…!

Smart Manufacturing Market Drivers and restrains:

• Driver: Advancements in IoT and ConnectivityThe rapid development of Internet of Things (IoT) technologies and enhanced connectivity solutions drive the adoption of smart manufacturing systems, enabling real-time data collection, monitoring, and control.
• Driver: Increased Focus on Operational EfficiencyCompanies are increasingly investing in smart manufacturing technologies to improve operational efficiency, reduce downtime, and optimize production processes through automation and data-driven insights.
• Driver: Growth in Industrial AutomationThe rise in industrial automation across various sectors drives demand for smart manufacturing solutions, which integrate advanced robotics, AI, and machine learning to streamline production and enhance quality.
• Restraint: High Initial InvestmentThe significant capital required for implementing smart manufacturing technologies can be a barrier for small and medium-sized enterprises, limiting their ability to adopt these advanced systems.
• Restraint: Complexity of IntegrationIntegrating smart manufacturing systems with existing infrastructure can be complex and challenging, requiring specialized expertise and potentially leading to increased implementation time and costs.

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