Global Smart Manufacturing Market to 2028 – Opportunity and Demand Analysis – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Global Smart Manufacturing Market Outlook 2020: Global Opportunity and Demand Analysis, Market Forecast, 2019-2028” report has been added to ResearchAndMarkets.com’s offering.
The global smart manufacturing market size was valued at USD 215.9 billion in 2019 and is expected to witness a CAGR of 12.8% from 2019 to 2028.
With the advent of industry 5.0 revolution, there has been a significant transformation in the manufacturing sector in the form of digitization and automation. The growing demand for knowledge-based manufacturing and connected supply chains, which are equipped with advanced control, sensing, modeling, and simulation capabilities, are driving the growth of smart manufacturing. Moreover, industrial internet of things (IIoT), cloud technology, and industrial analytics will play an important role in fostering market growth over the forecast period.
Companies Mentioned:
- Siemens AG
- ABB Ltd
- Emerson Electric Company
- Schneider Electric
- General Electric Company
- Honeywell International Inc
- Mitsubishi Electric
- Yokogawa Electric Corporation
- FANUC Corporation
- Rockwell Automation Inc
Top Driver:
Aerospace and Defense Expected to Register Significant Growth
The prime concern of the automotive industry is the length of a project. Hence, quick return-on-investment projects combined with low-cost automation and price innovation helps manufacturers in improving competitiveness through productivity improvement. Value streams are expected to become more agile through adaptive manufacturing and extensive utilization of 3D-printing. These value streams are expected to become more software-based.
Also, the automotive manufacturing is getting impetus from smart technologies, Industry 4.0, and IoT. For instance, discrete manufacturing is the manufacturing or production of distinct parts that can be individually touched and counted. The parts are mainly related to assembly lines. Discrete manufacturing includes products, such as cars, automotive parts, etc. that are getting increasingly connected. Smart manufacturing is additionally expected to assist in balancing the availability and demand, enhancing product design, optimizing manufacturing efficiency, and significantly reducing waste.
Software are expected to be the driving factors for the segment’s growth in Global Smart Manufacturing Market
Scope of the Report
By Component
- Hardware
- Software
- Services
By Technology
- Machine Execution Systems
- Programmable Logic Controller
- Enterprise Resource Planning
- SCADA
By End-User
- Automotive
- Aerospace & Defense
- Chemicals & Materials
- Healthcare
By Region
- North America
- Europe
- Asia Pacific
- SAMEA
Key Reasons to Purchase this Report
1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.
For more information about this report visit https://www.researchandmarkets.com/r/9nnpci
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