What is the global market size of the Smart Manufacturing Market?

Global Smart Manufacturing Market size was valued at USD 249.56 billion in 2021 and is poised to grow from USD 277.81 billion in 2022 to USD 658.41 billion by 2030, growing at a CAGR of 13.1% in the forecast period (2023-2030).

Who are the key vendors in the Global Smart Manufacturing Market?

There are several significant participants in the reasonably competitive market for smart manufacturing. The major firms that hold significant market shares are concentrating on growing their clientele abroad. The businesses are utilizing tactical joint ventures to raise their market share and profitability. To improve the functionality of their products, industry participants are also buying up start-ups developing automated robotic technologies. For instance, to reduce the amount of employment work, Honeywell International, Inc. released robotic technology called 'Smart Flexible Depalletizer' in September 2021. This innovation is boosting warehouse productivity and lowering workplace accidents. 'Siemens AG', 'ABB Ltd.', 'General Electric Company', 'Honeywell International Inc.', 'Schneider Electric SE', 'Emerson Electric Co.', 'Mitsubishi Electric Corporation', 'Rockwell Automation, Inc.', 'Fanuc Corporation', 'Yokogawa Electric Corporation', 'Cisco Systems, Inc.', 'IBM Corporation', 'Oracle Corporation', 'Microsoft Corporation', 'SAP SE', 'PTC Inc.', 'Stratasys Ltd.', 'Hewlett Packard Enterprise Development LP', 'FANUC Corporation', 'Dassault Systèmes SE'

What is the key driver of the Global Smart Manufacturing Market?

Governments all over the world are backing and financing Research and development for developments like the IoT and commercial 3D printing as they become more aware of the huge opportunities of smart manufacturing technologies. The governments of various nations are encouraging the development of the IoT because they see themselves as future users of the technology. To create and manage digital infrastructure in the future, they are financially sponsoring fresh IoT research initiatives.

What is the key market trend for the Global Smart Manufacturing Market?

One of their main uses, big data, is regarded as one of the newest market growth trends. Big data applications are in high demand due to the substantial, continuously growing volume of organized and unstructured data and information. Likewise, the IoT is the most important trend for the market (IoT). Smart cars, monitoring devices, digital phones, and other connected components are all part of the Internet of Things (IoT), which is a platform supported by AI. All of these gadgets produce enormous amounts of data, which are then processed by artificial intelligence programs. Self-driving/autonomous automobiles, smart houses, intelligent thermostats, pacemakers, smart city solutions, etc. are a few examples of the applications.

Which region accounted for the largest share in the Global Smart Manufacturing Market?

In 2021, due to the favorable ecology seen in countries like Japan, India, and Australia, the Asia Pacific region accounted for the largest share of the smart manufacturing market and is predicted to expand quickly during the projection period.

Smart Manufacturing Companies

Smart Manufacturing Market Competitive Landscape

Top Player’s Company Profile

Siemens AG (Germany)
General Electric Company (US)
Schneider Electric SE (France)
IBM Corporation (US)
Cisco Systems, Inc. (US)
Rockwell Automation, Inc. (US)
ABB Ltd (Switzerland)
Honeywell International Inc. (US)
Mitsubishi Electric Corporation (Japan)
Fanuc Corporation (Japan)
Bosch Rexroth AG (Germany)
Yokogawa Electric Corporation (Japan)

FAQs

Global Smart Manufacturing Market size was valued at USD 225.99 Billion in 2022 and is poised to grow from USD 260.56 Billion in 2023 to USD 813.86 Billion by 2031, growing at a CAGR of 15.3 % in the forecast period (2024-2031).

The global smart manufacturing market is highly competitive, with a significant number of small and medium-sized players vying for market share against established manufacturers. The majority of small-scale players are located in the Asia Pacific region, where the market is still developing. With the evolution of technology, products that are being manufactured are also becoming more innovative. Industrial automation is streamlining the process, allowing the market to grow alongside these advancements. The North American and European markets are dominated by large and medium-sized companies. Despite high competition, technological advancements are enabling companies to save time and costs while increasing efficiency and effectiveness. 'Siemens AG (Germany) ', 'General Electric Company (US) ', 'Schneider Electric SE (France) ', 'IBM Corporation (US) ', 'Cisco Systems, Inc. (US) ', 'Rockwell Automation, Inc. (US) ', 'ABB Ltd (Switzerland) ', 'Honeywell International Inc. (US) ', 'Mitsubishi Electric Corporation (Japan) ', 'Fanuc Corporation (Japan) ', 'Bosch Rexroth AG (Germany) ', 'Yokogawa Electric Corporation (Japan) '

Sensor advancements that consistently provide precise and accurate measurements have been crucial in increasing demand in novel applications, which will further accelerate the growth of the market. The smart manufacturing market are the rising attention on the energy absorption, manufacturing effectiveness, and the growing practice for a developed base for the manufacturing

The continuous advancements in robotics technology, including developments in artificial intelligence, machine learning, and sensor technologies, present significant opportunities for the global smart manufacturing market. These innovations enable robots to become more intelligent, versatile, and capable of handling complex tasks, expanding their application possibilities across various industries

North America is leading the market. Canada and the United States are investing more in modern industrial technologies. The introduction of the smart manufacturing concept has been accelerated by technological advancements, the availability of substitute printing materials, and lower equipment prices. The North American aerospace & defense, health, industrial, and automotive industries are all seeing significant investment efforts expected to grow significantly in the future. Many government facilities like NASA, have identified the importance of 3D Printing R&D investments that can contribute substantially to space applications and produce new technologies to fuel market expansion.

Feedback From Our Clients

"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "

- Mr. Ali Zali, Commercial Director, ICIIC Iran.

Smart Manufacturing Market Size, Share, Growth Analysis, By Component(Hardware, Software, Services), By Technology(IoT, AI and ML, 3D Printings, and Others), By Industry Vertical(Food & Beverage, Automotive, Aerospace & Defense, Consumer Electronics), By Region - Industry Forecast 2024-2031

Smart Manufacturing Market Competitive Landscape

Smart Manufacturing Market Report Snapshots

Want to customize this report?

FAQs

Request Free Customization

Feedback From Our Clients

$5,300

Smart Manufacturing Market Size, Share, Growth Analysis, By Component(Hardware, Software, Services), By Technology(IoT, AI and ML, 3D Printings, and Others), By Industry Vertical(Food & Beverage, Automotive, Aerospace & Defense, Consumer Electronics), By Region - Industry Forecast 2024-2031

Smart Manufacturing Market Competitive Landscape

Smart Manufacturing Market Report Snapshots

Want to customize this report?

FAQs

What is the global market size of Smart Manufacturing Market?

Who are the key vendors in the Smart Manufacturing Market?

What is the key driver of Smart Manufacturing Market?

What is the key market trend for Smart Manufacturing Market?

Which region accounted for the largest share in Smart Manufacturing Market?

Request Free Customization

Related Reports

Feedback From Our Clients

$5,300