Smart Manufacturing Market by Technology (PLC, DCS, HMI, MES, PLM, SCADA, and Machine Vision), by Component (Hardware, Software, and Services) for Electronics, Healthcare, Automotive, Oil & Gas, Aerospace & Defense, Food & Agriculture, Industrial Equipment, Chemicals & Materials, and Others by Region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa): Global Industry Perspective, Comprehensive Analysis, and Forecast 2017-2023

Global smart manufacturing market expected to reach approximately USD 479.01 billion in 2023, growing at a CAGR of slightly above 15.4% between 2018 and 2023. The adoption of smart manufacturing technologies by global players will provide opportunities for automating operations and use data analytics to improve manufacturing performance.

16-May-2018 | Number of pages: 110 | Report Code: ZMR-2816 | Report Format : | Status : Published

Analysis

The global demand for smart manufacturing market is expected to grow from USD 202.82 billion in 2017, and is expected to reach approximately USD 479.01 billion in 2023, growing at a CAGR of slightly above 15.4% between 2018 and 2023.

Over the past several years, smart manufacturing has been a topic of conversation among the global manufacturing experts, leaders and strategists. Smart manufacturing is a technology-driven approach that utilizes internet-connected machinery to monitor the production process in real time. Smart manufacturing is expected to bring next industrial revolution in the global manufacturing sector. The continuously increasing investments in production activities, expanding mindfulness about advance and better production technologies, and the need for upgradation & modernization of control systems has become necessary to compete at international standards. All these factors are fuelling the adoption of smart manufacturing technology. Using smart manufacturing technologies companies are increasing the efficiency of their manufacturing plants and production process through the use of real time data and digital technologies.

The global manufacturing sector has been tormented by several factors including uncertainties in the supply of raw materials, rising operational costs, intense competition by local players and many others. As a result, various industry players are looking for options and ways through which they can reduce costs, improve product quality and make manufacturing more efficient. So the improved productivity and reduced cost structure of manufacturing is propelling the growth of smart manufacturing market globally. Smart manufacturing technologies have witnessed a significant growth in market as it offers ample technological solutions to small and medium sized enterprises and connected supply chains to its users. Whereas factors such as high initial cost of set up, and the probability of cyber-attacks to breach the security are hampering the growth of this market. Frequent investments by global players in the research and development activities related to smart manufacturing in order to come up with innovative products is expected to drive the growth of this market.

Global Smart Manufacturing Market

Market segmentation of smart manufacturing includes technology, component and end use. The technology segment is divided into PLC, DCS, HMI, MES, PLM, SCADA, and machine vision. The component is further divided into hardware, software and services. The end use segment is further bifurcated into electronics, healthcare, automotive, oil & gas, aerospace & defense, food & agriculture, industrial equipment, chemicals & materials and others. Regional segmentation of the smart manufacturing market include North America, Europe, Asia Pacific, Latin America and Middle East and Africa with further country wise bifurcation into major countries such as U.S., UK, France, Germany, China, Japan, India and Brazil.

The major players operating in the global smart manufacturing market are Siemens AG, ABB Ltd., Emerson Electric Company, Schneider Electric, General Electric Company, Honeywell International Inc., Mitsubishi Electric, Yokogawa Electric Corporation, FANUC Corporation and Rockwell Automation Inc. among others.


Related Reports

Light Tower Market – By Lighting (Electric, LED, Metal Halide, and Others), By Product (Mobile and Stationary), By Technology (Hydraulic Lifting System and Manual Lifting System), By Power Source (Direct, Diesel, Solar, and Others), By Application (Emergency & Disaster Relief, Construction, Mining, Infrastructure Development, Military & Defense, Oil & Gas, and Others), and By Region: Global Industry Perspective, Market Size, Statistical Research, Market Intelligence, Comprehensive Analysis, Historical Trends, and Forecasts, 2019–2025

Feb-2020 | Price : $ 4199.00 | Pages: 110 | Report Code: ZMR-5316 | Report Format:

This report analyzes and estimates the light tower market at global, regional, and country level. The research study provides historic data from 2015 to 2019 along with the forecast from 2020 to 2025 based on revenue (USD Billion). The report offers detailed insights of the light tower market driv...Read More

Ice Maker Market – By Product (Ice Flake, Ice Cube, and Ice Nugget), By Application (Commercial and Residential), and By Region: Industry Perspective, Comprehensive Analysis, and Forecast, 2019 – 2025

Feb-2020 | Price : $ 4199.00 | Pages: 110 | Report Code: ZMR-5315 | Report Format:

This report analyzes and estimates the ice maker market at global, regional, and country level. The research study provides historic data from 2015 to 2019 along with a forecast from 2020 to 2025 based on revenue (USD Billion). The report offers detailed insights of the ice maker market drivers an...Read More

Global Aerobridge Market – By Product Type (T-Bridge, Noseloader, Commuter Bridge, Apron Drive, and Others), By Elevation System (Electromechanical and Hydraulic), By Movement (Movable and Fixed), By Wall Structure (Glass and Steel), By Tunnel Sections (Two and Three), and By Region: Industry Perspective, Market Size, Statistical Research, Market Intelligence, Comprehensive Analysis, Historical Trends, and Forecasts, 2019–2025

Feb-2020 | Price : $ 4199.00 | Pages: 110 | Report Code: ZMR-5310 | Report Format:

This report analyzes and estimates the aerobridge market at global, regional, and country level. The research study provides historic data from 2015 to 2019 along with the forecast from 2020 to 2025 based on revenue (USD Billion). The report offers detailed insights of the aerobridge market driver...Read More

Hybrid Drivetrain Market – By Component (PHEV and HEV), By Level (PHEV, Full HEV, and Mild HEV), By Type (Parallel, Series-Parallel, and Series), and By Region: Industry Perspective, Comprehensive Analysis, and Forecast, 2019 – 2025

Feb-2020 | Price : $ 4199.00 | Pages: 110 | Report Code: ZMR-5297 | Report Format:

This report analyzes and estimates the hybrid drivetrain market at global, regional, and country level. The research study provides historic data from 2016 to 2019 along with a forecast from 2020 to 2025 based on revenue (USD Billion). The report offers detailed insights of the Hybrid drivetrain m...Read More

Electric Powertrain Market – By Component (Motor/Generator, 12V/HV/48V Battery, Battery Management System, 48V ISG/BSG, Controller, Power Distribution Module, DC/AC Inverter, DC/DC Converter Regenerative Braking, Idle Start-Stop, On-Board Charger, and Others), By Vehicle Type (48V Mild Hybrid Vehicle (MHEV), Battery Electric Vehicle (BEV), and Hybrid And Plug-In Hybrid Vehicle (HEV/PHEV)), and By Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 – 2025

Feb-2020 | Price : $ 4199.00 | Pages: 110 | Report Code: ZMR-5292 | Report Format:

This report analyzes and estimates the Electric Powertrain market at global, regional, and country level. The research study provides historic data from 2015 to 2019 along with forecast from 2020 to 2025 based on value (USD Billion). The report offers detailed insights of the Electric Powertrain m...Read More

Request Brochure

COVID-19

A Global Pandemic

Request the coronavirus impact analysis across industries and market

Request impact analysis on this market
Why Choose Us ?

24/5 Research support

Resolved your research queries from industry expert. Request for a research sample before report purchase.

Custom research service

Ask the Analyst to customize an exclusive study to serve your research needs.

Quality & Accuracy

Zion Market Research reports offers best quality reports based on various authentic and accurate data findings.

Customer Satisfaction

We ensure that our client's all research needs are met with customized, in-depth analysis solutions.

Information security

We never share your personal and confidential information. Your personal information is safe and secure with us.