The Smart Manufacturing Market sector is undergoing significant transformation, with substantial growth and technological advancements expected by 2032. According to a new in-depth market research report, the sector is poised for expansion, driven by various factors such as market size, share, and emerging trends.

This comprehensive report provides key insights into the Smart Manufacturing Market, exploring critical market segmentation and definitions. It highlights the essential components driving growth, offering a clear picture of the industry’s trajectory. Utilizing SWOT and PESTEL analyses, the report evaluates the market’s strengths, weaknesses, opportunities, and threats, while also considering political, economic, social, technological, environmental, and legal factors that impact the market landscape.

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Market Summary:

The global smart manufacturing market size was valued at USD 310.92 billion in 2023. The market is projected to grow from USD 349.48 billion in 2024 to USD 998.99 billion by 2032, exhibiting a CAGR of 14.0% during the forecast period.

Recent industry developments are;

  • 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.
  • <Mitsubishi Electric Corporation launched MELFA ASSISTA, a family of robots. MELFA ASSISTA operates collaboratively with humans focused on safety functions including collision avoidance. The robot also functions in full accordance with international safety parameters and robotic norms ISO 10218-1 and ISO/TS15066. Industries adopt MELFA ASSISTA and RT VisualBox to develop more effective productivity.

Browse Detailed TOC, Tables and Figures with Charts which is spread across 100+ Pages that provides exclusive data, information, vital statistics, trends, and competitive landscape details in this niche sector.

Major Players:

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:

By Component

  • Solution
    • Industrial 3D Printing 
    • Programmable Logic Controller (PLC)
    • Product Lifecycle Management (PLM)
    • Manufacturing Execution System (MES)
    • Robotic Process Automation (RPA)
    • Remote Monitoring software
    • Supervisory Controller and Data Acquisition (SCADA)
    • Others (Energy Management Systems, Fleet Management Solutions)
  • Services
    • Professional Services
    • Managed Services

By Deployment

  • Cloud
  • On-Premises

By Enterprise Size

  • Large Enterprises
  • Small & Medium Enterprises

By Industry

  • Discrete Industry
    • Automotive
    • Transportation
    • Industrial Machinery
    • Medical Devices
    • Semiconductor and Electronics/High-Tech
    • Others (Aerospace and Defense)
  • Process Industry
    • Pharmaceuticals
    • Mining and Metals
    • Chemicals
    • Pulp and Paper
    • Others (Cable)

Reasons to purchase this report:

This report offers a detailed analysis of the competitive landscape, emerging growth areas, market conditions, and key trends within the Smart Manufacturing Market. It helps businesses identify expansion opportunities while addressing potential risks and challenges. By assessing product portfolios and business segments, the report provides valuable insights that guide stakeholders in formulating informed investment and market strategies.

The in-depth understanding of industry dynamics presented in the report supports the creation of effective strategies for success in the Smart Manufacturing Market, greatly enhancing decision-making. Overall, this report is an essential resource for those looking to stay updated in this rapidly evolving industry.

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Drivers & Restraints:

  • Drivers:
    • Rapid advancements in Industry 4.0 technologies, including IoT, AI, and big data analytics, enhancing operational efficiency.
    • Increasing demand for real-time data and automation in manufacturing processes to improve productivity and reduce costs.
  • Restraints:
    • High initial investment and integration costs for implementing smart manufacturing solutions.
    • Lack of skilled workforce and expertise in advanced manufacturing technologies hindering adoption.

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 Regional Segmentation:

  • 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

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Emelia Murison is a freelance writer and editor with a passion for innovation and technology. She covers breaking industry news, #SpaceForGood, and product reviews for the group. She also provides copywriting services to startups around the world – one of which introduced her to the world of Aerospace.