The global Smart Manufacturing Market By 2024 is expected to witness significant growth, with its market size projected to increase from USD 310.92 billion in 2023 to 2032 by USD 998.99 billion. This reflects a compound annual growth rate (CAGR) of 14% over the forecast period. This report highlights industry growth trends, key drivers such as cost-effective solutions and sustainable practices, and emerging opportunities across residential, commercial, and industrial sectors.

The Smart Manufacturing Market comprises key manufacturers such as 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) Expansions, collaborations, and deals were some of the major strategies adopted by these key players to enhance their positions in the Smart Manufacturing Market.

Market Scope:

Featuring in-depth analysis and forward-looking projections, this report is an essential resource for stakeholders aiming to leverage emerging opportunities and address challenges in the Smart Manufacturing Market. Key recent industry developments include;

  • 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.

Smart Manufacturing Market Highlights:

The report provides valuable insights into the Compound Annual Growth Rate (CAGR) of the Smart Manufacturing Market, projecting its growth from 2023 to 2032. It offers a comprehensive analysis of the key drivers fueling market expansion, highlighting the factors that will propel growth during the forecast period. Additionally, the report delivers precise estimates of the market size and share, helping stakeholders understand the Smart Manufacturing Market’s position in the broader industry.

Future trends and consumer behavior forecasts are also covered, offering a forward-looking perspective on market shifts. The report includes a regional growth analysis, breaking down the performance of the Smart Manufacturing Market across;

  • 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

Segmentation of this market:

Smart Manufacturing Market Size, Share & 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, 2023-2030

Explore a comprehensive Table of Contents, featuring detailed charts, tables, and figures, spread across 120+ pages. This report offers exclusive data, key statistics, industry trends, and insights into the competitive landscape within this niche sector.

Table of Contents:

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

TOC Continued…!

Drivers & Restrains:

  • 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.

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