COVID-19 Impact on Smart Manufacturing - Global Market Outlook (2019 -2027)
According to Stratistics MRC, the Global COVID-19 Impact on Smart Manufacturing Market is accounted for $153.64 billion in 2019 and is expected to reach $577.53 billion by 2027 growing at a CAGR of 18.0% during the forecast period. Increase in use of digital twin to safely monitor smart manufacturing operations and fiscal policy steps taken by regional financial institutions to keep manufacturing facilities floating amidst COVID-19 crisis are the major factors driving the market growth. However, lack of trained personnel to handle smart manufacturing technologies during crises such as COVID-19 is restraining the market growth. Moreover, government aid to fight against COVID-19-induced economic crisis would provide ample opportunities for the market growth.
COVID-19 Impact on Smart Manufacturing is greatly reduces the need for onsite, shop floor employees, thereby abiding by the lockdown and social distancing mandates to fight COVID-19. The ease of use and the ability to monitor operation activities from a safe distance gives thrust to the use of the manufacturing execution system as part of smart manufacturing.
Based on information technology, the manufacturing execution system segment is likely to have a huge demand as manufacturing execution systems offer companies the ability to monitor real-time production and other operations of manufacturing plants. This greatly reduces the need for onsite, and shop floor employees, thereby abiding by the lockdown and social distancing mandates to fight COVID-19. By geography, Asia Pacific is going to have a lucrative growth during the forecast period. Rapid industrialization in APAC has boosted the manufacturing sector in APAC. Countries in APAC have the presence of a large number of small- and mid-sized enterprises (SMEs), which employ more than 70% of the total population in the countries.
Some of the key players profiled in the COVID-19 Impact on Smart Manufacturing Market include ABB, Cisco, Emerson, Fanuc, GE, Hewlett Packard Enterprise, Honeywell, IBM, Intel, Microsoft Corporation, Mitsubishi, Oracle, Rockwell Automation, Schneider Electric, Siemens, Stratasys, Universal Robots and Yokogawa.
Type Spectrums Covered:
• Automation Control System
• Instrumentation and Field Devices
• Manufacturing IT
Information Technologies Covered:
• Enterprise Manufacturing Intelligence
• Human-Machine Interface
• Industrial Communication
• Manufacturing Execution System
• Plant Asset Management
• Warehouse Management System
Enabling Technologies Covered:
• Artificial Engineering (AI) in Manufacturing
• Automated Guided Vehicle
• Collaborative Robot
• Digital Twin
• Industrial 3D Printing
• Industrial Cybersecurity
• Industrial Internet of Things (IIOT)
• Industrial Machine Vision
• Machine Condition Monitoring
End Users Covered:
• Discrete Industry
• Process Industry
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
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- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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