Smart Manufacturing - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Smart Manufacturing market is accounted for $153.80 billion in 2017 and is expected to reach $436.89 billion by 2026 growing at a CAGR of 12.3% during the forecast period. Growing demand for software systems that reduces time and cost, rising emphasis on regulatory compliances and rising use of industrial automation in manufacturing are some of the factors boosting the market growth. However, low adoption of technologies owing to technical issues and lack of standardization among equipment manufacturers and in connectivity protocols are the factors hampering the market. In addition, the integration of different solutions to provide improved performance and increasing adoption of IOT and cloud platforms are providing ample of opportunities.
Smart manufacturing involves the use of automation equipment and the aim to be achieved through this process is the use of information technology to use it for the advantage of reaching a global market. This manufacturing decreases the workload and makes for more flexibility in the entire process. It is a method of manufacturing which aims at optimizing the concept, product manufacturing, and transaction process.
Based on the end user, the automotive segment accounted owing to increasing demand for automobiles in developing countries; technological innovations, such as electric cars, fuel-efficient cars, connected cars; and growing competition in the market are expected to drive the demand for smart manufacturing in the automotive industry. Installing robots has helped several automotive companies to offset the shortage and high costs of acquiring and retaining skilled labor.
By Geography, the Asia Pacific region is the world’s one of the fastest evolving due to increased spending on improving performance, security, and economic stability. The region is witnessing a surge in the deployment of smart manufacturing technologies. China, being one of the top manufacturing countries, has been adopting enabling technologies to increase operational efficiency and production in the country.
Some of the key players profiled in the Smart Manufacturing market include IBM, Honeywell, GE, Stratatys, 3d Systems, Daifuku, 4 Jbt, Cisco, Schneider, Siemens, Emerson, Oracle, SAP, Yokogawa, Abb and Rockwell.
• Machine Vision Systems
• Control Device
• Communication Segment
• Other Components
• Information Technology
• Enabling Technology
End Users Covered:
• Discrete Industry
• Process Industry
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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- Supply chain trends mapping the latest technological advancements
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