Smart Manufacturing - Global Market Outlook (2020-2028)
According to Stratistics MRC, the Global Smart Manufacturing Market is accounted for $214.70 billion in 2020 and is expected to reach $634.27 billion by 2028 growing at a CAGR of 14.5% during the forecast period. Some of the key factors propelling the market growth include growing adoption of industry 4.0, increasing government involvement in supporting industrial automation, increasing complexities in supply chains, growing demand for knowledge-based manufacturing and connected supply chains, Proliferation of Internet of Things, and rising emphasis on regulatory compliances. However, high investments and costs involved in implementing smart manufacturing solutions are restraining the market growth.
Smart manufacturing is a type of method of manufacturing which aims at optimizing the concept, product manufacturing and transaction process. Smart Manufacturing refers to a fully integrated manufacturing system which responds in real-time to meet the changing conditions and demands of the supply network and customer needs. It is the ability to resolve existing and future problems through an open infrastructure that allows solutions to be applied at speed of business while generating advanced value. Smart manufacturing can accurately predict requirements, and can quickly identify bottlenecks and errors, thus innovating products and services through enhanced manufacturing process. Smart manufacturing is adopted across multiple industries to optimize manufacturing process and to create higher quality products, increase energy efficiency, sustain safer plant floor, and enhance productivity.
By technology, the industrial internet of things (IIOT) segment is likely to witness significant growth during the forecast period. Various technologies are using IIoT to improve the functioning of the processes. The use of IIoT in these devices & technologies helps in analyzing the data collected via various devices and enables effective decision making. IIoT is revolutionizing manufacturing plants by connecting a wide network of intelligent devices that would increase automation in plants. IIoT is expected to revolutionize the manufacturing industry by enabling a greater amount of data, which can be shared throughout the enterprise from the plant floor to the supply chain. IIoT provides better connectivity, efficiency, scalability, and time- and cost-saving for industries. For example, SCADA systems and IoT technology complement each other. IoT is considered to be the fourth generation of SCADA systems.
On the basis of geography, Asia Pacific region is projected to have considerable market growth during the forecast period, owing to the presence of a large number of smart manufacturing companies stimulated by the need to compete at international levels. The economy in the APAC 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. Due to increasing maintenance costs in manufacturing, manufacturing, and energy & utilities industries have been genuinely considering the adoption of advanced technologies, such as predictive maintenance, to optimize maintenance processes and reduce operational costs.
Some of the key players in Smart Manufacturing Market include Fanuc Corporation, General Electric Company, Robert Bosch GMBH, Schneider Electric SE, Texas Instruments Incorporated, Rockwell Automation Inc., ABB Ltd, Emerson Electric Co., Intel Corp., SAP SE, Yokogawa Electric Corporation, Siemens AG, Honeywell International Inc., Mitsubishi Electric Corporation, IBM Corp., Microsoft, Cisco Systems, Inc., Fujitsu Ltd., Larsen & Toubro Infotech Ltd., and Oracle Corp.
Product Types Covered:
• Application Enablement
• Device and Connectivity Management
• Automation Control System (Field Control Systems (FCS))
• Manufacturing Information Technology (IT)
• Instrumentation & Field Devices
Components Covered:
• Software
• Hardware
• Solution
• Services
Technologies Covered:
• Enabling Technology
• Information Technology
Enterprise Sizes Covered:
• Large Enterprise
• Small & Medium Enterprises (SMEs)
Deployments Covered:
• On-Premise
• Cloud
End Users Covered:
• Discrete Industry
• Process Industry
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- 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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All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Technology Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Smart Manufacturing Market, By Product Type
5.1 Introduction
5.2 Application Enablement
5.3 Device and Connectivity Management
5.4 Automation Control System (Field Control Systems (FCS))
5.5 Manufacturing Information Technology (IT)
5.5.1 Advanced Process Control (APC)
5.5.2 Enterprise Asset Management (EAM)
5.6 Instrumentation & Field Devices
5.6.1 Drives
5.6.2 Actuators
5.6.3 Valves
6 Global Smart Manufacturing Market, By Component
6.1 Introduction
6.2 Software
6.3 Hardware
6.3.1 Control Device
6.3.2 Communication Segment
6.3.3 Sensor
6.4 Solution
6.4.1 Product Lifecycle Management (PLM)
6.4.2 Programmable Logic Controller (PLC)
6.4.3 Robotic Process Automation (RPA)
6.4.4 Manufacturing Execution System (MES)
6.4.5 Remote Monitoring Software
6.4.6 Supervisory Control and Data Acquisition (SCADA)
6.4.7 Other Solutions
6.4.7.1 Fleet Management Solutions
6.4.7.2 Energy Management Solutions
6.5 Services
6.5.1 Managed Services
6.5.2 Professional Services
7 Global Smart Manufacturing Market, By Technology
7.1 Introduction
7.2 Enabling Technology
7.2.1 Machine Condition Monitoring (Monitoring Technique)
7.2.2 Industrial Machine Vision
7.2.3 Industrial 3D Printing
7.2.3.1 Materials
7.2.3.2 Printers
7.2.4 Collaborative Robot (Payload Capacity)
7.2.5 Industrial Robotics
7.2.6 Automated Guided Vehicle (Navigation Technology)
7.2.7 Digital Twin
7.2.8 Blockchain in Manufacturing
7.2.9 Augmented Reality (AR) and Virtual Reality (VR) in Manufacturing
7.2.9.1 Virtual Reality (VR) Technology
7.2.9.2 Augmented Reality (AR) Technology
7.2.10 Big Data
7.2.11 Machine to Machine (M2M)
7.2.12 Artificial Intelligence (AI) in Manufacturing
7.2.13 Industrial Cybersecurity
7.2.14 Industrial Internet of Things (IIOT)
7.3 Information Technology
7.3.1 Enterprise Manufacturing Intelligence (Deployment Type)
7.3.2 Human-Machine Interface (HMI)
7.3.3 Discrete Control Systems
7.3.4 Enterprise Resource and Planning (ERP)
7.3.5 Warehouse Management System
7.3.5.1 Tier Type
7.3.5.2 Implementation Type
7.3.6 Distributed Control System (DCS)
7.3.7 Machine Execution Systems
7.3.8 Purchase Activated Manufacturing (PAM)
7.3.9 Industrial Communication (Communication Protocol)
7.3.10 Plant Asset Management (Asset Type)
8 Global Smart Manufacturing Market, By Enterprise Size
8.1 Introduction
8.2 Large Enterprise
8.3 Small & Medium Enterprises (SMEs)
9 Global Smart Manufacturing Market, By Deployment
9.1 Introduction
9.2 On-Premise
9.3 Cloud
10 Global Smart Manufacturing Market, By End User
10.1 Introduction
10.2 Discrete Industry
10.2.1 Medical Devices
10.2.2 Aerospace & Defense
10.2.3 Semiconductor & Electronics/High-Tech (Consumer Electronics)
10.2.4 Machine Manufacturing
10.2.5 Automotive
10.2.6 Healthcare
10.2.7 Transportation
10.2.8 Industrial Equipment
10.3 Process Industry
10.3.1 Metals & Mining
10.3.2 Food & Beverages
10.3.3 Pulp & Paper
10.3.4 Oil & Gas
10.3.5 Energy & Power
10.3.6 Chemicals/Petrochemical & Materials
10.3.7 Pharmaceuticals
10.3.8 Cable
10.3.9 Agriculture
11 Global Smart Manufacturing Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Fanuc Corporation
13.2 General Electric Company
13.3 Robert Bosch GMBH
13.4 Schneider Electric SE
13.5 Texas Instruments Incorporated
13.6 Rockwell Automation Inc.
13.7 ABB Ltd
13.8 Emerson Electric Co.
13.9 Intel Corp.
13.10 SAP SE
13.11 Yokogawa Electric Corporation
13.12 Siemens AG
13.13 Honeywell International Inc.
13.14 Mitsubishi Electric Corporation
13.15 IBM Corp.
13.16 Microsoft
13.17 Cisco Systems, Inc.
13.18 Fujitsu Ltd.
13.19 Larsen & Toubro Infotech Ltd.
13.20 Oracle Corp.
List of Tables
1 Global Smart Manufacturing Market Outlook, By Region (2019-2028) ($MN)
2 Global Smart Manufacturing Market Outlook, By Product Type (2019-2028) ($MN)
3 Global Smart Manufacturing Market Outlook, By Application Enablement (2019-2028) ($MN)
4 Global Smart Manufacturing Market Outlook, By Device and Connectivity Management (2019-2028) ($MN)
5 Global Smart Manufacturing Market Outlook, By Automation Control System (Field Control Systems (FCS)) (2019-2028) ($MN)
6 Global Smart Manufacturing Market Outlook, By Manufacturing Information Technology (IT) (2019-2028) ($MN)
7 Global Smart Manufacturing Market Outlook, By Advanced Process Control (APC) (2019-2028) ($MN)
8 Global Smart Manufacturing Market Outlook, By Enterprise Asset Management (EAM) (2019-2028) ($MN)
9 Global Smart Manufacturing Market Outlook, By Instrumentation & Field Devices (2019-2028) ($MN)
10 Global Smart Manufacturing Market Outlook, By Drives (2019-2028) ($MN)
11 Global Smart Manufacturing Market Outlook, By Actuators (2019-2028) ($MN)
12 Global Smart Manufacturing Market Outlook, By Valves (2019-2028) ($MN)
13 Global Smart Manufacturing Market Outlook, By Component (2019-2028) ($MN)
14 Global Smart Manufacturing Market Outlook, By Software (2019-2028) ($MN)
15 Global Smart Manufacturing Market Outlook, By Hardware (2019-2028) ($MN)
16 Global Smart Manufacturing Market Outlook, By Control Device (2019-2028) ($MN)
17 Global Smart Manufacturing Market Outlook, By Communication Segment (2019-2028) ($MN)
18 Global Smart Manufacturing Market Outlook, By Sensor (2019-2028) ($MN)
19 Global Smart Manufacturing Market Outlook, By Solution (2019-2028) ($MN)
20 Global Smart Manufacturing Market Outlook, By Product Lifecycle Management (PLM) (2019-2028) ($MN)
21 Global Smart Manufacturing Market Outlook, By Programmable Logic Controller (PLC) (2019-2028) ($MN)
22 Global Smart Manufacturing Market Outlook, By Robotic Process Automation (RPA) (2019-2028) ($MN)
23 Global Smart Manufacturing Market Outlook, By Manufacturing Execution System (MES) (2019-2028) ($MN)
24 Global Smart Manufacturing Market Outlook, By Remote Monitoring Software (2019-2028) ($MN)
25 Global Smart Manufacturing Market Outlook, By Supervisory Control and Data Acquisition (SCADA) (2019-2028) ($MN)
26 Global Smart Manufacturing Market Outlook, By Other Solutions (2019-2028) ($MN)
27 Global Smart Manufacturing Market Outlook, By Services (2019-2028) ($MN)
28 Global Smart Manufacturing Market Outlook, By Managed Services (2019-2028) ($MN)
29 Global Smart Manufacturing Market Outlook, By Professional Services (2019-2028) ($MN)
30 Global Smart Manufacturing Market Outlook, By Technology (2019-2028) ($MN)
31 Global Smart Manufacturing Market Outlook, By Enabling Technology (2019-2028) ($MN)
32 Global Smart Manufacturing Market Outlook, By Machine Condition Monitoring (Monitoring Technique) (2019-2028) ($MN)
33 Global Smart Manufacturing Market Outlook, By Industrial Machine Vision (2019-2028) ($MN)
34 Global Smart Manufacturing Market Outlook, By Industrial 3D Printing (2019-2028) ($MN)
35 Global Smart Manufacturing Market Outlook, By Collaborative Robot (Payload Capacity) (2019-2028) ($MN)
36 Global Smart Manufacturing Market Outlook, By Industrial Robotics (2019-2028) ($MN)
37 Global Smart Manufacturing Market Outlook, By Automated Guided Vehicle (Navigation Technology) (2019-2028) ($MN)
38 Global Smart Manufacturing Market Outlook, By Digital Twin (2019-2028) ($MN)
39 Global Smart Manufacturing Market Outlook, By Blockchain in Manufacturing (2019-2028) ($MN)
40 Global Smart Manufacturing Market Outlook, By Augmented Reality (AR) and Virtual Reality (VR) in Manufacturing (2019-2028) ($MN)
41 Global Smart Manufacturing Market Outlook, By Big Data (2019-2028) ($MN)
42 Global Smart Manufacturing Market Outlook, By Machine to Machine (M2M) (2019-2028) ($MN)
43 Global Smart Manufacturing Market Outlook, By Artificial Intelligence (AI) in Manufacturing (2019-2028) ($MN)
44 Global Smart Manufacturing Market Outlook, By Industrial Cybersecurity (2019-2028) ($MN)
45 Global Smart Manufacturing Market Outlook, By Industrial Internet of Things (IIOT) (2019-2028) ($MN)
46 Global Smart Manufacturing Market Outlook, By Information Technology (2019-2028) ($MN)
47 Global Smart Manufacturing Market Outlook, By Enterprise Manufacturing Intelligence (Deployment Type) (2019-2028) ($MN)
48 Global Smart Manufacturing Market Outlook, By Human-Machine Interface (HMI) (2019-2028) ($MN)
49 Global Smart Manufacturing Market Outlook, By Discrete Control Systems (2019-2028) ($MN)
50 Global Smart Manufacturing Market Outlook, By Enterprise Resource and Planning (ERP) (2019-2028) ($MN)
51 Global Smart Manufacturing Market Outlook, By Warehouse Management System (2019-2028) ($MN)
52 Global Smart Manufacturing Market Outlook, By Distributed Control System (DCS) (2019-2028) ($MN)
53 Global Smart Manufacturing Market Outlook, By Machine Execution Systems (2019-2028) ($MN)
54 Global Smart Manufacturing Market Outlook, By Purchase Activated Manufacturing (PAM) (2019-2028) ($MN)
55 Global Smart Manufacturing Market Outlook, By Industrial Communication (Communication Protocol) (2019-2028) ($MN)
56 Global Smart Manufacturing Market Outlook, By Plant Asset Management (Asset Type) (2019-2028) ($MN)
57 Global Smart Manufacturing Market Outlook, By Enterprise Size (2019-2028) ($MN)
58 Global Smart Manufacturing Market Outlook, By Large Enterprise (2019-2028) ($MN)
59 Global Smart Manufacturing Market Outlook, By Small & Medium Enterprises (SMEs) (2019-2028) ($MN)
60 Global Smart Manufacturing Market Outlook, By Deployment (2019-2028) ($MN)
61 Global Smart Manufacturing Market Outlook, By On-Premise (2019-2028) ($MN)
62 Global Smart Manufacturing Market Outlook, By Cloud (2019-2028) ($MN)
63 Global Smart Manufacturing Market Outlook, By End User (2019-2028) ($MN)
64 Global Smart Manufacturing Market Outlook, By Discrete Industry (2019-2028) ($MN)
65 Global Smart Manufacturing Market Outlook, By Medical Devices (2019-2028) ($MN)
66 Global Smart Manufacturing Market Outlook, By Aerospace & Defense (2019-2028) ($MN)
67 Global Smart Manufacturing Market Outlook, By Semiconductor & Electronics/High-Tech (Consumer Electronics) (2019-2028) ($MN)
68 Global Smart Manufacturing Market Outlook, By Machine Manufacturing (2019-2028) ($MN)
69 Global Smart Manufacturing Market Outlook, By Automotive (2019-2028) ($MN)
70 Global Smart Manufacturing Market Outlook, By Healthcare (2019-2028) ($MN)
71 Global Smart Manufacturing Market Outlook, By Transportation (2019-2028) ($MN)
72 Global Smart Manufacturing Market Outlook, By Industrial Equipment (2019-2028) ($MN)
73 Global Smart Manufacturing Market Outlook, By Process Industry (2019-2028) ($MN)
74 Global Smart Manufacturing Market Outlook, By Metals & Mining (2019-2028) ($MN)
75 Global Smart Manufacturing Market Outlook, By Food & Beverages (2019-2028) ($MN)
76 Global Smart Manufacturing Market Outlook, By Pulp & Paper (2019-2028) ($MN)
77 Global Smart Manufacturing Market Outlook, By Oil & Gas (2019-2028) ($MN)
78 Global Smart Manufacturing Market Outlook, By Energy & Power (2019-2028) ($MN)
79 Global Smart Manufacturing Market Outlook, By Chemicals/Petrochemical & Materials (2019-2028) ($MN)
80 Global Smart Manufacturing Market Outlook, By Pharmaceuticals (2019-2028) ($MN)
81 Global Smart Manufacturing Market Outlook, By Cable (2019-2028) ($MN)
82 Global Smart Manufacturing Market Outlook, By Agriculture (2019-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
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