Have a Question?
Smart Manufacturing Platform Market Forecasts to 2028 - Global Analysis By Type (Application Enablement Platform, Device Management, Connectivity Management, Other Types), Deployment Type (On-site, Cloud), Application (Condition Monitoring, Performance Optimization) Organization Size (Large Enterprises, Small & Medium Enterprises), Industry (Discrete Industry, Process Industry, Other Industries) and Geography
Estimated Year Value (2022)
US $97.6 BN
Projected Year Value (2028)
US $298.7 BN
CAGR (2022 - 2028)
North America, Europe, Asia Pacific, South America, and Middle East & Africa
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa
Highest Growing Market
According to Stratistics MRC, the Global Smart Manufacturing Platform Market is accounted for $97.6 billion in 2022 and is expected to reach $298.7 billion by 2028 growing at a CAGR of 20.5% during the forecast period. Industry 4.0 and smart manufacturing are related concepts that enable businesses to connect to the Industrial Internet of Things (IIoT). It emphasises gathering, analysing, and using as much data as is practical. A "smart manufacturing platform" is an all-inclusive software architecture that gathers and links data from any industrial assets and equipment, processes it, and then immediately sends it to various applications. A smart manufacturing platform aids in the facilitation of application functionality, data flow, and device management.
Growth in adoption of IIoT and cloud technologies
The use of interconnected sensors, instruments, and other mechanical equipment in the industrial sector is known as the IIoT. The IIoT is transforming industrial facilities by establishing a vast network of intelligent devices that can boost plant automation. Due to the IIoT, factory floors are becoming more networked and interconnected, which has caused industrial automation to become smart automation and enabled businesses to get a greater return on investment. Users can at any moment access data from inaccessible regions of a plant thanks to IIoT. The design of the IIoT delivers real-time information regarding operational and business systems, which improves the efficiency, productivity, and creativity of industrial processes. With connection, automation, and analytics, manufacturers who invest in the IIoT profit from improved and effective productivity. The plant managers have total visibility of all assets, resources, processes, and goods thanks to IIoT.
Lack of skilled IoT-related workforce
The increasing need for smart manufacturing platforms in manufacturing facilities is a result of factors such as the growing need to increase productivity, maximise resources, and reduce production costs. A smart manufacturing platform enables producers to automatically collect and arrange data for decision-making. IoT technology is used to transmit these machine and sensor data to the cloud. Several companies all over the globe have made significant investments in R&D and are embracing IoT technology to automate their production processes. Yet, due to a dearth of experienced workers with knowledge of IoT technology, several firms continue to use traditional production techniques.
Growth in industrial automation
Industrial automation is the managing of machinery and various processes in either industry by use of control systems like computers or robots. For instance, intelligent machines are being employed in the industrial sector to complete the production process without the need for human interaction. Industrial manufacturing companies are under intense pressure to increase productivity and reduce production costs. so as to maximise productivity, lower production costs, and best use available resources.
Complexity in integration of smart manufacturing platforms
The way manufacturing companies function and how they build their businesses must change as a result of escalating rivalry, increasing market volatility, and technology improvements. Organizations must achieve seamless interoperability to address these problems. E-communication and the accessibility of information are crucial for the efficient running of any industrial business. Only the best IT networks and architecture will allow for this. The finest IT networks and infrastructure are used to handle the manufacturing operations' surveillance, resolution, economic performance evaluation, and consciousness, interpretation, and implementation challenges.
All worldwide industry and the global economy have been significantly impacted by COVID-19. Governments all across the world have implemented lockdowns to halt the epidemic's spread. The entire global lockdown during the initial phases of the epidemic in numerous nations severely impacted people’s health and quality of life. As a consequence, supply chain interruptions have happened everywhere. An enormous decline in product demand has hurt the economies of the world. The epidemic caused a lack of raw supplies, which hindered output across many industries. Export declines and supply chain disruptions are the main factors for the output decrease.
The Device management segment is expected to be the largest during the forecast period
The Device management segment is estimated to have a lucrative growth. A variety of sectors have implemented cutting-edge technologies in their facilities as a result of the growth of artificial intelligence, IIoT, advanced manufacturing, Industry 4.0, digitalization, and linked enterprise. It has become essential to control the devices and data created since numerous devices used during industrial facilities produce a lot of data. The device management platform enables remote device monitoring, device control, viewing device data, and checking the status of many devices.
The Process industry segment is expected to have the highest CAGR during the forecast period
The Process industry segment is anticipated to witness the fastest CAGR growth during the forecast period. The oil and gas, chemical, energy and power, food and beverage, pharmaceutical, mining & metals sectors, and other industries are all included in the process industry. The power and petrol sector is faced with a number of difficulties, including the influence on the environment and the paucity of traditional energy sources, which may cause an energy shortage in the years to come. Hence, in order to boost productivity, efficiency, and its usage, optimisation in the energy and power industry has become important, which has boosted the acceptance of automated manufacturing platforms.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to quickly growing emerging economies in the region and the execution of several measures by the government to promote automation in the region. The use of automation technologies has grown along with the desire for remote monitoring and higher productivity across a number of sectors, which is fueling the expansion of the market for smart manufacturing platforms. The industry's expansion is further aided by increased investment in and the growth of industrial IoT (IIoT), in conjunction with other technologies.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to the region's rapid technological adoption and growing IT sector. The development of novel goods and services through strategic alliances amongst leading market players is another important element anticipated to fuel the expansion of the region's market for smart manufacturing platforms.
Key players in the market
Some of the key players profiled in the Smart Manufacturing Platform Market include Schneider Electric SE, Microsoft Corporation, Fujitsu Ltd, Robert Bosch GmbH, Flutura Decision Sciences and Analytics, Hitachi Consulting Corporation, SAP SE, ABB Group, OSRAM GmbH, IBM , Amazon.com, Inc., Accenture Plc., Cisco Systems, Inc. and Oracle Corporation.
In October 2020, Schneider Electric introduced EcoStruxure Automation Expert, the world’s first software-centric industrial automation system. Through this innovation, the company aims to help the customers unlock the full potential of the fourth industrial revolution.
In July 2020, ABB announced the launch of new analytical software and services, namely, ABB Ability Genix Industrial Analytics and AI Suite, which are capable of combining operational data with IT and engineering data to deliver actionable intelligence. The newly launched software will help industries optimize asset management, enhance operations, streamline business sustainability, and ensure process safety.
• Application Enablement Platform
• Device Management
• Connectivity Management
• Other Types
Deployment Types Covered:
• Condition Monitoring
• Performance Optimization
Organisation Sizes Covered:
• Large Enterprises
• Small & Medium Enterprises
• Discrete Industry
• Process Industry
• Other Industries
• 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
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- 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
Free Customization Offerings:
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
2.2 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
3 Market Trend Analysis
3.6 Application Analysis
3.7 Emerging Markets
3.8 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 Platform Market, By Type
5.2 Application Enablement Platform
5.3 Device Management
5.4 Connectivity Management
5.5 Other Types
6 Global Smart Manufacturing Platform Market, By Deployment Type
7 Global Smart Manufacturing Platform Market, By Application
7.2 Condition Monitoring
7.3 Performance Optimization
8 Global Smart Manufacturing Platform Market, By Organization Size
8.2 Large Enterprises
8.3 Small & Medium Enterprises
9 Global Smart Manufacturing Platform Market, By Industry
9.2 Discrete Industry
9.2.1 Aerospace &Defense
9.2.3 Medical Devices
9.2.4 Electronics & Semiconductor
9.2.5 Industrial Manufacturing
9.3 Process Industry
9.3.1 Electronics & Semiconductor
9.3.2 Metals & Mining
9.3.3 Oil & Gas
9.3.5 Power & Energy
9.3.6 Food & Beverages
9.4 Other Industries
10 Global Smart Manufacturing Platform Market, By Geography
10.2 North America
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.5 Other Key Strategies
12 Company Profiling
12.1 Schneider Electric SE
12.2 Microsoft Corporation
12.3 Fujitsu Ltd
12.4 Robert Bosch GmbH
12.5 Flutura Decision Sciences and Analytics
12.6 Hitachi Consulting Corporation
12.7 SAP SE
12.8 ABB Group
12.9 OSRAM GmbH
12.11 Amazon.com, Inc.
12.12 Accenture Plc.
12.13 Cisco Systems, Inc.
12.14 Oracle Corporation
List of Tables
1 Global Smart Manufacturing Platform Market Outlook, By Region (2020-2028) ($MN)
2 Global Smart Manufacturing Platform Market Outlook, By Type (2020-2028) ($MN)
3 Global Smart Manufacturing Platform Market Outlook, By Application Enablement Platform (2020-2028) ($MN)
4 Global Smart Manufacturing Platform Market Outlook, By Device Management (2020-2028) ($MN)
5 Global Smart Manufacturing Platform Market Outlook, By Connectivity Management (2020-2028) ($MN)
6 Global Smart Manufacturing Platform Market Outlook, By Other Types (2020-2028) ($MN)
7 Global Smart Manufacturing Platform Market Outlook, By Deployment Type (2020-2028) ($MN)
8 Global Smart Manufacturing Platform Market Outlook, By On-site (2020-2028) ($MN)
9 Global Smart Manufacturing Platform Market Outlook, By Cloud (2020-2028) ($MN)
10 Global Smart Manufacturing Platform Market Outlook, By Application (2020-2028) ($MN)
11 Global Smart Manufacturing Platform Market Outlook, By Condition Monitoring (2020-2028) ($MN)
12 Global Smart Manufacturing Platform Market Outlook, By Performance Optimization (2020-2028) ($MN)
13 Global Smart Manufacturing Platform Market Outlook, By Organization Size (2020-2028) ($MN)
14 Global Smart Manufacturing Platform Market Outlook, By Large Enterprises (2020-2028) ($MN)
15 Global Smart Manufacturing Platform Market Outlook, By Small & Medium Enterprises (2020-2028) ($MN)
16 Global Smart Manufacturing Platform Market Outlook, By Industry (2020-2028) ($MN)
17 Global Smart Manufacturing Platform Market Outlook, By Discrete Industry (2020-2028) ($MN)
18 Global Smart Manufacturing Platform Market Outlook, By Aerospace &Defense (2020-2028) ($MN)
19 Global Smart Manufacturing Platform Market Outlook, By Automotive (2020-2028) ($MN)
20 Global Smart Manufacturing Platform Market Outlook, By Medical Devices (2020-2028) ($MN)
21 Global Smart Manufacturing Platform Market Outlook, By Electronics & Semiconductor (2020-2028) ($MN)
22 Global Smart Manufacturing Platform Market Outlook, By Industrial Manufacturing (2020-2028) ($MN)
23 Global Smart Manufacturing Platform Market Outlook, By Process Industry (2020-2028) ($MN)
24 Global Smart Manufacturing Platform Market Outlook, By Electronics & Semiconductor (2020-2028) ($MN)
25 Global Smart Manufacturing Platform Market Outlook, By Metals & Mining (2020-2028) ($MN)
26 Global Smart Manufacturing Platform Market Outlook, By Oil & Gas (2020-2028) ($MN)
27 Global Smart Manufacturing Platform Market Outlook, By Chemicals (2020-2028) ($MN)
28 Global Smart Manufacturing Platform Market Outlook, By Power & Energy (2020-2028) ($MN)
29 Global Smart Manufacturing Platform Market Outlook, By Food & Beverages (2020-2028) ($MN)
30 Global Smart Manufacturing Platform Market Outlook, By Other Industries (2020-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
Frequently Asked Questions
In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: email@example.com or phone: +1-301-202-5929
Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.
Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.
All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: firstname.lastname@example.org or phone: +1-301-202-5929
We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at email@example.com or call us on +1-301-202-5929.
We have 3 different licensing options available in electronic format.
- Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
- 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
- Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.
All our reports are typically be emailed to you as an attachment.
To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.
We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.
We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at firstname.lastname@example.org or call us on +1-301-202-5929.
Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.
WHY CHOOSE US ?
Best in class reports with high standard of research integrity
24X7 Research Support
Continuous support to ensure the best customer experience.
Adding more values to your product of interest.
Safe & Secure Access
Providing a secured environment for all online transactions.
Trusted by 600+ Brands
Serving the most reputed brands across the world.