Dublin, Nov. 04, 2022 (GLOBE NEWSWIRE) -- The "Smart Manufacturing Market Forecast to 2028 - COVID-19 Impact and Global Analysis By End User and Component" report has been added to ResearchAndMarkets.com's offering.
The smart manufacturing market is expected to grow from US$ 258.72 million in 2022 to US$ 365.22 million by 2028; it is estimated to grow at a CAGR of 6.0% from 2022 to 2028.
The constant need to improve productivity and enhance visibility in the manufacturing processes has propelled the adoption of digitization in the manufacturing sector. Increased focus on combining innovation and efficiency of innovation across various domains and major technological advancements in data analytics, predictive maintenance, and industrial networking is boosting the growth of the smart manufacturing market.
Growing demand for software systems that are consolidated and streamlined over a single platform for providing real-time information is also bolstering the market growth. Moreover, Industry 4.0 is aiding the transformation of industries from legacy systems to smart components.
The rapidly growing automotive sector that offers benefits such as asset efficiency, cost savings, quality, and sustainability is bolstering the growth of smart factory solutions. Investments in the smart factory would offer automotive manufacturers competitive advantages, including better profitability and shortened time to market. Various smart manufacturing initiatives by governments, such as the Smart Manufacturing Leadership Coalition (SMLC) and the Industrial Internet Consortium (IIC), to boost industrial automation are also fueling the smart manufacturing market growth.
North America accounts for a significant share of the global smart manufacturing market. The growing adoption of industrial automation solutions, including IoT and cloud platforms; rising emphasis on regulatory compliances; and increasing demand for software systems that reduce time and cost are a few of the key forces propelling the market growth in the region.
The rapid adoption of 3D food printing and machine vision, among other technologies, in the European Union, high investments in automation technologies for design flexibility, innovative and integrated safety solutions, and advanced software tools are boosting the smart manufacturing market growth in European countries such as Germany, France, and the UK.
Manufacturers in the automotive, aerospace & defense, food & beverages, and semiconductor & electronics industries in these countries are increasingly adopting 3D printing technologies to produce lightweight, cost-effective products.
The rise of Big Data processing capabilities such as Hadoop, R, Storm, and streaming analytics support the operational visibility, analysis, and diagnostics of supply chains. The integration of Big Data analytics into industrial equipment is enabling the market players to analyze its lifespan, capacity fluctuation, and demand patterns, which is further boosting the adoption of smart manufacturing solutions.
The smart manufacturing market in APAC is expected to grow at the highest CAGR during the forecast period. Countries in the region are focusing on automating in-house manufacturing facilities with initiatives such as "Make in India" and "Made in China 2025." Manufacturers are streamlining their supply chains to gain a competitive edge over other players, improve safety at workplaces, and reduce the cost of operations.
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Smart Manufacturing Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 Asia Pacific
4.2.4 Middle East & Africa
4.2.5 South America
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Smart Manufacturing Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Escalating Demand for Smart Machine Vision Systems
5.1.2 Countries with Huge Industrial Sector and Implementation of Advanced Techniques
5.2 Market Restraints
5.2.1 Risks to Data Security and Compatibility Issues
5.3 Market Opportunities
5.3.1 Surging Adoption of RTLS
5.4 Future Trends
5.4.1 Growing Use of Robotics in Automation
5.4.2 Revolution in Smart Factories
5.5 Impact Analysis of Drivers and Restraints
6. Smart Manufacturing Market - Global Analysis
6.1 Smart Manufacturing Market Overview
6.2 Smart Manufacturing Market Revenue and Forecast to 2028 (US$ Billion)
6.3 Market Positioning - Five Key Players
7. Smart Manufacturing Market Analysis - By End User
7.1 Overview
7.2 Smart Manufacturing Market Breakdown, By End User (2020 and 2028)
7.3 Discrete Industry
7.3.1 Overview
7.3.2 Discrete Industry: Smart Manufacturing Market Revenue and Forecast to 2028 (US$ Million)
7.3.2.1 Defense
7.3.2.1.1 Overview
7.3.2.1.2 Defense Market Revenue and Forecast to 2028 (US$ Million)
7.3.2.2 Medical Devices
7.3.2.2.1 Overview
7.3.2.2.2 Medical Devices Market Revenue and Forecast to 2028 (US$ Million)
7.3.2.3 Automotive
7.3.2.3.1 Overview
7.3.2.3.2 Automotive Market Revenue and Forecast to 2028 (US$ Million)
7.3.2.4 Semiconductors and Electronics
7.3.2.4.1 Overview
7.3.2.4.2 Semiconductors and Electronics Market Revenue and Forecast to 2028 (US$ Million)
7.3.2.5 Machine Manufacturing
7.3.2.5.1 Overview
7.3.2.5.2 Machine Manufacturing Market Revenue and Forecast to 2028 (US$ Million)
7.3.2.6 Aerospace
7.3.2.6.1 Overview
7.3.2.6.2 Aerospace Market Revenue and Forecast to 2028 (US$ Million)
7.3.2.7 Others
7.3.2.7.1 Overview
7.3.2.7.2 Others Market Revenue and Forecast to 2028 (US$ Million)
7.4 Process Industry
7.4.1 Overview
7.4.2 Process Industry: Smart Manufacturing Market Revenue and Forecast to 2028 (US$ Million)
7.4.2.1 Pulp and Paper
7.4.2.1.1 Overview
7.4.2.1.2 Pulp and Paper Market Revenue and Forecast to 2028 (US$ Million)
7.4.2.2 Metals and Mining
7.4.2.2.1 Overview
7.4.2.2.2 Metals and Mining Market Revenue and Forecast to 2028 (US$ Million)
7.4.2.3 Pharmaceuticals
7.4.2.3.1 Overview
7.4.2.3.2 Pharmaceuticals Market Revenue and Forecast to 2028 (US$ Million)
7.4.2.4 Oil and Gas
7.4.2.4.1 Overview
7.4.2.4.2 Oil and Gas Market Revenue and Forecast to 2028 (US$ Million)
7.4.2.5 Energy and Power
7.4.2.5.1 Overview
7.4.2.5.2 Energy and Power Market Revenue and Forecast to 2028 (US$ Million)
7.4.2.6 Chemicals
7.4.2.6.1 Overview
7.4.2.6.2 Chemicals Market Revenue and Forecast to 2028 (US$ Million)
7.4.2.7 Food and Beverages
7.4.2.7.1 Overview
7.4.2.7.2 Food and Beverages Market Revenue and Forecast to 2028 (US$ Million)
7.4.2.8 Others
7.4.2.8.1 Overview
7.4.2.8.2 Others Market Revenue and Forecast to 2028 (US$ Million)
8. Smart Manufacturing Market Analysis - By Component
8.1 Overview
8.2 Smart Manufacturing Market Breakdown, By Component (2020 and 2028)
8.3 Hardware
8.3.1 Overview
8.3.2 Hardware: Smart Manufacturing Market Revenue and Forecast to 2028 (US$ Million)
8.3.2.1 Sensors
8.3.2.1.1 Overview
8.3.2.1.2 Sensors Market Revenue and Forecast to 2028 (US$ Million)
8.3.2.2 RTLS
8.3.2.2.1 Overview
8.3.2.2.2 RTLS Market Revenue and Forecast to 2028 (US$ Million)
8.3.2.3 Robotics
8.3.2.3.1 Overview
8.3.2.3.2 Robotics Market Revenue and Forecast to 2028 (US$ Million)
8.3.2.4 Industrial Machine Vision
8.3.2.4.1 Overview
8.3.2.4.2 Industrial Machine Vision Market Revenue and Forecast to 2028 (US$ Million)
8.3.2.5 Warehouse Management System
8.3.2.5.1 Overview
8.3.2.5.2 Warehouse Management System Market Revenue and Forecast to 2028 (US$ Million)
8.3.2.6 Human-Machine Interface
8.3.2.6.1 Overview
8.3.2.6.2 Human-Machine Interface Market Revenue and Forecast to 2028 (US$ Million)
8.3.2.7 Industrial Communication
8.3.2.7.1 Overview
8.3.2.7.2 Industrial Communication Market Revenue and Forecast to 2028 (US$ Million)
8.3.2.8 Industrial 3D printing
8.3.2.8.1 Overview
8.3.2.8.2 Industrial 3D Printing Market Revenue and Forecast to 2028 (US$ Million)
8.3.2.9 IIoT
8.3.2.9.1 Overview
8.3.2.9.2 IIoT Market Revenue and Forecast to 2028 (US$ Million)
8.4 Software
8.4.1 Overview
8.4.2 Software: Smart Manufacturing Market Revenue and Forecast to 2028 (US$ Million)
8.4.2.1 Enterprise Manufacturing Intelligence
8.4.2.1.1 Overview
8.4.2.1.2 Enterprise Manufacturing Intelligence Market Revenue and Forecast to 2028 (US$ Million)
8.4.2.2 Plant Asset Management Market
8.4.2.2.1 Overview
8.4.2.2.2 Plant Asset Management Market Revenue and Forecast to 2028 (US$ Million)
8.4.2.3 Digital Twin
8.4.2.3.1 Overview
8.4.2.3.2 Digital Twin Market Revenue and Forecast to 2028 (US$ Million)
8.4.2.4 AI in manufacturing
8.4.2.4.1 Overview
8.4.2.4.2 AI in manufacturing Market Revenue and Forecast to 2028 (US$ Million)
8.4.2.5 Others
8.4.2.5.1 Overview
8.4.2.5.2 Others Market Revenue and Forecast to 2028 (US$ Million)
9. Smart manufacturing Market - Geographic Analysis
10. Smart Manufacturing Market- COVID-19 Impact Analysis
10.1 Overview
10.1.1 North America: Impact Assessment of COVID-19 Pandemic
10.1.2 Europe: Impact Assessment of COVID-19 Pandemic
10.1.3 Asia Pacific: Impact Assessment of COVID-19 Pandemic
10.1.4 MEA: Impact Assessment of COVID-19 Pandemic
10.1.5 SAM: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
11.4 Merger and Acquisition
12. Company Profiles
12.1 Yokogawa Electric Corporation
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Cisco Systems, Inc.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Honeywell International Inc.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 3D Systems, Inc.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Daifuku Co., Ltd.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 GENERAL ELECTRIC
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 IBM Corporation
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Oracle Corporation
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Siemens AG
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Schneider Electric SE
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/5qyn2f
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