Press release
Smart Manufacturing Market Report 2024 - Market Size, Growth Rate, Major Drivers And Key Trends | Siemens AG, General Electric Company, Rockwell Automation, Schneider Electric SE
"The smart manufacturing market size has grown rapidly in recent years. It will grow from $362.79 billion in 2023 to $414.75 billion in 2024 at a compound annual growth rate (CAGR) of 14.3%. The growth in the historic period can be attributed to advancements in industrialization, rise of big data analytics, focus on cyber-physical systems, globalization of supply chains, energy efficiency and sustainability, enhanced quality control measures, shift to smart factories,.
The smart manufacturing market size is expected to see rapid growth in the next few years. It will grow to $713.44 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%. The growth in the forecast period can be attributed to focus on resilient and adaptive manufacturing, shift to servitization models, demand for rapid prototyping and additive manufacturing, focus on continuous improvement, enhanced security measures, prominence of circular economy practices. Major trends in the forecast period include industry 4.0 integration, digital twin adoption, advanced robotics and automation, iot and sensor proliferation, edge computing for real-time processing, 5g connectivity for low-latency communication, artificial intelligence (ai) in manufacturing, human-machine collaboration.
Market Overview -
Smart manufacturing refers to a process that employs computer controls, modeling, big data, and other automation to improve manufacturing efficiencies. It analyzes machine and sensor data to improve operational efficiency and avoid downtime.
Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=8574&type=smp
Industry 4.0 Investments Propel Growth In The Smart Manufacturing Market
The rising number of investments in Industry 4.0 is expected to drive the smart manufacturing market going forward. The fourth (4.0) industrial revolution uses data to connect the digital and physical worlds. Industry 4.0 lays the way for new developments in the manufacturing industry by improving data collection and analysis at the edge and by releasing new depths of analytical insight. Industry 4.0 is transforming how businesses produce, enhance, and distribute their goods. The Internet of Things (IoT), cloud computing, analytics, AI, and machine learning are among the cutting-edge technologies that manufacturers are incorporating into their manufacturing processes. For instance, in 2021, Internet of Things Infrastructure received a total funding of $28.7 billion from more than 1,300 startups, making it one of the most active areas for investors. The most active investors in this industry, measured by the number of investments, include Plug and Play Tech Center, Qualcomm Ventures, Techstars, Cisco Investments, and Intel. Hence, the increasing investments in Industry 4.0 are expected to drive the smart manufacturing market.
Competitive Landscape -
Major companies operating in the smart manufacturing market report are Siemens AG, General Electric Company, Rockwell Automation, Schneider Electric SE, Honeywell International Inc., Emerson Electric, ABB India Limited, Amazon Web Services Inc., Robert Bosch Manufacturing Solutions GmbH, Cisco Systems Inc., 3D Systems Corporation, Plex Systems Inc., Cognex Corporation, PTC Inc., Mitsubishi Electric Corporation, HP Development Company L.P., SAP SE, Hitachi Ltd., IBM Corporation, Oracle Corporation, Microsoft Corporation, Intel Corporation, Fujitsu Limited, Fanuc Corporation, Kuka AG, Omron Corporation, Panasonic Corporation, Toshiba Corporation, Yokogawa Electric Corporation
Technological Advancement Drives Momentum In The Smart Manufacturing Market
Technological advancement is a key trend gaining popularity in the smart manufacturing market. Major companies in the smart manufacturing market are advancing in their new technologies and research and developments to sustain their marketplace. For instance, in January 2021, Rockwell Automation, Inc., a US-based provider of industrial automation, introduced a QuickStick Intelligent Conveyor System, that helps to boost throughput while lowering the total cost of ownership. It offers pallet conveyor systems a quicker, cleaner, and more effective substitute in the assembly and process automation markets.
Browse Full Report @
https://www.thebusinessresearchcompany.com/report/smart-manufacturing-global-market-report
Key Segments -
The smart manufacturing market covered in this report is segmented -
1) By Component: Hardware, Software, Services
2) By Technology: Machine Execution Systems (MES), Programmable Logic Controller (PLC), Enterprise Resource Planning (ERP), SCADA, Discrete Control Systems (DCS), Machine Vision, 3D Printing, Other Technologies
3) By End-User: Automotive, Aerospace and Defense, Chemicals and Materials, Healthcare, Industrial Equipment, Electronics, Food and Agriculture, Oil and Gas, Other End-Users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
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Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model "
Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps
The smart manufacturing market size is expected to see rapid growth in the next few years. It will grow to $713.44 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%. The growth in the forecast period can be attributed to focus on resilient and adaptive manufacturing, shift to servitization models, demand for rapid prototyping and additive manufacturing, focus on continuous improvement, enhanced security measures, prominence of circular economy practices. Major trends in the forecast period include industry 4.0 integration, digital twin adoption, advanced robotics and automation, iot and sensor proliferation, edge computing for real-time processing, 5g connectivity for low-latency communication, artificial intelligence (ai) in manufacturing, human-machine collaboration.
Market Overview -
Smart manufacturing refers to a process that employs computer controls, modeling, big data, and other automation to improve manufacturing efficiencies. It analyzes machine and sensor data to improve operational efficiency and avoid downtime.
Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=8574&type=smp
Industry 4.0 Investments Propel Growth In The Smart Manufacturing Market
The rising number of investments in Industry 4.0 is expected to drive the smart manufacturing market going forward. The fourth (4.0) industrial revolution uses data to connect the digital and physical worlds. Industry 4.0 lays the way for new developments in the manufacturing industry by improving data collection and analysis at the edge and by releasing new depths of analytical insight. Industry 4.0 is transforming how businesses produce, enhance, and distribute their goods. The Internet of Things (IoT), cloud computing, analytics, AI, and machine learning are among the cutting-edge technologies that manufacturers are incorporating into their manufacturing processes. For instance, in 2021, Internet of Things Infrastructure received a total funding of $28.7 billion from more than 1,300 startups, making it one of the most active areas for investors. The most active investors in this industry, measured by the number of investments, include Plug and Play Tech Center, Qualcomm Ventures, Techstars, Cisco Investments, and Intel. Hence, the increasing investments in Industry 4.0 are expected to drive the smart manufacturing market.
Competitive Landscape -
Major companies operating in the smart manufacturing market report are Siemens AG, General Electric Company, Rockwell Automation, Schneider Electric SE, Honeywell International Inc., Emerson Electric, ABB India Limited, Amazon Web Services Inc., Robert Bosch Manufacturing Solutions GmbH, Cisco Systems Inc., 3D Systems Corporation, Plex Systems Inc., Cognex Corporation, PTC Inc., Mitsubishi Electric Corporation, HP Development Company L.P., SAP SE, Hitachi Ltd., IBM Corporation, Oracle Corporation, Microsoft Corporation, Intel Corporation, Fujitsu Limited, Fanuc Corporation, Kuka AG, Omron Corporation, Panasonic Corporation, Toshiba Corporation, Yokogawa Electric Corporation
Technological Advancement Drives Momentum In The Smart Manufacturing Market
Technological advancement is a key trend gaining popularity in the smart manufacturing market. Major companies in the smart manufacturing market are advancing in their new technologies and research and developments to sustain their marketplace. For instance, in January 2021, Rockwell Automation, Inc., a US-based provider of industrial automation, introduced a QuickStick Intelligent Conveyor System, that helps to boost throughput while lowering the total cost of ownership. It offers pallet conveyor systems a quicker, cleaner, and more effective substitute in the assembly and process automation markets.
Browse Full Report @
https://www.thebusinessresearchcompany.com/report/smart-manufacturing-global-market-report
Key Segments -
The smart manufacturing market covered in this report is segmented -
1) By Component: Hardware, Software, Services
2) By Technology: Machine Execution Systems (MES), Programmable Logic Controller (PLC), Enterprise Resource Planning (ERP), SCADA, Discrete Control Systems (DCS), Machine Vision, 3D Printing, Other Technologies
3) By End-User: Automotive, Aerospace and Defense, Chemicals and Materials, Healthcare, Industrial Equipment, Electronics, Food and Agriculture, Oil and Gas, Other End-Users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model "
Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps
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