Global smart manufacturing market is estimated to grow with 9.04% CAGR during the forecast period 2019-2027. Smart manufacturing is a broad category of manufacturing which has the goal of optimizing the manufacturing process. It is the process which implements computer controls, big data and other automation so as to improve manufacturing efficiencies. Smart manufacturing has the aim to utilize advanced information & manufacturing technologies in order to enable flexibility in physical processes to address a global and dynamic market.

GLOBAL SMART MANUFACTURING MARKET FORECAST 2019-2027

Global Smart Manufacturing Market by Component (Hardware, Software, Services), by Technology (Mes (Manufacturing Execution System),plc (Programmable Logic Controller), Erp (Enterprise Resource Planning), Scada (Supervisory Control and Data Acquisition), Dcs (Distributed Control System), Hmi (Human-machine Interface), Machine Vision, 3d Printing, Plm (Product Lifecycle Management), Pam (Purchase Activated Manufacturing)), by End User (Automotive, Aerospace & Defense, Chemicals & Materials, Healthcare, Industrial Equipment, Electronics, Food & Agriculture, Oil & Gas, Others), & Geography.

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Report Summary

The global smart manufacturing market was valued at $172.44 billion in 2018 & is estimated to generate net revenue of approximately $371.78 billion by 2027, growing at a CAGR of 9.04%. Smart manufacturing is a broad category of manufacturing which has the goal of optimizing the manufacturing process. It is the process which implements computer controls, big data and other automation so as to improve manufacturing efficiencies. Smart manufacturing has the aim to utilize advanced information & manufacturing technologies in order to enable flexibility in physical processes to address a global and dynamic market. Smart Manufacturing is being expected to be the next industrial revolution. Similar to many other advances throughout recent years, it all has to do with technology connectivity and the advances in the contextualization of data. The National Institute of Standards and Technology (NIST) defines smart manufacturing as the systems which are fully-integrated, collaborative manufacturing systems that respond in real-time to meet changing demands and conditions in the factory, in the supply network and customer needs.

Smart manufacturing flattens the hierarchies by providing more access to supplementary business data to other people, which otherwise would have been obtained through the slow process of information going upwards and decisions coming to the hierarchy downwards. In smart manufacturing, the data no longer has to be directed to a person and can be sent to the machine, that is learning as events are happening, notifying a person only when necessary. Smart manufacturing supports achieving sustainability by providing real-time data for capturing opportunities; keeping costs down and productivity up with an improvized understanding of waste & material losses, and monitoring workforce challenges.

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The factors such as faster data gathering, processing and communication made possible by smart manufacturing enable faster decision making. Opportunities or problems which are identified in time and dealt quickly will help decision-makers respond to changes in the marketplace, whether global or local and to shift production to where it is most profitable. Thus, companies implement smart manufacturing to make easy profits effectively.

Factors that are driving the growth of the market are:

Rapid growth of internet of things
Rising demand for automation, quality and efficiency
Requirement of compliance and government support for digitization

Security concerns and high capital investment are hindering the global smart manufacturing market. Collection of irrelevant data and unemployment due to smart manufacturing can challenge the market.

The smart manufacturing market has been segmented by technology, component, end user and geography. Based on the component segment, the market is sub-segmented into hardware, software and services. Huge quantities of data are generated in production environments every day. Data can help understand whether a production process meets the quality standards, whether the planned output is achievable, or whether a machine is experiencing a malfunction. So, the software can help to analyze the issue with the manufacturing process in an accurate manner.

Global Smart manufacturing market is segmented as:

Market By Component
- Hardware
- Software
- Services
Market By Technology
- MES (Manufacturing Execution System)
- PLC (Programmable Logic Controller)
- ERP (Enterprise Resource Planning)
- SCADA (Supervisory Control And Data Acquisition)
- DCS (Distributed Control System)
- HMI (Human-Machine Interface)
- Machine Vision
- 3D PRINTING
- PLM (Product Lifecycle Management)
- PAM (Purchase Activated Manufacturing)
Market By End User
- Automotive
- Aerospace & defense
- Chemicals & materials
- Healthcare
- Industrial equipment
- Electronics
- Food & agriculture
- Oil & Gas
- Others

Geographically, the global smart manufacturing market has been segmented on the basis of four major regions, which include:

Smart Manufacturing North America Market– the United States & Canada
Smart Manufacturing Europe Market– The United Kingdom, France, Germany, Italy, Spain, Russia and Rest of Europe
Smart Manufacturing Asia Pacific Market – China, India, Japan, South Korea, Australia and Rest of Asia Pacific
Rest of World- Latin America and Middle East & Africa

The Asia Pacific accounted for the largest share (35.14%) of the global market in 2018 and is expected to remain dominant throughout the forecast period. The growing digitization across various industries such as automotive and industrial manufacturing has been gathering traction in the region as manufacturers are trying to keep up with the global changes and quality challenges.

The major market players of the global smart manufacturing market are:

- - ABB Ltd
  - Emerson Electric Co.
  - Fanuc Corporation
  - General Electric Company
  - Honeywell International Inc.
  - Mitsubishi Electric Corporation
  - Robert Bosch GMBH
  - Rockwell Automation Inc.
  - Schneider Electric SE
  - Siemens AG
  - Yokogawa Electric Corporation

Company profiles of the prominent market players are discussed in detail. Most of the companies look for strategies such as merger & acquisition, partnership, contracts, agreements, new product launch, in order to gain a competitive edge over other companies.

Key Findings of the global smart manufacturing market:

The software component is projected to grow at a significant CAGR
3D printing technology is expected to show the highest growth rate
The automotive industry is the largest end user and fast growing in smart manufacturing market

RESEARCH SCOPE
- STUDY GOALS
- SCOPE OF THE MARKET STUDY
- WHO WILL FIND THIS REPORT USEFUL?
- STUDY AND FORECASTING YEARS
RESEARCH METHODOLOGY
- SOURCES OF DATA
  - SECONDARY DATA
  - PRIMARY DATA
- TOP-DOWN APPROACH
- BOTTOM-UP APPROACH
- DATA TRIANGULATION
EXECUTIVE SUMMARY
- MARKET SUMMARY
- KEY FINDINGS
  - SOFTWARE COMPONENT IS PROJECTED TO GROW AT A SIGNIFICANT CAGR
  - 3D PRINTING TECHNOLOGY IS EXPECTED TO SHOW HIGHEST GROWTH RATE
  - AUTOMOTIVE INDUSTRY IS THE LARGEST END USER AND FAST GROWING IN SMART MANUFACTURING MARKET

MARKET DYNAMICS
- MARKET DEFINITION & SCOPE
- MARKET DRIVERS
  - RAPID GROWTH OF INTERNET OF THINGS
  - RISING DEMAND FOR AUTOMATION, QUALITY AND EFFICIENCY
  - REQUIREMENT OF COMPLIANCE AND GOVERNMENT SUPPORT FOR DIGITIZATION
- MARKET RESTRAINTS
  - SECURITY CONCERNS
  - HIGH CAPITAL INVESTMENT REQUIRED FOR SETTING UP SMART MANUFACTURING
- MARKET OPPORTUNITIES
  - CONTINUOUS GROWTH OF THE AEROSPACE AND DEFENSE INDUSTRY
  - PREFERENCE OF CUSTOMER TOWARDS DURABLE AND CHEAP PRODUCTS
- MARKET CHALLENGES
  - COLLECTION OF IRRELEVANT DATA LEAD TO POOR ANALYSIS OF PROBLEM
  - SMART MANUFACTURING LEADING TO UNEMPLOYMENT

MARKET BY COMPONENT
- HARDWARE
- SOFTWARE
- SERVICES
MARKET BY TECHNOLOGY
- MES (MANUFACTURING EXECUTION SYSTEM)
- PLC (PROGRAMMABLE LOGIC CONTROLLER)
- ERP (ENTERPRISE RESOURCE PLANNING)
- SCADA (SUPERVISORY CONTROL AND DATA ACQUISITION)
- DCS (DISTRIBUTED CONTROL SYSTEM)
- HMI (HUMAN-MACHINE INTERFACE)
- MACHINE VISION
- 3D PRINTING
- PLM (PRODUCT LIFECYCLE MANAGEMENT)
- PAM (PURCHASE ACTIVATED MANUFACTURING)
MARKET BY END USER
- AUTOMOTIVE
- AEROSPACE & DEFENSE
- CHEMICALS & MATERIALS
- HEALTHCARE
- INDUSTRIAL EQUIPMENT
- ELECTRONICS
- FOOD & AGRICULTURE
- OIL & GAS
- OTHERS
KEY ANALYTICS
- PORTER’S FIVE FORCE MODEL
  - THREAT OF NEW ENTRANTS
  - THREAT OF SUBSTITUTE
  - BARGAINING POWER OF SUPPLIERS
  - BARGAINING POWER OF BUYERS
  - THREAT OF COMPETITIVE RIVALRY
- OPPORTUNITY MATRIX
- VENDOR LANDSCAPE
GEOGRAPHICAL ANALYSIS
- NORTH AMERICA
  - UNITED STATES
  - CANADA
- EUROPE
  - UNITED KINGDOM
  - GERMANY
  - FRANCE
  - ITALY
  - SPAIN
  - RUSSIA
  - ROE (REST OF EUROPE)
- ASIA PACIFIC
  - INDIA
  - CHINA
  - JAPAN
  - AUSTRALIA
  - SOUTH KOREA
  - REST OF ASIA PACIFIC
- REST OF WORLD
  - LATIN AMERICA
  - MIDDLE EAST AND AFRICA

COMPETITIVE LANDSCAPE
- COMPANY PROFILE
  - ABB LTD
  - EMERSON ELECTRIC CO.
  - FANUC CORPORATION
  - GENERAL ELECTRIC COMPANY
  - HONEYWELL INTERNATIONAL
  - MITSUBISHI ELECTRIC CORPORATION
  - ROBERT BOSCH GMBH
  - ROCKWELL AUTOMATION INC.
  - SCHNEIDER ELECTRIC SE
  - SIEMENS AG
  - YOKOGAWA ELECTRIC CORPORATION

LIST OF TABLES

TABLE 1 GLOBAL SMART MANUFACTURING MARKET, BY GEOGRAPHY, 2019-2027, (IN $ BILLION)

TABLE 2 GLOBAL SMART MANUFACTURING MARKET, BY COMPONENT, 2019-2027, (IN $ BILLION)

TABLE 3 GLOBAL HARDWARE MARKET, BY REGION, 2019-2027, (IN $ BILLION)

TABLE 4 GLOBAL SOFTWARE MARKET, BY REGION, 2019-2027, (IN $ BILLION)

TABLE 5 GLOBAL SERVICES MARKET, BY REGION, 2019-2027, (IN $ BILLION)

TABLE 6 GLOBAL SMART MANUFACTURING MARKET, BY TECHNOLOGY, 2019-2027, (IN $ BILLION)

TABLE 7 GLOBAL MES MARKET, BY REGION, 2019-2027, (IN $ BILLION)

TABLE 8 GLOBAL PLC MARKET, BY REGION, 2019-2027, (IN $ BILLION)

TABLE 9 GLOBAL ERP MARKET, BY REGION, 2019-2027, (IN $ BILLION)

TABLE 10 GLOBAL SCADA MARKET, BY REGION, 2019-2027, (IN $ BILLION)

TABLE 11 GLOBAL DCS MARKET, BY REGION, 2019-2027, (IN $ BILLION)

TABLE 12 GLOBAL HMI MARKET, BY REGION, 2019-2027, (IN $ BILLION)

TABLE 13 GLOBAL MACHINE VISION MARKET, BY REGION, 2019-2027, (IN $ BILLION)

TABLE 14 GLOBAL 3D PRINTING MARKET, BY REGION, 2019-2027, (IN $ BILLION)

TABLE 15 GLOBAL PLM MARKET, BY REGION, 2019-2027, (IN $ BILLION)

TABLE 16 GLOBAL PAM MARKET, BY REGION, 2019-2027, (IN $ BILLION)

TABLE 17 GLOBAL SMART MANUFACTURING MARKET, BY END USER, 2019-2027, (IN $ BILLION)

TABLE 18 GLOBAL AUTOMOTIVE MARKET, BY REGION, 2019-2027, (IN $ BILLION)

TABLE 19 GLOBAL AEROSPACE & DEFENSE MARKET, BY REGION, 2019-2027, (IN $ BILLION)

TABLE 20 GLOBAL CHEMICALS & MATERIALS MARKET, BY REGION, 2019-2027, (IN $ BILLION)

TABLE 21 GLOBAL HEALTHCARE MARKET, BY REGION, 2019-2027, (IN $ BILLION)

TABLE 22 GLOBAL INDUSTRIAL EQUIPMENT MARKET, BY REGION, 2019-2027, (IN $ BILLION)

TABLE 23 GLOBAL ELECTRONICS MARKET, BY REGION, 2019-2027, (IN $ BILLION)

TABLE 24 GLOBAL FOOD & AGRICULTURE MARKET, BY REGION, 2019-2027, (IN $ BILLION)

TABLE 25 GLOBAL OIL & GAS MARKET, BY REGION, 2019-2027, (IN $ BILLION)

TABLE 26 GLOBAL OTHER MARKETS, BY REGION, 2019-2027, (IN $ BILLION)

TABLE 27 OPPORTUNITY MATRIX

TABLE 28 VENDOR LANDSCAPE

TABLE 29 GLOBAL SMART MANUFACTURING MARKET, BY GEOGRAPHY, 2019-2027, (IN $ BILLION)

TABLE 30 NORTH AMERICA SMART MANUFACTURING MARKET, BY COUNTRY, 2019-2027 (IN $ BILLION)

TABLE 31 EUROPE SMART MANUFACTURING MARKET, BY COUNTRY, 2019-2027 (IN $ BILLION)

TABLE 32 ASIA PACIFIC SMART MANUFACTURING MARKET, BY COUNTRY, 2019-2027 (IN $ BILLION)

TABLE 33 REST OF WORLD SMART MANUFACTURING MARKET, BY REGIONS, 2019-2027 (IN $ BILLION)

LIST OF FIGURE

FIGURE 1 GLOBAL SMART MANUFACTURING MARKET SHARE, BY END USER 2018 & 2027 (%)

FIGURE 2 SOFTWARE COMPONENT OF SMART MANUFACTURING MARKET, 2019 – 2027 (IN $ BILLION)

FIGURE 3 3D PRINTING FOR SMART MANUFACTURING MARKET, 2019 – 2027 (IN $ BILLION)

FIGURE 4 AUTOMOTIVE SMART MANUFACTURING MARKET ($ BILLION)

FIGURE 5 GLOBAL SMART MANUFACTURING MARKET, BY DCS, 2019-2027, (IN $ BILLION)

FIGURE 6 GLOBAL SMART MANUFACTURING MARKET, BY HMI, 2019-2027, (IN $ BILLION)

FIGURE 7 GLOBAL SMART MANUFACTURING MARKET, BY MACHINE VISION, 2019-2027, (IN $ BILLION)

FIGURE 8 GLOBAL SMART MANUFACTURING MARKET, BY 3D PRINTING, 2019-2027, (IN $ BILLION)

FIGURE 9 GLOBAL SMART MANUFACTURING MARKET, BY PLM, 2019-2027, (IN $ BILLION)

FIGURE 10 GLOBAL SMART MANUFACTURING MARKET, BY PAM, 2019-2027, (IN $ BILLION)

FIGURE 11 GLOBAL SMART MANUFACTURING MARKET, BY AUTOMOTIVE SECTOR, 2019-2027, (IN $ BILLION)

FIGURE 12 GLOBAL SMART MANUFACTURING MARKET, BY AEROSPACE & DEFENSE SECTOR, 2019-2027, (IN $ BILLION)

FIGURE 13 GLOBAL SMART MANUFACTURING MARKET, BY CHEMICALS & MATERIALS SECTOR, 2019-2027, (IN $ BILLION)

FIGURE 14 GLOBAL SMART MANUFACTURING MARKET, BY HEALTHCARE SECTOR, 2019-2027, (IN $ BILLION)

FIGURE 15 GLOBAL SMART MANUFACTURING MARKET, BY INDUSTRIAL EQUIPMENT SECTOR, 2019-2027, (IN $ BILLION)

FIGURE 16 GLOBAL SMART MANUFACTURING MARKET, BY ELECTRONICS SECTOR, 2019-2027, (IN $ BILLION)

FIGURE 17 GLOBAL SMART MANUFACTURING MARKET, BY FOOD & AGRICULTURE SECTOR, 2019-2027, (IN $ BILLION)

FIGURE 18 GLOBAL SMART MANUFACTURING MARKET, BY OIL & GAS SECTOR, 2019-2027, (IN $ BILLION)

FIGURE 19 GLOBAL SMART MANUFACTURING MARKET, BY OTHER SECTOR, 2019-2027, (IN $ BILLION)

FIGURE 20 PORTER’S FIVE FORCE MODEL

FIGURE 21 GLOBAL SMART MANUFACTURING MARKET, REGIONAL OUTLOOK, 2018 & 2027, (%)

FIGURE 22 UNITED STATES SMART MANUFACTURING MARKET, 2019-2027 (IN $ BILLION)

FIGURE 23 CANADA SMART MANUFACTURING MARKET, 2019-2027 (IN $ BILLION)

FIGURE 24 UNITED KINGDOM SMART MANUFACTURING MARKET, 2019-2027 (IN $ BILLION)

FIGURE 25 GERMANY SMART MANUFACTURING MARKET, 2019-2027 (IN $ BILLION)

FIGURE 26 FRANCE SMART MANUFACTURING MARKET, 2019-2027 (IN $ BILLION)

FIGURE 27 ITALY SMART MANUFACTURING MARKET, 2019-2027 (IN $ BILLION)

FIGURE 28 SPAIN SMART MANUFACTURING MARKET, 2019-2027 (IN $ BILLION)

FIGURE 29 RUSSIA SMART MANUFACTURING MARKET, 2019-2027 (IN $ BILLION)

FIGURE 30 ROE SMART MANUFACTURING MARKET, 2019-2027 (IN $ BILLION)

FIGURE 31 INDIA SMART MANUFACTURING MARKET, 2019-2027 (IN $ BILLION)

FIGURE 32 CHINA SMART MANUFACTURING MARKET, 2019-2027 (IN $ BILLION)

FIGURE 33 JAPAN SMART MANUFACTURING MARKET, 2019-2027 (IN $ BILLION)

FIGURE 34 AUSTRALIA SMART MANUFACTURING MARKET, 2019-2027 (IN $ BILLION)

FIGURE 35 SOUTH KOREA SMART MANUFACTURING MARKET, 2019-2027 (IN $ BILLION)

FIGURE 36 REST OF ASIA PACIFIC SMART MANUFACTURING MARKET, 2019-2027 (IN $ BILLION)

FIGURE 37 LATIN AMERICA SMART MANUFACTURING MARKET, 2019-2027 (IN $ BILLION)

FIGURE 38 MIDDLE EAST AND AFRICA SMART MANUFACTURING MARKET, 2019-2027 (IN $ BILLION)

Segmentation

MARKET BY COMPONENT
- HARDWARE
- SOFTWARE
- SERVICES
MARKET BY TECHNOLOGY
- MES (MANUFACTURING EXECUTION SYSTEM)
- PLC (PROGRAMMABLE LOGIC CONTROLLER)
- ERP (ENTERPRISE RESOURCE PLANNING)
- SCADA (SUPERVISORY CONTROL AND DATA ACQUISITION)
- DCS (DISTRIBUTED CONTROL SYSTEM)
- HMI (HUMAN-MACHINE INTERFACE)
- MACHINE VISION
- 3D PRINTING
- PLM (PRODUCT LIFECYCLE MANAGEMENT)
- PAM (PURCHASE ACTIVATED MANUFACTURING)
MARKET BY END USER
- AUTOMOTIVE
- AEROSPACE & DEFENSE
- CHEMICALS & MATERIALS
- HEALTHCARE
- INDUSTRIAL EQUIPMENT
- ELECTRONICS
- FOOD & AGRICULTURE
- OIL & GAS
- OTHERS
GEOGRAPHICAL ANALYSIS
- NORTH AMERICA
  - UNITED STATES
  - CANADA
- EUROPE
  - UNITED KINGDOM
  - GERMANY
  - FRANCE
  - ITALY
  - SPAIN
  - RUSSIA
  - ROE (REST OF EUROPE)
- ASIA PACIFIC
  - INDIA
  - CHINA
  - JAPAN
  - AUSTRALIA
  - SOUTH KOREA
  - REST OF ASIA PACIFIC
- REST OF WORLD
  - LATIN AMERICA
  - MIDDLE EAST AND AFRICA