GLOBAL SMART MANUFACTURING MARKET FORECAST 2019-2027

  • You are here:
  • Home
  • Reports
  • GLOBAL SMART MANUFACTURING MARKET FORECAST 2019-2027

GLOBAL SMART MANUFACTURING MARKET FORECAST 2019-2027

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

Request free sample

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. 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.

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:

  • North America – the United States & Canada
  • Europe – The United Kingdom, France, Germany, Italy, Spain, Russia and Rest of Europe
  • Asia Pacific – 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
  1. RESEARCH SCOPE
    • STUDY GOALS
    • SCOPE OF THE MARKET STUDY
    • WHO WILL FIND THIS REPORT USEFUL?
    • STUDY AND FORECASTING YEARS
  2. RESEARCH METHODOLOGY
    • SOURCES OF DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • TOP-DOWN APPROACH
    • BOTTOM-UP APPROACH
    • DATA TRIANGULATION
  3. 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
  1. 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
  1. MARKET BY COMPONENT
    • HARDWARE
    • SOFTWARE
    • SERVICES
  2. 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)
  3. MARKET BY END USER
    • AUTOMOTIVE
    • AEROSPACE & DEFENSE
    • CHEMICALS & MATERIALS
    • HEALTHCARE
    • INDUSTRIAL EQUIPMENT
    • ELECTRONICS
    • FOOD & AGRICULTURE
    • OIL & GAS
    • OTHERS
  4. 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
  5. 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
  1. 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)

  1. MARKET BY COMPONENT
    • HARDWARE
    • SOFTWARE
    • SERVICES
  2. 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)
  3. MARKET BY END USER
    • AUTOMOTIVE
    • AEROSPACE & DEFENSE
    • CHEMICALS & MATERIALS
    • HEALTHCARE
    • INDUSTRIAL EQUIPMENT
    • ELECTRONICS
    • FOOD & AGRICULTURE
    • OIL & GAS
    • OTHERS
  4. 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

To request a free sample copy of this report, please complete the form below :

We offer 10% free customization including country-level data, niche applications and competitive landscape with every report.

Choose License Type

Buy Now