Smart Manufacturing Market Size, Share, Growth, Global Trends, Industry Analysis and Forecast to 2027

Price: 3200/- USD | Published Date: May 2, 2020 |


The global smart manufacturing market size was valued at more than USD 210 billion in 2019 and expected to grow at a higher CAGR of around 12% during the forecast period 2020 to 2027. The rising adaptation of industry 4.0 is a key factor to drive market growth. Internet of Things (IoT), Industrial Internet of Things (IIoT), cognitive computing, cloud computing, and artificial intelligence are such factors to boost smart manufacturing in upcoming years. Moreover, industrial automation in manufacturing and connected supply chain will play a vital role to spur the market growth over the forecast period.

The market is segmented on the basis of component, technology, end-use, and region. By component, the market is further segmented into hardware, software, and services. Due to the increased demand for hardware including IIoT enabling equipment and devices, robots, 3D printers, the segment is growing significantly. A variety of traditional and smart sensors is an important aspect of the hardware segment, which is not only showing the demand for rapid growth but also increasing research and development activities.

Increasing adaptation of smart manufacturing in various industries such as healthcare, electronics, automotive, aerospace & defense, and oil & gas are some factors to drive the market. Aerospace & defense and automotive are expected to contribute a larger share in market growth. In 2019, the automotive industry dominated the smart manufacturing market due to the growing adaptation of smart manufacturing technologies. By region, Asia Pacific dominated the market and expected to grow at the highest CAGR over the forecast period due to the presence of a large number of smart manufacturers.

The report provides both, qualitative and quantitative analyses of the market, the competitive landscape, and the preferred development strategies of key players which help to formulate competitive market strategies and make informed decisions. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market, and expert opinion obtained from interviews with industry executives and experts from prominent companies.

According to Research Corridor, this study will provide in-depth analysis of segments on the basis of current trends, market dynamics and country level analysis of smart manufacturing industry. This report provides market estimates and forecast for the period 2018-2027, along with respective CAGRs for each segment and regional distribution for the period 2020-2027. In depth analysis of competitive landscape, porter's five forces model, value chain analysis, and pricing strategies are also covered in the report scope.

Historical & Forecast Period

  • 2018 - Historical Year for smart manufacturing Market
  • 2019 - Base Year for smart manufacturing Market
  • 2020-2027 - Forecast Period for smart manufacturing Market

The smart manufacturing market report offers a primary overview of the smart manufacturing industry covering different product definitions, classifications, and participants in the industry chain structure. The quantitative and qualitative analysis is provided for the global market considering competitive landscape, development trends, and key critical success factors (CSFs) prevailing in the smart manufacturing industry.

Smart Manufacturing Market Segmentation:

By Component:

  • Hardware
  • Software
  • Services

By Technology:

  • Machine Execution Systems
  • Programmable Logic Controller
  • Enterprise Resource Planning
  • SCADA
  • Discrete Control Systems
  • Human Machine Interface
  • Machine Vision
  • 3D Printing
  • Product Lifecycle Management
  • Plant Asset Management

By End-Use:

  • Automotive
  • Aerospace & Defense
  • Chemicals & Materials
  • Healthcare
  • Industrial Equipment
  • Electronics
  • Food & Agriculture
  • Oil & Gas
  • Others

List of Key Companies:

  • Emerson
  • Honeywell
  • Rockwell
  • ABB
  • Schneider
  • IBM
  • General Electric
  • Siemens

Smart Manufacturing Market Report Scope

This report provides an investigative analysis of the smart manufacturing market encapsulated in detailed sections such as

  • Research Methodology
  • Research Scope
  • Executive Market Summary: Industry Snapshot
  • Industry Outlook
  • Critical Success Factors (CSFs) for the Market
  • Market Dynamics
  • Key Opportunities
  • Market Porters Five Force Analysis
  • Market Value Chain/Ecosystem Analysis
  • Market Attractive Investment Proposition
  • Market PESTEL Analysis
  • Market Positioning of Key Vendors
  • Market Segmentation Outlook
  • Regional Outlook
  • Company Profiles of Key Vendors

Geographic Coverage

Geographically, the smart manufacturing Market report comprises dedicated sections centering on the regional market revenue and trends. The smart manufacturing market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific and Rest of the World (RoW). The RoW segment consists Latin America and the Middle East & Africa. The smart manufacturing market has been extensively analyzed on the basis of various regional factors such as demographics, gross domestic product (GDP), inflation rate, acceptance and others. smart manufacturing Market estimates have also been provided for the historical years 2017 & 2018 along with forecast for the period from 2018 - 2027.

  • North America smart manufacturing Market Revenue and Forecast
  • Europe smart manufacturing Market Revenue and Forecast
  • Asia Pacific smart manufacturing Market Revenue and Forecast
  • Latin America smart manufacturing Market Revenue and Forecast
  • Middle East and Africa smart manufacturing Market Revenue and Forecast

Key Questions Answered by Smart Manufacturing Market Report

  • Market size and forecast of the smart manufacturing market for the period from 2018 to 2027
  • Compounded annual growth rate (CAGR%) for individual segments in various regional markets through 2025
  • Value chain analysis
  • Market share analysis combined with competitive landscape of key players
  • Profiles of key market players covering overall business operations, geographic presence, product portfolio, financial status and news coverage

(Reports will be updated due to COVID-19 impacts on the market)

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