The IMARC Group latest report titled” Smart Manufacturing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on smart manufacturing market growth. The report also includes competitor and regional analysis, and contemporary advancements in the global market. 

The global smart manufacturing market size reached US$ 324.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 792.9 Billion by 2032, exhibiting a growth rate (CAGR) of 10.1% during 2024-2032.

Smart Manufacturing Market Overview:

Smart manufacturing, often called Industry 4.0, represents a transformative paradigm in industrial production. It integrates cutting-edge technologies like IoT (Internet of Things), AI (Artificial Intelligence), automation, and data analytics to optimize manufacturing processes. It enables real-time monitoring, predictive maintenance, and data-driven decision-making by interconnecting machinery and systems. This not only enhances operational efficiency but also reduces downtime and waste. Additionally, it fosters customization, allowing for rapidly adapting production lines to changing market demands. It paves the way for sustainable practices by minimizing resource consumption.

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Smart Manufacturing Market Trends:

The global market is majorly driven by the increasing innovations in IoT, AI, and automation technologies. In line with this, the efficiency gains and reduced operational costs attract manufacturers to adopt smart manufacturing solutions. Furthermore, the companies seek an edge in the market by improving quality, speed, and agility through smart manufacturing. Besides this, smart manufacturing enhances supply chain visibility and coordination, positively influencing demand.

Moreover, eco-friendly practices and resource optimization align with sustainability objectives, boosting smart manufacturing adoption. Besides, the consumer's preferences for personalized products drive the need for flexible and agile manufacturing. Adherence to industry standards and regulations encourages smart manufacturing adoption. Additionally, the expanding markets and complex supply chains necessitate advanced manufacturing solutions for global operations. The COVID-19 pandemic accelerated the adoption of smart manufacturing for remote monitoring and adaptability in times of crisis.

Smart Manufacturing Market Segmentation:

Competitive Landscape:

  • 3D Systems Inc.
  • 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

Breakup by Component:

  • Hardware
  • Software
  • Services

Breakup 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

Breakup by End Use:

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

Breakup by Region:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

  • Market Performance
  • Market Outlook
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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