Smart Manufacturing Market size worth $ 589.98 Billion, Globally, by 2028 at 12.4% CAGR: Verified Market Research®

- The major factors expected to drive the Smart Manufacturing Market include increasing adoption of Industry 4.0, growing use of automation, a rise in need to maintain regulatory compliance, and increased demand for software systems that reduce time and cost.

JERSEY CITY, N.J., Dec. 14, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Smart Manufacturing Market" By Component (Hardware, Software, Services), By Technology (Machine Execution Systems, Programmable Logic Controller, SCADA), By End-use (Automotive, Aerospace & Defense, Chemicals & Materials), and By Geography. According to Verified Market Research, the Global Smart Manufacturing Market size was valued at USD 259.63 Billion in 2020 and is projected to reach USD 589.98 Billion by 2028, growing at a CAGR of 12.4 % from 2021 to 2028.

Download PDF Brochure: https://www.verifiedmarketresearch.com/download-sample/?rid=49206

Browse in-depth TOC on "Smart Manufacturing Market"

202 - Pages
126 – Tables
37 – Figures

Global Smart Manufacturing Market Overview

The growing adoption of Industry 4.0, is expected to boost the demand for smart manufacturing. Industry 4.0 is the digital transformation of manufacturing/production and related industries, as well as value creation processes. Industry 4.0 is changing the way companies manufacture, improve, and distribute their goods. Manufacturers are integrating new technologies into their production facilities and operations, such as the Internet of Things (IoT), cloud computing and analytics, and AI and machine learning.

Increased automation, predictive maintenance, self-optimization of process improvements, and, most importantly, a new level of efficiencies and responsiveness to customers not previously possible are all benefits of digital technologies. Developing smart factories provides an incredible opportunity for the manufacturing industry to enter the fourth industrial revolution. Analyzing large amounts of big data collected from factory sensors ensures real-time visibility of manufacturing assets and can provide tools for performing predictive maintenance to reduce downtime. Smart factories that use high-tech IoT devices have higher productivity and better quality. Using AI-powered visual insights to replace manual inspection business models reduces manufacturing errors and saves money and time.

Quality control personnel can set up a smartphone connected to the cloud with minimal investment to monitor manufacturing processes from virtually anywhere. Manufacturers can detect errors sooner rather than later, when repair work is more expensive, by using machine learning algorithms. Industry 4.0 can be applied in all types of industries, discrete and process manufacturing, as well as oil and gas, mining, and other industrial segments. Apart from this, with ever-increasing stringent government regulations coming up globally, smart manufacturing will enable manufacturers to better comply with these regulations.

Key Developments

• In July 2020, ABB opened a new robotics facility to support the digital transformation of manufacturing in India. The facility will enable ABB India to deliver robotic applications and digital solutions to a variety of Indian industries, including automotive, food and beverage, electronics, and other emerging sectors.

Key Players

The major players in the market are ABB, Siemens, General Electric, Rockwell Automation, Inc., Schneider Electric, Honeywell International Inc., Emerson Electric, Fanuc, and others..

Verified Market Research has segmented the Global Smart Manufacturing Market On the basis of Component, Technology, End-use, and Geography.

• Smart Manufacturing Market, By Component
• Hardware
• Software
• Services
• Smart Manufacturing Market, 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
• Smart Manufacturing Market, By End-use
• Automotive
• Aerospace & Defense
• Chemicals & Materials
• Healthcare
• Industrial Equipment
• Electronics
• Food & Agriculture
• Oil & Gas
• Others
• Smart Manufacturing Market by Geography
• North America
• U.S
• Canada
• Mexico
• Europe
• Germany
• France
• U.K
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
• ROW
• Middle East & Africa
• Latin America

Browse Related Reports:

IoT In Manufacturing Market By Component (Solution, Platform), By Solution (Data Management, Network Management), By Software (Monitoring Software, Network Management), By Service (Professional Services, System Integration And Deployment Services), By Connectivity (Satellite Network, Cellular Network), By Application (Predictive Maintenance, Business Process Optimization), By End Use Vertical (Energy And Utilities, Automotive), By Geography, Forecast, 2021-2028

Electronic Contract Manufacturing And Design Services Market By Service (Electronic Design & Engineering, Electronics Assembly, Electronic Manufacturing), By End-Use (Healthcare, IT & Telecom, Automotive, Aerospace & Defense, Consumer Electronics), By Geography, Forecast, 2021-2028

Manufacturing Execution System Market By Offering (Software, Services), By Deployment Type (On-Premises Deployment Type, On-Demand Deployment Type, Hybrid), By Process Industry (Food & Beverages, Oil & Gas, Chemicals, Pulp & Paper), By Geography, Forecast, 2021-2028

Industrial Control And Factory Automation Market By Component (Sensors, Industrial Robots, Machine Vision, Control valves, Industrial PC, Control devices), By Solution (Distributed Control System (DCS), Programmable Logic Controller (PLC), Manufacturing Execution System (MES), Product Life Cycle Management (PLM), Plant Asset Management (PAM)), By Industry(Process Industry and Discrete Industry), By Geography, Forecast, 2021-2028

Top 10 Semiconductor Manufacturers transforming with the advanced technologies

Visualize Smart Manufacturing Market using Verified Market Intelligence:-:

Verified Market Intelligence is our BI Enabled Platform for narrative storytelling of this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue impacting decisions for a brilliant future.

VMI provides a holistic overview and global competitive landscape with respect to Region, Country, and Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.

About Us

Verified Market Research is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research provides advanced analytical research solutions while offering information enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals and critical revenue decisions.

Our 250 Analysts and SME's offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise and years of collective experience to produce informative and accurate research.

We study 14+ categories from Semiconductor & Electronics, Chemicals, Advanced Materials, Aerospace & Defense, Energy & Power, Healthcare, Pharmaceuticals, Automotive & Transportation, Information & Communication Technology, Software & Services, Information Security, Mining, Minerals & Metals, Building & construction, Agriculture industry and Medical Devices from over 100 countries.

Contact Us

Mr. Edwyne Fernandes
Verified Market Research®
US: +1 (650)-781-4080
UK: +44 (753)-715-0008
APAC: +61 (488)-85-9400
US Toll Free: +1 (800)-782-1768
Email: sales@verifiedmarketresearch.com
Web: https://www.verifiedmarketresearch.com/
Follow Us: LinkedIn | Twitter

Logo:  https://mma.prnewswire.com/media/1315349/Verified_Market_Research_Logo.jpg