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Smart Manufacturing Market Will Reach US$ 489.66 Billion by 2027

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[150+ Pages Report] The smart manufacturing market revenue share is set to grow at a yearly rate of 12% during 2021-2027, while its valuation is Projected to jump from $ 200 Billion in 2020 to $489.66 Billion in 2027.

The smart manufacturing market report covers a detailed analysis for the historic period 2017-2020, considering 2021 as the base year and forecast (growth) for 2021-2027.

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This research report evaluates the smart manufacturing market on a global and regional level. It offers a thorough analysis of the market revenue status, growth, future trends, and forecast of the global smart manufacturing market for the period from 2017 to 2027.

Growth Factors

Evolution of Internet of Things (IoT) and various digital technologies that include artificial intelligence and machine learning has upended the manufacturing sector in the recent past. Integration of these technologies at different levels of industry supply chain is likely to boost the demand for smart manufacturing solutions over the upcoming years. Integration of different smart manufacturing technologies enhance the productivity along with reduces the manufacturing time that overall increases the productivity of an industry.

Market Report Scope

Report Highlights Details
Market Size USD 489.66 Billion by 2027
Growth Rate CAGR of 12% From 2021 to 2027
Base Year 2020
Historic data 2017 to 2020
Forecast Period 2021 to 2027
Segments Covered Technology, End Use, Region
Regional Scope North America, APAC, Europe, Latin America, MEAN, Rest of the World

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This report enables readers to make important decisions with regard to their business, with the help of a wealth of Information enclosed in the study. The report also provides the compound annual growth rate (CAGR) of the global smart manufacturing market for the forecast period of 2021–2027. This data can help readers interpret quantitative growth aspects of the global market during the forecast period. It presents a wealth of information on key market dynamics, including drivers, market trends, and challenges, as well as the structure of the global market across the globe.

The report analyzes the historical and present-day scenario of the global smart manufacturing market to accurately gauge its growth potential. The study presents detailed information about important growth factors, restraints, and key trends that are creating the landscape for growth of the global market in order to identify opportunities for stakeholders.

Key Highlights

  • The Asia Pacific holds leading market position in 2019 and likely continue the same trend over the upcoming years owing to significant growth in the industrial sector
  • North America and Europe foresee to be the major revenue contributor to the market growth due to technological advancement and notable presence of technology service providers in the regions
  • Machine Execution System (MES) holds the leading market position in terms of revenue on account of rising demand for streamlined workflow along with reduced lead time
  • 3D printing segment projected to witness the fastest growth rate over the analysis period because of its escalating adoption in agile product iterations and design process
  • The aerospace & defense and automotive segments are estimated to be the prominent contributors towards the industry growth
  • The automotive segment led the market in 2019 and further anticipated to grow impressively over the forecast period due to introduction of autonomous vehicles
  • The Asia Pacific emerged as a global leader in the smart manufacturing market because of the presence of numerous players operating in the market.
  • North America and Europe are the other most prominent revenue contributors in the global market because of technological advancement coupled with remarkable presence of the Information Technology (IT) solutions providers in the region.

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Competition Landscape

In the final section of the research report, Precedence Research provided the global smart manufacturing market structure and a detailed competition landscape to provide a dashboard view of key players operating in the global market along with their business strategies to report audiences. This section is primarily designed to provide clients with an objective and detailed comparative assessment of the key providers specific to a market segment in the value chain of the market.

Some of the major players in the smart manufacturing market include:

  • Emerson Electric Co.
  • ABB Ltd.
  • Fanuc Corporation
  • Honeywell International, Inc.
  • General Electric Co.
  • Mitsubishi Electric Corporation
  • Rockwell Automation, Inc.
  • Robert Bosch GmbH
  • Schneider Electric SE
  • Yokogawa Electric Corporation
  • Siemens AG

Market Segmentation

By Technology

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

By Component

  • Software
  • Hardware
  • Services

By End-Use

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

Regional Segmentation

– North America (U.S. and Canada)

 – Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)

 – Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)

 – Latin America (Brazil and Rest of Latin America)

– Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

Research Methodology

  • Market estimate for 2020
  • Average selling price (ASP) per region for specific product type
  • Filtrations and assortment of gathered data, to estimate the base year (2021) market size for the country
  • Gathering data from company websites, annual reports, white papers, financial reports, broker reports, investor presentations, and SEC filings
  • National government documents, statistical databases
  • News articles, press releases, and webcasts specific to companies operating in the market
  • Country wise analysis through internal and external proprietary databases, and relevant patent and regulatory databases
  • Determination of market penetration by country

Most Asked Questions –

What was the market size value of the smart manufacturing in 2020?

What is the expected market size by 2027?

What is the smart manufacturing market growth?

What are the key factors that positively influence market growth?

Who are the prominent players in the smart manufacturing market?

Why Buy this Report?

The purpose of Precedence Research’s smart manufacturing market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach
2.2. Data Sources
2.3. Assumptions& Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Smart Manufacturing Market Variables and Scope

4.1. Introduction
4.2. Market Classification and Scope

Chapter 5. COVID 19 Impact on Smart Manufacturing Market

5.1. Covid-19: Smart Manufacturing Industry Impact
5.2. Smart Manufacturing Business Impact Assessment: Covid-19
5.2.1. Supply Chain Challenges/Disruption
5.2.2. Market Trends and Smart Manufacturing Opportunities in the COVID-19 Landscape
5.3. Strategic Measures against Covid-19
5.3.1. Government Support and Initiative to Combat Covid-19
5.3.2. Proposal for Smart Manufacturing Vendors to deal with Covid-19 Pandemic Scenario

Chapter 6. Smart Manufacturing Market Dynamics Analysis and Trends

6.1. Market Dynamics
6.1.1. Market Drivers
6.1.1.1. Increasing Penetration of Internet of Things (IoT)
6.1.1.2. Rising Demand for Automation
6.1.2. Market Restraints
6.1.2.1. Rising Concern for Security
6.1.3. Market Opportunities
6.1.3.1. Government Support & Initiatives for Digitization in Industrial Sector
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition

Chapter 7. Global Smart Manufacturing Market: Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis
7.1.1.1. Smart Manufacturing Market Revenue by Vendor (2015-2020)
7.1.1.2. Smart Manufacturing Market Revenue Market Share by Vendor (2015-2020)
7.1.2. Key Organic/Inorganic Strategies Adopted by Players
7.1.2.1. Product Portfolio Expansion, Regional Expansion, Product Innovation
7.1.2.2. Merger and Acquisition, Collaboration and Partnerships
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers

Chapter 8. Global Smart Manufacturing Market, By Technology

8.1. Smart Manufacturing Market, by Technology, 2016-2027
8.1.1. Programmable Logic Controller
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Machine Execution Systems
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.3. Enterprise Resource Planning
8.1.3.1. Market Revenue and Forecast (2016-2027)
8.1.4. Discrete Control Systems
8.1.4.1. Market Revenue and Forecast (2016-2027)
8.1.5. SCADA
8.1.5.1. Market Revenue and Forecast (2016-2027)
8.1.6. Human Machine Interface
8.1.6.1. Market Revenue and Forecast (2016-2027)
8.1.7. 3D Printing
8.1.7.1. Market Revenue and Forecast (2016-2027)
8.1.8. Machine Vision
8.1.8.1. Market Revenue and Forecast (2016-2027)
8.1.9. Plant Asset Management
8.1.9.1. Market Revenue and Forecast (2016-2027)
8.1.10. Product Lifecycle Management
8.1.10.1. Market Revenue and Forecast (2016-2027)

Chapter 9. Global Smart Manufacturing Market, By Component

9.1. Smart Manufacturing Market, by Component, 2016-2027
9.1.1. Software
9.1.1.1. Market Revenue and Forecast (2016-2027)
9.1.2. Hardware
9.1.2.1. Market Revenue and Forecast (2016-2027)
9.1.3. Services
9.1.3.1. Market Revenue and Forecast (2016-2027)

Chapter 10. Global Smart Manufacturing Market, By End-use

10.1. Smart Manufacturing Market, by End-use, 2016-2027
10.1.1. Aerospace & Defense
10.1.1.1. Market Revenue and Forecast (2016-2027)
10.1.2. Automotive
10.1.2.1. Market Revenue and Forecast (2016-2027)
10.1.3. Chemicals & Materials
10.1.3.1. Market Revenue and Forecast (2016-2027)
10.1.4. Industrial Equipment
10.1.4.1. Market Revenue and Forecast (2016-2027)
10.1.5. Healthcare
10.1.5.1. Market Revenue and Forecast (2016-2027)
10.1.6. Electronics
10.1.6.1. Market Revenue and Forecast (2016-2027)
10.1.7. Oil & Gas
10.1.7.1. Market Revenue and Forecast (2016-2027)
10.1.8. Food & Agriculture
10.1.8.1. Market Revenue and Forecast (2016-2027)
10.1.9. Others
10.1.9.1. Market Revenue and Forecast (2016-2027)

Chapter 11. Global Smart Manufacturing Market, Regional Estimates and Trend Forecast

11.1. North America
11.1.1. Market Revenue Forecast by Technology (2016-2027)
11.1.2. Market Revenue Forecast by Component (2016-2027)
11.1.3. Market Revenue Forecast by End-use (2016-2027)
11.1.4. U.S
11.1.4.1. Market Revenue Forecast (2016-2027)
11.1.5. Canada
11.1.5.1. Market Revenue Forecast (2016-2027)
11.2. Europe
11.2.1. Market Revenue Forecast by Technology (2016-2027)
11.2.2. Market Revenue Forecast by Component (2016-2027)
11.2.3. Market Revenue Forecast by End-use (2016-2027)
11.2.4. UK
11.2.4.1. Market Revenue Forecast (2016-2027)
11.2.5. Germany
11.2.5.1. Market Revenue Forecast (2016-2027)
11.2.6. France
11.2.6.1. Market Revenue Forecast (2016-2027)
11.2.7. Rest of EU
11.2.7.1. Market Revenue Forecast (2016-2027)
11.3. Asia Pacific (APAC)
11.3.1. Market Revenue Forecast by Technology (2016-2027)
11.3.2. Market Revenue Forecast by Component (2016-2027)
11.3.3. Market Revenue Forecast by End-use (2016-2027)
11.3.4. China
11.3.4.1. Market Revenue Forecast (2016-2027)
11.3.5. India
11.3.5.1. Market Revenue Forecast (2016-2027)
11.3.6. Japan
11.3.6.1. Market Revenue Forecast (2016-2027)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue Forecast (2016-2027)
11.4. LATAM
11.4.1. Market Revenue Forecast by Technology (2016-2027)
11.4.2. Market Revenue Forecast by Component (2016-2027)
11.4.3. Market Revenue Forecast by End-use (2016-2027)
11.4.4. Brazil
11.4.4.1. Market Revenue Forecast (2016-2027)
11.4.5. Rest of LATAM
11.4.5.1. Market Revenue Forecast (2016-2027)
11.5. Middle East and Africa (MEA)
11.5.1. Market Revenue Forecast by Technology (2016-2027)
11.5.2. Market Revenue Forecast by Component (2016-2027)
11.5.3. Market Revenue Forecast by End-use (2016-2027)
11.5.4. GCC
11.5.4.1. Market Revenue Forecast (2016-2027)
11.5.5. North Africa
11.5.5.1. Market Revenue Forecast (2016-2027)
11.5.6. South Africa
11.5.6.1. Market Revenue Forecast (2016-2027)
11.5.7. Rest of MEA
11.5.7.1. Market Revenue Forecast (2016-2027)

Chapter 12. Company Profiles

12.1. Emerson Electric Co.
12.1.1. Company Overview, Business Information, Geographical Reach
12.1.2. Product Portfolio Analysis
12.1.2.1. Product Details, Specification, Application
12.1.3. Revenue, Price and Gross Margin (2015-2020)
12.1.4. Recent Developments and Strategies
12.2. ABB Ltd.
12.2.1. Company Overview, Business Information, Geographical Reach
12.2.2. Product Portfolio Analysis
12.2.2.1. Product Details, Specification, Application
12.2.3. Revenue, Price and Gross Margin (2015-2020)
12.2.4. Recent Developments and Strategies
12.3. Fanuc Corporation
12.3.1. Company Overview, Business Information, Geographical Reach
12.3.2. Product Portfolio Analysis
12.3.2.1. Product Details, Specification, Application
12.3.3. Revenue, Price and Gross Margin (2015-2020)
12.3.4. Recent Developments and Strategies
12.4. Honeywell International, Inc.
12.4.1. Company Overview, Business Information, Geographical Reach
12.4.2. Product Portfolio Analysis
12.4.2.1. Product Details, Specification, Application
12.4.3. Revenue, Price and Gross Margin (2015-2020)
12.4.4. Recent Developments and Strategies
12.5. General Electric Co.
12.5.1. Company Overview, Business Information, Geographical Reach
12.5.2. Product Portfolio Analysis
12.5.2.1. Product Details, Specification, Application
12.5.3. Revenue, Price and Gross Margin (2015-2020)
12.5.4. Recent Developments and Strategies
12.6. Mitsubishi Electric Corporation
12.6.1. Company Overview, Business Information, Geographical Reach
12.6.2. Product Portfolio Analysis
12.6.2.1. Product Details, Specification, Application
12.6.3. Revenue, Price and Gross Margin (2015-2020)
12.6.4. Recent Developments and Strategies
12.7. Rockwell Automation, Inc.
12.7.1. Company Overview, Business Information, Geographical Reach
12.7.2. Product Portfolio Analysis
12.7.2.1. Product Details, Specification, Application
12.7.3. Revenue, Price and Gross Margin (2015-2020)
12.7.4. Recent Developments and Strategies
12.8. Robert Bosch GmbH
12.8.1. Company Overview, Business Information, Geographical Reach
12.8.2. Product Portfolio Analysis
12.8.2.1. Product Details, Specification, Application
12.8.3. Revenue, Price and Gross Margin (2015-2020)
12.8.4. Recent Developments and Strategies
12.9. Schneider Electric SE
12.9.1. Company Overview, Business Information, Geographical Reach
12.9.2. Product Portfolio Analysis
12.9.2.1. Product Details, Specification, Application
12.9.3. Revenue, Price and Gross Margin (2015-2020)
12.9.4. Recent Developments and Strategies
12.10. Yokogawa Electric Corporation
12.10.1. Company Overview, Business Information, Geographical Reach
12.10.2. Product Portfolio Analysis
12.10.2.1. Product Details, Specification, Application
12.10.3. Revenue, Price and Gross Margin (2015-2020)
12.10.4. Recent Developments and Strategies
12.11. Siemens AG
12.11.1. Company Overview, Business Information, Geographical Reach
12.11.2. Product Portfolio Analysis
12.11.2.1. Product Details, Specification, Application
12.11.3. Revenue, Price and Gross Margin (2015-2020)
12.11.4. Recent Developments and Strategies

Chapter 13. Appendix

13.1. About Us
13.2. Glossary of Terms

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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About Us

Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.

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Precedence Research

Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings.

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