Smart Manufacturing Market Is Expected To Reach $ 589.98 Billion By 2028

 San Francisco, 1 June 2021: The Report Smart Manufacturing Market Size, Share & Trends Analysis Report By Component, By Technology (Product Lifecycle Management, 3D Printing, Enterprise Resource Planning, Discrete Control Systems), By End Use, And Segment Forecasts, 2021 - 2028

The global smart manufacturing market size is estimated to reach USD 589.98 billion by 2028, registering a CAGR of 12.4% from 2021 to 2028, according to a new study by Grand View Research, Inc. Increasing adoption of technologies, including big data analytics, smart robots, and industrial IoT, in manufacturing facilities is a key factor propelling the market growth. Additionally, small and medium enterprises are increasingly integrating plant asset management, Manufacturing Execution Systems (MES), and 3D printing solutions, accelerating the market growth.

Governments across the globe are increasingly investing and promoting smart manufacturing initiatives. Both developed and developing economies are aggressively embracing this avenue, contributing to market growth. For instance, under the Made in China 2025 program, the government of China is reportedly investing approximately USD 3 billion. Similarly, the Indian government is promoting smart manufacturing with the SAMARTH - Udyog Bharat 4.0 initiative to transform the manufacturing sector.

Automotive and aerospace and defense are the leading revenue-generating end-use verticals while oil and gas and industrial equipment are anticipated to scale up the digitization efforts rapidly. The advent of 3D printing, modeling, and simulation in the manufacturing process has significantly propelled the market growth. Furthermore, the market participants are entering into strategic partnerships to offer improved end products. For instance, General Motors (GM), an automobile manufacturer, partnered with Autodesk Inc. to manufacture lighter vehicle parts using 3D printing technology.

Access Research Report of Smart Manufacturing Market @ https://www.grandviewresearch.com/industry-analysis/smart-manufacturing-market

Smart Manufacturing Market Report Highlights

  • A shift from operational technologies to effective artificial intelligence and data analytics is expected to emerge as a major market trend
  • Internet of things has gained popularity in the global manufacturing sector owing to benefits such as reduced operational costs and increased efficiency and productivity
  • The integration of hardware and software is expected to be the prime focus of solution providers. Unified design architecture and cyber-physical systems are expected to witness high demand in the market
  • Developed economies are supporting digitalization to reintroduce industrialization into their turf while developing countries are making investments in smart technologies to comply with international manufacturing standards and trends

List of Key Players of the Smart Manufacturing Market

  • Siemens
  • General Electric
  • Rockwell Automation, Inc.
  • Schneider Electric
  • Honeywell International Inc.
  • Emerson Electric
  • Fanuc

Access Press Release of Smart Manufacturing Market @ https://www.grandviewresearch.com/press-release/global-smart-manufacturing-market

 

Comments

Post a Comment

Popular posts from this blog

Asia Pacific PoC Diagnostics Market Growth Opportunities, Industry Analysis And Forecast: Grand View Research Inc.

Image
San Francisco, 18 March 2020 :  The Report   Asia Pacific PoC Diagnostics Market  Analysis And Segment Forecasts To 2020 The Asia Pacific point of care (PoC) diagnostics market is expected to reach USD 5,427.1 million by 2020, according to a new study by Grand View Research, Inc. Growing base of geriatric population and the ability to render immediate results and improve patient care coupled with rising market penetration of PACS (picture archiving and communication systems) and EMR (electronic medical records) are expected to drive demand over the next six years. Skilled staff shortages, especially pertaining to the field of diagnostics are also expected to accelerate the market penetration rates of PoC products, by expediting lab automation processes. Rising demand for home healthcare and other healthcare establishments catering to the elderly population and initiatives undertaken by governments to shorten hospital stays by establishing out-patient care models are also expect
Read more

Food Additives Market Size & Share Hit USD 55.53 Billion By 2022 : Grand View Research Inc.

Image
San Francisco, 17 October 2019:   The Report   Global Food Additives Market   Analysis By Product Flavors & Enhancers (Natural, Artificial), Sweeteners (High Intensity, HFCS), Enzymes, Emulsifiers (Mono, Di-Glycerides, Lecithin, Stearoyl Lactylates, Sorbitan Esters), Shelf-life Stabilizers, Fat Replacers (Protein, Starch)] And Segment Forecast To 2022 Global food additives market is expected to reach USD 55.53 billion by 2022, according to a new study by Grand View Research, Inc. Food & beverage industry growth in BRICS and Middle East on account of rising domestic consumption and increasing foreign direct investments is expected to augment market growth. Asia Pacific is expected to be one of the most promising markets on account of growing domestic consumption in China and India owing to population growth and new product launches by food & beverage manufacturers. Availability of raw materials such as sorbitol and lactic acid in China, Indonesia, and Malaysia in light o
Read more

Integration Platform as a Service Market Valuation Is Expected To Exceed USD 2.70 Billion By 2025: Grand View Research Inc.

Image
San Francisco, 18 March 2020 :  The Report   Integration Platform as a Service (IPaaS) Market  Analysis By Integration Type (API, Process, Application, Data), By Services, By Deployment (Cloud, On-Premise, Hybrid) By Region, And Segment Forecasts, 2018 – 2025 The global integration platform as a service (IPaaS) market is expected to reach USD 2.705.8 million by 2025, according to a new report by Grand View Research, Inc. Rising need of advanced systems to improve the process of deploying, developing, and managing enterprise applications globally has been a major factor driving market growth. In addition, recent developments in big data, cloud computing, and Internet of Things (IoT) within organizations’ processes also paved the way for greater development of IPaaS solutions. Integration Platform as a Service is an emerging technology where in the applications, process, data, and application programs are integrated. The integration enables enterprises to reduce the complexity
Read more