Smart Manufacturing Market Expected to Rise at a CAGR of 12.3% during 2021-2026
November 26, 2021
IMARC Group expects the global smart manufacturing market to grow at a CAGR of 12.3% during the forecast period (2021-2026).
SHERIDAN, WYOMING, UNITED STATES, November 25, 2021 /EINPresswire.com/ -- According to IMARC Group latest report titled” Smart Manufacturing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market exhibited strong growth during 2015-2020. The Global Smart Manufacturing Market to grow at a CAGR of around 12.3% during the forecast period (2021-2026). Smart manufacturing (SM) refers to a technology-driven approach that uses big data analytics to refine complicated processes and manage the supply chain. It utilizes internet-connected machinery to monitor the processes and identify various automation opportunities to enhance manufacturing performance. SM also allows the enterprises to shift from reactionary to predictive practices, which aims to improve the process efficiency.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
The global smart manufacturing market is primarily driven by the increasing prevalence of Industry 4.0 due to the rapid digitization and growing adoption of industrial automation. The integration of innovative and efficient manufacturing processes to increase productivity and improve visualization is also propelling the market growth. Besides this, governments across the globe are taking initiatives to support industrial automation and increasingly invest in SM solutions. Moreover, such as the growing demand for software systems that reduce time and cost, the growing industrial growth and the increasing adoption of artificial intelligence (AI) technology, are some of the other factors providing a positive impact on the market growth in the near future.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
• 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
Smart Manufacturing Market Segmentation:
Our report has categorized the market based on region, component, technology and end use.
Breakup by Component:
Breakup by Technology:
• Machine Execution Systems
• Programmable Logic Controller
• Enterprise Resource Planning
• Discrete Control Systems
• Human Machine Interface
• Machine Vision
• 3D Printing
• Product Lifecycle Management
• Plant Asset Management
Breakup by End Use:
• Aerospace and Defense
• Chemicals and Materials
• Industrial Equipment
• Food and Agriculture
• Oil and Gas
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 (2015-2020)
• Market Outlook (2021-2026)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
We are updating our reports, If you want latest primary and secondary data (2021-2026) with Cost Module, Business Strategy, Competitive landscape, etc. Click request free sample report, the report will be delivered to you in PDF format via email within 24 to 48 hours after the payment confirmation.
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