The global Smart Manufacturing Market will be worth USD484.97 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the increasing adoption of digital technologies across all major industries, including food &beverage, petrochemicals, automotive, aerospace & defense, and energy &power. The rising need to eliminate human & machine errors, enhanced asset efficiency and production quality has increased the adoption of digitized supply chain management solutions.
The research takes a closer look at prominent factors driving the growth rate of the prominent product categories across major geography. Furthermore, the study covers a lot of the sales, gross margin, consumption capacity, spending power and customer preference across various countries. The report offers clear indications how the Smart Manufacturing market is expected to witness numerous exciting opportunities in the years to come. Critical aspects including the growing requirement, demand and supply status, customer preference, distribution channels and others are presented through resources such as charts, tables, and infographics.
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Key Highlights From The Report
In May 2019, ABB and the Vietnamese Ministry of Science and Technology (Most) exchanged a Letter of Intent (LOI) in Stockholm, Sweden. The LOI was exchanged to accelerate the realization of smart manufacturing IN Vietnam.
The Manufacturing Execution System segment held the largest market share of 28.7% in 2019. Increasing utilization of the advanced and cost-effective technologies, such as the cloud-based Manufacturing Execution System, in the manufacturing process by the small and medium-sized enterprises(SMEs) is expected to drive the segment's growth.
Industrial Robotics is forecasted to grow with the fastest CAGR of 13.6% over the forecast period. Implementation of artificial intelligence and the increasing investments for automation across all major industries in the developing countries is driving the growth of the segment.
The automotive industry segment held the largest market share of Smart Manufacturing in 2019. Increasing implementation of advanced technologies such as Industrial 3D printing in order to reduce the overall manufacturing cost is expected to drive the growth of the market.
The Asia Pacific region is expected to be the fastest-growing region over the forecast period due to the rising investments of the manufacturing companies on the implementation of advanced technologies in the manufacturing process to increase operational efficiency and production.
Key participants include IBM, ABB, General Electric, Siemens, Rockwell Automation, Honeywell International, Schneider Electric, Mitsubishi Electric, Emerson Electric, and Cisco, among others.
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Information Technology Outlook (Revenue, USD Billion; 2017-2027)
Manufacturing Execution System
Human-Machine Interface
Warehouse Management System
Plant Asset Management
Industrial Communication
Enterprise Manufacturing Intelligence
Product lifecycle Management
Others
Enabling Technology Outlook (Revenue, USD Billion; 2017-2027)
Industrial Robotics
Machine Vision
Industrial 3D printing
Industrial Internet of Things (IIoT)
Artificial Intelligence (AI) in manufacturing
Blockchain in manufacturing
Augmented Reality and Virtual Reality in manufacturing
Others
Industry Outlook (Revenue, USD Billion; 2017-2027)
Energy & Power
Aerospace & Defense
Pharmaceuticals
Automotive
Food & Beverage
Semiconductor & electronics
Oil & Gas
Chemicals
Others
Regional Outlook (Revenue, USD Billion; 2017-2027)
North America
Europe
Asia Pacific
Latin America
MEA
Table of Content
Chapter 1.Methodology & Sources
1.1. Smart Manufacturing Market Definition
1.2. Smart Manufacturing Market Research Scope
1.3. Smart Manufacturing Market Methodology
1.4. Smart Manufacturing Market Research Sources
1.4.1.Primary
1.4.2.Secondary
1.4.3.Paid Sources
1.5. Smart Manufacturing Market Estimation Technique
Chapter 2.Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Smart Manufacturing Market Segmentation& Impact Analysis
Continued…
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