Smart Manufacturing Market, By Technology (Programmable Logic Controller (PLC), Supervisory Controller and Data Acquisition (SCADA), Enterprise Resource and Planning (ERP), Distributed Control System (DCS), Human Machine Interface (HMI), Product Lifecycle Management (PLM), Manufacturing Execution System (MES), and Other Technologies), By Components (Communication Segment, Control Device, Machine Vision Systems, Robotics, Sensor, and Other Components), By End-use Industry (Automotive, Semiconductors, Mining, Oil & Gas, Chemicals & Petrochemicals, Pharmaceuticals, Aerospace & Defense, Food & Beverages, Other End-user Industries), And By Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa)- Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030
Smart manufacturing is a process that uses advanced technology and data analytics to enhance the operational efficiency of manufacturing units. Its benefits include reduced downtime, increased productivity, and improved product quality. This technology has been applied in a variety of industries, including automotive, pharmaceuticals, and electronics.
IoT and cloud connectivity are important factors in achieving a smart manufacturing strategy. These technologies allow machines to communicate with each other and send alerts when problems occur. They also increase the quality of goods produced. Some devices may even be able to independently make decisions based on their own sensors and AI.
Market Dynamics:
As the demand for intelligent automation increases, the global smart manufacturing market is expected to grow rapidly. Several major players are focusing on expanding their customer base in the global market. They invest in research and development to develop advanced products. This in turn will boost the market growth.
However, rising costs, transportation capacity constraints, and inadequate supply chain scalability are some of the factors that will limit the market's growth in the coming years.
In July 2021, Rockwell Automation announced the acquisition of Plex Systems for USD 2.22 billion to expand its industrial cloud software offering. Plex Systems is a pure software-as-a-service, cloud-native smart manufacturing platform operating at scale
In March 2021, FANUC and Rockwell Automation formed a alliance to address the manufacturing skills gap with robotics and automation apprenticeship plans planned to upskill current and future workers for advanced manufacturing, robotics, and automation jobs. The alliance has established new apprenticeship agendas offering people openings to gain credentials, including fundamental robotics (Robot Operator) and automation (PLC Operator).
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