Global Smart Manufacturing Market

Global Smart Manufacturing Market


Global Smart Manufacturing Market By Component (Hardware, Software, Services), By Technology (Machine Execution Systems, Programmable Logic Controller, Enterprise Resource Planning, SCADA, Discrete Control Systems, Human Machine Interface, Machine Vision, 3D Printing, Product Lifecycle Management, Others), By End-User (Automotive, Aerospace & Defense, Chemicals & Materials, Healthcare, Industrial Equipment, Electronics, Food & Agriculture, Oil & Gas, Others) And By Geography – Covid-19 Impact Analysis, Post Covid Analysis, Opportunities, Trends And Forecast From 2021 to 2034

The global Smart Manufacturing market was valued at $305.6 Billion in 2023 and is anticipated to grow at a CAGR of 14.64% from 2024 to 2034. This growth is attributed to several macro and microeconomic factors such as

Technological Advancements

Technological advancements are a primary driver of the global smart manufacturing market. The integration of technologies like Artificial Intelligence (AI), Internet of Things (IoT), robotics, and cloud computing is revolutionizing manufacturing processes. AI and machine learning enable predictive maintenance, optimize production schedules, and improve quality control. IoT connects devices and systems, allowing for real-time data collection and analysis, leading to better decision-making and increased efficiency. Robotics automate tasks, enhancing productivity and reducing labor costs. Cloud computing provides the necessary infrastructure for data storage, processing, and analysis, enabling scalable and flexible solutions. These technological advancements are driving the demand for smart manufacturing solutions across various industries, as companies seek to improve competitiveness, reduce costs, and enhance product quality.

Further several factors restraining the market growth include

High Implementation Costs

The high implementation costs associated with smart manufacturing technologies pose a significant restraint on market growth. Implementing smart manufacturing solutions requires substantial investments in hardware, software, and infrastructure. This includes the purchase of advanced machinery, sensors, and other equipment, as well as the integration of complex software systems. Additionally, companies need to invest in training their workforce to operate and maintain these new technologies. These high upfront costs can be a major barrier for small and medium-sized enterprises (SMEs), which may have limited budgets and resources. Furthermore, the ongoing maintenance and upgrades of smart manufacturing systems can also incur significant costs, further hindering their adoption.

Leveraging Artificial Intelligence (AI) for Predictive Analytics in Smart Manufacturing and collaborations and alliances in the Smart Manufacturing market are expected to generate higher avenues during the forecast period.

In the wake of the COVID-19 pandemic, supply chain disruptions have led to supply shortages or lower demand in the Smart Manufacturing market. The pandemic has caused a decline in new orders and a corresponding decrease in Technologyion.

This section will analyze how COVID-19 has impacted supply chains, leading to shortages and lower demand for Smart Manufacturing.

In terms of COVID-19 impact, the Smart Manufacturing market report also includes the following data points:

Impact on Smart Manufacturing market size
Operating Weights Trend, Preferences, and Budget Impact
Regulatory Framework/Outdoor Policies
Key Players' Strategy to Tackle Negative Impact/Post-COVID Strategies
Opportunity in the Smart Manufacturing market

Key Insight in the report:

The global Smart Manufacturing market report covers an executive summary, market dynamics, COVID impact & post-COVID scenario, market size and forecast, competitive intelligence, market positioning, and Technologys.

Our report covers extensive competitive intelligence which includes the following data points:

Business Overview
Business Segment Data
Financial Data
Technology Segment Analysis and Specification
Recent Development and Company Strategy Analysis
SWOT Analysis

Smart Manufacturing Market Segmentation:

Component
Hardware
Software
Services
Technology
Machine Execution Systems
Programmable Logic Controller
Enterprise Resource Planning
SCADA
Discrete Control Systems
Human Machine Interface
Machine Vision
3D Printing
Product Lifecycle Management
Other
End-User
Automotive
Aerospace & Defense
Chemicals & Materials
Healthcare
Industrial Equipment
Electronics
Food & Agriculture
Oil & Gas
Others

Region/ Countries Covered:

North America
US
Canada
Mexico
Europe
U.K.
Germany
France
Italy
Spain
BeNeLux
Russia
Rest of Europe
Asia Pacific
China
Japan
Australia
India
South Korea
Thailand
Indonesia
Malaysia
Philippines
Singapore
Rest of Asia Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
UAE
Egypt
South Africa
Rest of Middle East & Africa

Key Players Analyzed in the Report:

ABB
Siemens
General Electric
Rockwell Automation
Schneider Electric
Honeywell International Inc.
Emerson Electric Co.
Fanuc
Yokogawa Electric Corporation
3D Systems Inc.


CHAPTER 1. Executive Summary
CHAPTER 2. Scope of the Study
2.1. Market Definition
2.2. Market Scope & Segmentation
2.2.1. Objective of Report
CHAPTER 3. Evolve BI Methodology
3.1. Data Collection & Validation Approach
3.2. Market Size Estimation and Forecast
CHAPTER 4. Market Insights and Trends
4.1. Value Chain Analysis
4.1.1. Technology Providers
4.1.2. System Integrators
4.1.3. End Users
4.2. Porter’s Five Forces Analysis
4.2.1. Bargaining Power of Buyers
4.2.2. Bargaining Power of Suppliers
4.2.3. Threat of New Entrant
4.2.4. Threat of Substitute
4.2.5. Industry Rivalry
CHAPTER 5. Market Dynamics
5.1. Introduction
5.2. Drivers
5.2.1. Technological Advancements
5.2.2. Sustainability and Efficiency Requirements
5.3. Restraints
5.3.1. High Implementation Costs
5.3.2. Data Security and Privacy Concerns
5.4. Opportunity
5.4.1. Leveraging Artificial Intelligence (AI) for Predictive Analytics in Smart Manufacturing
5.5. Macro-Economic Factor affecting smart manufacturing Market
5.5.1. Economic Growth and Industrial Development
5.5.2. Technological Advancements
5.5.3. Government Policies and Regulations
5.5.4. Supply Chain Disruptions and Globalization
5.5.5. Cost Pressures and Competitive Intensity
5.5.6. Sustainability and Environmental Awareness
5.5.7. Access to Capital and Funding
CHAPTER 6. Global Smart Manufacturing Market, By Component
6.1. Introduction
6.1.1. Hardware
6.1.2. Software
6.1.3. Services
CHAPTER 7. Global Smart Manufacturing Market, By technology
7.1. Introduction
7.1.1. Machine Execution Systems
7.1.2. Programmable Logic Controller
7.1.3. Enterprise Resource Planning
7.1.4. SCADA
7.1.5. Discrete Control Systems
7.1.6. Human Machine Interface
7.1.7. Machine Vision
7.1.8. 3D Printing
7.1.9. Product Lifecycle Management
7.1.10. Others
CHAPTER 8. Global Smart Manufacturing Market, By End Use
8.1. Introduction
8.1.1. Automotive
8.1.2. Aerospace & Defense
8.1.3. Chemicals & Materials
8.1.4. Healthcare
8.1.5. Industrial Equipment
8.1.6. Electronics
8.1.7. Food & Agriculture
8.1.8. Oil & Gas
8.1.9. Others
CHAPTER 9. Global Smart Manufacturing Market, By Region
9.1. Introduction
9.2. North America
9.2.1. North America: Market Size and Forecast, By Country, 2021 – 2034 ($ Billion)
9.2.2. North America: Market Size and Forecast, By Component, 2021 – 2034 ($ Billion)
9.2.3. North America: Market Size and Forecast, By Technology, 2021 – 2034 ($ Billion)
9.2.4. North America: Market Size and Forecast, By End Use, 2021 – 2034 ($ Billion)
9.2.5. US
9.2.5.1. US: Market Size and Forecast, By Component, 2021 – 2034 ($ Billion)
9.2.5.2. US: Market Size and Forecast, By Technology, 2021 – 2034 ($ Billion)
9.2.5.3. US: Market Size and Forecast, By End Use, 2021 – 2034 ($ Billion)
9.2.6. Canada
9.2.6.1. Canada: Market Size and Forecast, By Component, 2021 – 2034 ($ Billion)
9.2.6.2. Canada: Market Size and Forecast, By Technology, 2021 – 2034 ($ Billion)
9.2.6.3. Canada: Market Size and Forecast, By End Use, 2021 – 2034 ($ Billion)
9.2.7. Mexico
9.2.7.1. Mexico: Market Size and Forecast, By Component, 2021 – 2034 ($ Billion)
9.2.7.2. Mexico: Market Size and Forecast, By Technology, 2021 – 2034 ($ Billion)
9.2.7.3. Mexico: Market Size and Forecast, By End Use, 2021 – 2034 ($ Billion)
9.3. Europe
9.3.1. Europe: Market Size and Forecast, By Country, 2021 – 2034 ($ Billion)
9.3.2. Europe: Market Size and Forecast, By Component, 2021 – 2034 ($ Billion)
9.3.3. Europe: Market Size and Forecast, By Technology, 2021 – 2034 ($ Billion)
9.3.4. Europe: Market Size and Forecast, By End Use, 2021 – 2034 ($ Billion)
9.3.5. U.K.
9.3.5.1. U.K.: Market Size and Forecast, By Component, 2021 – 2034 ($ Billion)
9.3.5.2. U.K.: Market Size and Forecast, By Technology, 2021 – 2034 ($ Billion)
9.3.5.3. U.K.: Market Size and Forecast, By End Use, 2021 – 2034 ($ Billion)
9.3.6. Germany
9.3.6.1. Germany: Market Size and Forecast, By Component, 2021 – 2034 ($ Billion)
9.3.6.2. Germany: Market Size and Forecast, By Technology, 2021 – 2034 ($ Billion)
9.3.6.3. Germany: Market Size and Forecast, By End Use, 2021 – 2034 ($ Billion)
9.3.7. France
9.3.7.1. France: Market Size and Forecast, By Component, 2021 – 2034 ($ Billion)
9.3.7.2. France: Market Size and Forecast, By Technology, 2021 – 2034 ($ Billion)
9.3.7.3. France: Market Size and Forecast, By End Use, 2021 – 2034 ($ Billion)
9.3.8. Italy
9.3.8.1. Italy: Market Size and Forecast, By Component, 2021 – 2034 ($ Billion)
9.3.8.2. Italy: Market Size and Forecast, By Technology, 2021 – 2034 ($ Billion)
9.3.8.3. Italy: Market Size and Forecast, By End Use, 2021 – 2034 ($ Billion)
9.3.9. Spain
9.3.9.1. Spain: Market Size and Forecast, By Component, 2021 – 2034 ($ Billion)
9.3.9.2. Spain: Market Size and Forecast, By Technology, 2021 – 2034 ($ Billion)
9.3.9.3. Spain: Market Size and Forecast, By End Use, 2021 – 2034 ($ Billion)
9.3.10. BeNeLux
9.3.10.1. BeNeLux: Market Size and Forecast, By Component, 2021 – 2034 ($ Billion)
9.3.10.2. BeNeLux: Market Size and Forecast, By Technology, 2021 – 2034 ($ Billion)
9.3.10.3. BeNeLux: Market Size and Forecast, By End Use, 2021 – 2034 ($ Billion)
9.3.11. Russia
9.3.11.1. Russia: Market Size and Forecast, By Component, 2021 – 2034 ($ Billion)
9.3.11.2. Russia: Market Size and Forecast, By Technology, 2021 – 2034 ($ Billion)
9.3.11.3. Russia: Market Size and Forecast, By End Use, 2021 – 2034 ($ Billion)
9.3.12. Rest of Europe
9.3.12.1. Rest of Europe: Market Size and Forecast, By Component, 2021 – 2034 ($ Billion)
9.3.12.2. Rest of Europe: Market Size and Forecast, By Technology, 2021 – 2034 ($ Billion)
9.3.12.3. Rest of Europe: Market Size and Forecast, By End Use, 2021 – 2034 ($ Billion)
9.4. Asia Pacific
9.4.1. Asia Pacific: Market Size and Forecast, By Country, 2021 – 2034 ($ Billion)
9.4.2. Asia Pacific: Market Size and Forecast, By Component, 2021 – 2034 ($ Billion)
9.4.3. Asia Pacific: Market Size and Forecast, By Technology, 2021 – 2034 ($ Billion)
9.4.4. Asia Pacific: Market Size and Forecast, By End Use, 2021 – 2034 ($ Billion)
9.4.5. China
9.4.5.1. China: Market Size and Forecast, By Component, 2021 – 2034 ($ Billion)
9.4.5.2. China: Market Size and Forecast, By Technology, 2021 – 2034 ($ Billion)
9.4.5.3. China: Market Size and Forecast, By End Use, 2021 – 2034 ($ Billion)
9.4.6. Japan
9.4.6.1. Japan: Market Size and Forecast, By Component, 2021 – 2034 ($ Billion)
9.4.6.2. Japan: Market Size and Forecast, By Technology, 2021 – 2034 ($ Billion)
9.4.6.3. Japan: Market Size and Forecast, By End Use, 2021 – 2034 ($ Billion)
9.4.7. Australia
9.4.7.1. Australia: Market Size and Forecast, By Component, 2021 – 2034 ($ Billion)
9.4.7.2. Australia: Market Size and Forecast, By Technology, 2021 – 2034 ($ Billion)
9.4.7.3. Australia: Market Size and Forecast, By End Use, 2021 – 2034 ($ Billion)
9.4.8. India
9.4.8.1. India: Market Size and Forecast, By Component, 2021 – 2034 ($ Billion)
9.4.8.2. India: Market Size and Forecast, By Technology, 2021 – 2034 ($ Billion)
9.4.8.3. India: Market Size and Forecast, By End Use, 2021 – 2034 ($ Billion)
9.4.9. South Korea
9.4.9.1. South Korea: Market Size and Forecast, By Component, 2021 – 2034 ($ Billion)
9.4.9.2. South Korea: Market Size and Forecast, By Technology, 2021 – 2034 ($ Billion)
9.4.9.3. South Korea: Market Size and Forecast, By End Use, 2021 – 2034 ($ Billion)
9.4.10. Indonesia
9.4.10.1. Indonesia: Market Size and Forecast, By Component, 2021 – 2034 ($ Billion)
9.4.10.2. Indonesia: Market Size and Forecast, By Technology, 2021 – 2034 ($ Billion)
9.4.10.3. Indonesia: Market Size and Forecast, By End Use, 2021 – 2034 ($ Billion)
9.4.11. Malaysia
9.4.11.1. Malaysia: Market Size and Forecast, By Component, 2021 – 2034 ($ Billion)
9.4.11.2. Malaysia: Market Size and Forecast, By Technology, 2021 – 2034 ($ Billion)
9.4.11.3. Malaysia: Market Size and Forecast, By End Use, 2021 – 2034 ($ Billion)
9.4.12. Thailand
9.4.12.1. Thailand: Market Size and Forecast, By Component, 2021 – 2034 ($ Billion)
9.4.12.2. Thailand: Market Size and Forecast, By Technology, 2021 – 2034 ($ Billion)
9.4.12.3. Thailand: Market Size and Forecast, By End Use, 2021 – 2034 ($ Billion)
9.4.13. Philippines
9.4.13.1. Philippines: Market Size and Forecast, By Component, 2021 – 2034 ($ Billion)
9.4.13.2. Philippines: Market Size and Forecast, By Technology, 2021 – 2034 ($ Billion)
9.4.13.3. Philippines: Market Size and Forecast, By End Use, 2021 – 2034 ($ Billion)
9.4.14. Singapore
9.4.14.1. Singapore: Market Size and Forecast, By Component, 2021 – 2034 ($ Billion)
9.4.14.2. Singapore: Market Size and Forecast, By Technology, 2021 – 2034 ($ Billion)
9.4.14.3. Singapore: Market Size and Forecast, By End Use, 2021 – 2034 ($ Billion)
9.4.15. Rest of Asia Pacific
9.4.15.1. Rest of Asia Pacific: Market Size and Forecast, By Component, 2021 – 2034 ($ Billion)
9.4.15.2. Rest of Asia Pacific: Market Size and Forecast, By Technology, 2021 – 2034 ($ Billion)
9.4.15.3. Rest of Asia Pacific: Market Size and Forecast, By End Use, 2021 – 2034 ($ Billion)
9.5. South America
9.5.1. South America: Market Size and Forecast, By Country, 2021 – 2034 ($ Billion)
9.5.2. South America: Market Size and Forecast, By Component, 2021 – 2034 ($ Billion)
9.5.3. South America: Market Size and Forecast, By Technology, 2021 – 2034 ($ Billion)
9.5.4. South America: Market Size and Forecast, By End Use, 2021 – 2034 ($ Billion)
9.5.5. Brazil
9.5.5.1. Brazil: Market Size and Forecast, By Component, 2021 – 2034 ($ Billion)
9.5.5.2. Brazil: Market Size and Forecast, By Technology, 2021 – 2034 ($ Billion)
9.5.5.3. Brazil: Market Size and Forecast, By End Use, 2021 – 2034 ($ Billion)
9.5.6. Argentina
9.5.6.1. Argentina: Market Size and Forecast, By Component, 2021 – 2034 ($ Billion)
9.5.6.2. Argentina: Market Size and Forecast, By Technology, 2021 – 2034 ($ Billion)
9.5.6.3. Argentina: Market Size and Forecast, By End Use, 2021 – 2034 ($ Billion)
9.5.7. Rest of South America
9.5.7.1. Rest of South America: Market Size and Forecast, By Component, 2021 – 2034 ($ Billion)
9.5.7.2. Rest of South America: Market Size and Forecast, By Technology, 2021 – 2034 ($ Billion)
9.5.7.3. Rest of South America: Market Size and Forecast, By End Use, 2021 – 2034 ($ Billion)
9.6. Middle East & Africa
9.6.1. Middle East & Africa: Market Size and Forecast, By Country, 2021 – 2034 ($ Billion)
9.6.2. Middle East & Africa: Market Size and Forecast, By Component, 2021 – 2034 ($ Billion)
9.6.3. Middle East & Africa: Market Size and Forecast, By Technology, 2021 – 2034 ($ Billion)
9.6.4. Middle East & Africa: Market Size and Forecast, By End Use, 2021 – 2034 ($ Billion)
9.6.5. Saudi Arabia
9.6.5.1. Saudi Arabia: Market Size and Forecast, By Component, 2021 – 2034 ($ Billion)
9.6.5.2. Saudi Arabia: Market Size and Forecast, By Technology, 2021 – 2034 ($ Billion)
9.6.5.3. Saudi Arabia: Market Size and Forecast, By End Use, 2021 – 2034 ($ Billion)
9.6.6. UAE
9.6.6.1. UAE: Market Size and Forecast, By Component, 2021 – 2034 ($ Billion)
9.6.6.2. UAE: Market Size and Forecast, By Technology, 2021 – 2034 ($ Billion)
9.6.6.3. UAE: Market Size and Forecast, By End Use, 2021 – 2034 ($ Billion)
9.6.7. Egypt
9.6.7.1. Egypt: Market Size and Forecast, By Component, 2021 – 2034 ($ Billion)
9.6.7.2. Egypt: Market Size and Forecast, By Technology, 2021 – 2034 ($ Billion)
9.6.7.3. Egypt: Market Size and Forecast, By End Use, 2021 – 2034 ($ Billion)
9.6.8. South Africa
9.6.8.1. South Africa: Market Size and Forecast, By Component, 2021 – 2034 ($ Billion)
9.6.8.2. South Africa: Market Size and Forecast, By Technology, 2021 – 2034 ($ Billion)
9.6.8.3. South Africa: Market Size and Forecast, By End Use, 2021 – 2034 ($ Billion)
9.6.9. Rest of Middle East & Africa
9.6.9.1. Rest of Middle East & Africa: Market Size and Forecast, By Component, 2021 – 2034 ($ Billion)
9.6.9.2. Rest of Middle East & Africa: Market Size and Forecast, By Technology, 2021 – 2034 ($ Billion)
9.6.9.3. Rest of Middle East & Africa: Market Size and Forecast, By End Use, 2021 – 2034 ($ Billion)
CHAPTER 10. Competitive Landscape
10.1. Competitior Benchmarking 2025
10.2. Market Share Analysis, 2023
10.3. Key Developments Analysis By Top 5 Companies
10.4. Market Share Acquisition Strategies: Analysis of Key Approaches Employed by Top Players
CHAPTER 11. Company Profiles
11.1. ABB Ltd
11.1.1. Business Overview
11.1.2. Financial Analysis
11.1.2.1. Business Segment Revenue, 2023
11.1.2.2. Geographic Revenue Mix, 2023
11.1.3. Product Portfolio
11.1.4. Recent Development and Strategies Adopted
11.1.5. SWOT Analysis
11.2. Siemens
11.2.1. Business Overview
11.2.2. Financial Analysis
11.2.2.1. Business Segment Revenue, 2024
11.2.2.2. Geographic Revenue Mix, 2024
11.2.3. Product Portfolio
11.2.4. Recent Development and Strategies Adopted
11.3. General Electric
11.3.1. Business Overview
11.3.2. Financial Analysis
11.3.2.1. Business Segment Revenue, 2023
11.3.2.2. Geographic Revenue Mix, 2023
11.3.3. Product Portfolio
11.3.4. Recent Development and Strategies Adopted
11.3.5. SWOT Analysis
11.4. Rockwell Automation Inc.
11.4.1. Business Overview
11.4.2. Financial Analysis
11.4.2.1. Business Segment Revenue, 2023
11.4.2.2. Geographic Revenue Mix, 2023
11.4.3. Product Portfolio
11.4.4. Recent Development and Strategies Adopted
11.4.5. SWOT Analysis
11.5. Schneider Electric
11.5.1. Business Overview
11.5.2. Financial Analysis
11.5.2.1. Business Segment Revenue, 2023
11.5.2.2. Geographic Revenue Mix, 2023
11.5.3. Product Portfolio
11.5.4. Recent Development and Strategies Adopted
11.5.5. SWOT Analysis
11.6. Honeywell International Inc.
11.6.1. Business Overview
11.6.2. Financial Analysis
11.6.2.1. Business Segment Revenue, 2023
11.6.2.2. Geographic Revenue Mix, 2023
11.6.3. Product Portfolio
11.6.4. Recent Development and Strategies Adopted
11.7. Emerson Electric Co.
11.7.1. Business Overview
11.7.2. Financial Analysis
11.7.2.1. Business Segment Revenue, 2023
11.7.2.2. Geographic Revenue Mix, 2023
11.7.3. Product Portfolio
11.7.4. SWOT Analysis
11.8. FANUC CORPORATION
11.8.1. Business Overview
11.8.2. Financial Analysis
11.8.2.1. Business Segment Revenue, 2023
11.8.2.2. Geographic Revenue Mix, 2023
11.8.3. Product Portfolio
11.8.4. Recent Development and Strategies Adopted
11.9. Yokogawa Electric Corporation
11.9.1. Business Overview
11.9.2. Financial Analysis
11.9.2.1. Business Segment Revenue, 2023
11.9.2.2. Geographic Revenue Mix, 2023
11.9.3. Product Portfolio
11.9.4. Recent Development and Strategies Adopted
11.9.5. SWOT Analysis
11.10. 3D Systems Inc
11.10.1. Business Overview
11.10.2. Financial Analysis
11.10.2.1. Business Segment Revenue, 2023
11.10.2.2. Geographic Revenue Mix, 2023
11.10.3. Product Portfolio

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