JERSEY CITY, NJ, December 14, 2021 / PRNewswire / – Verified Market Research recently published a report, “Smart Manufacturing MarketâBy component (hardware, software, services), by technology (machine runtime systems, programmable logic controller, SCADA), by end use (automotive, aerospace and defense, chemicals and materials) and by geography. verified, the global smart manufacturing market size was estimated to be $ 259.63 billion in 2020 and should reach $ 589.98 billion by 2028, with a CAGR of 12.4% from 2021 to 2028.
Download the PDF brochure: https://www.verifiedmarketresearch.com/download-sample/?rid=49206
Browse the table of contents in depth to “Smart Manufacturing Market“
202 – Pages
126 – Tables
37 – Figures
Overview of the Global Smart Manufacturing Market
The growing adoption of Industry 4.0 is expected to drive demand for smart manufacturing. Industry 4.0 is the digital transformation of manufacturing / production and related industries, as well as value creation processes. Industry 4.0 is changing the way companies manufacture, improve and distribute their products. Manufacturers are integrating new technologies into their production facilities and operations, such as the Internet of Things (IoT), cloud computing and analytics, as well as AI and machine learning.
Increased automation, predictive maintenance, self-optimization of process improvements and, more importantly, a new level of efficiency and responsiveness to customers that was not previously possible are all benefits of digital technologies. The development of smart factories offers the manufacturing industry an incredible opportunity to enter the Fourth Industrial Revolution. Analyzing large amounts of big data collected from factory sensors ensures real-time visibility of manufacturing assets and can provide tools to perform predictive maintenance to reduce downtime. Smart factories that use high-tech IoT devices have higher productivity and better quality. Using AI-powered visual information to replace manual inspection business models reduces manufacturing errors and saves money and time.
Quality control personnel can configure a cloud-connected smartphone with minimal investment to monitor manufacturing processes from virtually anywhere. Manufacturers can detect errors as early as possible, when repair jobs are more expensive, by using machine learning algorithms. Industry 4.0 can be applied to all types of industries, discrete manufacturing and processes, as well as oil and gas, mining and other industrial sectors. Apart from that, with increasingly stringent government regulations coming to the world, smart manufacturing will allow manufacturers to better comply with those regulations.
- In july 2020, ABB has opened a new robotics facility to support the digital transformation of manufacturing into India. The facility will enable ABB India to provide robotic applications and digital solutions to a variety of Indian industries including automotive, agribusiness, electronics and other emerging sectors.
The main players in the market are ABB, Siemens, General Electric, Rockwell Automation, Inc., Schneider Electric, Honeywell International Inc., Emerson Electric, Fanuc and others.
Verified market research segmented the global smart manufacturing market on the basis of components, technology, end use, and geography.
- Smart Manufacturing Market, By Component
- Smart Manufacturing Market, By Technology
- Machine execution systems
- Programmable Logic Controller
- Integrated Management Software
- Discrete control systems
- Human Machine Interface
- Industrial vision
- 3d printing
- product lifecycle management
- Plant asset management
- Smart Manufacturing Market, By End Use
- Aerospace and Defense
- Chemicals and materials
- Health care
- Industrial equipment
- Food & Agriculture
- Petroleum gas
- Smart Manufacturing Market by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
Browse related reports:
IoT in the manufacturing market by component (solution, platform), by solution (data management, network management), by software (monitoring software, network management), by service (professional services, services system integration and deployment), by connectivity (satellite network, cellular network), by application (predictive maintenance, optimization of business processes), by vertical end use (energy and utilities, automotive), by geography, forecasts, 2021-2028
Electronic contract manufacturing and design services market by service (electronic design and engineering, electronics assembly, electronics manufacturing), by end use (healthcare, IT and telecommunications, automotive, aerospace and defense, consumer electronics), by geography, forecast, 2021-2028
Manufacturing Execution Systems market by offering (software, services), by type of deployment (type of on-site deployment, type of on-demand deployment, hybrid), by processing industry (food and beverage, oil and gas, chemicals, pulp and paper), By geography, forecast, 2021-2028
Industrial control and factory automation market by component (sensors, industrial robots, machine vision, control valves, industrial PC, control devices), by solution (distributed control system (DCS), programmable logic controller ( PLC), Manufacturing Execution System (MES)), Product Lifecycle Management (PLM), Plant Asset Management (PAM)), By Industry (Process Industry and Discrete Industry), By Geography, Forecasts, 2021-2028
Top 10 Semiconductor Manufacturers Transforming With Cutting-edge Technologies
Visualize the Smart Manufacturing Market Using Verified Market Intelligence: -:
Verified market intelligence is our BI compatible platform for the narrative storytelling of this market. VMI offers detailed forecasting trends and accurate information on over 20,000 emerging and niche markets, helping you make critical revenue-impacting decisions for a bright future.
VMI provides a holistic overview and global competitive landscape with respect to region, country and segment, and key players in your market. Present your market report and findings with a built-in presentation function, saving over 70% of your time and resources for investor arguments, sales and marketing, R&D and product development. VMI enables data delivery in interactive Excel and PDF formats with over 15+ key market indicators for your market.
Verified Market Research is a leading global research and advisory firm serving more than 5,000 clients. Verified Market Research provides advanced analytical research solutions while delivering insightful research studies. We provide insight into strategic and growth analyzes, the data needed to achieve business goals, and critical revenue decisions.
Our 250 analysts and SMEs offer a high level of expertise in data collection and governance using industry techniques to collect and analyze data on more than 15,000 high impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise and years of collective experience to produce informative and accurate research.
We study over 14 categories of Semiconductors & Electronics, Chemicals, Advanced Materials, Aerospace & Defense, Energy & Power, Healthcare, Pharmaceuticals , automotive and transport, information and communication technology, software and services, information security, mining, minerals and metals, building & construction, agricultural industry and medical devices from over 100 countries.
Mr. Edwyne Fernandes
Verified Market ResearchÂ®
United States: +1 (650) -781-48080
UK: +44 (753) -715-0008
APAC: +61 (488) -85-9400
US Toll Free: +1 (800) -782-1768
E-mail: [emailÂ protected]
Follow us: LinkedIn | Twitter
SOURCE Verified market research