Report Ocean has recently published the “Smart Manufacturing Market” Research Report 2023-2030, offering a comprehensive analysis of the market. This report delves deep into the market dynamics, including key trends, upcoming technologies, drivers, challenges, and regulatory policies. It also features company profiles and strategies of prominent players in the industry. With over 100+ market data tables, pie charts, graphs, and figures, this global market study provides a thorough understanding of the market landscape. It presents a complete assessment, encompassing future trends, current growth factors, informed opinions, factual insights, and industry-validated market data, enabling accurate forecasts until 2030.
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The smart manufacturing market is expected to expand at a compound annual growth rate (CAGR) of 15.75% during the 2018-2023 period.
Need for data-driven decision making, intense cost competition, and streamlining of manufacturing processes for higher productivity are the key driving forces of this market.
Application segment insights:
Advancements in digital technologies such as machine learning, machine vision, and motion control, have led to the higher adoption of industrial automation in several sectors, with greater prominence in the automotive sector. The industrial automation segment occupied the largest market share (49%) globally, in 2017, followed by the Industrial Internet of Things (IIoT) (33%). A concerted effort by the industrial sectors and technology firms have resulted in innovative solutions to cater to IIoT. Smart factories have also shown steady growth, brought about by 3D printing and distributed manufacturing control systems.
End users segment insights:
The highest adoption of smart manufacturing is expected in the aerospace sector, which will expand at a CAGR of 25% during the forecasted period. This is fuelled by the increased production of advanced aircraft, such as the Boeing 787 and Airbus A350. Increased use of robots in industrial control mechanisms will drive the automotive and industrial equipment end users segment, at CAGRs of 15.6% and 11.2% respectively, during the 2018-2023 period. The chemicals and materials, food and agriculture, and healthcare sectors are also some of the promising areas for the implementation of smart manufacturing technologies.
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Regional insights:
North America is leading the innovation in the smart manufacturing market, and occupied approximately 27% of the global market in 2017. Massive investments in smart manufacturing technologies, tax subsidies for manufacturers, and innovations in robotics have fuelled the growth of the smart manufacturing market in the region. Asia-Pacific, experiencing high industrialization, occupied a 25% share in 2017. The Latin America and the Middle East and Africa markets though, still at nascent stages, are experiencing decent growth.
Companies covered:
1. KUKA
2. ABB Ltd
3. Cisco Systems, Inc.
4. IBM Security
5. The Raytheon Company
6. Stratasys, Ltd.
7. The Emerson Electric Co.
8. Alpine Data Labs
9. SAP SE
10. Maersk
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
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The report addresses the following key questions regarding the Smart Manufacturing market:
- What is the expected growth rate of the market in the upcoming years and what factors are driving this growth?
- How do consumers perceive and adopt different types of Smart Manufacturing in the market?
- How are regulatory policies and government initiatives impacting the growth of the Smart Manufacturing market?
- What is the market share of the top 5 players in the Smart Manufacturing market and how is it likely to change in the future?
- What are the latest technologies and innovations in the Smart Manufacturing market and how are they shaping the industry landscape?
- How do macroeconomic factors such as inflation, GDP, and exchange rates affect the Smart Manufacturing market?
- What are the challenges related to the supply chain and logistics that Smart Manufacturing market players face and how are they addressing them?
- How is the changing consumer behavior and preferences influencing the dynamics of the Smart Manufacturing market?
- What are the potential risks and uncertainties associated with investing in the Smart Manufacturing market, and how can they be mitigated?
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Smart Manufacturing market revenues on a global, regional, and country level, projecting trends until 2030. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Smart Manufacturing market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Smart Manufacturing market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Smart Manufacturing business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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