Report Ocean introduces a fresh report examining the ‘Global Smart Manufacturing Market’, encompassing its size, share, growth, industry trends, and forecast up to 2032. This comprehensive analysis delves into various industry components and growth patterns that offer valuable insights for anticipating the market’s future trajectory.
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.
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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.
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)
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
- 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)
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa)
Some Questions Answered in the Smart Manufacturing Market Report:
- What is the projected size of the global Smart Manufacturing market in 2032, and what growth rate is expected?
- What are the primary drivers of growth in the global Smart Manufacturing industry?
- What are the major market trends that are affecting the expansion of the Smart Manufacturing market?
- What obstacles must be overcome in order to achieve sustained growth in the Smart Manufacturing market?
- What opportunities and threats do vendors in the global Smart Manufacturing market face?
- What are the raw materials and manufacturing equipment used in the production of Smart Manufacturing, and what is the manufacturing process?
- What are the different types and applications of Smart Manufacturing, and what is the market share of each type and application?
- What factors, such as trends, challenges, and risk factors, are currently shaping the growth of the Smart Manufacturing market?
- What factors are driving the growth of the Smart Manufacturing market in the top regions worldwide?
- Who are the major players in the global Smart Manufacturing market, and what strategies are they employing to succeed?
- What industrial trends, drivers, and challenges are influencing the expansion of the Smart Manufacturing market?
- What are the main findings of a five forces analysis of the global Smart Manufacturing market?
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