Smart Manufacturing Market Size Worth $395.24 Billion By 2025 – iCrowdNewswire
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Oct 11, 2019 7:48 AM ET

Smart Manufacturing Market Size Worth $395.24 Billion By 2025


Smart Manufacturing Market Size Worth $395.24 Billion By 2025

iCrowd Newswire - Oct 11, 2019

San Francisco, October 11, 2019: Latest study by Grand View Research, Inc. titled “Smart Manufacturing Market Size, Share & Trends Analysis Report By Technology (MES, PLC, 3D Printing, HMI, Machine Vision, DCS), By End Use, By Region, And Segment Forecasts, 2019 – 2025”, The global smart manufacturing market size is estimated to reach USD 395.24 billion by 2025, registering a CAGR of 10.7. The growing emphasis on increasing production efficiency and gaining visibility across the entire value chain are the two major factors driving market growth. In addition, the availability of advanced technologies such as 3D printing, Manufacturing Execution Systems (MES), and plant asset management solutions to small and medium enterprises is further accelerating the industry growth.

 

north-america-smart-manufacturing-market

 

Some key findings from the report:

 

Enterprise control, asset performance management, and augmentation are expected to lead the smart manufacturing solutions landscapes with many instances of these technologies overlapping with each other.

 

Collaborative robots and additive manufacturing are also playing a pivotal role in the industry’s growth. However, some manufacturing sectors are still looking for efficient ways to capitalize on them.

 

While Industrial Internet of Things and control systems have been highly touted for their benefits, cybersecurity and security standards are expected to gain renewed interest in the industry.

 

Major companies such as John Deere, Harley Davidson, and General Motors have successfully implemented smart manufacturing in a bid to achieve greater efficiency and effectiveness Smart manufacturing is supported by various organizations and consortiums including Industrial Internet Consortium (IIC), Smart Manufacturing Leadership Coalition (SMLC), Industrie 4.0, and MESA International, among others.

 

 

The positive impact of government initiatives and investments to promote smart manufacturing adoption has been one of the most influential factors driving smart manufacturing market growth. The fact that both industrialized countries and developing economies are aggressively pursuing this avenue is expected to further drive growth. For example, China is reportedly investing over USD 3 billion for advanced manufacturing under the Made in China 2025 program.

 

 

The final report on global smart manufacturing market based on components, technologies, end uses, and regions.

 

Smart Manufacturing Component Outlook (Revenue, USD Billion, 2014 – 2025)

 

Hardware

Software

Services

 

Smart Manufacturing Technology Outlook (Revenue, USD Billion, 2014 – 2025)

 

Machine Execution Systems

Programmable Logic Controller

Enterprise Resource Planning

SCADA

Discrete Control Systems

Human Machine Interface

Machine Vision

3D Printing

Product Lifecycle Management

Plant Asset Management

 

Smart Manufacturing End-use Outlook (Revenue, USD Billion, 2014 – 2025)

 

Automotive

Aerospace & Defense

Chemicals & Materials

Healthcare

Industrial Equipment

Electronics

Food & Agriculture

Oil & Gas

Others

 

Smart Manufacturing Regional Outlook (Revenue, USD Billion,2014 – 2025)

 

North America

U.S.

Canada

Europe

Germany

UK

Asia Pacific

Japan

China

India

Latin America

Brazil

Mexico

MEA

 

Automotive and aerospace & defense industries are the leading growth avenues for smart manufacturing solution providers with industries such as oil and gas and industrial equipment manufacturing rapidly scaling their digitalization efforts. With the proliferation of 3D printing, simulation, and modeling in manufacturing and design, these industries are expected to continue to maintain a significant growth rate over the forecast period. Though numerous solutions are available in the market, digital twin and real-time analytics are anticipated to spearhead the penetration of digitalization in these industries.

 

Browse more market research report from Next Generation Technologies Category

 

For your custom research requirements please visit Grand View Research



Contact Information:

Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: [email protected]
Web: https://www.grandviewresearch.com






Keywords:    Smart Manufacturing Market, Smart Manufacturing Market Size, Smart Manufacturing Market Share, Smart Manufacturing Industry

Tags:    Research Newswire, English