Smart Manufacturing A Booming Industry | Siemens, General Electric, Rockwell Automation, Schneider, Honeywell International Inc.,

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Smart Manufacturing A Booming Industry | Siemens, General Electric, Rockwell Automation, Schneider, Honeywell International Inc.,

November 13
10:54 2019
Smart Manufacturing A Booming Industry | Siemens, General Electric, Rockwell Automation, Schneider, Honeywell International Inc.,

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, 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 global smart manufacturing market size is estimated to reach USD 395.24 billion by 2025, registering a CAGR of 10.7% according to a new study by Grand View Research, Inc. 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.

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.

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.

North America smart manufacturing market, by end use, 2014 - 2025 (USD Billion)

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Further key findings from the study suggest:

  • 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.

China smart manufacturing market, by component, 2018 (%)

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Grand View Research has segmented the 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

    • UK

    • Germany

  • Asia Pacific

    • China

    • India

    • Japan

  • Latin America

    • Brazil

    • Mexico

  • MEA

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Vaccine Contract Manufacturing Market: https://www.grandviewresearch.com/industry-analysis/vaccine-contract-manufacturing-market

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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