Smart Manufacturing Market Overview
Governments worldwide are becoming aware of the many potential of smart producing technologies; thus, they're supporting and funding R&D for technologies like IIoT and industrial 3D printing. The governments of assorted countries are supporting IIoT innovation as they expect themselves to become potential adopters of the technology. They’re financially supporting new IoT analysis comes and implementations to create and run sensible cities within the future.
Governments worldwide are enterprise initiatives and providing funding to academic institutions, analysis centres, and research and technology organizations to additional explore the chances of 3D printing technology. Countries, like the U.S., the UK, and Canada, have enforced national programs for promoting university-level 3D printing analysis, driving technology advancements, and establishing various start-ups. The emergence of recent applications for 3D printing has additionally attracted industrialists and governments across the planet toward the technology. Governments of nations in APAC are actively enterprise comes and initiatives to digitalize producing facilities.
The requirement for prime investments for the readying of sensible producing solutions acts as a restraint for the expansion of the market globally. vast capital is needed to line up and install sensible producing technologies like machine-controlled guided Vehicles (AGVs), Enterprise producing Intelligence (EMI), HMI, Warehouse Management System (WMS), and PAM. this will discourage makers from adopting sensible producing. for instance, in associate enterprise, EMI is employed to modify the period coming up with, control, and execution of operations to extend productivity and operational efficiency; but, this comes with a new price. The high installation cost of information and enabling technology systems is due to the necessity for consultation, acquisition, and implementation of those systems and services.
| Report Metric | Details |
| Market size available for years | 2023–2030 |
| Base year considered | 2023 |
| Forecast period | 2024–2030 |
| Forecast unit | Value (USD Million) |
| Segments covered | Component, Technology , Application and Region |
| Regions covered | North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA) |
| Companies covered | Siemens, General Electric, Rockwell Automation, Inc. , Schneider Electric ,Honeywell International Inc. Emerson Electric ,Fanuc. |
The covid-19 Impact on Smart Manufacturing Market:
Like several different industries, COVID-19 badly knocked the electronic and semiconductor trade. This new event has compact nearly 230 countries in exactly a couple of weeks, leading to the forced conclusion of producing and transportation activities at intervals and across the countries. This has directly affected the expansion of the sector. It's calculable that COVID-19 to depart over USD thirty billion impacts on the physics and semiconductor trade. The arena is majorly affected thanks to transport restrictions on major physics and semiconductor staple suppliers. However, the rising want for semiconductors in many industries can supply fast market recovery over the longer-term amount.
Smart Manufacturing Market Segment Overview
Based on component, the smart producing market is segregated into hardware, software, and services. The software section accounted for the most important share of virtually 50.0% in 2020 and is predicted to continue its dominance over the forecast amount. The section is matured as varied solutions, together with product lifecycle management, enterprise resource designing, and producing execution systems, have already been in use for several years. in addition, the arrival of analytics and AI-driven systems is anticipated to be an important issue driving the section growth.
The Distributed system (DCS) section dominated the market in 2020 and accounted for over sixteen.0% of the revenue share. it's expected to retain its dominance over the forecast amount. DCS has the advantage of being versatile and straightforward for processes like dominant, monitoring, and coverage, that aids its increased prominence within the market. in addition, DCS offers options like dominant and redundancy, leading to increased responsibleness and system handiness. The leading market player’s area unit anticipated to introduce DCSs for varied trade verticals, ultimately boosting the section growth.
The automotive industry accounted for the most important revenue share of around twenty three.0% in 2020 and is anticipated to register the very best CAGR from 2021 to 2028. the foremost factors causative to the section growth embody advantages like quality potency, value savings, quality, and property offered by the good works solutions. The automation of entire production plants, testing and simulation, and client property area unit a number of the foremost touchpoints for good producing solutions within the automotive industry.
Market Analysis, Insights and Forecast – By Component
· Hardware
· Technology
· Services
Market Analysis, Insights and Forecast – By Technology
· 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
Market Analysis, Insights and Forecast – By Application
· Automotive
· Aerospace and Defence
· Chemical and Materials
· Healthcare
· Electronics
· Oil and Gas
· Other
Smart Manufacturing Market Regional Overview
Region-wise, in terms of regions The Asia Pacific region accounted for the most important market share of almost 36.0% in 2020. The region is also expected to emerge because the fastest-growing region over the forecast amount. Implementation of sensible producing solutions helps makers concentrate on streamlining their provide chains to boost competitiveness, improve safety within the workplace, and to cut back value. Japan is additionally rising because the producing hub for the assembly of works automation solutions and is provision them to different countries at intervals the region, creating such solutions affordable for developing countries like Asian nation.
Smart Manufacturing Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Smart Manufacturing Market Competitor overview
Some key developments and strategies adopted by manufacturers in the Smart Manufacturing are highlighted below.
· June 2021 - Honeywell Automation india limited announced that Deepak Fertilizers and Petrochemicals Corporation restricted (DFPCL) chosen Honeywell technology to convert their sprawling facility in Taloja, maharashtra, into a wise plant. Honeywell conjointly provided DFPCL with Managed Security Services, which is able to reduce the chance and impact of cyber-related disruptions and alter safer management of key parts of their ICS and OT.
Smart Manufacturing Market, Key Players
· Siemens
· General Electric
· Rockwell Automation, Inc.
· Schneider Electric
· Honeywell International Inc.
· Emerson Electric
· Fanuc
Q1. What is the total CAGR expected to be recorded for the Smart Manufacturing market during the forecast period?
Smart Manufacturing market is expected to record a CAGR of ~ xx% during the forecast period.
Q2. Which segment is projected to hold the largest share in the Smart Manufacturing Market?
Software segment is projected to hold the largest share in the Smart Manufacturing Market.
Q3. What are the driving factors for the Smart Manufacturing market?
Governments worldwide are becoming aware of the many potential of smart producing technologies; thus, they're supporting and funding R&D for technologies like IIoT and industrial 3D printing are key factors that boost the growth of the Smart Manufacturing market progressively.
Q4. Which Segments are covered in the Smart Manufacturing market report?
Service type, Technology, Application, and Region, these segments are covered in the Smart Manufacturing market report
Q5. Which are the prominent players offering Smart Manufacturing?
Siemens, General Electric, Rockwell Automation, Inc. , Schneider Electric ,Honeywell International Inc. Emerson Electric ,Fanuc
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
