Smart Manufacturing Market Size, Share & Trends Report

Smart Manufacturing Market Size, Share & Trends Analysis Report By Component, By Technology (Product Lifecycle Management, 3D Printing, Enterprise Resource Planning), By End-use, By Region, And Segment Forecasts, 2023 - 2030

Report ID: GVR-2-68038-028-6
Number of Pages: 300
Format: Electronic (PDF)

Historical Range: 2018 - 2021
Industry: Technology

Market Segmentation

Smart Manufacturing Component Outlook (Revenue, USD Billion, 2018 - 2030)
- Hardware
- Software
- Services
Smart Manufacturing Technology Outlook (Revenue, USD Billion, 2018 - 2030)
- 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, 2018 - 2030)
- Automotive
- Aerospace & Defence
- Chemicals & Materials
- Healthcare
- Industrial Equipment
- Electronics
- Food & Agriculture
- Oil & Gas
- Others
Smart Manufacturing Regional Outlook (Revenue, USD Billion, 2018 - 2030)
- North America
- Europe
  - Europe Smart Manufacturing Market, by Component
  - Europe Smart Manufacturing Market, by Technology
  - Europe Smart Manufacturing Market, by End-Use
  - U.K.
    - U.K. Smart Manufacturing Market, by Component
    - U.K. Smart Manufacturing Market, by Technology
    - U.K. Smart Manufacturing Market, by End-Use
  - Germany
    - Germany Smart Manufacturing Market, by Component
    - Germany Smart Manufacturing Market, by Technology
    - Germany Smart Manufacturing Market, by End-Use
- Asia Pacific
  - Asia Pacific Smart Manufacturing Market, by Component
  - Asia Pacific Smart Manufacturing Market, by Technology
  - Asia Pacific Smart Manufacturing Market, by End-Use
  - China
    - China Smart Manufacturing Market, by Component
    - China Smart Manufacturing Market, by Technology
    - China Smart Manufacturing Market, by End-Use
  - Japan
    - Japan Smart Manufacturing Market, by Component
    - Japan Smart Manufacturing Market, by Technology
    - Japan Smart Manufacturing Market, by End-Use
  - India
    - India Smart Manufacturing Market, by Component
    - India Smart Manufacturing Market, by Technology
    - India Smart Manufacturing Market, by End-Use
- Latin America
  - Latin America Smart Manufacturing Market, by Component
  - Latin America Smart Manufacturing Market, by Technology
  - Latin America Smart Manufacturing Market, by End-Use
  - Brazil
    - Brazil Smart Manufacturing Market, by Component
    - Brazil Smart Manufacturing Market, by Technology
    - Brazil Smart Manufacturing Market, by End-Use
  - Mexico
    - Mexico Smart Manufacturing Market, by Component
    - Mexico Smart Manufacturing Market, by Technology
    - Mexico Smart Manufacturing Market, by End-Use
- Middle East & Africa
  - Middle East & Africa Smart Manufacturing Market, by Component
  - Middle East & Africa Smart Manufacturing Market, by Technology
  - Middle East & Africa Smart Manufacturing Market, by End-Use

Smart Manufacturing Market Dynamics

Drivers: Proliferation Of Internet Of Things

Internet of things has gained popularity in the global manufacturing sector, owing to numerous benefits such as a reduction in operational costs and an increase in efficiency and productivity. IoT systems are being deployed on shop floors and in supply chains and have been instrumental in providing real-time insights, monitoring capabilities for product manufacturing, and support services. IoT-enabled plants are reportedly at the forefront in reducing maintenance and support costs, which has led to the optimization of business operations, product and service innovation, and enhanced supply chain and logistics management. Furthermore, IoT has enabled manufacturers to modernize their operations at two basic levels, namely in providing connected products and connecting supply chains. While the demand for IoT is increasing in most sectors, the role played by solution providers and vendors is further contributing to its extravagant growth. Numerous initiatives at the industry level have been promoting and advertising IoT applications and their use cases.

Increasing Demand For Automation, Quality, And Efficiency

Industrial automation has been in use in the manufacturing sector for the past few years. The initial investments in industrial automation were made by the automotive manufacturers. Most of the traditional, routine jobs have been automated using robotic systems for greater efficiency and quality of products. Furthermore, robotics and automation are expected to gain increased importance in the coming years, as the concerns of sustainability and product quality tend to negatively influence a company’s reputation. Additionally, the demographical shifts in the labor class have also been instrumental in generating demand for automation in various industries. For instance, the average labor wages in China and India have considerably increased in recent years while the costs of robots are expected to continue to reduce till 2020. This is further expected to help manufacturers in using various opportunities and avenues for leveraging automation to obtain maximizing gains. Research and development activities undertaken by many prominent players in the market are also aiding the sprawl of automation, wherein, sectors such as automotive, logistics, consumer electronics, and aerospace are at the forefront.

Restraints: Security Concerns

The threat of cyberattacks has been growing as the manufacturing industry is increasingly using the Internet of Things and mobile devices. Furthermore, the transfer of vast amounts of data that takes place between shop floors and the cloud, as well as among the stakeholders across a supply chain, is further expected to make systems vulnerable to threats from internet sabotage attacks. These attacks can materialize in numerous ways, including denial of service, theft of critical data and information, intellectual property theft, interference or disruption of process controls, and espionage. The automotive sector is the main target for most attacks, owing to the increased competition amongst different vendors in the industries. In June 2020, Honda was hit by a ransomware attack, which led to a temporary shutdown of two of the company’s manufacturing plants in Turkey and Ohio. Likewise, other sectors are facing an increasing threat from cyberattacks as well; for instance, in December 2019, a cyberattack on Hoya Corporation, a Japanese optical products manufacturer led to a partial shutdown of its manufacturing plant in Thailand for three days.

What Does This Report Include?

This section will provide insights into the contents included in this smart manufacturing market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.

Smart manufacturing market qualitative analysis

Industry overview
Industry trends
Market drivers and restraints
Market size
Growth prospects
Porter’s analysis
PESTEL analysis
Key market opportunities prioritized
Competitive landscape
- Company overview
- Financial performance
- Product benchmarking
- Latest strategic developments

Smart manufacturing market quantitative analysis

Market size, estimates, and forecast from 2018 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance

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