GVR Report cover U.S. Smart Manufacturing Market Size, Share & Trends Report

U.S. Smart Manufacturing Market Size, Share & Trends Analysis Report By Component, By Technology (Product Lifecycle Management, 3D Printing, Enterprise Resource Planning), By End-use, And Segment Forecasts, 2024 - 2030

  • Report ID: GVR-4-68040-213-9
  • Number of Pages: 120
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2023
  • Industry: Technology

U.S. Smart Manufacturing Market Trends

The U.S. smart manufacturing market size was estimated at USD 62.26 billion in 2023 and is anticipated to grow at a compound annual growth rate (CAGR) of 13.2% from 2024 to 2030. The adoption of Industry 4.0 is the major factor driving the growth of the market. Governmental support and increasing emphasis on industrial automation in manufacturing processes, rising demand for software systems that save time and cost, increasing supply chain complexities, and emphasis on regulatory compliances are also expected to boost the growth of the market.

U.S. Smart Manufacturing Market size and growth rate, 2024 - 2030

In 2023, the U.S. accounted for over 20% of the smart manufacturing market. IT and automobile industries are two major components of Industry 4.0. IT industry is at the forefront of the existence of the market and also its development. The market has grown due to the widespread standardization and recent installation of IoT. IoT has normalized entry-level manufacturing, application, and execution of market technology worldwide. The industry uses AR, VR AI, ML, and many other modern solutions to stay on the front foot to meet contemporary challenges and demands.

There has been a significant transformation in the manufacturing sector in the form of digitization and automation in the recent past. The growing demand for knowledge-based manufacturing and connected supply chains, which are equipped with advanced control, sensing, modeling, and simulation capabilities, are driving the growth of smart manufacturing. Moreover, industrial internet of things (IIoT), cloud technology, and industrial analytics are expected to play an important role in fostering market growth over the forecast period.

During the COVID-19 pandemic, manufacturing essential products became crucial and enterprises needed to provide their services and products safely and quickly. The market grew during this as a direct result of demand, government financial assistance, and technical support. Industrial automation has developed an in-depth and in-demand market based solely on benefits and opportunities it offers other industries. Manufacturers aim to apply smart manufacturing to their processes, thus increasing the overall market. For instance, in 2021, Audi used its Production Lab (P-Lab) department to create real-life use cases for modern technology in everyday manufacturing.

Market Concentration & Characteristics

The U.S. smart manufacturing industry is characterized by a high degree of innovation. Companies are actively looking for ways to reduce costs and make enterprises agile, accelerated, efficient, and compliant with consumer product quality. Smart industrial solutions with technological development and enhancements in automation, connectivity, and security are main characteristics of the market.

U.S. Smart Manufacturing Market Concentration & Characteristics

The market is also characterized by a moderate to high level of merger and acquisition activities. For instance, Honeywell International, Inc. acquired Compressor Controls Corporation (CCC) in April 2023. CCC is a provider of turbomachinery control and optimization solutions. This acquisition is expected to strengthen their presence in automation, industrial control, and process solutions.

The need for compliance to gain a competitive edge is expected to act as a major growth driver for the industry. Quality and procedure compliance has become mandatory for manufacturers. The increasing exposure in media for defective products, emissions, and food scandals has increased to a large extent, which has made quality compliance a necessary instrument to maintain client and stakeholders trust and interest.

End-use concentration is also high in the U.S. smart manufacturing industry as it finds applications in almost all the industries which involve manufacturing. Some industries have been leading the adoption of advanced smart manufacturing, others have been relatively slower. Among these, the automotive and aerospace and defense segments are expected to be the largest contributors to industry growth.

Technology Insights

Based on technology, the discrete control system (DCS) segment accounted for the largest market share in 2023. The DCS technology runs in the background and offers control and monitor functions to the administrator. The market offers basic and advanced level technological control and overview of every process. The combination of this technology with industrial automation makes the market accessible even remotely.

The 3D printing segment is expected to grow with the highest CAGR during the forecast period owing to its large-scale adoption in design process and agile product iterations. 3D printing has been gaining traction in recent years. With the use of AI and ML as a design aid, additive manufacturing technology, or 3D printing is shifting toward automation.

End-use Insights

The automotive industry registered the largest revenue share of the market in 2023. Many automotive manufacturers are running at very minimal profits, so they turn toward smart manufacturing to reduce waste and cost and to increase their margins through productivity. The market also helps automotive companies in maintaining a high level of standardization of their products. Industry 4.0 helps the automotive industry to run round the clock and reduce labor wages.

The aerospace & defense segment is expected to grow at the highest CAGR during the forecast period. Technologies like AI, robotics, and IoT are being employed to design and develop essential weapon systems in this sector. Smart workstations and AI-enabled tools help in detecting operational efficiencies and enable futuristic approaches. Companies working in this field are proposing the use of cameras or software to identify the movement of processes which could lead to efficient, faster and easier manufacturing.

Component Insights

Based on components, the software segment accounted for the largest market share of around 47.0% in 2023. This component is the backbone of smart manufacturing industry. Advanced software helps run robots, drones, and other machines without human interruption, reducing the chance of any error. With the help of software, the market can make large strides in development and research for newer and more versatile solutions.

U.S. Smart Manufacturing Market share and size, 2023

The hardware segment captured the second largest share of the market in 2023. This segment includes robots, 3D printers, IIoT enabling equipment and devices, and AR/VR devices. While these devices are utilized at the edge of networks, their demand has been increasing in the past few years. Different types of conventional and smart sensors are an important aspect of the hardware segment, which has been exhibiting not only rapid demand growth but also increased research and development activities.

Key U.S Smart Manufacturing Company Insights

Some of the leading companies in the market include ABB Ltd., Siemens, and General Electric (GE).

  • Siemens operates in industrial engineering, electrification, automation, and digitization verticals. The company’s digital factory division offers a wide range of products including the Product Lifecycle Management (PLM) software, Manufacturing Operations Management, and Totally Integrated Automation Portal (TIAPortal).

  • GE offers industrial automation solutions to healthcare, oil and gas, mining, renewable energy, power, and healthcare industries. The company currently operates through four industrial segments, namely healthcare, aviation, power, and renewable energy.

Rockwell Automation Inc., Schneider Electric, Honeywell International Inc., and Emerson Electric Co. are some other companies in the U.S smart manufacturing market.

  • Emerson Electrical Co. designs and manufactures software, systems, electronic and electrical equipment and services for the commercial, industrial, and consumer markets. The company’s product offerings for commercial/industrial applications include valves, actuators, solenoids, control equipment, and pneumatic systems.

Key U.S Smart Manufacturing Companies:

  • ABB Ltd.
  • Cisco Systems, Inc.
  • Emerson Electric Co.
  • Fanuc Ltd.
  • General Electric Company
  • Honeywell International Inc.
  • IBM Corporation
  • Mitsubishi Electric Corporation
  • PTC
  • Robert Bosch GmbH
  • Rockwell Automation Inc.
  • Schneider Electric SE
  • Siemens AG
  • Yokogawa Electric Corporation

Recent Developments

  • In May 2023, Rockwell Automation Inc. collaborated with autonox Robotics, for the expansion and invention of robot mechanics. This partnership is expected to bring Kinetix motors and drives of Rockwell along with autonox’s robot mechanics to achieve new manufacturing possibilities.

  • In April 2020, Schneider Electric inked a partnership agreement with ProLeiT, a Germany-based industrial automation provider. This agreement is expected to strengthen Schneider Electric automation solution offering in the food and beverage industry.

U.S. Smart Manufacturing Market Report Scope

Report Attribute


Market size value in 2023

USD 62.26 billion

Revenue forecast in 2030

USD 152.11 billion

Growth rate

CAGR of 13.6% from 2024 to 2030

Actual data

2018 - 2023

Forecast period

2024 - 2030

Quantitative units

Revenue in USD million/billion and CAGR from 2024 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Component, technology, end-use

Country scope


Key companies profiled

ABB Ltd; Siemens; General Electric; Rockwell Automation, Inc.; Schneider Electric; Honeywell International Inc.; Fanuc ltd.;PTC; IBM Corporation; Cisco Systems, Inc.; and Emerson Electric Co.

Customization scope

Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

U.S. Smart Manufacturing Market Report Segmentation

This report forecasts revenue growth at country level and analyzes the latest market trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the U.S. smart manufacturing market report based on component, technology, and end-use:

  • Component Outlook (Revenue, USD Billion, 2018 - 2030)

    • Hardware

    • Software

    • Services

  • 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

  • End-use Outlook (Revenue, USD Billion, 2018 - 2030)

    • Automotive

    • Aerospace & Defense

    • Chemicals & Materials

    • Healthcare

    • Industrial Equipment

    • Electronics

    • Food & Agriculture

    • Oil & Gas

    • Others

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