[ad_1]
Emergen Research Logo
The rising adoption of big data analytics, autonomous robots, artificial intelligence, and digitized supply chain management solutions in the industrial sectors
VANCOUVER, BRITISH COLUMBIA, CANADA, November 15, 2022 /EINPresswire.com/ — The global Smart Manufacturing Market will be worth USD 484.97 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the increasing adoption of digital technologies across all major industries, including food & beverage, petrochemicals, automotive, aerospace & defense, and energy & power. The rising need to eliminate human & machine errors, enhanced asset efficiency and production quality has increased the adoption of digitized supply chain management solutions.
The increasing need for operational efficiency, connected logistics, better connectivity, and scalability is most likely to increase the adoption of Industrial IoT in the manufacturing industry.
Technology-driven method known as “smart manufacturing” (SM) uses Internet-connected machinery to track manufacturing. SM seeks to automate processes and use data analytics to improve manufacturing performance. There is a specific SM application for the Industrial Internet of Things (IIoT). In order to collect data about their operational status and performance during implementations, sensors are used in production equipment. Previously, that information was kept in local databases on specific devices and only used to identify the cause of equipment failures after they had already happened. Machines will be better able to communicate as smart manufacturing spreads and more of them are connected via the Internet of Things, potentially enabling more automation.
Governments all across the world acknowledge the huge potential of smart manufacturing technologies. As a result, they support and encourage R&D for innovations like industrial 3D printing and the IIoT. As potential technology users, different governments are investing in IIoT research. They make investments in new IoT implementation and research initiatives in order to create and run smart cities in the future.
Businesses and governments from all over the world are curious in the new uses for 3D printing. Governments in the Asia-Pacific region are constantly creating programmes and plans to digitise manufacturing facilities.
Some Key Highlights from the Report:
In May 2019, ABB and the Vietnamese Ministry of Science and Technology (MoST) exchanged a Letter of Intent (LOI) in Stockholm, Sweden. The LOI was exchanged to accelerate the realization of smart manufacturing in Vietnam.
The Manufacturing Execution System segment held the largest market share of 28.7% in 2019. Increasing utilization of the advanced and cost-effective technologies, such as the cloud-based Manufacturing Execution System, in the manufacturing process by the small and medium-sized enterprises (SMEs) is expected to drive the segment’s growth.
Industrial Robotics is forecasted to grow with the fastest CAGR of 13.6% over the forecast period. Implementation of artificial intelligence and the increasing investments for automation across all major industries in the developing countries is driving the growth of the segment.
The automotive industry segment held the largest market share of Smart Manufacturing in 2019. Increasing implementation of advanced technologies such as Industrial 3D printing in order to reduce the overall manufacturing cost is expected to drive the growth of the market.
How will this Report Benefit you?
An Emergen Research report of 250 pages contains 194 tables, 189 charts and graphics, and anyone who needs a comprehensive analysis of the global smart manufacturing market, as well as commercial, in-depth analyses of the individual segments, will find the study useful. Our recent study allows you to assess the entire regional and global market for smart manufacturing. In order to increase market share, obtain financial analysis of each segment and the whole market. Look at how you can utilize the current and potential revenue-generating opportunities available in this sector. We believe that there are significant prospects for energy storage technology in this industry due to the rapid expansion of the technology. In addition to helping you build growth strategies, improve competitor analysis, and increase business productivity, the research will also assist you in making better strategic decisions.
The report offers a comprehensive breakdown of the regional analysis of the market and subsequent country-wise analysis. The regional analysis of the market comprises of production volume information, consumption volume and patterns, revenue, and growth rate for the forecast period of 2020-2027. According to the regional analysis, the market is primarily spread over key geographical regions as follows:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Request a discount on the report @ https://www.emergenresearch.com/request-discount/340
As the 5G era develops, it is projected that the current IoT-based smart industrial applications will alter. 5G has the potential to change how future IoT ecosystems are built in terms of latency, security, scalability, dependability, and the degree of individual control over connectivity parameters. Additional complex use cases needing more network capabilities arise as the range of IoT application domains expands. Support for integrated sensors, more exact device alignment, and quick device movement are a few examples of these features.
The report offers a comprehensive overview of the competitive landscape and covers company profiles, production and manufacturing capacity, product portfolio, expansion strategies, and business initiatives such as mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches and brand promotions among others.
Prominent Players Analyzed in the Report:
IBM, ABB, General Electric, Siemens, Rockwell Automation, Honeywell International, Schneider Electric, Mitsubishi Electric, Emerson Electric, and Cisco, among others.
For more informative information, please visit us @https://www.emergenresearch.com/industry-report/smart-manufacturing-market
Furthermore, the report divides the smart manufacturing market into key segments and sub-segments to offer an analysis of the product type and application spectrum of the industry. It also offers predictions about the segments expected to show significant growth during the projected timeline.
Emergen Research has segmented the global Smart Manufacturing Market on the basis of Information Technology, Enabling Technology, Industry:
Information Technology Outlook (Revenue, USD Billion; 2017-2027)
Manufacturing Execution System
Human-Machine Interface
Warehouse Management System
Plant Asset Management
Industrial Communication
Enterprise Manufacturing Intelligence
Product lifecycle Management
Others
Enabling Technology Outlook (Revenue, USD Billion; 2017-2027)
Industrial Robotics
Machine Vision
Industrial 3D printing
Industrial Internet of Things (IIoT)
Artificial Intelligence (AI) in manufacturing
Blockchain in manufacturing
Augmented Reality and Virtual Reality in manufacturing
Others
Industry Outlook (Revenue, USD Billion; 2017-2027)
Energy & Power
Aerospace & Defense
Pharmaceuticals
Automotive
Food & Beverage
Semiconductor & electronics
Oil & Gas
Chemicals
Others
Information found nowhere else
With our new report, you are less likely to fall behind in knowledge or miss out on opportunities. See how our work could benefit your research, analyses, and decisions. Emergen Research study is for everybody needing commercial analyses for the smart manufacturing Market, 2020 to 2027, market-leading companies. You will find data, trends and predictions.
Request Customization of the Report @ https://www.emergenresearch.com/request-for-customization/340
Thank you for reading our report. Please connect with us to know more about the report or the customization of the report. Our team will ensure the report is best suited to meet your requirements.
Explore More Reports by Emergen Research:
Smart Farming Market
https://www.emergenresearch.com/industry-report/smart-farming-market
Electric Vehicle Battery Market
https://www.emergenresearch.com/industry-report/electric-vehicle-battery-market
Fingerprint Sensors Market
https://www.emergenresearch.com/industry-report/fingerprint-sensors-market
Blockchain Technology Market
https://www.emergenresearch.com/industry-report/blockchain-technology-market
Offshore Wind Energy Market
https://www.emergenresearch.com/industry-report/offshore-wind-energy-market
Indoor Farming Technology Market
https://www.emergenresearch.com/industry-report/indoor-farming-technology-market
Feminine Hygiene Products Market
https://www.emergenresearch.com/industry-report/feminine-hygiene-products-market
Skin Lightening Market
https://www.emergenresearch.com/industry-report/skin-lightening-market
About Us:
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Eric Lee
Emergen Research
+91 90210 91709
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
[ad_2]
Source link
