Categories: Industrial Automation & Equipment | Report Code : IAE20206 | No. of Pages : 130
Overview:
The global smart manufacturing market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. Smart manufacturing can be stated as the use of advanced technology to monitor the production process in order to increase the efficiency and productivity of plant. Manufacturers are adopting connected machinery in order to automate operations and use data analytics to enhance the performance of the manufacturing plant.
Market Dynamics:
Increasing advancements in manufacturing technology and growing demand for plant automation that has advanced control, sensing, modeling, and simulation capabilities are major factors expected to drive growth of the global smart manufacturing market. In addition, high internet penetration, availability of advanced IoT devices is resulting in manufactures to focus on enhancing the operational process which is another factor expected to positively impact the growth of target market.
Increasing merger and acquisition activities by major players in order to enhance the business presence and enhance the product portfolio is another factor expected to support growth of the target market.
Key Trends:
Players focus on business partnership and agreements in order to increase the business presence is the key trend observed in the target market. In June 2018, Rockwell Automation, Inc. signed a strategic partnership with PTC Inc. for collaborative development of an integrated information solution that will increase customers’ plant efficiency and reduce operational risk. This is expected to help the company to enhance the business.
Regional Analysis:
For detailed understanding of market dynamics, the global smart manufacturing market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America accounted for the major revenue share in 2018, owing to availability of advanced infrastructure for the adoption of advanced devices. In addition, high presence of key manufacturers, increasing automation approach among manufacturers, and adoption of cloud-based technology to gain operational efficiency are other factors expected to support growth of the regional market.
Scope of the Report:
Report Feature |
Details |
Base Year: |
2018 |
Projection Period: |
2019-2029 |
Market Details: |
Total revenue and forecast, CAGR, Market value, share, and Y-o-Y growth by segment and region |
Segment Covered: |
Component, Technology, and Vertical |
Region Covered: |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Report Coverage: |
Market growth driving factors, challenges & pitfalls, opportunities, trends, key players analysis, and region analysis |
Detailed Segmentation:
Global Smart Manufacturing Market, By Component:
Global Smart Manufacturing Market, By Technology:
Global Smart Manufacturing Market, By Vertical:
Key Players Covered:
Key players operating in the market includes, ABB Ltd., General Electric Co., Mitsubishi Electric Corporation, Emerson Electric Co., Fanuc Corporation, Honeywell International, Inc., Robert Bosch GmbH, Rockwell Automation, Inc., Schneider Electric SE, and Siemens AG.
Key Features of the Study:
Foresight Market Research provides detailed analysis on global market in our report- Global Smart Manufacturing Market by component, technology, vertical, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global smart manufacturing market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, market expansion, and marketing tactics used overall the globe.