5th Floor, Rajapushpa Summit
Nanakramguda Rd, Financial District, Gachibowli
Hyderabad, Telangana - 500008
India
The Smart Manufacturing Market is segmented by Technology (Programmable Logic Controller, Supervisory Controller and Data Acquisition, Enterprise Resource and Planning, Distributed Control System, Human Machine Interface, Product Lifecycle Management, Manufacturing Execution System), Components (Communication Segment, Control Device, Machine Vision Systems, Robotics, Sensor), End-user Industry (Automotive, Oil and Gas, Chemical & Petrochemical, Pharmaceutical, Food and Beverage, Metals and Mining), and Geography.
Study Period:
2020-2025
Base Year:
2020
Fastest Growing Market:
Asia Pacific
Largest Market:
Asia Pacific
CAGR:
8.4 %
The global smart manufacturing market was valued at USD 194.63 billion in 2020 and is expected to reach USD 314.39 billion by 2026 and grow at a CAGR of 8.4% over the forecast period (2021-2026). Industry 4.0 has been aiding the transition of industries from having legacy systems to smart components and smart machines, facilitating digital factories, and later, to an ecosystem of connected plants and enterprises. Anticipating the increased adoption of IoT and digital transformation across industries, the European Commission estimated that IoT's value in Europe itself is expected to exceed EUR 1 trillion in 2020.
Smart manufacturing utilizes Big Data analytics to refine complicated processes and manage supply chains. Big data analytics allows an enterprise to use smart manufacturing to shift from reactionary practices to predictive ones, a change that targets improved efficiency of the process and performance of the product.
By Technology | |
Programmable Logic Controller (PLC) | |
Supervisory Controller and Data Acquisition (SCADA) | |
Enterprise Resource and Planning (ERP) | |
Distributed Control System (DCS) | |
Human Machine Interface (HMI) | |
Product Lifecycle Management (PLM) | |
Manufacturing Execution System (MES) | |
Other Technologies |
By Component | |
Communication Segment | |
Control Device | |
Machine Vision Systems | |
Robotics | |
Sensor | |
Other Components |
By End-user Industry | |
Automotive | |
Oil and Gas | |
Chemical and Petrochemical | |
Pharmaceutical | |
Food and Beverage | |
Metals and Mining | |
Other End-user Industries |
Geography | ||||||
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Middle East & Africa |
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The smart manufacturing market is moderately competitive and consists of several major players. The major players with the prominent shares in the market are focusing on expanding their customer base across foreign countries. The companies are leveraging strategic collaborative initiatives to increase their market share and profitability. The companies operating in the market are also acquiring start-ups working on autonomous delivery robot technologies to strengthen their product capabilities. Some of the recent developments in the market are:
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHT
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
4.4 Assessment of COVID-19 impact on the Smart Manufacturing Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Demand for Automation to Achieve Efficiency and Quality
5.1.2 Need for Compliance and Government Support for Digitization
5.1.3 Proliferation of Internet of Things
5.2 Market Restraints
5.2.1 Concerns Regarding Data Security
5.2.2 High Initial Installation Costs and Lack of Skilled Workforce Preventing Enterprises from Full-scale Adoption
6. MARKET SEGMENTATION
6.1 By Technology
6.1.1 Programmable Logic Controller (PLC)
6.1.2 Supervisory Controller and Data Acquisition (SCADA)
6.1.3 Enterprise Resource and Planning (ERP)
6.1.4 Distributed Control System (DCS)
6.1.5 Human Machine Interface (HMI)
6.1.6 Product Lifecycle Management (PLM)
6.1.7 Manufacturing Execution System (MES)
6.1.8 Other Technologies
6.2 By Component
6.2.1 Communication Segment
6.2.2 Control Device
6.2.3 Machine Vision Systems
6.2.4 Robotics
6.2.5 Sensor
6.2.6 Other Components
6.3 By End-user Industry
6.3.1 Automotive
6.3.2 Oil and Gas
6.3.3 Chemical and Petrochemical
6.3.4 Pharmaceutical
6.3.5 Food and Beverage
6.3.6 Metals and Mining
6.3.7 Other End-user Industries
6.4 Geography
6.4.1 North America
6.4.1.1 Canada
6.4.1.2 United States
6.4.2 Europe
6.4.2.1 Germany
6.4.2.2 United Kingdom
6.4.2.3 France
6.4.2.4 Rest of Europe
6.4.3 Asia-Pacific
6.4.3.1 China
6.4.3.2 India
6.4.3.3 Japan
6.4.3.4 Rest of Asia-Pacific
6.4.4 Latin America
6.4.4.1 Brazil
6.4.4.2 Mexico
6.4.4.3 Rest of Latin America
6.4.5 Middle East & Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 ABB Ltd
7.1.2 Emerson Electric Company
7.1.3 Fanuc Corp.
7.1.4 General Electric Co.
7.1.5 Honeywell International Inc.
7.1.6 Mitsubishi Electric Corporation
7.1.7 Robert Bosch GmbH
7.1.8 Rockwell Automation Inc.
7.1.9 Schneider Electric SE
7.1.10 Siemens AG
7.1.11 Texas Instruments Incorporated
7.1.12 Yokogawa Electric Corporation
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
** Subject to Availability