“Global Smart Manufacturing Market, By Information Technology (Human Machine Interface, Enterprise Manufacturing Intelligence, Plant Asset Management, Manufacturing Execution System, Warehouse Management System, Industrial Communications), By Enabling Technology (Industrial 3D printing, Collaborative Robots, Industrial IoT, AI in Manufacturing, Machine Condition Monitoring, Industrial Machine Vision, Industrial Cybersecurity, Digital Twin, Automated Guided Vehicle, By Industry (Automotive, Aerospace & Defense, Chemicals & Petrochemical, Pharmaceutical), Semiconductor & Electronics, Food & Beverages, Oil & Gas Others [Energy, Mining, and Pulp & Paper]), as well as by Region – Global Forecast 2021 to 2030.”, which offers a comprehensive view of the Global Smart Manufacturing Market through systematic segmentation that encompasses every aspect of this target market. The 5-year (2020–2025) cumulative revenue of this sector is projected to be over $336.2 Mn, and is estimated to increase moderately over the latter part of the forecast period.
Smart manufacturing is a broad category of manufacturing that employs computer-integrated manufacturing, high levels of adaptability and rapid design changes, digital information technology, and a more flexible technical workforce training.
The increasing incorporation of various innovative technological advancements such as IoT, AI, sensors, machine learning, etc., as opposed to the use of conventional manufacturing processes, as a means of increasing production and operations, is a major factor that is anticipated to play a pivotal role in sustaining the projected revenue growth of the Global Smart Manufacturing Market over the next 10 years. Moreover, the steady rate of expansion being experienced various end-use industries such as the automotive, aerospace & defense, oil & gas, healthcare, machine & tools, etc., is another factor that is slated to positively contribute to the market growth of the global smart manufacturing industry in the years to come. Furthermore, the gradual adoption of 3-D printing techniques by numerous sectors is another major factor that is anticipated to boost the production outputs of these respective end-use industries. This element is also expected to further augment the projected revenue growth of the Global Smart Manufacturing Market over the course of this forecast period. These are some of the most crucial factors anticipated to play a critical role in catapulting projected revenues for the Global Smart Manufacturing Market to $534.2 Mn by 2030, at a CAGR of 11.8%.
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