Global Smart Manufacturing Market By Information Technology (Human Machine Interface and Others), By Enabling Technology (Industrial 3D printing and Others), By Industry (Automotive and Others) and By Region - Global Forecast To 2030

Global Smart Manufacturing Market Overview

The Global Smart Manufacturing Market was valued at UЅD $196.5 Мn in 2020 and is projected to achieve a valuation of UЅD $534.2 Мn by 2030, at a САGR of 11.8%.

Smart manufacturing is a broad category that employs computer-integrated manufacturing, high adaptability and rapid design changes, digital information technology, and a more flexible technical workforce training.

Incorporating numerous technological advancements such as sensors, cloud computing, AI, IoT, etc., with other traditional manufacturing processes improves the overall production output. This is a major factor that is expected to play a pivotal role in boosting the revenue growth of the global smart manufacturing market over the next decade.

Moreover, key industry players are increasingly adopting these solutions to reduce production errors, improve production efficiency, lower workforce challenges, better resource optimization, and streamline production processes, and this is also a factor that is slated to contribute to the market growth of the global smart manufacturing market in the years to come.

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Furthermore, the exponential expansion of several end-use industries such as aerospace & defense, automotive, machine tools, oil & gas, healthcare, etc., that require superior products with faster turn-around times, is another factor that is expected to further augment the revenue growth of the global smart manufacturing market in the near future.

However, in light of the recent COVID-19 outbreak, the operations of numerous industries have either been temporarily halted or are functioning with a minimal workforce due to enforced lockdowns and imposed restrictions by respective governing bodies.

The global smart manufacturing market is no different, and this factor is anticipated to have a significantly negative impact on the revenue growth of this industry. In addition, the high investments required for the set-up and maintenance of these smart manufacturing facilities is another factor that may restrain the revenue growth of the global smart manufacturing market in the coming years.

Nevertheless, the full utilization of 3D printing technology in numerous end-use industries and the increasing adoption of these innovations by manufacturing players is another major factor that is anticipated to augment additional revenue growth for this global industry in the foreseeable future.

Segmentation of the Global Smart Manufacturing Market is as follows:

Regarding information technology, the human machine interface segment accounted for the maximum number of revenue shares of the global smart manufacturing market in 2020. This segment is expected to register considerable revenue growth over the forecast period. The enterprise manufacturing intelligence segment is also anticipated to index a high CAGR over the next 10 years.

Based on enabling technology, the industrial IoT segment accounted for the maximum number of revenue shares of the global smart manufacturing market in 2020. This segment is slated to continue to do so over the next 10 years. The collaborative robots segment is also expected to register a high CAGR over the forecast period.

Concerning industry, the automotive segment accounted for the maximum number of revenue shares of the global smart manufacturing market in 2020, and this segment is anticipated to retain its respective market position over the next decade. The aerospace & defense segment is also expected to register considerable revenue growth in the coming years.

Regional Segmentation and Analysis:

Markets in the Asia Pacific region accounted for the maximum number of revenue shares of the global smart manufacturing market in 2020 and are indicative of retaining their respective market position over the next decade. North America is also anticipated to index a high CAGR over the course of the forecast period.

Segmentation of the Global Smart Manufacturing Market:

Segmentation by Information Technology:

• Human Machine Interface
• Enterprise Manufacturing Intelligence
• Plant Asset Management
• Manufacturing Execution System
• Warehouse Management System
• Industrial Communications

Segmentation 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

Segmentation by Industry:

• Automotive
• Aerospace & Defense
• Chemicals & Petrochemical
• Pharmaceutical
• Semiconductor & Electronics
• Food & Beverages
• Oil & Gas
• Others (Energy, Mining, and Pulp & Paper)

Segmentation by Regions:

• North America
• Europe
• APAC
• South America
• MEA