Global Smart Manufacturing Market Size, Share & Trends Analysis Report, By industry (discrete industry and process industry), By component (solution and services),By deployment (cloud and on-premises), By enterprise size (large enterprises and small & medium enterprises) By Region (North America, Europe, APAC, and Others), and Segment Forecasts, 2024-2032
  • Published Date: Jan, 2024
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  • Pages: 200
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  • Table of Contents
  • Segmentation
  • Methodology
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Global Smart Manufacturing Market was valued at US $ 277.81 billion in 2023 and is expected to reach US $ 754.1 billion by 2032 growing at a CAGR of 13.5% during the forecast period 2024 – 2032.

There will be new technologies like AI, cloud computing, big data, and machine learning and other new technologies in this forecast period which will drive growth in smart manufacturing industry. In addition, the IoT is associated with machine-to-machine communication and wireless sensor networks on the networking part whereby there are also big data. Another critical constituent of it is the information that the M2M as well as the M2P communicate among themselves. These are the anticipated technologies for this market.

  • By the year 2026, they are expected to be about a billion smartphone users in India. Therefore, Samsung has targeted investing in intelligent manufacturing processes of its Noida, India facility. This substantial investment is made by Sam Sung – a renowned Korean company- in efforts towards improving production sector competitiveness.
  • In Japan, Obayashi Corporation – a producer of smart manufacturing technologies in the construction sector – has completed building a prototype 3D printed structure. This structure was approved by the ministry of land, infrastructure, transport, and tourism and therefore considered the first building on national grounds using cement-based 3D print technology.
  • The Canadian government contributed one hundred seventy-seven dollars to Next Generation manufacturing Canada which included a set of non-profit and profit-making organizations within Canada. This move aims at enhancing Canadian manufacturing power. In February 2023 the government revives its investments and granting into expansions regarding the transformative solutions that the manufacturing industry has.
  • According to Intel, IoT is expected to regulate more than 80-100% of machine shops that produce industrial goods by 2025.
  • The Japanese government provided more than $930.5 million to support the national robot strategy in 2022.
  • According to Deloitte’s survey, 62 percent of large corporations plan on investing in robotics and automations for operations, especially in manufacturing, 2023. However, a mere 39% of large companies plan to make investments in IoT platforms.
  • As revealed by Rockwell Automation’s The State of Smart Manufacturing Report, more than 97% of the manufacturers are planning to purchase smart manufacturing technologies that help to mitigate risk and drive transformation of the manufacturing industry. Using a global manufacturer’s poll of 1353 respondents, Rockwell Automation.
  • To motivate the implementation of smart manufacturing, the Indian Government recently set up the PLI initiative. This program promotes local factories to automate the manufacture for expansion of their production capacity.
  • The International Federation of Robotics claims that at least one third of all robots used in manufacturing industry internationally is only employed within the automotive field.

The Smart Manufacturing Market Trend Analysis

Expansion in the perimeters of big data, Internet of Things and 5g networks.

It may be noted that big data, one of the most important applications has found mention in trend reports of emerging markets. Growing volumes create demand for big data applications where there is exponential growths of structured as well as unstructured data and information. Another similar vein, the IoT, is the main trend driving the market. The internet of Things (IoT) is made up of connected sensors, vehicles, smart devices, and others on a single platform that is supported by artificial intelligence – which produce massive amount of data each of these devices outputs. This data is processed in using solutions that draw on artificial intelligence. Such applications include smart city solutions, self-driving or autonomous vehicles, intelligent thermostats, pacemaker or heart pacemaker, and smart home. From our research perspective, it is expected that global IOT market would grow significantly at the compound annual growth rate of about 24.9 percent during the forecast period. There are so many new measurement devices that came with sensor technology upgrades and they also serve as building blocks for automatic feedback control These include electromechanical sensor, machine vision, scanning laser beams and an electric field technique. The above-mentioned trends are expected to be the driving forces of the global market over the next few years.

These technological advancements towards 5G will boost market expansion through investments into new networks.

In other words, the forthcoming 5 {th} generation (5G) is expected revolutionize the existing IoT based applications in smart manufacturing. 5G networks may drastically transform forthcoming IoT ecosystems, especially in terms of their capacity to scale up, reduced latency, higher reliability, improved security, and more individualised connectivity controls. As IoT application domains become extensive, there are new use-cases that make them inadequate as a result, leading to the need for better networks’ support. Such functionalities may include assisted sensors, improved precision on site-locating and fast movement during installation of devices. 5G technology promises to provide up-to 10 Gigabit per seconds bandwidth, single digit latency and 1 000 times more traffic Therefore, 5G is one of the key drivers of the growth in the worldwide market. Also, the emergence of 5G access radio networks is expected to play significant role in the market. In this case, manufacturing, robotics and other sectors can change what is already going on through collaborative work with telecommunication providers promoting smart manufacturing technology for fifth generation wireless technology that will increase global manufacturing GDP value of $740 billion or 2% by 2030

Segmentation Analysis of the Smart Manufacturing Market

By Component Analysis

The increasing demand for industrial 3D printing will spur the growth of smart manufacturing.

There are several market components, namely solutions and services. These solutions also involve the use of energy management systems as well as fleet management solutions. Under the solutions segment, there are the industrial 3D printing, programmable logic controller, product lifecycle management, manufacturing execution system, robotic process automation, supervisory controller, and data acquisition. During the projection period, a marked growth in the market share of this section The growing adoption of industrial 3D printing in manufacturing industries has been driven by the increased need for automated operations supported with Internet of Things (IoT). In the next century, most 3D printing will be used in the heavy manufacturing industry with other sectors such as automotive and electronics demanding a small percentage of 3D printing. It also applies in the discrete automation whereby 3D printing is used to boost the automation of production lines while at the same time allowing for personalized solutions. Regarding MES in 2021, the largest segment was worth the highest amount. That is, it guarantees optimal production process in an enterprise. The desire to improve on their efficiency both operationally and in terms of energy leads to the growth of robotic process automation, PLC and three-dimensional printing. Additionally, the advancement of the market has been supported by improvements in automation technology such as industry of the fourth generation or the industrial internet of things and growing demands of advanced hardware from automotive, electronics and packaging segments among others (SCADA, PLC, HMI, and others Secondly, under the segment of services include managed services and professional services. There will be enormous growth in the services sector over the forecast period.

By Deployment Analysis

Scalability and adaptability of the cloud to expand market.

The segmentation of the market based upon its deployment includes on-premises and cloud.

It is expected that the highest revenue will go towards the cloud segment. Scalable infrastructures based on pandemic-inspired remote workforce support their products and services. Therefore, within the forecasting period, it is expected that cloud based-software will have traction with the highest CAGR. As a result, the need for reliable, safe, flexible, and distant technological services is revealed in such transient process thus being the trend that is supposed to be persistent. This ensures that the cloud-based software is driven by these elements.

By Enterprise Size Analysis

Such organizations, major corporations undertake large scale geographic operations. Get dominance in the segment.

They are categorized into either small and medium businesses or large companies based on their scales in a market.

During the forecast period, large enterprises are expected to have the highest revenues share. It enjoys widespread presence thanks to its extensive geographical coverage. The main goal for such global corporations as Honeywell, GE Electric, Rockwell Automation, etc., is international expansion of geographic operations. To cater for many customers, these parties are integrating complex automation facilities. These competitors are using the latest technologies such as industrial IoT (IoT), Industry 4.0, together with 5G networks to develop industrial components comprising robotics and servos.The segment of small and medium-sized business is expected to grow quickly for reduced requirements for infrastructure, as well for optimized maintenance costs that are foreseen until the forecast period.

By Industry Analysis

The use of sophisticated hardware largely supports the growth taking place in the process sector.

These market sectors are broken down into discrete and process parts.

These other sectors are also mentioned which include pulp and paper, chemicals, pharmaceutical, mining and metals as well as the process industry segment of cable. Sophisticated mining equipment demand in process industry is expected to rise significantly especially among metal sector, chemicals, as well as pharmaceutical segment during the forecasting period. To illustrate, in 2020,

  • Automatic control of over seventy percent of the processes in the Mahindra & Mahindra Limited manufacturing facilities was realized through application of the enhanced automation-hardware by their major automobiles’ producers like the Mahindra & Mahindra Limited.
  • Larsen & Toubro Limited was able to convert about sixty percent of its construction commercial content by leveraging on sensory hardware and gateways.
  • The implementation of MDCplus as per Indian Railways. MDCplus is a system that gathers real-time machine monitoring and data of products made. Zyfra is a Russian and Finnish provider of digital solutions that come up with this type of system.
  • In addition is a number of other subsectors of the discrete industry segment – i.e. automotive, transportation, industrial apparatus, medical devices, semiconductor and electronics/high tech, and others of which include i.e. aerospace and defence.

There is expected growth at a higher speed in discrete industries. Industrial manufacturing, electronics, and automotive industry are major areas where demand is generated for intelligent manufacturing solutions in discrete automation. These sectors are seeking to make the production process more efficient.

Regional Analysis of the Smart Manufacturing Market

The primary regions considered based on the markets include North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America.

The smart manufacturing market of Asia-Pacific already has a healthy environment comprising many countries like Japan, Australia and India among others. These are expected to grow at an impressive speed during this period. SMEs are foreseen to catalyse the adoption of smart manufacturing. However, large companies in the narrowly specifiable industry are envisaged to create most of the revenue on the opposite side. In this regard, the regional trend towards cloud adoption is driven by the growing adoption of industry disruptive innovations such as IoT, Augmented reality, Artificial Intelligence, and Industry 4.0, As a result, the demand for these cloud-based smart manufacturing solutions may rise across many of its nations.

On account of growing spending for modern production technologies in Canada and USA, North America was declared as second biggest market. Technological advancements, the existence of different printing materials, and the reduction on the cost of the technology have made the clever manufacturing concept more relevant. Many investment programs are ongoing across the manufacturing, aerospace and defence, healthcare, engineering and automotive industries in the U.S. These areas will definitely see significant growth rates in future years. Notably, high-profile institutions such as the National Aeronautics and Space Administration (NASA) have noted tremendous investment in the 3D-printing R&D field that can result in a big leap for space application and a birth of new technology driving businesses forward.

  • As an instance, the National Aeronautics and Space Agency (NASA) awarded Made in Space, a USA engineering and manufacturing firm, US$ 73.7 million-dollar contract in July 2019 to manufacture 3D-printed components of the space

The internet of things adoption is on the rise in countries such as Germany, Italy, and Spain among others in all the subregion including Asia. Thus, all the subregion including Asia will witness continuous growth into the projection period and beyond.

Business digitization in the Middle East and Latin America has far-reaching implications, affecting employment opportunities, education, as well as the prospects for developing these economies. Countries that make up gcc lead on technology adopting, and transforming towards digitalization with other countries in the region. This is shown through the 2030 strategy and NTP 2020 of Saudi Arabia whereby it focuses heavily on digital transformation for collaboration and creating more jobs in the private sector. In the next few years, such a fast-moving economy shall offer markets like none other.

COVID-19 Impact Analysis on Smart Manufacturing Market.

Accelerating the smart manufacturing adoption amid the pandemic through government investment augmentation.

This is having a significant impact on every sector of the world’s economy during the novel coronavirus pandemic. Owing to the virus, critical breaches have occurred between manufacturers and their supply chains. In order to get over the Pandemic, organizations would be investing in modern manufacturing and supply chain design models, redesign of business continuity plans and identification of opportunities for automated processes of their production lines against the effect of Pandemic in future years. In addition, Invest India.gov says that key corporate and government organisations from all over the world put in around USD 17 billion in 2017 but it is expected that this will increase to USD 60 billion by 2021. Investments into electronics, as well as the healthcare sector in countries like Germany, Italy, UK, India, Japan, South Korea, and some other states serve as main ones.

It is also expected to produce up to three point five billion dollars in India’s manufacturing automation sector by year two thousand twenty.

Besides, many countries’ governments such as United Kingdom, Germany, India are working towards recreating GDP by investing money in various industries which will enhance the monetary flow and overcome the financial problems.

  • For instance, India.gov states that the Indian government spent approximately $265.0 million (20 lakh crore) on a “Economic Package” in May 2020. This enabled to create varied businesses across multiple industries such as agriculture, manufacturing, health care and many others. This is expected because most MSMEs and entrepreneurs will automate their manufacturing facilities so as to produce more and earn more revenue.
  • In May 2020, during the height of Covid-19 crisis, the German government allotted about $ 140 billion as per the ITUC.

Top Key Players Covered 

  1. HP Development Company, L.P. (U.S.)
  2. ABB (Switzerland)
  3. Emerson Electric Co. (U.S.)
  4. General Electric (U.S.)
  5. Honeywell International, Inc. (U.S.)
  6. Mitsubishi Electric Corporation (Japan)
  7. Robert Bosch GmbH (Germany)
  8. Rockwell Automation, Inc. (U.S.)
  9. Schneider Electric (Europe)
  10. Siemens AG (Germany)

Key Industry Developments in the Smart Manufacturing Market

  • December 2022 - Emerson to collaborate with Petronas with an objective to drive decarbonization and digital transformation as well as enhance their remote operation capabilities and further strengthen their cybersecurity.
  • September 2021 – Honeywell International, Inc. introduced robotic technology, ‘Smart Flexible Depalletizer,’ to minimize the labor-intensive work. This technology is increasing warehouse productivity and reducing labor injuries.
  • March 2021 – General Electric Company announced the launch of intuitive software applications and expert services called Connectix. The service is designed for smart manufacturing applications. The services help to take advantage of data analytics to increase energy efficiency, make faster decisions, and enhance daily operations in manufacturing.
  • January 2021 – Rockwell Automation, Inc. announced the release of its updated intelligent conveyor system called QuickStick HT. The newly launched conveyor system has been enabled with the advanced QuickStick HT 5700 inverter. The updated system has provided functional safety, and it can save the plant floor space and reduce the size of the control cabinet.
  • May 2020 – Mitsubishi Electric Corporation launched MELFA ASSISTA, a family of robots. MELFA ASSISTA operates collaboratively with humans focused on safety functions including collision avoidance. The robot also functions in full accordance with international safety parameters and robotic norms ISO 10218-1 and ISO/TS15066. Industries adopt MELFA ASSISTA and RT VisualBox to develop more effective productivity

Report Components Details
Base Year 2022
Forecast Period 2023-2030
Quantitative Units Revenue in US $
Drivers Advancement in Connectivity Technologies (5G) and Investment in New Network Infrastructure to Support Market Growth
Segments Covered By Component Solution: Industrial 3D Printing, Programmable Logic Controller (PLC), Product Lifecycle Management (PLM), Manufacturing Execution System (MES), Robotic Process Automation (RPA), Remote Monitoring software, Supervisory Controller and Data Acquisition (SCADA), Others (Energy Management Systems, Fleet Management Solutions) Services, Professional Services, Managed Services By Deployment: Cloud, On-Premises By Enterprise Size: Large Enterprises, Small & Medium Enterprises By Industry Discrete Industry, Automotive, Transportation, Industrial Machinery, Medical Devices, Semiconductor and Electronics/High-Tech, Others (Aerospace and Defense) Process Industry, Pharmaceuticals, Mining and Metals, Chemicals, Pulp and Paper, Others (Cable)
Countries Covered U.S. and Canada in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the APAC, Others include Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA), Brazil, Argentina, Mexico, and Rest of South America as part of South America
Market Players Covered HP Development Company, L.P. (U.S.), ABB (Switzerland), Emerson Electric Co. (U.S.), General Electric (U.S.), Honeywell International, Inc. (U.S.), Mitsubishi Electric Corporation (Japan), Robert Bosch GmbH (Germany), Rockwell Automation, Inc. (U.S.), Schneider Electric (Europe), Siemens AG (Germany)

Table of Contents

  1. Introduction Of Global Smart Manufacturing Market
    1. Overview of the Market
    2. Scope of Report
    3. Assumptions
  2. Executive Summary
  3. Research Methodology
    1. Data Mining
    2. Validation
    3. Primary Interviews
    4. List of Data Sources
  4. Global Smart Manufacturing Market Outlook
    1. Overview
    2. Market Dynamics
      1. Drivers
      2. Restraints
      3. Opportunities
    3. Porters Five Force Model
      1. Bargaining Power of Suppliers
      2. Threat of New Entrants
      3. Threat of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power among Buyers
    4. Value Chain Analysis
  5. Global Smart Manufacturing Market, By Component
    1. Overview
    2. Solution
      1. Industrial 3D Printing
      2. Programmable Logic Controller (PLC)
      3. Product Lifecycle Management (PLM)
      4. Manufacturing Execution System (MES)
      5. Robotic Process Automation (RPA)
      6. Remote Monitoring software
      7. Supervisory Controller and Data Acquisition (SCADA)
      8. Others (Energy Management Systems, Fleet Management Solutions)
    3. Services
      1. Professional Services
      2. Managed Services
  6. Global Smart Manufacturing Market, By Deployment
    1. Overview
    2. Cloud
    3. On-Premises
  7. Global Smart Manufacturing Market, By Enterprise Size
    1. Overview
    2. Large Enterprises
    3. Small & Medium Enterprises
  8. Global Smart Manufacturing Market, By Industry
    1. Discrete Industry
      1. Automotive
      2. Transportation
      3. Industrial Machinery
      4. Medical Devices
      5. Semiconductor and Electronics/High-Tech
      6. Others (Aerospace and Defense)
    2. Process Industry
      1. Pharmaceuticals
      2. Mining and Metals
      3. Chemicals
      4. Pulp and Paper
      5. Others (Cable)
  9. Global Smart Manufacturing Market, By Region
    1. North America
      1. U.S.
      2. Canada
    2. Europe
      1. Germany
      2. U.K.
      3. France
      4. Rest of Europe
    3. Asia Pacific
      1. China
      2. Japan
      3. India
      4. South Korea
      5. Singapore
      6. Malaysia
      7. Australia
      8. Thailand
      9. Indonesia
      10. Philippines
      11. Rest of Asia Pacific
    4. Others
      1. Saudi Arabia
      2. U.A.E.
      3. South Africa
      4. Egypt
      5. Israel
      6. Rest of Middle East and Africa (MEA)
      7. Brazil
      8. Argentina
      9. Mexico
      10. Rest of South America
  10. Company Profiles
    1. HP Development Company, L.P. (U.S.)
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    2. ABB (Switzerland)
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    3. Emerson Electric Co. (U.S.)
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    4. General Electric (U.S.)
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    5. Honeywell International, Inc. (U.S.)
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    6. Mitsubishi Electric Corporation (Japan)
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    7. Robert Bosch GmbH (Germany)
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    8. Rockwell Automation, Inc. (U.S.)
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    9. Schneider Electric (Europe)
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    10. Siemens AG (Germany)
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News

Global Smart Manufacturing Market Segmentation

Smart Manufacturing by Component: Market Size & Forecast 2024-2032

Solution

  • Industrial 3D Printing
  • Programmable Logic Controller (PLC)
  • Product Lifecycle Management (PLM)
  • Manufacturing Execution System (MES)
  • Robotic Process Automation (RPA)
  • Remote Monitoring software
  • Supervisory Controller and Data Acquisition (SCADA)
  • Others (Energy Management Systems, Fleet Management Solutions)

Services

  • Professional Services
  • Managed Services

Smart Manufacturing by Deployment: Market Size & Forecast 2024-2032

  • Cloud
  • On-Premises

Smart Manufacturing by Enterprise Size: Market Size & Forecast 2024-2032

  • Large Enterprises
  • Small & Medium Enterprises

Smart Manufacturing by Industry: Market Size & Forecast 2024-2032

Discrete Industry

  • Automotive
  • Transportation
  • Industrial Machinery
  • Medical Devices
  • Semiconductor and Electronics/High-Tech
  • Others (Aerospace and Defense)

Process Industry

  • Pharmaceuticals
  • Mining and Metals
  • Chemicals
  • Pulp and Paper

Others (Cable)

Smart Manufacturing by Geography: Market Size & Forecast 2024-2032

  • North America (USA, Canada, Mexico)
  • Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
  • Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
  • South America (Brazil, Argentina, Columbia, Rest of South America)
  • Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

Major Players:

  • HP Development Company, L.P. (U.S.)
  • ABB (Switzerland)
  • Emerson Electric Co. (U.S.)
  • General Electric (U.S.)
  • Honeywell International, Inc. (U.S.)
  • Mitsubishi Electric Corporation (Japan)
  • Robert Bosch GmbH (Germany)
  • Rockwell Automation, Inc. (U.S.)
  • Schneider Electric (Europe)
  • Siemens AG (Germany)

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