Smart Manufacturing Market size was valued at US$ 299.70 Bn. in 2022 and the total Smart Manufacturingrevenue is expected to grow at 13.7 % from 2023 to 2029, reaching nearly US$ 736.22 Bn.

Smart Manufacturing Market Overview:

This study categorises the Smart Manufacturing market in order to anticipate revenues and analyse trends in each of the sub-markets listed below.

The Competition Strategic Window investigates the competition landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their strengths and future growth possibilities.

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Smart Manufacturing Market Scope:

The Smart Manufacturing Industry research provides readers with a more in-depth insight of the market and competitive landscape, helping them to make better decisions on market growth and expansion. The study includes a participant summary, revenue figures, capital investment, and worldwide Smart Manufacturing market growth rates.

Smart Manufacturing Market Segmentation:

Through Industry Due to changing customer preferences and inefficiencies in traditional processes, the automotive industry segment is projected to grow at a compound annual growth rate (CAGR) of xxx% over the course of the forecast period.Technology developments, evolving consumer expectations, and the enactment of laws pertaining to the automotive industry are all contributing factors to the growing complexity of the automotive manufacturing industry. Modern, highly technologically advanced accessories are automobiles. They need to be produced utilizing cutting-edge technological methods and procedures. The automotive industry undergoes infrastructural changes as a result of technological advancements like gas and electric vehicles. In addition, the majority of the industry's critical processes are now operated by machines and equipment instead of humans, which leads to the adoption of smart manufacturing technologies.

According to Component Segment, during the forecast period, the software segment is anticipated to grow at a CAGR of xx%. Because software is essential to full automation, it serves as the backbone of the industry. Error risk is reduced when advanced software helps operate AI, drones, and other technologies without human intervention. With the aid of software, the market may see notable advancements in research and development for fresher, more adaptable solutions.

The hardware market is anticipated to expand at a compound annual growth rate (CAGR) of x. The cutting-edge technology needs compatible, high-level hardware to function. The execution of complex software requires modern hardware.

Because of the industry's need for smart manufacturing solutions, the discrete industry is predicted to expand quickly. Discrete manufacturing is a fast-moving sector because manufacturers are expanding the level of automation made possible by artificial intelligence (AI), machine learning, real-time data analytics, and high-speed computing in the cloud and at the edge. These and other contemporary technologies link the digital and physical realms through IIoT. At the heart of the Fourth Industrial Revolution, or Industry 4.0, the Internet of Things (IoT) enables a wide range of sophisticated industrial operations, starting with data gathering and processing at the edge. Furthermore, the product industry is anticipated to expand due to the growing demand for superior hardware in industries like mining and metals, chemicals, and pharmaceuticals.

1 Global Smart Manufacturing Market, by Component (2022-2029)
• Hardware
• Software
• Solution
o Industrial 3D Printing
o Programmable Logic Controller (PLC)
o Product Lifecycle Management (PLM)
o Manufacturing Execution System (MES)
o Robotic Process Automation (RPA)
o Remote Monitoring software
o Supervisory Controller and Data Acquisition (SCADA)
o Others (Energy Management Systems, Fleet Management Solutions, etc.)
• Services
o Professional Services
o Managed Services
2 Global Smart Manufacturing Market, by Enterprises Size (2022-2029)
• Large Enterprises
• Small & Medium Enterprises
3 Global Smart Manufacturing Market, by Deployment (2022-2029)
• Cloud
• On-premises
4 Global Smart Manufacturing Market, by Industry (2022-2029)
• Process Industry
o Oil & Gas
o Food & Beverages
o Pharmaceuticals
o Chemicals
o Energy & Power
o Metals & Mining
o Pulp & Paper
o Others
• Discrete Industry
o Automotive
o Aerospace & Defense
o Semiconductor & Electronics
o Medical Devices
o Machine Manufacturing
o Others
o Mining
o Construction
o Oil & Gas
o Others
5 Global Smart Manufacturing Market, by Enabling Technology (2022-2029)
• Industrial 3D Printing
• AI in Manufacturing
• Industrial Cyber security
• Industrial Machine Vision
• Industrial Sensors
• Digital Twins
• Robots
• Automated Guided Vehicles
• Machine Condition Monitoring
• Artificial Reality & Virtual Reality
• 5G Industrial IoT

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Smart Manufacturing Market Key Players: The key players are

1. Schneider Electric SE
2. ABB Ltd.
3. Cognex Corporation
4. Siemens AG
5. Emerson Electric Co.
6. Cisco Systems, Inc.
7. PTC, Inc.
8. Amazon Web Services, Inc.
9. SAP SE
10. Robert Bosch
11. IBM
12. Honeywell International Inc.
13. Rockwell Automation
14. General Electric
15. Hitachi
16. Plex

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Smart Manufacturing Market Regional Analysis:

The Smart Manufacturing market prediction research is created after a thorough examination of many geographical areas, including Asia-Pacific, Europe, North America, and the rest of the globe. North America has the greatest power over the Smart Manufacturing market share and will continue to be a major shareholder in the global Smart Manufacturing market.

COVID-19 Impact Analysis on Smart Manufacturing Market: The COVID-19 impact on the Smart Manufacturing market is also included in the report

Key Questions Answered in the Smart Manufacturing Market Report are:

• What will be the CAGR of the Smart Manufacturing market during the forecast period?
• Which segment emerged as the leading segment in the Smart Manufacturing market?
• Which are the prominent players in the Smart Manufacturing market?

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