Post COVID-19, the "COVID-19 Impact on Smart Manufacturing Market by Enabling Technology (Condition Monitoring, Artificial Intelligence, IIoT, Digital Twin, Industrial 3D Printing), Information Technology (WMS, MES, PAM, HMI), Industry, and Region - Global Forecast to 2025" size is estimated to grow from USD 181.3 billion in 2020 and projected to reach USD 220.4 billion by 2025, at a CAGR of 4.0%. The estimation for 2020 is down by approximately 16% as compared to pre-COVID-19 evaluations. Factors that drive the growth of the smart manufacturing market include the increasing demand for smart manufacturing products & solution propelled by COVID-19, the importance of digital twin in maintaining operations within the manufacturing ecosystem, and the emerging & expanding role of collaborative robots in healthcare and manufacturing sectors.
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The manufacturing execution systems segment is expected to witness positive growth in smart manufacturing market, by information technology
Manufacturing execution systems (MES) offer companies the ability to monitor real-time production and the other operations of manufacturing plants. This greatly reduces the need for onsite, shop floor employees, thereby abiding by the lockdown and social distancing mandates to fight COVID-19. The ease of use and the ability to monitor operation activities from a safe distance gives thrust to the use of the manufacturing execution system as part of smart manufacturing. Because of this, the market for MES is expected to register a higher market size in 2020 as compared with 2019, post-COVID-19. However, post-COVID-19, the overall growth rate is expected to decline significantly for 2020 and 2025 when compared with growth estimated before COVID-19, which was double-digit%.
Some of the companies involved in the development of smart manufacturing solutions include 3D Systems (US ), CISCO (US), General Electric (US), Honeywell (US), IBM (Europe), Mitsubishi Corporation (Japan), Schneider (Europe), Siemens (Europe), Oracle (US), SAP (Europe), Yokogawa (Japan) and Stratasys (US).
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MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
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