Smart Manufacturing Market By Industry and Geographic Analysis

The report "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", is expected to be worth USD 214.7 billion in 2020 and USD 384.8 billion by 2025, growing at a CAGR of 12.4% from 2020 to 2025. Factors that drive the growth of the market include the growing adoption of Industry 4.0, rising emphasis on industrial automation in manufacturing processes, increasing government involvement in supporting industrial automation, rising emphasis on regulatory compliances, increasing complexities in the supply chain, and surging demand for software systems that reduce time and cost.

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Smart manufacturing market in APAC to grow at highest CAGR during forecast period

The smart manufacturing market in APAC is expected to grow at the highest CAGR globally from 2020 to 2025. The economy in the APAC region is the world’s one of the fastest evolving due to increased spending on improving performance, security, and economic stability. The region is witnessing a surge in the deployment of smart manufacturing technologies. China, being one of the top manufacturing countries, has been adopting enabling technologies to increase operational efficiency and production in the country. Due to increasing maintenance costs in manufacturing, manufacturing, and energy & utilities industries have been genuinely considering the adoption of advanced technologies, such as predictive maintenance, to optimize maintenance processes and reduce operational costs.

By Industry

• Process Industry
  • Oil & Gas
  • Food & Beverages
  • Pharmaceuticals
  • Chemicals
  • Energy & Power
  • Metals & Mining
  • Pulp & Paper
  • Others
• Discrete Industry
  • Automotive
  • Aerospace & Defense
  • Semiconductor & electronics
  • Medical Devices
  • Machine Manufacturing
  • Others

Geographic Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Rest of Europe
• Asia Pacific (APAC)
  • China
  • Japan
  • India
  • Rest of APAC
• Rest of the World (RoW)
  • South America
  • Middle East
  •  Africa

A few other 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).

COVID-19 Impact on Smart Manufacturing Market

Post COVID-19, the global smart manufacturing market 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 ~16% as compared to pre-COVID-19 evaluation.

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