What are the impact of COVID-19 on the smart manufacturing market and its segments?

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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COVID-19 Impact on Smart Manufacturing Market by Information Technology:

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

COVID-19 Impact on Smart Manufacturing Market by Enabling Technology:

• Industrial 3D printing
• Collaborative robot
• IIOT
• AI in manufacturing
• Machine condition monitoring
• Industrial machine vision
• Industrial cybersecurity
• Digital twin
• Automated guided vehicle

COVID-19 Impact on Smart Manufacturing Market 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)

The aviation industry is expected to be most impacted by the COVID-19 in smart manufacturing market in 2020

The global aviation industry is way ahead in terms of the adoption of smart manufacturing solutions than any other sector. Some of the important smart manufacturing solutions adopted in this industry for developing aircraft components include software simulators, remote monitoring solutions, virtual reality solutions, and AI-based supply chain management systems. However, due to the rapid spread of COVID-19, companies such as Boeing, Airbus, Bombardier, and Embraer have either stopped or reduced aircraft production. This has created an adverse impact on the demand for smart manufacturing solutions used in the aviation industry. The aerospace & defense sector is expected to witness negative Y-o-Y growth for 2020 owing to the supply chain disruptions and restriction on travel caused by lockdowns in several countries across the world.

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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