At 12.4% CAGR, Smart Manufacturing Market Size to hit USD 384.8 billion by 2025

 The smart manufacturing market is estimated to grow from USD 214.7 billion in 2020 to 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, the growing emphasis on regulatory compliances, increasing complexities in supply chains, and the surging demand for software systems that reduce time and cost.

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IIoT to hold largest share of smart manufacturing market, by enabling technology, throughout forecast period

IIoT enables analyzing the collected data in an effective manner with the help of various algorithms and analytics. The Internet of Things (IoT) technology has transformed the operations of various industries, including the manufacturing industry. IIoT is revolutionizing manufacturing plants by connecting a wide network of intelligent devices that would increase automation in plants. IIoT is expected to revolutionize the manufacturing industry by enabling a greater amount of data, which can be shared throughout the enterprise from the plant floor to the supply chain. IIoT provides better connectivity, efficiency, scalability, and time- and cost-saving for industries. For example, SCADA systems and IoT technology complement each other. IoT is considered to be the fourth generation of SCADA systems. Big data and analytics have led to the integration of instrumentation with SCADA data to analyze and scrutinize the data generated during production processes. Continuous advancements in industrial automation are expected to bring significant benefits to end users in terms of increased profitability and improved efficiency. Information from SCADA systems acts as a data source for IoT. SCADA focuses on monitoring and controlling, while IoT analyzes machine data to improve productivity.

Manufacturing execution systems held second-largest share of smart manufacturing market, by information technology, in 2019

Manufacturing companies are increasingly adopting advanced technologies, such as the cloud, to gain competitive advantage by accelerating their growth through improved efficiency throughout their manufacturing process. This is driving the adoption of more scalable and flexible MES solutions. Cloud technology has made significant advancements in the past few years. Cloud-based MES enables businesses to get the most from the manufacturing process, even if it is a large, multi-factory global operation or a single production line. Cloud-based MES helps integrate the operations taking place on a plant floor with the systems in the top management for effective monitoring and decision making.

Energy & power industry to hold largest size of smart manufacturing market in 2025

Technological advances in developing markets such as India, China, Brazil, and the Middle East are likely to create significant opportunities for automation in these markets. As a result, a number of smart manufacturing solution providers have targeted this industrial sector. The power industry is growing rapidly because of the globally rising demand for energy. This results in high pressure on power-manufacturing companies to deliver cheap and reliable energy. Also, it becomes necessary for power-manufacturing companies to utilize available resources efficiently, reduce maintenance costs, and further enhance plant performance. Moreover, PAM and HMI solutions help power plant owners, operators, and original equipment manufacturers (OEMs) make improved business decisions regarding the performance and operational readiness of their assets.

Smart manufacturing market in APAC to grow at highest CAGR from 2020 to 2025

The smart manufacturing market in APAC is expected to grow at the highest CAGR globally from 2020 to 2025. China is one of the fastest-growing economies in the world and a global manufacturing hub for semiconductor and automotive industries. This is leading to the increasing adoption of advanced manufacturing technologies such as HMI, MES, AI, condition monitoring, AGV, and WMS. Smart manufacturing technologies are used in these industries to enhance the overall performance of manufacturing plants and improve production output. In addition, the growing economy and technological developments in various industries encourage the application of these technologies for monitoring and controlling production processes.

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).

Don’t miss out on business opportunities in Smart Manufacturing Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Mr. Aashish Mehra
MarketsandMarkets™ INC.
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USA : 1-888-600-6441

Top Enabling Technologies in Smart Manufacturing Market

 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 and Top Enabling Technologies

IIoT

IIoT can be defined as an environment in which complex industrial systems are networked together in such a way that their data are transmitted over the Internet for remote monitoring and performance analysis. In this research study, the IIoT market has been analyzed for the following verticals—manufacturing, energy & power, oil & gas, metals & mining, transportation, healthcare, retail, transportation, and agriculture. Sensors and networking technologies are the key IIoT enablers in each of these verticals.

Industrial Machine Vision

Industrial machine vision is a combination of mechanical, optical, electronic, and software systems used to detect defects in objects, surfaces, materials, and manufacturing processes; it helps improving quality and operational efficiency in industries such as automotive, electronics and semiconductor, consumer electronics, glass, metals, wood and paper, and pharmaceuticals. This technology is used to automate production processes, increase production speed, and improve product quality. It mainly replaces manual inspections and measurements with digital cameras and advanced image processing techniques.

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Industrial Cybersecurity

Industrial cybersecurity refers to the safety and security of industrial control systems, automation processes, plant operations, and critical infrastructure against cyber intrusions. Industrial control systems such as programmable logic controllers (PLCs), distributed control systems (DCS), and supervisory control and data acquisition (SCADA) systems are primarily prone to cyberattacks. To safeguard these systems from cyberattacks, various technologies such as distributed denial of service (DDoS) protection solution, intrusion detection and prevention systems, antivirus, and products such as gateway and networking devices are used for uninterrupted productivity of utilities, grids, transportation systems, and the manufacturing sector.

Machine condition Monitoring

Machine condition monitoring is the process of determining the operational state and condition of a machine for detecting potential breakdowns with the help of automation. The process comprises periodical or continuous data collection, analyses, interpretation, and diagnoses. This approach is different from traditional methods wherein processes are manual.

Machine condition monitoring optimizes equipment readiness and reduces maintenance and staffing requirements. It is used to prevent unscheduled outages, reduce downtime and maintenance costs, and optimize machine performance. This technique is primarily classified as preventive machine monitoring and predictive machine monitoring.

Digital Twin

Digital twin technology creates virtual models of a physical asset, process, or system. Digital twins use data obtained from sensors and algorithms for making reasonable projections about future processes. Digital twin can reduce operating costs and help extend the life of equipment and assets. With the growing adoption of IoT, the concept of digital twinning is becoming prominent in the market. Product design and development, machine and equipment health monitoring, predictive maintenance, and dynamic optimization are the 4 prominent application areas of digital twins.

Smart manufacturingmarket in APAC to grow at highest CAGR from 2020 to 2025

The smart manufacturing market in APAC is expected to grow at the highest CAGR globally from 2020 to 2025. China is one of the fastest-growing economies in the world and a global manufacturing hub for semiconductor and automotive industries. This is leading to the increasing adoption of advanced manufacturing technologies such as HMI, MES, AI, condition monitoring, AGV, and WMS. Smart manufacturing technologies are used in these industries to enhance the overall performance of manufacturing plants and improve production output. In addition, the growing economy and technological developments in various industries encourage the application of these technologies for monitoring and controlling production processes.

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).

Don’t miss out on business opportunities in Smart Manufacturing Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Smart Manufacturing Market and Top Companies and Covid-19 Impact

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 and Top Companies
Emerson Electric
Emerson Electric Co. manufactures and develops process controls, systems, valves, and analytical instruments. The company offers industrial, commercial, automation, and residential solutions worldwide. It operates through 2 business segments—Automation Solutions and Commercial & Residential Solutions. The company has 220 manufacturing locations in 150 countries, primarily in Europe and Asia. Emerson Electric provides PAM solutions under its Automation Solutions segment. It serves industries such as petroleum, chemicals, food & beverages, pulp & paper, pharmaceuticals, and water & wastewater treatment. The company’s automation technologies help several organizations to improve their plant performance at a reduced cost; for example, the Plantweb Optics solution offered by the company delivers higher-level collaboration, better insights, and priority decision-making, thereby enabling substantial savings due to reduced maintenance costs.
ABB Ltd.
The ABB Group was founded in 1988 after the merger of Asea AB (Sweden) and BBC Brown Boveri AG (Switzerland). It operates mainly in areas such as robotics, power, heavy electrical equipment, and automation technology. The company has a presence in Europe, the Americas, Asia, Africa, and the Middle East. ABB mainly operates through 3 business segments—Electrification Products, Robotics and Motion, and Industrial Automation. In 2018, the company sold its Power Grids business to Hitachi (Japan) to focus more on its core businesses such as industrial automation. The Power Grids business is expected to be divested to Hitachi by 2020. Under its Industrial Automation business division, the company offers various plant asset management (PAM )solutions, including System 800xA Asset Management, Asset Master, and AssetVista, for various key industries, such as oil & gas, mining, pulp & paper, chemicals, and water & wastewater. To ensure the growth of its PAM business, the company has leveraged its unique installed base of automation products.
Rockwell Automation
Rockwell Automation, Inc. is one of the world’s largest companies providing industrial automation power, control, and information solutions. The company operates through 2 major business segments, namely, Architecture & Software and Control Products & Solutions. The Architecture & Software segment includes hardware, software, and communication components of the company's integrated control and information architecture capable of controlling customers’ industrial processes and connecting with their manufacturing enterprises. The Control Products & Solutions segment includes motor control products and industrial control products, as well as services such as asset management, technical support and repair, and predictive and preventative maintenance. Rockwell Automation offers PAM solutions and services for production and automation assets under its Control Products & Solutions business segment. PAM solutions offered by the company provide benefits such as reduced unplanned downtime, increased equipment output, and improved manufacturing flexibility.
Honeywell
Honeywell International, Inc. is a diversified technology and manufacturing company, serving customers all over the world. Founded in 1906 and headquartered in New Jersey, US, the company operates through 4 business segments—Aerospace, Performance Materials and Technologies, Honeywell Building Technologies, and Safety and Productivity Solutions. Honeywell International, Inc. offers PAM solutions under its business segment Safety and Productivity Solutions. The company also offers process-centric PAM solutions that help users in decision-making, increasing operational performance and decreasing unplanned downtime. Its asset management solutions cover all the elements of condition monitoring, reliability, and maintenance management.
Siemens
Siemens is an electronics & electrical engineering company that operates in the fields of electrification, automation, and digitalization. It operates through Digital Industries, Smart Infrastructure, Gas and Power, Mobility, Siemens Healthineers, and Siemens Gamesa Renewable Energy segments. Siemens provides automation systems, identification systems, industrial communication systems, industrial controls, industry services, manufacturing execution systems (MES), operator controls and monitoring systems, PC-based automation solutions, power supplies, PLM software, process analytics, and process control systems for industrial automation.

Special Report on 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.
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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Smart manufacturingmarket in APAC to grow at highest CAGR from 2020 to 2025
The smart manufacturing market in APAC is expected to grow at the highest CAGR globally from 2020 to 2025. China is one of the fastest-growing economies in the world and a global manufacturing hub for semiconductor and automotive industries. This is leading to the increasing adoption of advanced manufacturing technologies such as HMI, MES, AI, condition monitoring, AGV, and WMS. Smart manufacturing technologies are used in these industries to enhance the overall performance of manufacturing plants and improve production output. In addition, the growing economy and technological developments in various industries encourage the application of these technologies for monitoring and controlling production processes.
Don’t miss out on business opportunities in Smart Manufacturing Market. Speak to our analyst and gain crucial industry insights that will help your business grow.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Growing Industrial 4.0 and IIoT Driving the growth of Industrial Sensors Market

The industrial sensors market is expected to be valued at USD 16.0 billion in 2018 and is likely to reach USD 21.6 billion by 2023, at a CAGR of 6.16% during the forecast period. The growth of this market is driven by growing Industrial 4.0 and IIoT, surging wireless sensors market, and burgeoning demand for industrial robots.

Drivers:-
• Growing Industrial 4.0 and IIoT

• Increasing Industrial Wireless Sensor Market

• Rising Demand for Industrial Robots

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By sensor, level sensor segment is expected to account for largest market during forecast period

In this report, the industrial sensors market has been segmented by sensor into level, image, gas, pressure, position, force, flow, temperature, and moisture & humidity. Among all sensors, level sensors are expected to hold the largest share of the market throughout the forecast period. Level sensors occupy a huge share of the industrial sensors market as they are used in major applications such as manufacturing and process industries, semiconductor manufacturing, automotive manufacturing, and aerospace and defense manufacturing.

By type, noncontact industrial sensors expected to grow at highest CAGR during forecast period

Noncontact industrial sensors is a faster growing segment of the industrial sensors market. Increasing penetration of remote sensing and wireless sensing attributes to the growth of noncontact sensors in the market. The wireless sensors market is increasing due to factors such as increasing penetration in industrial automation applications; growing adoption of wearables in industrial facilities; emerging concepts, such as smart factory; and increasing applications in pharmaceuticals and mining industries and petroleum refineries.

APAC expected to hold largest share of industrial sensors market in 2018

APAC is expected to hold the largest share of the industrial sensors market in 2018. China and Japan are the key countries contributing to the growth of the industrial sensors market in APAC. APAC is the largest market for industrial sensors because of the presence of China in this region. China’s manufacturing output is the largest in the world. It is one of the major manufacturers of consumer electronics, automobiles, etc.

North America is expected to account for the second-largest share of the industrial sensors market throughout the forecast period. The US currently accounts for the largest share of the industrial sensors market in North America, followed by Canada and Mexico.

A few major players operating in the industrial sensors market are Rockwell Automation (US), Honeywell (US), Amphenol Corporation (US), Texas Instruments (US), Panasonic (Japan), STMicroelectronics (Switzerland), First Sensor (Germany), and Siemens (Germany).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
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USA : 1-888-600-6441

5G Infrastructure Market for industrial automation is expected to grow at the highest rate between 2020 and 2026

The report "5G Infrastructure Market by Communication Infrastructure (Small Cell, RAN, Macro Cell), Network Technology (SDN, NFV, MEC, FC), Chipset Type (ASIC, RFIC), Application (Automotive, Consumer Electronics, Retail), and Geography - Global Forecast to 2027" The 5G infrastructure market is estimated to be valued at USD 2.86 billion in 2020 and it is further projected to reach USD 41.87 billion by 2027, at a CAGR of 46.7% between 2020 and 2027. The major factors driving the growth of the 5G infrastructure market include increasing demand for mobile data services, rising importance of software implementation in communication network, growth of machine-to-machine (M2M) communication in industries, and growing demand for high speed and large network coverage.

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In terms of application, the market for industrial automation is expected to grow at the highest rate between 2020 and 2026. This growth is attributed to the growing demand for process automation in various industries such as manufacturing and process industries. To carry out various processes effectively in these industries, the flow of data and information at right time and place is crucial. With the implementation of 5G network, a strong data network, in terms of high speed with the minimal delay, can be easily achieved.

The growth of the 5G infrastructure market in North America is likely to be propelled by the growing demand for 5G-enabled consumer electronic devices such as smartphones, AR and VR devices, and tablets. Faster connectivity is the most critical requirement for these devices. In North America, the industry segment adopted the high-level automation with the implementation of advanced technologies such as machine-to-machine communication (M2M), Internet of Things (IoT), and robotics. For these technologies, high-speed data transfer rate is required to carry out the assigned tasks. In such cases, 5G-enabled data network will serve the purpose. However, companies face major technological design challenges such as power dissipation in massive multiple input and multiple output (MIMO) and inter-cell interference.

The major vendors in the 5G infrastructure market include Qualcomm (US), Intel (US), Ericsson (Sweden), Samsung (South Korea) NEC (Japan), Qorvo (US), AT&T (US), Huawei (China), MediaTek (Taiwan), Cisco (US), Cavium (US), and MACOM Technology Solutions (US).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Growth in Demand for industrial automation in manufacturing to drive the global smart manufacturing market by 2022

Smart manufacturing is a powerful disruptive force with the potential to restructure the current competitive landscape and produce a new set of market leaders. It is a combination of various technologies and solutions, which, if implemented in a manufacturing ecosystem, is termed smart manufacturing.

The smart manufacturing market is expected to be worth USD 170.78 billion by 2018 and USD 299.19 billion by 2023, growing at a CAGR of 11.9% from 2018 to 2023. Factors that drive the growth of the market include Industry 4.0, increasing use of industrial automation in manufacturing, government investments supporting industrial automation, rising emphasis on regulatory compliances, increased complexities in supply chain, and increasing demand for software systems that reduce time and cost.

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Increasing use of industrial automation in manufacturing to drive the global smart manufacturing demand by 2022

Amidst sluggish economic growth, increasing productivity and lowering manufacturing costs have become quite critical for manufacturers all over the world. On account of this, manufacturing companies are witnessing intense competition, and this trend is expected to continue during the forecast period. To better optimize resources and reduce costs, manufacturers are actively focusing on adopting industrial automation and enabling technologies.

Enterprise manufacturing intelligence (EMI) system analyzes manufacturing data collected from various sources across an organization. This information is then utilized to track performance against relevant metrics. Integration of advanced HMI solutions and connectivity technology with various industrial automation equipment has tremendously increased quality, productivity, and mobility of plant assets. Adoption of industrial automation equipment, such as industrial robots, field devices, and smart equipment, has increased significantly among manufacturers from various industries such as food & beverages, oil & gas, metal & mining, automotive, semiconductor & electronics, and aerospace & defense. Integration of solutions such as ERP, SCADA, PLM, and PLC with MES enhances efficiency of processing and gives effective output. Manufacturing execution system (MES) is capable of performing multiple activities and delivers efficiency by checking quality as well as production optimization. It tracks processes and procedures with the help of industrial automation. MES helps optimize production costs by reducing wastes, downtime, rework, and defects during manufacturing.

The popularity of cloud-based solutions is increasing rapidly as they help manufactures operate modern and advanced software without any need for separate om-premise infrastructure. Implementation of PAM software is a complex process as manufacturers deal with various production as well as automation assets that interact with each other. Cloud-based deployment offers manufacturers centralized process execution and coordination advantages in a cost-efficient package. A cloud-based WMS allows warehouse operators to track inventory more easily and ensure that necessary stock is available to fulfill customer orders. If there is any unpredicted demand for certain products, cloud computing makes it easier to respond quickly by enabling communicating with suppliers and staff to get the required stock.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441 

Machine Automation Controller Market | Key Market Players and Recent Developments - Global Forecast to 2024

According to the new market research report "Machine Automation Controller Market by Controller Type (DCS, PLC, Industrial PC), Form Factor (IP65, IP20), Industry (Oil & Gas, Energy & Power, Food & Beverages, Chemicals, Automotive), and Geography - Global Forecast to 2024", the machine automation controller market is estimated to be worth USD 33.7 billion in 2019 and is expected to reach USD 41.5 billion by 2024, at a CAGR of 4.3% during 2019–2024. The major factors fueling the growth of the machine automation controller market include rising focus on reducing overall operational cost, increasing need to drive productivity in process industry, and growing use of robots in manufacturing sector.

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"APAC to account for the largest share of machine automation controller market during the forecast period”

APAC is expected to account for the largest share of the machine automation controller market by 2019. Significant domestic demand for automated controllers has led to the establishment of manufacturing units in various industries, such as automotive, chemicals, food & beverages, and semiconductor & electronics, in APAC. However, growing labor rate, rapidly evolving manufacturing processes, and increasing operational cost have made companies operating in the region embrace automation technologies to tackle the challenges efficiently.

Key Market Players

As of 2018, Emerson (US), ABB (Switzerland), Schneider Electric (France), Siemens (Germany), Yokogawa (Japan), Advantech (Taiwan), Omron (Japan), Delta Electronics (Taiwan), Mitsubishi Electric (Japan), Rockwell Automation (US), Kollmorgen (US), Robert Bosch (Germany), Honeywell (US), Beckhoff Automation (Germany), and Kontron (Germany) were the major players in the machine automation controller market.

ABB (Switzerland) is among the leading manufacturers of machine automation controller worldwide. The company’s advanced automation solutions offer highly efficient and flexible performance which are installed in diverse industries such as water & wastewater management, oil & gas, and energy & power. ABB focuses on R&D as well as strengthens its entire product portfolio. For instance, the company invested USD 1.37 billion in R&D, which accounts for 4% of its overall revenues in FY17.

Recent Developments

• In November 2018, Emerson opened a new facility and first industrial solutions’ center in Jukjeon, South Korea. The USD 25 million facility will be used to serve Emerson’s automation solutions customers in the region. The new facility features an advanced system staging, training, and servicing capabilities.
• In August 2018, Siemens signed a contract with Bio-on (Italy), a leading player in high-quality bioplastic sector. Siemens deployed its automation and plant control and management system at Bio-on’s bio-plastic production plant in Bologna, Italy.
• In April 2018, B&R Automation, a subsidiary of ABB launched Automation PC 2200. The new PC is the company’s latest offering in its successful 2000 series of compact industrial PCs. The maintenance-free PC is available with dual or quad-core processors and can run on both Windows 10 IoT Enterprise and Linux operating system.

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Attractive Opportunities in the Factory Automation Platform as A Service (FA PaaS) Market

The Industrial Cloud Platform Market for Factory Automation is expected to be worth USD 747.1 Million by 2022, at a CAGR of 31.05% during the forecast period. The performance and characteristics of the industrial cloud platforms depend largely upon the platform and professional services offered.  Industrial cloud platforms are adopted by several process based industries due to the ease and flexibility of services offered.

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Industrial cloud platform market for factory automation has been segmented on the basis of solution into supervisory control and data acquisition (SCADA), distributed control system (DCS), manufacturing execution system (MES), human–machine interface (HMI), and product lifecycle management (PLM), among others. The market for other solutions includes manufacturing operation management (MOM) and industrial information management (IIM). Of these, the market for manufacturing execution system (MES) is expected to grow at the highest CAGR during the forecast period because manufacturers are increasingly adopting this solution owing to its ability to save costs, for facilitate operations, and deliver high performance for production assets across the supply chain.

Industrial cloud platform market for factory automation has been segmented on the basis of platform and professional services. The platform processes high volumes of data in real time and provides meaningful analytics that are essential for achieving business objectives, which is one of the major factors driving this market. The market for platform is further segmented into asset management, remote monitoring, data processing and analytics, application development and management, and security management. The market for data processing and analytics is expected to grow at the highest CAGR during the forecast period.

Industrial cloud platform market for factory automation, on the basis of professional service, has been segmented into consulting and planning; system integration; and training, support, and maintenance. The market for consulting and planning service is expected to grow at the highest CAGR during the forecast period. The growing usage of professional services to manage industrial cloud platforms is attributed to its ability to ensure the optimization of factory automation systems as it manages the consulting, support and maintenance, and integration of the entire system.

North America is the largest market for Factory Automation Platform as a Service and is expected to witness significant growth.

Major players operating in the Factory Automation Platform as a Service market include Siemens AG (Germany), General Electric Company (U.S.), Schneider Electric SE (France), Honeywell International Inc. (U.S.), Rockwell Automation, Inc. (U.S.), Telit (U.K.), Microsoft (U.S.), PTC (U.S.), Hitachi Data Systems Corporation (Japan), Advantech Co., Ltd. (Taiwan), and IBM (U.S.), among others.

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About MarketsandMarkets

 

MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. 

M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers. 

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.

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Industrial Cloud Platform Market for Factory Automation worth 747.1 Million USD by 2022

According to a new market research report "Industrial Cloud Platform Market for Factory Automation by Solution (MES, PLM), Platform (Asset Management, Data Processing and Analytics), Professional Service (System Integration, Consulting), End-User Industry, and Geography - Global Forecast to 2022", the Factory Automation Platform as a Service market is expected to grow at a CAGR of 31.05% to reach USD 747.1 Million by 2022. Factors such as increased focus on efficiency and cost of production and advancement in cloud computing technology are driving the growth of the Factory Automation Platform as a Service.

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Browse 64 market data tables and 68 figures spread through 154 pages and in-depth TOC on “Industrial Cloud Platform Market for Factory Automation - Global Forecast to 2022”

The electric power generation industry is expected to grow at a higher rate in terms of market size

The market for the electric power generation industry is expected to grow at the highest rate between 2016 and 2022 owing to the adoption of new technologies such as big data, Internet of Things (IoT), and cloud computing among others to reduce the production cost and improve the connectivity.

Distributed control system (DCS) to dominate the FA PaaS market during the forecast period

The distributed control system (DCS) held the largest market size during the forecast period because of the need to upgrade the aging installed base of DCS and the demand for expanded project and engineering services.

The market in APAC is expected to grow at the highest rate during the forecast period

Investments are being made for various technological developments in the APAC region for Factory Automation Platform as a Service, which provides several growth opportunities for the market players operating in the region. For instance, in September 2016, Microsoft (U.S.) launched Azure Services, becoming the first public cloud provider in India by establishing three data centers in Mumbai, Pune, and Chennai. These local data centers would be responsible for increasing the flexibility and scalability and reducing the time to market for partners and customers.

North America is the largest market for Factory Automation Platform as a Service and is expected to witness significant growth.

Major players operating in the Factory Automation Platform as a Service market include Siemens AG (Germany), General Electric Company (U.S.), Schneider Electric SE (France), Honeywell International Inc. (U.S.), Rockwell Automation, Inc. (U.S.), Telit (U.K.), Microsoft (U.S.), PTC (U.S.), Hitachi Data Systems Corporation (Japan), Advantech Co., Ltd. (Taiwan), and IBM (U.S.), among others.

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https://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=237673740

 

About MarketsandMarkets

 

MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. 

M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers. 

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.

Contact:
Mr. Rohan
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
1-888-600-6441
Email: sales@marketsandmarkets.com