This detailed market study covers smart manufacturing market growth opportunities and competitive scenarios, which can assist the stakeholders in understanding market trends and prospects in the smart manufacturing market. The market report focuses on data from a combination of primary and secondary sources and analyses the information using numerous tools. The research report also offers a detailed analysis of each segment in the smart manufacturing market and evaluates the impact of the COVID-19 outbreak on the industry.

Smart Manufacturing Market Competitive Rivalry

The market report includes an analysis of the competitive landscape present in the industry. It consists of an assessment of the existing and ongoing trends that players can invest in. The notable players in the smart manufacturing market are Mitsubishi Corporation, Rockwell Automation, Inc, Schneider Electric, Cisco Systems, Inc, General Electric Company, Honeywell International Inc, Emerson Electric Co, ABB Ltd, IBM Corporation, and Oracle Corporation, among others.

Smart Manufacturing Market Drivers

The increasing emphasis on regulatory compliances, accelerating demand for software systems that reduce time and cost, rising adoption of industry 4.0, and the growing focus on industrial automation in the manufacturing process are the key drivers contributing to the growth of the smart manufacturing market size. In the era of automation, rapid advancements in AI, robotics, and IoT are allowing machines to outperform humans in numerous work activities, including cognitive capabilities. Though manufacturing is one of the most highly automated work processes, there is still a scope of significant automation within manufacturing sites of multiple industries. In a connected enterprise, various manufacturers have perfect visibility into bottlenecks, machine performance, and other operational efficiencies. With the data, the enterprises can improve yield, reduce waste, and enhance quality.

The smart manufacturing can decrease the workforce challenges, provides significant cost reductions, predictive maintenance, and streamline the automated data. Thus, the increasing adoption of automation in manufacturing processes is the smart manufacturing market trend and is projected to surge the growth of the smart manufacturing market size. On the other edge, with continuous innovation and debugging in software, there is a requirement for constant upgrades in software, which is likely to restrain the growth of the market.

Smart Manufacturing Market Segmentation

The chapter of segmentation provides the readers with an overview of the smart manufacturing market, such as its products, applications, and other relevant factors of the industry. Understanding the market segments helps in identifying the importance of different factors that surges market growth over the forecast period (2020-2027).

Segment by Information Technology:

Human-Machine Interface
o   Offering

Software
Hardware
o   Configuration Type

Enterprise Manufacturing Intelligence
o   Offering

o   Deployment Type

Plant Asset Management
o   Offering

o   Deployment

o   Asset Type

Manufacturing Execution System
o   Deployment Type

o   Offering

Industrial Communication
o   Offering

Component
Software
Services
o   Communication Protocol

Warehouse Management System
o   Offering

o   Implementation Type

o   Tiber Type

Segment by Enabling Technology:

Industrial 3D printing
o   Offering

Printers
Materials
Software
Services
o   Application

o   Process

o   Technology

Collaborative robot
o   Payload Capacity

o   Application

IIOT
o   Device & Technology

o   Software

AI in manufacturing
o   Offering

Hardware
Software
Technology
o   Application

Machine condition monitoring
o   Monitoring Technique

o   Offering

Hardware
Software
o   Deployment

Industrial machine vision
o   Component

Hardware
Software
o   Product

o   Application

Industrial cybersecurity
o   Type

o   Product

o   Solution & Service

Digital twin
Automated guided vehicle
o   Type

o   Navigation Technology

o   Application

Blockchain in manufacturing
o   Application

AR and VR in manufacturing
o   Technology

Augmented reality
Virtual reality
o   Offering

Hardware
Software
Segment by Industry:

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

Segment by Region:

North America
o   United States of America

o   Canada

Asia Pacific
o   China

o   Japan

o   India

o   Rest of APAC

Europe
o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

RoW
o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

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