BUSINESS: Smart Manufacturing Market: Yokogawa Electric Corporation Introduces OpreX(Tm), An Environmental Monitoring System For The Medical Device Industry: Fortune Business Insights (Tm).

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Daniel Webster, dWeb.News Publisher

Pune, India, Oct. 05, 2021 (GLOBE NEWSWIRE) — The global smart manufacturing market is set to gain traction from the increasing adoption of industrial IoT and industry 4.0. These systems can reduce costs and increase production by connecting customers to warehouses and suppliers for product distribution. For instance, GSMA Intelligence mentioned in a survey that by 2025, industrial IoT connections are estimated to reach up to 13.8 billion units across the globe. This information is published by Fortune Business Insights(tm) in a report, titled, “Smart Manufacturing Market, 2021-2028.” As per the report, the market size was USD 225. 73 billion in 2020. It is projected to grow from USD 249. 46 billion in 2021 to USD 576. 21 billion in 2028 at a CAGR of 12.7% in the forecast period.

COVID-19 Pandemic: Rising Need to Reconstruct Business Models will Favor Growth

The COVID-19 pandemic has created vital gaps between supply chain and manufacturing units worldwide. Many companies are working to rebuild their business continuity models in order to deal with such a crisis. They are also looking for automation opportunities and investing large sums in new supply chain models. As per Invest, for instance, the Government of India invested USD 265 million in May 2020 as part of an ‘Economic Package.’ Such initiatives by regulatory bodies would propel the demand for smart manufacturing amid the pandemic. We can help you regain your business in this difficult time.

To get to know more about the short-term and long-term impact of COVID-19 on this Smart Manufacturing Market,

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A List of Prominent Smart Manufacturing Software Solutions Providers:

ABB Ltd. (Zurich, Switzerland)
Siemens AG (Munich, Germany)
General Electric (Massachusetts, U.S.)
Mitsubishi Electric Corporation (Tokyo, Japan)
Robert Bosch GmBH (Gerlingen, Germany)
Rockwell Automation Inc. (Wisconsin, U.S.)
Schneider Electric (Rueil-Malmaison, France)
Honeywell International Inc. (North Carolina, U.S.)
Emerson Electric Co. (Missouri, U.S.)
Fanuc Corporation (Yamanashi, Japan)
Yokogawa Electric Corporation (Tokyo, Japan)
Telefonaktiebolaget LM Ericsson (Stockholm, Sweden)

Smart Manufacturing Market Share Report Scope and segmentation:

Report Coverage
Forecast Period
2021 to 2028
Forecast Period 2021 to 2028 CAGR
2028 Value Projection
USD 576. 21 Billion
Base Year
Market Size in 2020
USD 225. 73 Billion
Historical Data for
2017 to 2019
No. of Pages
Segments covered
Component; Deployment; Enterprise Size; Industry and Geography
Growth Drivers
Investments in Intelligent Manufacturing Industry to Boost Growth in Asia Pacific
Urgent Need to Develop Robust Positions to Drive Growth

Pitfalls & Challenges

High Initial Investment in Smart Manufacturing Solutions to Impede Market Growth

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Drivers & Restraints:

Urgent Need to Develop Robust Positions to Drive Growth

The increasing demand for IoT and industry 4.0-enabled technologies is set to accelerate the smart manufacturing market growth in the upcoming years. Another growth driver is the increasing efficiency of production processes. Many emerging economies are establishing strong positions in smart manufacturing. The requirement for high capital investments could be a barrier to the Smart Manufacturing Market.

Report Coverage-

The report involves four notable activities in projecting the current size of this market. To gather data on the parent market, extensive secondary research was done. Next, we did primary research to examine these assumptions and sizing. We also met with industry experts. To calculate the market size, we used both top-down and bottom-up methods.

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Regional Insights:

Investments in Intelligent Manufacturing Industry to Boost Growth in Asia Pacific

Geographically, Asia Pacific held USD 79. 09 billion in terms of revenue in 2020. This is due to increased investments made by companies in intelligent manufacturing. Several small and medium-sized enterprises in India, Japan, Australia and Australia are also trying to invest more in smart manufacturing solutions. The rising popularity of 3D printing is expected to drive North America’s growth. Because of the availability of cheaper printing materials and the low cost of equipment, North America is expected to grow steadily.

Industrial 3D Printing Sub-Segment Generated 10.2% Share in 2020

Based on the component, the Smart Manufacturing Market is bifurcated into solutions and services. Services are further sub-segmented into managed services, professional services. The solution segment can be divided into industrial 3D printing (programmable logic controllers (PLC), product management (PLM), manufacturing execution (MES), remote monitoring software (SCADA) and supervisory controller (SCADA). Out of these, the industrial 3D printing sub-segment earned 10.2% in terms of the smart manufacturing market share in 2020. The high demand for IoT in advanced manufacturing processes is a major reason for this growth.

Quick Buy – Smart Manufacturing Market:

Table Of Content:

Definition, By Segment
Research Methodology/Approach
Data Sources

Key Takeaways
Market Dynamics
Macro and Micro Economic Indicators
Drivers, Restraints, Opportunities and Trends
Impact of COVID-19
Short-term Impact
Long-term Impact

Competition Landscape
Business Strategies Adopted by Key Players
Consolidated SWOT Analysis of Key Players
Porter’s Five Force Analysis
Global Smart Manufacturing Market Share Analysis and Matrix, 2020

Key Market Insights and Strategic Recommendations
Profiles of Key Players
Key Management
Headquarters etc.

Offerings/Business Segments
Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
Employee Size
Key Financials
Past and Current Revenue
Gross Margin
Geographical Share
Business Segment Share

Recent Developments

Annexure / Appendix
Global Smart Manufacturing Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
By Component (Value)
Industrial 3D Printing
Programmable Logic Controller (PLC)
Product Lifecycle Management (PLM)
Manufacturing Execution System (MES)
Robotic Process Automation (RPA)
Remote Monitoring software
Supervisory Controller and Data Acquisition (SCADA)
Others (Energy Management Systems, Fleet Management Solutions, etc. )

Professional Services
Managed Services

By Deployment (Value)

By Enterprise size (Value)
Small & Medium Enterprise (SMEs)
Large Enterprise

By Industry (Value)
Discrete Industry
Industrial machinery
Medical devices
Semiconductor and Electronics/High-Tech
Others (Aerospace and Defense, etc. )

Process Industry
Mining and Metals
Pulp and Paper
Others (Cable, etc. )

By Region (Value)
North America
Asia Pacific
Middle East & Africa
Latin America

TOC Continued…!

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