Smart Manufacturing Market: Global Industry Analysis, Trends, Market Size, and Forecasts up to 2024

The report on the global smart manufacturing market provides qualitative and quantitative analysis for the period from 2016 to 2024. The report predicts the global smart manufacturing market to grow with a CAGR of 14% over the forecast period from 2018-2024. The study on smart manufacturing market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and RoW for the period of 2016 to 2024.

The report on smart manufacturing market is a comprehensive study and presentation of drivers, restraints, opportunities, demand factors, market size, forecasts, and trends in the global smart manufacturing market over the period of 2016 to 2024. Moreover, the report is a collective presentation of primary and secondary research findings.

Porter's five forces model in the report provides insights into the competitive rivalry, supplier and buyer positions in the market and opportunities for the new entrants in the global smart manufacturing market over the period of 2016 to 2024. Further, the Growth Matrix gave in the report brings an insight into the investment areas that existing or new market players can consider.

Report Findings

1. Drivers

• Improved productivity and reduced cost of manufacturing
• Rising use of industrial automation in manufacturing
• Rising government involvement in supporting industrial automation
• Improvement in machine down time

2. Restraints

• Lack of standardization among equipment manufacturers and in connectivity protocols
• Constant need for up gradation of software

3. Opportunities

• Growing adoption of IoT and cloud platforms
• Developed and developing economies pursuing aggressive adoption of smart manufacturing

Research Methodology

Primary Research

Primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents, the primary respondents are approached include:

1. Key Opinion Leaders associated
2. Internal and External subject matter experts
3. Professionals and participants from the industry

Primary research respondents typically include:

1. Executives working with leading companies in the market under review
2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/country managers
5. Vice President level executives.

Secondary Research

Secondary research involves extensive exploring through the secondary sources of information available in both the public domain and paid sources. Each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources.

Secondary sources of the data typically include:

1. Company reports and publications
2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies

Segments Covered

The global smart manufacturing market is segmented on the basis of technology, component, and end-user.

The Global Smart Manufacturing Market by Technology

• Programmable Logic Controller
• Machine Execution Systems
• Discrete Control Systems
• SCADA
• Product Lifecycle Management
• Enterprise Resource Planning
• Human Machine Interface
• Plant Asset Management
• Machine Vision
• 3D Printing
• Others

The Global Smart Manufacturing Market by Component

• Hardware
• Services
• Software

The Global Smart Manufacturing Market by End-user

• Semiconductor
• Oil and Gas
• Automotive
• Food and Beverage
• Chemical and Materials
• Mining
• Aerospace and Defence
• Pharmaceutical
• Agriculture
• Others

Company Profiles

The companies covered in the report include:

• ABB Ltd
• FANUC CORPORATION
• Honeywell International Inc.
• Texas Instruments Incorporated
• Mitsubishi Electric Corporation
• Rockwell Automation, Inc.
• Yokogawa Electric Corporation
• Siemens AG
• Emerson Electric Co.
• Schneider Electric SE

What does this report deliver?

1. Comprehensive analysis of the global as well as regional markets of the smart manufacturing market.

2. Complete coverage of all the segments in the smart manufacturing market to analyze the trends, developments in the global market and forecast of market size up to 2024.

3. Comprehensive analysis of the companies operating in the global smart manufacturing market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.

4. Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.