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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Smart Manufacturing Platform Market Outlook
The global smart manufacturing platform market attained a value of around USD 7.94 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of almost 19.9% to reach a value of USD 40.71 billion by 2032.
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The global smart manufacturing platform market is being driven by the rising adoption of automation in various industries, the growing demand for simplified data to boost productivity and cut down operational costs, and the increased government support to promote industrial automation.
Properties and Applications
Smart manufacturing is a category of manufacturing that includes computer-integrated production, high levels of adaptability, incorporation of digital information technology, and more versatile technical training for the workforce.
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The global smart manufacturing platform market can be divided based on segments like information technology, enabling technology, industry, and regions.
- Information Technology:
- Human Machine Interface
- Enterprise Manufacturing Intelligence
- Plant Asset Management
- Manufacturing Execution System
- Industrial Communications
- Warehouse Management System
- Enabling Technology:
- Industrial 3D Printing
- Collaborative Robots
- Industrial IoT
- AI in Manufacturing
- Machine Condition Monitoring
- Industrial Machine Vision
- Industrial Cybersecurity
- Digital Twin
- Automated Guided Vehicle
- Blockchain In Manufacturing
- AR and VR In Manufacturing
- Industry:
- Process Industry
- Oil and Gas
- Food and Beverages
- Pharmaceuticals
- Chemicals
- Energy and Power
- Metals and Mining
- Pulp and Paper
- Others
- Discrete Industry
- Automotive
- Aerospace and Defence
- Semiconductor and Electronics
- Medical Devices
- Machine Manufacturing
- Others
- Process Industry
The EMR report looks into the regional smart manufacturing platform markets like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
Market Analysis
With the increasing demand for remote monitoring and enhanced productivity in various industries, the adoption of automation technology has increased, which is driving the growth of the smart manufacturing platform market. The increased investment and development of industrial IoT (IIoT), in combination with other technologies, is further aiding the industry growth. Smart manufacturing platforms optimise data to enhance utilisation, reduce waste, and increase profit. These platforms allow to connect, collect, and access data from anywhere and anytime through devices like desktops, laptops, tablets, or smartphones.
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The process industry segment leads the global smart manufacturing platform market, accounting for the largest share. The segment is expected to dominate the market in the forecast period as well. Further, the Asia Pacific is expected to witness the fastest growth rate over the forecast period owing to the rapidly developing emerging economies and the implementation of various strategies by the government to encourage automation in the region.
Competitive Landscape
The report presents a detailed analysis of the following key players in the global smart manufacturing platform market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Stratatys Ltd.
- 3D Systems, Inc.
- Daifuku Co., Ltd.
- Honeywell International Inc.
- Rockwell Automation, Inc.
- Siemens AG
- Others
The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Information Technology |
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| Breakup by Enabling Technology |
|
| Breakup by Industry |
|
| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global smart manufacturing platform market attained a value of nearly USD 7.94 billion.
The market is projected to grow at a CAGR of 19.9% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 40.71 billion by 2032.
The major market drivers include the growing adoption of automation in various end-use sectors, technological advancements and innovations, and the growing demand for simplified data to boost productivity and cut operational costs.
The key trends guiding the market include the introduction of favourable government initiatives to boost automation, the rising demand for remote monitoring in several end-use sectors, and increasing investments in technologies like industrial IoT (IIoT).
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Human machine interface, enterprise manufacturing intelligence, plant asset management, manufacturing execution system, industrial communications, and warehouse management system are the major information technology segments in the market.
The significant enabling technology segments considered in the market report are industrial 3D printing, collaborative robots, industrial IoT, AI in manufacturing, machine condition monitoring, industrial machine vision, industrial cybersecurity, digital twin, automated guided vehicle, blockchain in manufacturing, and AR and VR in manufacturing.
The major industries of smart manufacturing platform in the market are process industry and discrete industry.
The major players in the market are Stratatys Ltd., 3D Systems, Inc., Daifuku Co., Ltd., Honeywell International Inc., Rockwell Automation, Inc., and Siemens AG, among others.
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