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 2023

[291 Pages] 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 are the key factors driving the growth of the smart manufacturing market. The smart manufacturing market was valued at USD 153.25 billion in 2017 and is expected to reach USD 299.19 billion by 2023, at a CAGR of 11.9% from 2018 to 2023. The base year considered for the study is 2017 and the forecast period is from 2018 to 2023. The report provides detailed information regarding the major factors influencing the growth of the smart manufacturing market.

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.

To know about the assumptions considered for the study, download the pdf brochure

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. 

• 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
• Increasing demand for software systems that reduce time and cost

Restraints

• High investment and cost involved in implementation
• Lack of standardization among equipment manufacturers and in connectivity protocols
• Constant need for upgrading software
• Low adoption of technologies owing to technical issues

Opportunities

• Rising adoption of IoT and cloud platforms
• Integration of different solutions to provide improved performance
• Industrial growth in emerging economies

Challenges

• Threats related to cybersecurity
• Complexity in implementing smart manufacturing systems
• Lack of awareness about benefits of adopting information and enabling technologies
• Lack of skilled workforce

The objectives of the report are as follows:

• To define, describe, segment, and forecast the smart manufacturing market, in terms of value, based on information technology, enabling technology, industry, and geography
• To forecast the market size, in terms of value, for the aforementioned segments with respect to 4 regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
• To provide detailed information regarding the factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
• To analyze opportunities for stakeholders in the smart manufacturing market by identifying its high-growth segments
• To strategically analyze micromarkets with respect to individual growth trends, prospects, and contribution to the overall market
• To strategically profile key players and comprehensively analyze their market shares and core competencies along with detailing the competitive leadership and analyzing growth strategies such as product launches and developments, expansions, acquisitions, agreements, mergers, joint ventures, and partnerships of leading players

Research Methodology

This research study involves the use of secondary sources, such as encyclopedias, directories, and databases (OneSource and Factiva), to identify and collect information useful for the extensive technical, market-oriented, and commercial study of the smart manufacturing market. Primary sources such as experts from related industries and suppliers have been interviewed to obtain and verify critical information, as well as assess prospects. Key players in the smart manufacturing market have been identified through secondary research, and their market rankings have been determined through primary and secondary research. This research includes the study of annual reports of top market players and interviews with key opinion leaders, such as CEOs, directors, and marketing personnel.

The following figure shows the breakdown of primaries based on company type, designation, and region.

*Others include sales managers, marketing managers, and product managers.

Market Ecosystem:

As of 2017, 3D Systems (US), ABB (Switzerland), Cisco (US), Cognex (US), Daifuku (Japan), Emerson (US), GE (US), Honeywell (US), IBM (US), JBT (US), Keyence (Japan), NVIDIA (US), Oracle (US), Rockwell (US), SAP (Germany), Schneider (France), Siemens (Germany), Stratasys (US), Universal Robots A/S (Denmark), and Yokogawa (Japan) were the major players in the smart manufacturing market. Other players in the smart manufacturing market include Samsung (South Korea), Sony (Japan), Google (US), Intel (US), and PTC (US).

Critical questions
•           How do enabling technology developers position themselves in this competitive market?
•           Which major industries adopt the maximum number of information and enabling technologies?
•           What are the growth prospects of this market in different regions?

Key Target Audience

• Government and research organizations
• End users of information and enabling technology
• Providers of information and enabling technology
• Research organizations and consulting companies
• Technology investors
• Technology standard organizations, forums, alliances, and associations
• System integrators

 “This study answers several questions for stakeholders, primarily which market segments to focus on in the next 2 to 5 years for prioritizing efforts and investments.”

Scope of the Report

This research report categorizes the smart manufacturing market based on information technology, enabling technology, industry, and geography.

Smart Manufacturing Market, by Information Technology:

• Human Machine Interface
• Enterprise Manufacturing Intelligence
• Plant Asset Management
• Manufacturing Execution System
• Warehouse Management System
• Industrial Communications              

Smart Manufacturing Market, by 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

Smart Manufacturing Market, by Industry:

• Process Industry
  • Oil & Gas
  • Food & Beverages
  • Pharmaceuticals
  • Chemicals
  • Energy & Power
  • Metals & Mining
  • Pulp & Paper
  • Others
• Discrete Industry
  • Automotive
  •  Aerospace & Defense
  •  Semiconductor & Electronics
  •  Medical Devices
  •  Machine Manufacturing
  •  Others

Smart Manufacturing Market, by Geography:

• North America (US, Canada, and Mexico)
• Europe (UK, Germany, France, and Rest of Europe)
• Asia Pacific (China, Japan, India, and Rest of APAC)
• Rest of the World (South America, Middle East, and Africa)

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information:

Detailed analysis and profiling of additional market players (up to 5)

Table Of Contents 
 
1 Introduction (Page No. - 21)
  1.1 Objectives Of The Study
  1.2 Definition
  1.3 Scope Of The Study
      1.3.1 Markets Covered
      1.3.2 Years Considered For The Study
  1.4 Currency
  1.5 Limitations
  1.6 Stakeholders

2 Research Methodology (Page No. - 24)
  2.1 Research Data
      2.1.1 Secondary & Primary Research
      2.1.2 Secondary Data
            2.1.2.1 Major Secondary Sources
            2.1.2.2 Secondary Sources
      2.1.3 Primary Data
            2.1.3.1 Primary Interviews With Experts
            2.1.3.2 Key Data From Primary Sources
            2.1.3.3 Key Industry Insights
            2.1.3.4 Breakdown Of Primaries
  2.2 Market Size Estimation
      2.2.1 Bottom-Up Approach
            2.2.1.1 Approach For Arriving At Market Share By Bottom-Up Analysis (Demand Side)
      2.2.2 Top-Down Approach
            2.2.2.1 Approach For Capturing Market Share By Top-Down Analysis (Supply Side) 29
  2.3 Market Breakdown & Data Triangulation
  2.4 Research Assumptions

3 Executive Summary (Page No. - 33)

4 Premium Insights (Page No. - 37) 
  4.1 Attractive Growth Opportunities In Smart Manufacturing Market
  4.2 Smart Manufacturing Market, By Enabling Technology
  4.3 Smart Manufacturing Market, By Process Industry
  4.4 Smart Manufacturing Market, By Discrete Industry
  4.5 Smart Manufacturing Market In Apac, By Information Technology And Country
  4.6 Smart Manufacturing Market, By Geography

5 Market Overview (Page No. - 43)
  5.1 Introduction
  5.2 Market Dynamics
      5.2.1 Drivers
      5.2.1.1 Industry 4.0
              5.2.1.2 Increasing Use Of Industrial Automation In Manufacturing
              5.2.1.3 Increased Government Involvement In Supporting Industrial Automation
              5.2.1.4 Rising Emphasis On Regulatory Compliances
              5.2.1.5 Increased Complexities In Supply Chains
              5.2.1.6 Increasing Demand For Software Systems That Reduces Time And Cost
      5.2.2 Restraints
            5.2.2.1 High Investment And Cost Involved In Implementation
            5.2.2.2 Lack Of Standardization Among Equipment Manufacturers And In Connectivity Protocols
            5.2.2.3 Constant Need For Upgradation Of Software
            5.2.2.4 Low Adoption Of Technologies Owing To Technical Issues
     5.2.3 Opportunities
           5.2.3.1 Rising Adoption Of Iot And Cloud Platforms
           5.2.3.2 Integration Of Different Solutions To Provide Improved Performance
           5.2.3.3 Industrial Growth In Emerging Economies
    5.2.4 Challenges
          5.2.4.1 Threats Related To Cybersecurity
          5.2.4.2 Complexity In Implementation Of Smart Manufacturing Technology Systems
          5.2.4.3 Lack Of Awareness About Benefits Of Adopting Information And Enabling Technologies
          5.2.4.4 Lack Of Skilled Workforce

6 Smart Manufacturing Market, By Information Technology (Page No. - 57)
  6.1 Introduction
  6.2 Human Machine Interface
      6.2.1 By Offering
            6.2.1.1 Software
            6.2.1.2 Hardware
     6.2.2 By Configuration Type
  6.3 Enterprise Manufacturing Intelligence
      6.3.1 By Offering
      6.3.2 By Deployment Type 
  6.4 Plant Asset Management
      6.4.1 By Offering
      6.4.2 By Deployment
      6.4.3 By Asset Type
  6.5 Manufacturing Execution System  
      6.5.1 By Deployment Type
      6.5.2 By Offering
  6.6 Industrial Communications
      6.6.1 By Offering
            6.6.1.1 Component
            6.6.1.2 Software
            6.6.1.3 Services
      6.6.2 Communications Protocol
  6.7 Warehouse Management System
      6.7.1 By Offering
      6.7.2 By Implementation Type
      6.7.3 By Tier Type

7 Smart Manufacturing Market, By Enabling Technology (Page No. - 82)
  7.1 Introduction
  7.2 Industrial 3d Printing
      7.2.1 By Offering
            7.2.1.1 Printers
            7.2.1.2 Materials
            7.2.1.3 Software
            7.2.1.4 Services
      7.2.2 By Application
      7.2.3 By Process
      7.2.4 By Technology
  7.3 Collaborative Robots
      7.3.1 By Payload Capacity
      7.3.2 By Application
  7.4 Iiot
      7.4.1 By Technology
      7.4.2 By Software
  7.5 AI In Manufacturing
      7.5.1 By Offering
            7.5.1.1 Hardware
            7.5.1.2 Software
      7.5.2 By Technology
      7.5.3 By Application
 
  7.6 Machine Condition Monitoring
      7.6.1 By Monitoring Technique
      7.6.2 By Offering
            7.6.2.1 Hardware
            7.6.2.2 Software
      7.6.3 By Deployment Type
  7.7 Industrial Machine Vision
      7.7.1 By Component
            7.7.1.1 Hardware
            7.7.1.2 Software
      7.7.2 By Product
      7.7.3 By Application
  7.8 Industrial Cybersecurity
      7.8.1 By Type
      7.8.2 By Product
      7.8.3 By Solution And Service
  7.9 Digital Twin
  7.10 Automated Guided Vehicle
       7.10.1 By Type
       7.10.2 By Navigation Technology
       7.10.3 By Application
       7.10.4 By Battery Type
  7.11 Blockchain In Manufacturing
       7.11.1 By Application
  7.12 Ar And Vr In Manufacturing
       7.12.1 By Technology
              7.12.1.1 Augmented Reality Technology
              7.12.1.2 Virtual Reality Technology
       7.12.2 By Offering
              7.12.2.1 Hardware
              7.12.2.2 Software
       7.12.3 By Device Type

8 Smart Manufacturing Market, By Industry (Page No. - 129)
  8.1 Introduction
  8.2 Process Industry
      8.2.1 Oil & Gas
      8.2.2 Food & Beverages
      8.2.3 Pharmaceuticals
      8.2.4 Chemicals
      8.2.5 Energy & Power
      8.2.6 Metals & Mining
      8.2.7 Pulp & Paper
      8.2.8 Others
  8.3 Discrete Industry
      8.3.1 Automotive
      8.3.2 Aerospace & Defense
      8.3.3 Semiconductor & Electronics
      8.3.4 Medical Devices
      8.3.5 Machine Manufacturing
      8.3.6 Others

9 Geographic Analysis (Page No. - 154)
  9.1 Introduction
  9.2 North America
      9.2.1 Us
      9.2.2 Canada
      9.2.3 Mexico
  9.3 Europe
      9.3.1 Uk
      9.3.2 Germany
      9.3.3 France
      9.3.4 Rest Of Europe
  9.4 Apac
      9.4.1 China
      9.4.2 Japan
      9.4.3 India
      9.4.4 Rest Of Apac
  9.5 Row
      9.5.1 South America
      9.5.2 Middle East
      9.5.3 Africa

10 Competitive Landscape (Page No. - 179)
  10.1 Overview
  10.2 Market Ranking Analysis: Smart Manufacturing Market
  10.3 Competitive Situation & Trends
      10.3.1 Agreements, Mergers, Joint Ventures, And Partnerships
      10.3.2 Product Launches & Developments
      10.3.3 Expansions
      10.3.4 Acquisitions
 
 
11 Company Profiles (Business Overview, Products And Services Offered, Recent Developments, Swot Analysis, And Mnm View)* (Page No. - 190)
   11.1 Key Players
        11.1.1 Stratatys
        11.1.2 3d Systems
        11.1.3 Daifuku
        11.1.4 Jbt
        11.1.5 Cisco
        11.1.6 Ibm
        11.1.7 Honeywell
        11.1.8 Abb
        11.1.9 Rockwell
        11.1.10 GE
        11.1.11 Schneider
        11.1.12 Siemens
        11.1.13 Emerson
        11.1.14 Oracle
        11.1.15 SAP
        11.1.16 Yokogawa
   11.2 Other Key Players
        11.2.1 Cognex
        11.2.2 Google
        11.2.3 Intel
        11.2.4 Keyence
        11.2.5 Nvidia
        11.2.6 Ptc
        11.2.7 Samsung
        11.2.8 Sony
        11.2.9 Universal Robots

12 Appendix (Page No. - 284)
   12.1 Insights Of Industry Experts
   12.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
   12.3 Available Customizations
   12.4 Related Reports
   12.5 Author Details
 
 
List Of Tables (70 Tables) 
 
Table 1 Smart Manufacturing Market, By Information Technology, 2015–2023 (Usd Billion) 
Table 2 Smart Manufacturing Market For Information Technology, By Region, 2015–2023 (Usd Billion)
Table 3 Smart Manufacturing Market For Information Technology, By Process Industry, 2015–2023 (Usd Billion)
Table 4 Smart Manufacturing Market For Information Technology, By Discrete Industry, 2015–2023 (Usd Billion) 
Table 5 Information Technology Market For Hmi, By Region, 2015–2023 (Usd Billion) 
Table 6 Information Technology Market For Hmi, By Process Industry,2015–2023 (Usd Million) 
Table 7 Information Technology Market For Hmi, By Discrete Industry, 2015–2023 (Usd Million) 
Table 8 Information Technology Market For Emi, By Region, 2015–2023 (Usd Billion) 
Table 9 Information Technology Market For Emi, By Process Industry, 2015–2023 (Usd Million) 
Table 10 Information Technology Market For Emi, By Discrete Industry, 2015–2023 (Usd Million) 
Table 11 Information Technology Market For Pam, By Region, 2015–2023 (Usd Billion) 
Table 12 Information Technology Market For Pam, By Process Industry, 2015–2023 (Usd Million) 
Table 13 Information Technology Market For Pam, By Discrete Industry,2015–2023 (Usd Million) 
Table 14 Information Technology Market For Mes, By Region, 2015–2023 (Usd Billion) 
Table 15 Information Technology Market For Mes, By Process Industry,2015–2023 (Usd Million) 
Table 16 Information Technology Market For Mes, By Discrete Industry, 2015–2023 (Usd Billion) 
Table 17 Information Technology Market For Industrial Communications, By Region, 2015–2023 (Usd Billion) 
Table 18 Information Technology Market For Industrial Communications, By Process Industry, 2015–2023 (Usd Billion) 
Table 19 Information Technology Market For Industrial Communications, By Discrete Industry, 2015–2023 (Usd Billion) 
Table 20 Information Technology Market For Wms, By Region, 2015–2023 (Usd Billion) 
Table 21 Information Technology Market For Wms, By Process Industry, 2015–2023 (Usd Million) 
Table 22 Information Technology Market For Wms, By Discrete Industry, 2015–2023 (Usd Million) 
Table 23 Smart Manufacturing Market, By Enabling Technology, 2015–2023 (Usd Billion) 
Table 24 Smart Manufacturing Market For Enabling Technology, By Region, 2015–2023 (Usd Billion)
Table 25 Smart Manufacturing Market For Enabling Technology, By Process Industry, 2015–2023 (Usd Billion)
Table 26 Smart Manufacturing Market For Enabling Technology, By Discrete Industry, 2015–2023 (Usd Billion)
Table 27 Enabling Technology Market For Industrial 3d Printing, By Region, 2015–2023 (Usd Million)
Table 28 Enabling Technology Market For Industrial 3d Printing, By Process Industry, 2015–2023 (Usd Million)
Table 29 Enabling Technology Market For Industrial 3d Printing, By Discrete Industry, 2015–2023 (Usd Million)
Table 30 Enabling Technology Market For Collaborative Robots, By Region, 2015–2023 (Usd Million)
Table 31 Enabling Technology Market For Collaborative Robots, By Process Industry, 2015–2023 (Usd Million)
Table 32 Enabling Technology Market For Collaborative Robots, By Discrete Industry, 2015–2023 (Usd Million)
Table 33 Enabling Technology Market For Iiot, By Region, 2015–2023 (Usd Billion) 
Table 34 Enabling Technology Market For Iiot, By Process Industry, 2015–2023 (Usd Billion) 
Table 35 Enabling Technology Market For Iiot, By Discrete Industry, 2015–2023 (Usd Billion) 
Table 36 Enabling Technology Market For Ai In Manufacturing, By Region, 2015–2023 (Usd Million) 
Table 37 Enabling Technology Market For Ai In Manufacturing, By Process Industry, 2015–2023 (Usd Million)
Table 38 Enabling Technology Market For Ai In Manufacturing, By Discrete Industry, 2015–2023 (Usd Million)
Table 39 Enabling Technology Market For Machine Condition Monitoring, By Region, 2015–2023 (Usd Million) 
Table 40 Enabling Technology Market For Machine Condition Monitoring, By Process Industry, 2015–2023 (Usd Million) 
Table 41 Enabling Technology Market For Machine Condition Monitoring, By Discrete Industry, 2015–2023 (Usd Million) 
Table 42 Enabling Technology Market For Industrial Machine Vision, By Region, 2015–2023 (Usd Billion)
Table 43 Enabling Technology Market For Industrial Machine Vision, By Process Industry, 2015–2023 (Usd Billion)
Table 44 Enabling Technology Market For Industrial Machine Vision, By Discrete Industry, 2015–2023 (Usd Million) 
Table 45 Enabling Technology Market For Industrial Cybersecurity, By Region, 2015–2023 (Usd Billion)
Table 46 Enabling Technology Market For Industrial Cybersecurity, By Process Industry, 2015–2023 (Usd Billion)
Table 47 Enabling Technology Market For Digital Twin, By Region, 2016–2023 (Usd Billion) 
Table 48 Enabling Technology Market For Digital Twin, By Process Industry, 2016–2023 (Usd Million)
Table 49 Enabling Technology Market For Digital Twin, By Discrete Industry, 2016–2023 (Usd Million)
Table 50 Enabling Technology Market For Agv, By Region, 2015–2023 (Usd Million) 
Table 51 Enabling Technology Market For Agv, By Process Industry, 2015–2023 (Usd Million) 
Table 52 Enabling Technology Market For Agv, By Discrete Industry, 2015–2023 (Usd Million) 
Table 53 Enabling Technology Market For Blockchain In Manufacturing, By Region, 2020–2025 (Usd Million) 
Table 54 Enabling Technology Market For Blockchain In Manufacturing, By Process Industry, 2020–2025 (Usd Million) 
Table 55 Enabling Technology Market For Blockchain In Manufacturing, By Discrete Industry, 2020–2025 (Usd Million) 
Table 56 Enabling Technology Market For Ar & Vr In Manufacturing, By Region, 2015–2023 (Usd Billion)
Table 57 Enabling Technology Market For Ar & Vr In Manufacturing, By Process Industry, 2015–2023 (Usd Million)
Table 58 Enabling Technology Market For Ar & Vr In Manufacturing, By Discrete Industry, 2015–2023 (Usd Million)
Table 59 Smart Manufacturing Market, By Process Industry, 2015–2023 (Usd Billion) 
Table 60 Smart Manufacturing Market For Process Industry, By Information Technology, 2015–2023 (Usd Billion)
Table 61 Smart Manufacturing Market For Process Industry, By Enabling Technology, 2015–2023 (Usd Billion)
Table 62 Smart Manufacturing Market, By Discrete Industry, 2015–2023 (Usd Billion) 
Table 63 Smart Manufacturing Market For Discrete Industry, By Information Technology, 2015–2023 (Usd Billion)
Table 64 Smart Manufacturing Market For Discrete Industry, By Enabling Technology, 2015–2023 (Usd Million)
Table 65 Smart Manufacturing Market, By Region, 2015–2023 (Usd Billion)
Table 66 Smart Manufacturing Market In North America, By Country, 2015–2023 (Usd Billion) 
Table 67 Smart Manufacturing Market In Europe, By Country, 2015–2023 (Usd Billion) 
Table 68 Smart Manufacturing Market In Apac, By Country, 2015–2023 (Usd Billion) 
Table 69 Smart Manufacturing Market In Row, By Region, 2015–2023 (Usd Billion) 
Table 70 Ranking Of Key Players In Smart Manufacturing Market, 2017
 
 
List Of Figures (69 Figures) 
 
Figure 1 Segmentations Of Smart Manufacturing Market
Figure 2 Smart Manufacturing Market: Research Design
Figure 3 Smart Manufacturing Market: Bottom-Up Approach
Figure 4 Smart Manufacturing Market: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Assumptions For Research Study
Figure 7 Smart Manufacturing Market For Enterprise Manufacturing Intelligence To Grow At Highest Cagr During Forecast Period
Figure 8 Iiot To Hold Largest Share Of Smart Manufacturing Market For Enabling Technology By 2023
Figure 9 Smart Manufacturing Market For Pharmaceuticals To Grow At Highest Cagr During Forecast Period
Figure 10 Automotive Industry To Hold Largest Share Of Smart Manufacturing Market By 2023
Figure 11 Smart Manufacturing Market, By Region
Figure 12 Industry 4.0 And Increasing Use Of Industrial Automation In Manufacturing Boost Adoption Of Smart Manufacturing
Figure 13 Smart Manufacturing Market For Collaborative Robots To Grow At Highest Cagr During Forecast Period
Figure 14 Energy & Power Industry To Hold Largest Share Of Smart Manufacturing Market In 2018
Figure 15 Automotive Industry To Dominate Smart Manufacturing Market In 2018
Figure 16 Industrial Communications To Hold Largest Share Of Information Technology Market Of Smart Manufacturing In Apac In 2018
Figure 17 Us To Hold Largest Share Of Smart Manufacturing Market In 2018
Figure 18 Industry 4.0 And Increasing Use Of Industrial Automation In Manufacturing Are Expected To Drive Growth Of Smart
Manufacturing Market 
Figure 19 Smart Manufacturing Market, By Information Technology
Figure 20 Industrial Communications To Hold Largest Share Of Smart Manufacturing Market For Information Technology By 2023
Figure 21 Pharmaceuticals Industry To Hold Largest Share Of Smart Manufacturing Market For Information Technology By 2023
Figure 22 Food & Beverages Industry To Hold Largest Share Of Information Technology Market For Hmi By 2023
Figure 23 Oil & Gas Industry To Hold Largest Share Of Information Technology Market For Emi In 2018
Figure 24 Information Technology Market For Pam In Apac To Grow At Highest Cagr During Forecast Period
Figure 25 Automotive Industry To Hold Largest Share Of Information Technology Market For Mes By 2023
Figure 26 Pharmaceuticals Industry To Hold Largest Share Of Information Technology Market For Industrial Communications By 2023
Figure 27 Food & Beverages Industry To Hold Largest Share Of Information Technology Market For Wms By 2023
Figure 28 Smart Manufacturing Market, By Enabling Technology
Figure 29 Iiot To Hold Largest Share Of Smart Manufacturing Market For Enabling Technology By 2023
Figure 30 Energy & Power Industry To Hold Largest Share Of Enabling Technology Market For Process Industry By 2023
Figure 31 Food & Beverages Industry To Hold Largest Share Of Enabling Technology Market For Industrial 3d Printing By 2023
Figure 32 Metals & Mining Industry To Hold Largest Share Of Enabling Technology Market For Collaborative Robots In 2018
Figure 33 Enabling Technology Market For Iiot In Apac To Grow At Highest Cagr During Forecast Period 
Figure 34 Automotive Industry To Hold Largest Share Of Enabling Technology Market For Ai In Manufacturing By 2023
Figure 35 Energy & Power Industry To Grow At Highest Cagr During Forecast Period In For Machine Condition Monitoring Market
Figure 36 Metals & Mining Industry To Hold Largest Share Of Enabling Technology Market For Industrial Machine Vision By 2023
Figure 37 Apac To Hold Largest Share Of Enabling Technology Market For Industrial Cybersecurity By 2023
Figure 38 Oil & Gas Industry To Hold Largest Share Of Enabling Technology Market For Digital Twin By 2023
Figure 39 Aerospace & Defense Industry To Grow At Highest Cagr In Enabling Technology Market For Agv During Forecast Period
Figure 40 North America To Hold Largest Share Of Enabling Technology Market For Blockchain In Manufacturing By 2025
Figure 41 Chemicals Industry To Hold Largest Share Of Enabling Technology Market For Ar & Vr In Manufacturing By 2023
Figure 42 Global Smart Manufacturing Market, By Industry
Figure 43 Energy & Power Industry To Hold Largest Share Of Smart Manufacturing Market By 2023 Figure 44 Semiconductor & Electronics Industry To Grow At Highest Cagr In Smart Manufacturing Market During Forecast Period
Figure 45 Smart Manufacturing Market, By Geography
Figure 46 Geographic Snapshot Of Smart Manufacturing Market
Figure 47 Apac To Dominate Smart Manufacturing Market During Forecast Period 
Figure 48 North America: Snapshot Of Smart Manufacturing Market
Figure 49 Europe: Snapshot Of Smart Manufacturing Market
Figure 50 France Is Anticipated To Witness Highest Growth In The Smart Manufacturing Market From 2018 To 2023
Figure 51 Apac: Snapshot Of Smart Manufacturing Market
Figure 52 Middle East To Dominate Smart Manufacturing Market During Forecast Period
Figure 53 Product Launches And Developments Emerged As Key Growth Strategies Adopted By Companies From 2015 To 2018
Figure 54 Stratasys: Company Snapshot
Figure 55 3d Systems: Company Snapshot
Figure 56 Daifuku: Company Snapshot
Figure 57 Jbt: Company Snapshot
Figure 58 Cisco: Company Snapshot
Figure 59 Ibm: Company Snapshot
Figure 60 Honeywell: Company Snapshot
Figure 61 Abb: Company Snapshot
Figure 62 Rockwell: Company Snapshot
Figure 63 Ge: Company Snapshot
Figure 64 Schneider: Company Snapshot
Figure 65 Siemens: Company Snapshot
Figure 66 Emerson: Company Snapshot
Figure 67 Oracle: Company Snapshot
Figure 68 Sap: Company Snapshot
Figure 69 Yokogawa: Company Snapshot

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.

IIoT is expected to hold the largest share of the smart manufacturing market for enabling technology. Various technologies are using IIoT to improve the functioning of the process. These technologies comprise of sensors, RFID, industrial robotics, distributed control system, condition monitoring, smart meter, electronic shelf label, camera, smart beacon, interface board, yield monitor, guidance and steering, GPS/GNSS, flow and application control device, and networking technology. Use of IIoT in these technologies helps to analyze the data collected via various devices and enables effective decision making.

Industrial communications is expected to hold the largest share of the smart manufacturing market for information technology. Industrial communications is a combination of components, software, and standard protocols that allows man-to-machine and machine-to-machine communication across various industries. Efficient, reliable, and secure industrial communications help in improving operational efficiency and reducing overall operational costs of organizations. Industrial communications plays a significant role in industries such as oil & gas, electronics, automotive, and energy & power.

The market for the pharmaceuticals industry is expected to grow at the highest CAGR amongst process industries from 2018 to 2023. As pharmaceuticals manufacturing is a complex process, it requires proper end-to-end monitoring to achieve operational efficiency. Manufacturers face problems such as growing cost pressures, regulatory and safety guidelines, and increasing demand for diverse product portfolios. Technologies such as MES, EMI and HMI help manufacturers standardize their workflow and minimize lead times by eliminating the time required for the approval from various bodies such as FDA.

The market for the automotive industry is expected to grow at the highest CAGR amongst discrete industries from 2018 to 2023. Increasing demand for automobiles in developing countries; technological innovations, such as electric cars, fuel efficient cars, connected cars; and growing competition in the market are expected to drive the demand for smart manufacturing in the automotive industry. Installing robots has helped several automotive companies to offset the shortage and high costs of acquiring and retaining skilled labor. This trend is expected to continue as sustainability, high productivity, and energy-saving measures are becoming important.

            Smart Manufacturing Market, by region, 2023 (usd Billion)

Source: Press Releases, Investor Relation Presentations, Annual Reports, Expert Interviews, and MarketsandMarkets Analysis

The smart manufacturing market in APAC is expected to grow at the highest CAGR globally from 2018 to 2023. The economy in the APAC region is world’s one of the fastest evolving due to increased spending on improving performance, security, and economic stability. The region is witnessing a surge in the deployment of smart manufacturing technologies. China, being one of the top manufacturing countries, has been adopting enabling technologies to increase operational efficiency and production in the country. Due to increasing maintenance costs in manufacturing, manufacturing and energy & utilities industries have been genuinely considering the adoption of advanced technologies, such as predictive maintenance, to optimize maintenance processes and reduce operational costs.

Major factors restraining the growth of the smart manufacturing market include high investment and cost involved in implementation, lack of standardization among equipment manufacturers and in connectivity protocols, constant need for upgrading software, and low adoption of technologies owing to technical issues. Key market players such as 3D Systems (US), ABB (Switzerland), Cisco (US), Daifuku (Japan), Emerson (US), General Electric (US), Honeywell (US), IBM (US), Oracle (US), Rockwell (US), SAP (Germany), Schneider (France), Siemens (Germany), and Yokogawa (Japan) have adopted strategies such as product launches and developments, expansions, acquisitions, agreements, contracts, collaborations, and partnerships to gain competitive edge in the smart manufacturing market and expand their distribution networks.

Major Application of Smart Manufacturing Technologies

Energy & Power:

Energy & power companies are increasingly adopting cybersecurity solutions and upgrading their cybersecurity capabilities to protect their industrial systems from rapidly evolving cyber threats. Cybersecurity in these companies help in mitigating challenges pertaining to ageing grid infrastructure, monitoring power system operations, maintaining balance between power generation and distribution, and enabling fast and efficient services restoration after interruptions. Power plants use advanced sensing technologies and condition monitoring solutions for detecting potential failure of equipment, such as boilers, turbines, or generators, to avoid unplanned breakdowns or accidents. The machine condition monitoring technique has helped power companies in realizing offline and real-time system data analysis and facilitating the collection of machine performance data.

Automotive:

The global automotive industry is growing rapidly due to the emergence of new concept vehicles that employ eco-friendly technologies. PAM solutions help maintain all necessary information of assets, such as procurement, maintenance, failure point analysis, which enables preventive actions in a manufacturing process. Most functions such as inventory management, performance analysis, design, and supply chain management are time consuming when carried out manually. These have been automated with the help of MES, HMI, and EMI solutions as they allow saving time during assembling. Machine condition monitoring solutions help automotive organizations better manage component wear and failure by using techniques such as vibration monitoring, oil analysis, and infrared imaging.

Pharmaceuticals:

Pharmaceutical companies are using AI-based technology for quality control, material movement, and production planning. In quality control, computer vision technology analyzes images, ingredients, and separates any outlier object, if found. This quality control method is followed by material movement and production planning. In the material movement procedure, AI-based systems check if the right material is being packaged. IIoT has helped the industry in increasing productivity, enhancing worker efficiency, and reducing production and inventory costs.

Semiconductor & Electronics:

In the semiconductor & electronics industry, AI is used for production planning, quality control, and material movement. The implementation of AI-based solutions is expected to benefit manufacturers in terms of optimizing production cost, technology implementation, and integration of components. AI solutions help companies analyze collected data to aid improved decision-making. AI-based industrial robotic applications range from manufacturing computer chips and cell phone casings to other manufacturing and handling processes. This industry is very sensitive to technological changes and cannot afford any manufacturing faults. AI-based industrial robots are mainly used to check the quality of finished, as well as unfinished, electronic products.

Critical Questions:
• Will suppliers continue to explore new avenues for smart manufacturing technologies?
• What are the adjacencies that the companies can leverage or explore?

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