The global Smart Manufacturing market is expected to grow from USD 108.9 billion in 2023 to USD 241.0 billion by 2028, registering a CAGR of 17.2%. Rapid global expansion of smart manufacturing, integrating technology for efficient, quality-enhanced production across diverse industries, is driving the growth of the smart manufacturing market. Consumer demand for customized products drives manufacturers to adopt smart solutions that enable efficient and cost-effective customization. Technologies like additive manufacturing (3D printing) and advanced robotics allow for more significant product variation without sacrificing efficiency
3D System, Inc. (US), ABB (Switzerland), Cisco System, Inc. (US), Emerson Electric Co. (US), General Electric (US), Honeywell International Inc. (US), IBM (US), Mitsubishi Electric Corporation (Japan), Rockwell Automation (US), Schneider Electric (France), Siemens (Germany), Oracle (US), SAP (Germany), Stratasys (US), Yokogawa Electric Corporation(Japan) are the top players in the Smart Manufacturing market. These companies have a worldwide presence and offer a wide range of Smart Manufacturing and related solutions and services. They rely on their R&D capabilities and diversified product and service portfolios to increase their market share.
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Top 3 Players in the Smart Manufacturing Market:
ABB is a pioneering provider of cutting-edge robotics, machine automation, and digital services solutions. These solutions are tailored for various industries, including automotive, electronics, and logistics. The company operates through four distinct business divisions: Electrification, Motion, Process Automation, and Robotics & Discrete Automation. Renowned as a prominent supplier of industrial robots and adaptable manufacturing systems, ABB’s Robotics & Discrete Automation arm has successfully deployed over 300,000 ABB robots worldwide. These robots cater to diverse sectors, spanning automotive, food & beverages, chemicals, pharmaceuticals, and more. With a global workforce of approximately 10,700 employees spread across 100 countries, ABB is deeply committed to serving clients primarily within the automotive, electronics, and logistics sectors. The company’s comprehensive product lineup encompasses traditional industrial robots and collaborative variants characterized by articulated, parallel, or SCARA designs. These robots boast an impressive payload capacity, ranging from 0.5 kg to 800 kg. ABB also specializes in crafting specialized robots designed for painting and door-opening applications. ABB’s intricate network model, AbilityTM, seamlessly links multiple robots and robotic equipment, facilitating efficient automation control and real-time monitoring. Key subsidiaries of ABB are strategically located in various countries, including the UK, Sweden, South Korea, Japan, China, Brazil, and Germany.
Mitsubishi Electric Corporation (Japan)
Mitsubishi Electric operates through six segments—Energy and Electric Systems, Industrial Automation Systems, Information and Communication Systems, Electronic Devices, Home Appliances, and Others. The company offers industrial robots and related services through the Industrial Automation Systems segment. Industrial Automation Systems include a wide range of products, including PLCs, servomotors, investors, industrial robots, automotive electrical equipment, industrial fans, UPS, ADAS-related products, etc. Industrial robots are offered under the MELFA lineup and have a payload capacity ranging from 2 kg to 70 kg. The company provides articulated and SCARA robots for medical, food handling, and cleanroom applications. Although the new FR series robots are traditional industrial robots, they can be programmed for collaborative applications. Longer-reach robot variants are also offered for the same payload. The company also provides controllers, vision systems, and software, thus offering a complete product portfolio.
FANUC CORPORATION operates across four distinct divisions: Factory Automation (FA), ROBOT, ROBOMACHINE, and Service. The company boasts over 100 industrial robots within the ROBOT division, each designed to address many applications. While FANUC CORPORATION is renowned for its conventional industrial robots, it also features a range of collaborative robots designed to accommodate varying payloads. FANUC CORPORATION’s industrial robots are pivotal in automating processes like welding, material handling, assembly, and painting across various industries, including automotive, electrical & electronics, logistics, food & beverages, cosmetics, and pharmaceuticals. Notably, some of the company’s traditional industrial robots exhibit impressive payload capacities, reaching 2,300 kg. The latest additions to their collaborative robot lineup can be found under the CRX series. In addition to its robot offerings, FANUC CORPORATION has introduced the FIELD system (FANUC CORPORATION Intelligent Edge Link & Drive System). This innovative open platform enhances productivity, efficiency, and centralized management of industrial equipment, including industrial robots. FANUC CORPORATION has consistently demonstrated a robust history of pioneering novel and advanced robotic technologies. Their achievements encompass the development of collaborative robots and SCARA robots, exemplifying their unwavering commitment to innovation. This steadfast focus on innovation has enabled FANUC CORPORATION to maintain a leading edge in the competitive landscape, equipping its customers with the most sophisticated and cutting-edge robotic solutions attainable.
Smart Manufacturing Market by Technology (3D printing, Al in Manufacturing, Automated guided vehicle, Condition Monitoring, Cybersecurity, Digital Twin, HMI, Machine Vision, MES, PAM, Robot, Sensor), Industry, Region - Global Forecast to 2028
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