Smart Manufacturing Market

Emerson ElectricSmart and ABB Ltd. are Leading Players in the Manufacturing Market

Smart manufacturing helps in monitoring and controlling production processes with the help of information technology and provides insights into production processes for effective decision making with the help of enabling technology. Enabling technology enables the collection of data and with the help of charts and algorithms allows making decisions and taking effective measures to improve processes. Because of the increasing demand for industrial automation technologies and solutions to enhance production efficiency, the smart manufacturing market is expected to grow substantially from 2020 to 2025. The smart manufacturing market is estimated to be worth USD 214.7 billion in 2020 and USD 384.8 billion by 2025, growing at a CAGR of 12.4% during the forecast period. The growing adoption of Industry 4.0 and industrial automation in the manufacturing sector are the factors boosting the smart manufacturing market growth. Emerson Electric (US), ABB Ltd. (Europe), and Rockwell Automation (US) are a few of the dominating players in the smart manufacturing market.

Emerson Electric

Emerson Electric Co. manufactures and develops process controls, systems, valves, and analytical instruments. The company offers industrial, commercial, automation, and residential solutions worldwide. It operates through 2 business segments—Automation Solutions and Commercial & Residential Solutions. The company has 220 manufacturing locations in 150 countries, primarily in Europe and Asia. Emerson Electric provides PAM solutions under its Automation Solutions segment. It serves industries such as petroleum, chemicals, food & beverages, pulp & paper, pharmaceuticals, and water & wastewater treatment. The company’s automation technologies help several organizations to improve their plant performance at a reduced cost; for example, the Plantweb Optics solution offered by the company delivers higher-level collaboration, better insights, and priority decision-making, thereby enabling substantial savings due to reduced maintenance costs.

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ABB Ltd.

The ABB Group was founded in 1988 after the merger of Asea AB (Sweden) and BBC Brown Boveri AG (Switzerland). It operates mainly in areas such as roboticspower, heavy electrical equipment, and automation technology. The company has a presence in Europe, the Americas, Asia, Africa, and the Middle East. ABB mainly operates through 3 business segments—Electrification Products, Robotics and Motion, and Industrial Automation. In 2018, the company sold its Power Grids business to Hitachi (Japan) to focus more on its core businesses such as industrial automation. The Power Grids business is expected to be divested to Hitachi by 2020. Under its Industrial Automation business division, the company offers various plant asset management (PAM )solutions, including System 800xA Asset Management, Asset Master, and AssetVista, for various key industries, such as oil & gas, mining, pulp & paper, chemicals, and water & wastewater. To ensure the growth of its PAM business, the company has leveraged its unique installed base of automation products.

Rockwell Automation

Rockwell Automation, Inc. is one of the world’s largest companies providing industrial automation power, control, and information solutions. The company operates through 2 major business segments, namely, Architecture & Software and Control Products & Solutions. The Architecture & Software segment includes hardware, software, and communication components of the companys integrated control and information architecture capable of controlling customers’ industrial processes and connecting with their manufacturing enterprises. The Control Products & Solutions segment includes motor control products and industrial control products, as well as services such as asset management, technical support and repair, and predictive and preventative maintenance. Rockwell Automation offers PAM solutions and services for production and automation assets under its Control Products & Solutions business segment. PAM solutions offered by the company provide benefits such as reduced unplanned downtime, increased equipment output, and improved manufacturing flexibility.

Other companies involved in the development of smart manufacturing solutions include 3D Systems (US ), CISCO (US), General Electric (US), Honeywell (US), IBM (Europe), Mitsubishi Corporation (Japan), Schneider (Europe), Siemens (Europe), Oracle (US), SAP (Europe), Yokogawa (Japan) and Stratasys (US).

Related Reports:

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 2025

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Report Code
SE 6677
RI Published ON
4/3/2020
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