Smart Manufacturing Platform Market

Market Leadership - Smart Manufacturing Platform Market

The global smart manufacturing platform market is projected to grow from USD 4.4 billion in 2019 to USD 10.8 billion by 2024; it is expected to grow at a CAGR of 19.7%. Major factors driving the growth of the market are the increasing automation, support from governments for industrial automation, increasing demand for enhanced productivity and reduced operational costs while factors such as concern over security and integration of platform pose challenges.

Major players in the smart manufacturing platform market include Microsoft Corporation (US), IBM Corporation (US), PTC Inc. (US), SAP SE (Germany), Hitachi, Ltd. (Japan), Amazon.com, Inc. (US),  Siemens AG (Germany), Schneider Electric SE (France), ABB Group (Switzerland), Emerson Electric Co. (US), Fujitsu Ltd. (Japan), Accenture plc (Ireland), Robert Bosch GmbH (Germany), Oracle Corporation (US),  Cisco Systems, Inc. (US), Rockwell Automation, Inc. (US), Atos SE (France), C3 IoT (US), Telit Communications PLC (UK), Software AG (Germany), Seebo Interactive Ltd. (US), QiO Technologies (UK), Altizon Systems (US), Losant (US), Litmus Automation (US), and Flutura Decision Sciences and Analytics (US)

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These players have adopted various growth strategies, such as agreements, collaboration, partnerships, and product launches, to expand their presence in the smart manufacturing platform market further. Partnerships & collaborations and products launches have been the most dominating strategies adopted by key players from 2017 to 2018, which helped them strengthen their product portfolio and broaden their customer base.

Microsoft Corporation (US) led the smart manufacturing platform market in 2018. It develops, licenses, software, services, devices, and solutions worldwide. The company was founded in 1975 and is based in Washington, US. Microsoft Azure operates as a cloud computing service. It offers services, such as computing, analytics, web & mobile, storage, media & content delivery network, development, management & security, Internet of Things (IoT) and networking. It offers cloud-based public safety software solutions. The Azure Internet of Things (IoT) is a collection of Microsoft-managed cloud services that connects, monitors, and controls billions of IoT assets. Recently, in May 2019, Microsoft Corp. announced a series of new Azure services and developer technologies that put advanced capabilities spanning AI, mixed reality, IoT, and blockchain in the hands of developers.

IBM (US) was the second largest company in the smart manufacturing platform market in 2018. It produces and markets computer hardware, middleware, & software, and provides hosting and consulting services in areas ranging from mainframe computers to nanotechnology. The company was founded in 1911 as Computing-Tabulating-Recording Company (CTR) and renamed as International Business Machines (IBM) in 1924. It operates through reportable segments such as Cognitive Solutions, Global Business Services, Technology Services & Cloud Platforms, and Systems. IBM Watson IoT Platform can connect and control IoT sensors, appliances, homes, and industries. In February 2019, IBM announced collaborations with Garmin Health, Guardhat, Mitsufuji, and SmartCone to monitor worker safety in hazardous environments, including those working in construction, mining and factories, using IoT technologies. In 2018,  it acquired Oniqua Holdings Pty Ltd., a global innovator in Maintenance Repair and Operations (MRO) Inventory Optimization solutions and services focused on mining, oil & gas, transportation, utilities, manufacturing, and other asset-intensive industries.

Related Reports:

Smart Manufacturing Platform Market by type (Device & Connectivity Management, Application Enablement), Application (Performance, Optimization, Asset & Condition Monitoring), Industry (Process, Discrete), Deployment Type, Region - Global Forecast to 2024

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Report Code
SE 7137
RI Published ON
6/3/2019
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