The global smart manufacturing market is projected to reach a value of USD 228.2 billion by 2027, growing at a CAGR of 18.5%. Growing adoption of Industry 4.0, rising emphasis on industrial automation in manufacturing processes, increasing government involvement in supporting industrial automation, growing emphasis on regulatory compliances, increasing complexities in the supply chain, and surging demand for software systems that reduce time and cost are the major factors boosting the growth of this industry.

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