The Smart Manufacturing Market Growth was valued at USD 262.45 billion in 2022 and is projected to reach USD 759.23 billion by 2030, with a compound annual growth rate (CAGR) of 14.2% during the forecast period from 2023 to 2030.
Smart manufacturing, a rapidly expanding sector, has witnessed significant growth in recent years. With an initial valuation of USD 262.45 billion in 2022, the market is expected to soar to an impressive USD 759.23 billion by 2030. This remarkable growth is projected to occur at a steady compound annual growth rate (CAGR) of 14.2% over the forecast period spanning from 2023 to 2030.
The rise of smart manufacturing has been fueled by advancements in technology and the increasing adoption of automation and data-driven processes across various industries. This transformative approach to manufacturing integrates cutting-edge technologies such as artificial intelligence, Internet of Things (IoT), robotics, and cloud computing to optimize production processes, enhance efficiency, and drive overall productivity.
The forecasted growth of the smart manufacturing market presents immense opportunities for businesses to leverage these innovative solutions and gain a competitive edge. By embracing smart manufacturing practices, companies can streamline operations, reduce costs, improve product quality, and respond swiftly to changing market demands.
Furthermore, the projected CAGR of 14.2% signifies the sustained momentum and long-term viability of the smart manufacturing market. This consistent growth rate indicates a promising future for the industry, attracting investments and encouraging further research and development in this field.
In conclusion, the smart manufacturing market is poised for substantial expansion, with an estimated value of USD 759.23 billion by 2030. This growth is underpinned by the integration of advanced technologies and the potential benefits they offer to businesses across various sectors. Embracing smart manufacturing practices will undoubtedly pave the way for enhanced productivity, efficiency, and competitiveness in the evolving global marketplace.
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KEY MARKET SEGMENTATION
By Component
Hardware
Software
Services
By Technology
Machine Execution Systems
Programmable Logic Controller
Enterprise Resource Planning
SCADA
Discrete Control Systems
Human Machine Interface
Machine Vision
3D Printing
Product Lifecycle Management
Plant Asset Management
By End-Use
Automotive
Aerospace & Defense
Chemicals & Materials
Healthcare
Industrial Equipment
Electronics
Food & Agriculture
Oil & Gas
Others
Key Players
The Major Players are ABB, Siemens, General Electric, Rockwell Automation, Inc., Schneider Electric, Honeywell International Inc., Emerson Electric, Fanuc, and other players
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Table of Contents
Introduction
Research Methodology
Market Dynamics
Impact Analysis
Value Chain Analysis
Porter’s 5 forces model
PEST Analysis
Global Smart Manufacturing Market segmentation, By Component
Global Smart Manufacturing Market segmentation, By Technology
Global Smart Manufacturing Market segmentation, By End-use
Global Smart Manufacturing Market, by region/ country
Company Profile
Competitive Landscape
Conclusion
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