Smart Manufacturing Market Forecast 2028: Reaching $713.44B

The Business Research Company has updated all its market reports with the latest information for the year 2024, projecting trends and forecasts until 2033.

The Smart Manufacturing Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Smart Manufacturing Global Market Report 2024, The smart manufacturing market size has grown rapidly in recent years. It will grow from $362.79  billion in 2023 to $414.75  billion in 2024 at a compound annual growth rate (CAGR) of 14.3%.  The  growth in the historic period can be attributed to advancements in industrialization, rise of big data analytics, focus on cyber-physical systems, globalization of supply chains, energy efficiency and sustainability, enhanced quality control measures, shift to smart factories.The smart manufacturing market size is expected to see rapid growth in the next few years. It will grow to $713.44  billion in 2028 at a compound annual growth rate (CAGR) of 14.5%.

The rising adoption of robotics by industries is anticipated to propel the growth of the smart manufacturing market. Robotics, encompassing the interdisciplinary field of science and engineering, involves the design, construction, operation, and utilization of robots. Smart manufacturing integrates intelligent technologies to optimize production processes, enhance efficiency, and facilitate the implementation of adaptive and automated robotic systems.For example, according to the latest World Robotics report by the International Federation of Robotics, a Germany-based professional non-profit organization, 517,385 industrial robots were introduced into global factories in 2021, marking a notable growth rate of 31% year-on-year. The USA, in particular, witnessed the deployment of 50,712 industrial robots in 2021, reflecting a 31% growth compared to 2020. This surge in the adoption of robotics signifies the increasing reliance on smart manufacturing practices across industries. Therefore, the rising adoption of robotics by industries is expected to drive the growth of the smart manufacturing market.

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The smart manufacturing market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Technology: Machine Execution Systems (MES), Programmable Logic Controller (PLC), Enterprise Resource Planning (ERP), SCADA, Discrete Control Systems (DCS), Machine Vision, 3D Printing, Other Technologies
3) By End-User: Automotive, Aerospace and Defense, Chemicals and Materials, Healthcare, Industrial Equipment, Electronics, Food and Agriculture, Oil and Gas, Other End-Users

Top Major Players

Siemens AG,

General Electric Company,

Rockwell Automation,

Schneider Electric SE,

Honeywell International Inc.                                 

The smart manufacturing market report table of contents includes:
            1. Executive Summary

2. Smart Manufacturing Market Characteristics
3. Smart Manufacturing Market Trends And Strategies
4. Smart Manufacturing Market – Macro Economic Scenario
5. Global Smart Manufacturing Market Size and Growth
6. Smart Manufacturing Market Segmentation
7. Smart Manufacturing Market Regional And Country Analysis

………..

33. Key Mergers And Acquisitions In The Smart Manufacturing Market
34. Smart Manufacturing Market Future Outlook and Potential Analysis
35. Appendix

List Of Tables :

Table 1: Global Historic Market Growth, 2018-2023, $ Billion

Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion

Table 3: Global Smart Manufacturing Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 4: Global Smart Manufacturing Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 5: Global Smart Manufacturing Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

…………..

Table 74: Siemens AG Financial Performance

Table 75: General Electric Company Financial Performance

Table 76: Rockwell Automation Financial Performance

Table 77: Schneider Electric SE Financial Performance

Table 78: Honeywell International Inc Financial Performance 

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