The smart manufacturing platform market is expected to reach a market size of USD 29.64 Billion in 2028 and register a robust double-digit CAGR over the forecast period, according to latest analysis by Emergen Research. This steady growth can be attributed to rising need for real-time production monitoring and rising need to increase resource efficiency in a manufacturing network through dynamic sharing of manufacturing services, which is driving adoption of cloud manufacturing platforms.
The Global Smart Manufacturing Platform Market report focuses on current and future market growth, technological advancements, volume, raw materials, and profiles of the key companies involved in the market. The report provides valuable insights to the stakeholders, investors, product managers, marketing executives, and other industry professionals.
Industries are increasingly adopting smart manufacturing platforms to create smart manufacturing networks with higher productivity to improve resource efficiency and utilization rates. Cloud-enabled smart manufacturing platform help in identification of manufacturing inefficiencies and bottlenecks and streamlines manufacturing processes. Smart manufacturing platform provide real-time data collection and monitoring, which helps to improve productivity of production systems.
If you are a Smart manufacturing platform vendor and deals in exports imports then this article will help you understand the Sales Volume with Impacting Trends.
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This 265-page Smart manufacturing platform market report examines the Smart manufacturing platform market in detail and provides market sizing outlook by technology and by region until 2026. The report also highlights key use cases, leading industry suppliers, adoption strategies, detailed case studies, disruptive trends, and other insights related to Smart manufacturing platform.
The global Smart manufacturing platform industry is highly consolidated due to the presence of powerful market competitors across several regional and local segments of the Smart manufacturing platform market. These players are said to dominate the industry owing to their strong geographical reach and large production facilities. These companies are said to be in high competition with one another in terms of technological capabilities, product development and innovation, and product pricing strategies.
The major manufacturers covered in this report:
Microsoft, IBM, PTC Inc., SAP SE, Hitachi, ABB, Amazon, Bosch, Emerson, and Fujitsu Ltd
A quick look at the industry trends and opportunities
The study evaluates the ever-changing industry dynamics that are expected to affect the trajectory of the overall market. Our expert analysts scrutinize the historical trends in the market and compare it to the contemporary market trends, to estimate the trajectory that the market might follow in the forecast period. For an in-depth discussion regarding the global Smart manufacturing platform market, analysts segment the market parameters based on the application, product, and end-users.
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Segments Covered in this report are:
- Application Outlook (Revenue, USD Billion; 2021–2028)
- Asset Condition Monitoring
- Performance Optimization
- Industries Outlook (Revenue, USD Billion; 2021–2028)
- Discrete (Medical Devices, Electronics Semiconductor, Automotive, Industrial Manufacturing, Aerospace Defense)
- Process (Chemicals, Food Beverages, Oil Gas, Metals Mining, Power Energy, Pharmaceuticals)
- Type Outlook (Revenue, USD Billion; 2021–2028)
- Connectivity Management
- Device Management
- Application Enablement
The global Smart manufacturing platform market consists of various significant regional segments. Under this section of the report, the product demand, output, and estimated revenue share of each region have been ascertained. The most prominent regions dictating the global market include:
- North America (U.S., Canada, Mexico)
- South America (Brazil, Argentina, Ecuador, Chile)
- Europe (U.K., Germany, France, Italy)
- Asia Pacific (China, Japan, India, Korea)
- Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran)
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Key Highlights of Report
In June 2020, Microsoft announced the acquisition of CyberX to accelerate and secure IoT deployments of customers. With the help of CyberX, customers can manage and improve the security postures of existing IoT devices. CyberX is expected to help customers see a digital map of thousands of devices across a factory floor, which would securely enable smart manufacturing across production facilities and the supply chain.
The performance optimization segment accounted for largest market share of 49.8% in 2019. Adoption of performance optimization applications and smart manufacturing platforms has been growing across industries such as energy power, automotive, oil gas, and electronics semiconductors, which is driving revenue growth of the performance optimization segment to a significant extent.
The process industries segment revenue is expected to expand at a rapid CAGR of 21.9% during the forecast period. Rising need to lower operational expenditure and enhance productivity is boosting adoption of Industry 4.0 in process industries. This is also driving deployment of smart manufacturing platforms in process industries.
The device management segment accounted for a significantly high revenue share in the smart manufacturing platform market in 2019. Increased adoption of advanced digital technologies in the manufacturing sector such as digital twins, smart sensors, and Industrial Internet Of Things (IIoT) is resulting in increasing number of connected devices, which is driving the need for device management.
Asia Pacific accounted for largest revenue share contribution to the global smart manufacturing platform market in 2019. Increasing initiatives by government regarding industrial automation is driving growth of the smart manufacturing platform market in the region.
Why Choose Emergen Research?
Regional demand estimation and forecast
Pre-commodity pricing volatility
Technological updates analysis
Location Quotients Analysis
Raw Material Sourcing Strategy
Product Mix Matrix
Cost Benefit Analysis
Supply chain optimization analysis
Carbon Footprint Analysis
R D Analysis
Mergers and Acquisitions
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Table of Content:
1 Scope of the Report
1.1 Market Introduction
1.2 Research Objectives
1.3 Years Considered
1.4 Market Research Methodology
1.5 Economic Indicators
1.6 Currency Considered
2 Executive Summary
3 Global Smart manufacturing platform by Players
4 Smart manufacturing platform by Regions
4.1 Smart manufacturing platform Market Size by Regions
4.2 Americas Smart manufacturing platform Market Size Growth
4.3 APAC Smart manufacturing platform Market Size Growth
4.4 Europe Smart manufacturing platform Market Size Growth
4.5 Middle East Africa Smart manufacturing platform Market Size Growth
8 Middle East Africa
9 Market Drivers, Challenges and Trends
9.1 Market Drivers and Impact
9.1.1 Growing Demand from Key Regions
9.1.2 Growing Demand from Key Applications and Potential Industries
9.2 Market Challenges and Impact
9.3 Market Trends
10 Global Smart manufacturing platform Market Forecast
11 Key Players Analysis
12 Research Findings and Conclusion
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend’s existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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