Smart Manufacturing Platform Market by Type, Deployment Type, Application, End-use

Description

List of Tables

[185 Pages Report] The Smart Manufacturing Platform Market size was estimated at USD 10.74 billion in 2023 and expected to reach USD 12.53 billion in 2024, at a CAGR 17.30% to reach USD 32.82 billion by 2030.

Smart manufacturing platform encompasses a wide range of software and hardware solutions aimed at optimizing production processes, enhancing operational efficiency, reducing costs, and increasing overall profitability for manufacturing companies. The platforms integrate advanced technologies such as the Internet of Things (IoT), artificial intelligence (AI), big data analytics, machine learning (ML), robotics, and automation to streamline the entire manufacturing process, from design to production and maintenance. The emerging trend of the Industry 4.0 revolution, with its emphasis on digitization and increasing demand for IoT technology in the industrial sector, enabling real-time data exchange between machines, is elevating the usage of smart manufacturing platforms. The rising need for streamlined operations, driving cost reductions, and stringent regulatory compliance requirements requiring high-quality standards are driving the demand for smart manufacturing platforms. High initial investment costs associated with implementation and the lack of skilled workforce required for operating smart manufacturing platforms are hampering market growth. The growing integration of 5G technology and edge computing that enable faster data transmission and real-time analytics and the increasing development of advanced AI-driven algorithms to optimize production processes are expected to create opportunities for market growth.

KEY MARKET STATISTICS
Base Year [2023]	USD 10.74 billion
Estimated Year [2024]	USD 12.53 billion
Forecast Year [2030]	USD 32.82 billion
CAGR (%)	17.30%

Regional Insights

Rising investments in all industrial sectors and undergoing a renaissance of innovations with increasing government initiatives and smart manufacturing tools in process and discrete industries in the region fuel the growth of the global smart manufacturing platform market. Additionally, with rising technological investments in the U.S. manufacturing of machinery and industrial tools, many manufacturing industries' availability drives regional growth. The EMEA region is expected to gain significant growth in the smart manufacturing platform with the high adaptation for industrial upgradation towards 4.0 and a rising focus on advanced supply chain management in the manufacturing processes, with multiple integrated solutions. The ongoing surge towards automatized industrial production with IoT and cloud deployment further boosts the EMEA region's market growth. The growth in the Industry 4.0 revolution with industrial automation in the Asia-Pacific region raises the need for smart manufacturing platforms in emerging countries. In January 2021, China aimed to build 30 fully connected 5G factories in 10 key industries by 2023 to the broader adoption of advanced technologies such as next-generation wireless networks, big data, artificial intelligence, and IoT.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Smart Manufacturing Platform Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Emerging trend of Industry 4.0 with emphasis on digitization
- Increasing complexities in supply chains and surging demand for software that reduces time and cost
- Rising government investment in supporting industrial automation

Market Restraints
- High cost of implementation of smart manufacturing platform

Market Opportunities
- Growing integration of advanced technologies in smart manufacturing platform
- Rising use of digital twins for equipment monitoring and predictive maintenance

Market Challenges
- Security and privacy concerns with the usage of a smart manufacturing platform

Market Segmentation Analysis
- Type: Rising adoption of application enablement platform (AEP) to create and customize applications
- Deployment: Growing on-cloud deployment as it requires less upfront investment
- Application: Increasing application of smart manufacturing platform for asset & condition monitoring that improves equipment reliability
- End-use: Emerging adoption of smart manufacturing platforms across the aerospace & defense sector to enable data-driven decision-making

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Smart Manufacturing Platform Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Smart Manufacturing Platform Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

ABB Launches OptiFact To Unlock Full Factory Data Potential

ABB Ltd. introduced the OptiFact software platform, designed to enhance data collection, visualization, and analysis in automated production facilities. This modular solution empowers users to efficiently gather, organize, and analyze data from numerous factory devices, enabling them to evaluate critical performance indicators such as cycle time and OEE. By expediting diagnostics and decision-making processes, OptiFact minimizes engineering efforts and maximizes production line uptime, ensuring that customer demand is met effectively. [Published On: 2023-10-09]

New Partnership between Advantech and Axiom Elevates Comprehensive Manufacturing Technology Solutions

Advantech Co.Ltd, an industrial edge and automation solutions provider, partnered with Axiom Manufacturing Systems, a digital manufacturing consulting and systems integration company, to support the US manufacturing market by combining Advantech's WISE software platform and hardware with Axiom's expertise in manufacturing systems. The partnership enabled the unlocking of new opportunities in industrial manufacturing, empowering businesses to address emerging challenges and maintain a competitive edge. [Published On: 2023-06-13]

Snowflake Launches Manufacturing Data Cloud to Improve Supply Chain Performance and Power Smart Manufacturin

Snowflake Inc. launched the Manufacturing Data Cloud, a platform designed to empower companies in the automotive, technology, energy, and industrial sectors to extract the full value of their isolated industrial data. With this innovative solution, manufacturers gain the ability to securely collaborate with partners, suppliers, and customers, resulting in enhanced agility and visibility across the entire value chain. Snowflake Inc.'s Manufacturing Data Cloud offers a unified platform for consolidating multi-cloud data, complete with comprehensive governance and elastic performance capabilities. This means that manufacturers seamlessly scale their storage, compute, and user requirements, all while ensuring data integrity and security. Furthermore, this platform enables manufacturers to access both IT and OT data, as well as integrate third-party partner data, effectively eliminating the traditional data silos that have hindered industry progress. [Published On: 2023-04-13]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Smart Manufacturing Platform Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Smart Manufacturing Platform Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Accenture PLC, Altizon Systems Private Limited, Amazon.com, Inc., Atos SE, C3.ai, Inc., Cisco Systems, Inc., Emerson Electric Co., Flutura, Fujitsu Limited, General Electric Company, Hitachi, Ltd., Honeywell International Inc., Intel Corporation, International Business Machines Corporation, Litmus Automation, Losant, Microsoft Corporation, Oracle Corporation, Panasonic Corporation, PTC Inc., QiO Technologies Ltd., Robert Bosch GmbH, Rockwell Automation, Inc., SAP SE, Schneider Electric SE, Seebo, Siemens, and Telit Corporate Group by Thales Group.

Market Segmentation & Coverage

This research report categorizes the Smart Manufacturing Platform Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- Application Enablement Platform
- Connectivity Management
- Device Management

Deployment Type
- On-Cloud
- On-Premises

Application
- Asset & Condition Monitoring
- Performance Optimization

End-use
- Aerospace & Defense
- Automotive
- Electronics
- Food & Beverages
- Medical
- Oil & Gas

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-0360AB17DE56

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Emerging trend of Industry 4.0 with emphasis on digitization
  - 5.1.1.2. Increasing complexities in supply chains and surging demand for software that reduces time and cost
  - 5.1.1.3. Rising government investment in supporting industrial automation
- 5.1.2. Restraints
  - 5.1.2.1. High cost of implementation of smart manufacturing platform
- 5.1.3. Opportunities
  - 5.1.3.1. Growing integration of advanced technologies in smart manufacturing platform
  - 5.1.3.2. Rising use of digital twins for equipment monitoring and predictive maintenance
- 5.1.4. Challenges
  - 5.1.4.1. Security and privacy concerns with the usage of a smart manufacturing platform
5.2. Market Segmentation Analysis
- 5.2.1. Type: Rising adoption of application enablement platform (AEP) to create and customize applications
- 5.2.2. Deployment: Growing on-cloud deployment as it requires less upfront investment
- 5.2.3. Application: Increasing application of smart manufacturing platform for asset & condition monitoring that improves equipment reliability
- 5.2.4. End-use: Emerging adoption of smart manufacturing platforms across the aerospace & defense sector to enable data-driven decision-making
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Smart Manufacturing Platform Market, by Type

6.1. Introduction
6.2. Application Enablement Platform
6.3. Connectivity Management
6.4. Device Management

7. Smart Manufacturing Platform Market, by Deployment Type

7.1. Introduction
7.2. On-Cloud
7.3. On-Premises

8. Smart Manufacturing Platform Market, by Application

8.1. Introduction
8.2. Asset & Condition Monitoring
8.3. Performance Optimization

9. Smart Manufacturing Platform Market, by End-use

9.1. Introduction
9.2. Aerospace & Defense
9.3. Automotive
9.4. Electronics
9.5. Food & Beverages
9.6. Medical
9.7. Oil & Gas

10. Americas Smart Manufacturing Platform Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Smart Manufacturing Platform Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Smart Manufacturing Platform Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. ABB Launches OptiFact To Unlock Full Factory Data Potential
- 13.3.2. New Partnership between Advantech and Axiom Elevates Comprehensive Manufacturing Technology Solutions
- 13.3.3. Snowflake Launches Manufacturing Data Cloud to Improve Supply Chain Performance and Power Smart Manufacturin
13.4. Strategy Analysis & Recommendation

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio