Smart Manufacturing Market Report: Trends, Forecast and Competitive Analysis to 2030

Smart Manufacturing Trends and Forecast

The future of the global smart manufacturing market looks promising with opportunities in the automotive, aerospace and defense, chemical and material, healthcare, industrial equipment, electronics, food & agriculture, and oil & gas sectors. The global smart manufacturing market is expected to reach an estimated $593.5 billion by 2030 with a CAGR of 13.5% from 2024 to 2030. The major drivers for this market are rising demand for software based manufacturing systems and growing preference for IoT and cloud technology based factories.

A more than 150-page report is developed to help in your business decisions.

Smart Manufacturing by Segment

The study includes a forecast for the global smart manufacturing by component, application, end use industry, and region.

Smart Manufacturing Market by Component [Shipment Analysis by Value from 2018 to 2030]:

• Hardware
• Software
• Services

Smart Manufacturing Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Machine Execution System
• Programmable Logic Controller
• Enterprise Resource Planning
• SCADA
• Discrete Control Systems
• Human Machine Interface
• Machine Vision
• 3D Printing
• Product Lifecycle Management
• Plant Asset Management

Smart Manufacturing Market by End Use Industry [Shipment Analysis by Value from 2018 to 2030]:

• Automotive
• Aerospace and Defense
• Chemicals and Materials
• Healthcare
• Industrial Equipment
• Electronics
• Food & Agriculture
• Oil & Gas
• Others

Smart Manufacturing Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Smart Manufacturing Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies smart manufacturing companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the smart manufacturing companies profiled in this report include-

• ABB
• Emerson Electric
• Fanuc
• General Electric
• Honeywell International
• Mitsubishi Electric
• Robert Bosch
• Rockwell Automation
• Schneider Electric
• Siemens

Smart Manufacturing Market Insights

Lucintel forecasts that product lifecycle management will remain the largest segment due to its widespread usage to manage all stages of a product's lifecycle, from design and engineering to manufacturing, service, and end-of-life disposal.

Within this market, automotive will remain the largest segment due to substantial demand for smart manufacturing in this sector to balance supply and demand, improve product design, maximize manufacturing efficiency, and reduce waste.

APAC will remain the largest region due to emergence of industry 4.0, existence of major manufacturing units, and presence of key players in the region.

Features of the Global Smart Manufacturing Market

Market Size Estimates: Smart manufacturing market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Smart manufacturing market size by component, application, end use industry, and region in terms of value ($B).

Regional Analysis: Smart manufacturing market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different component, application, end use industry, and regions for the smart manufacturing market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the smart manufacturing market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the smart manufacturing market size?

Answer: The global smart manufacturing market is expected to reach an estimated $593.5 billion by 2030.

Q2. What is the growth forecast for smart manufacturing market?

Answer: The global smart manufacturing market is expected to grow with a CAGR of 13.5% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the smart manufacturing market?

Answer: The major drivers for this market are rising demand for software based manufacturing systems and growing preference for IoT and cloud technology based factories.

Q4. What are the major segments for smart manufacturing market?

Answer: The future of the smart manufacturing market looks promising with opportunities in the automotive, aerospace and defense, chemical and material, healthcare, industrial equipment, electronics, food & agriculture, and oil & gas sectors.

Q5. Who are the key smart manufacturing market companies?

Answer: Some of the key smart manufacturing companies are as follows:

• ABB
• Emerson Electric
• Fanuc
• General Electric
• Honeywell International
• Mitsubishi Electric
• Robert Bosch
• Rockwell Automation
• Schneider Electric
• Siemens

Q6. Which smart manufacturing market segment will be the largest in future?

Answer: Lucintel forecasts that product lifecycle management will remain the largest segment due to its widespread usage to manage all stages of a product's lifecycle, from design and engineering to manufacturing, service, and end-of-life disposal.

Q7. In smart manufacturing market, which region is expected to be the largest in next 5 years?

Answer: APAC will remain the largest region due to emergence of industry 4.0, existence of major manufacturing units, and presence of key players in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the smart manufacturing market by component (hardware, software, and services), application (machine execution system, programmable logic controller, enterprise resource planning, SCADA, discrete control systems, human machine interface, machine vision, 3D printing, product lifecycle management, and plant asset management), end use industry (automotive, aerospace and defense, chemicals and materials, healthcare, industrial equipment, electronics, food & agriculture, oil & gas, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?