Global Smart Manufacturing Market, Forecast to 2025, and Covid-19 Impact

The global smart manufacturing market is estimated to grow from USD 163.9 billion in 2020 to USD 268.8 billion by 2025, growing at a CAGR of 10.0% from 2020 to 2025. However, due to the COVID 19 challenges, the market in 2020 is expected to decline marginally. Closure of businesses, manufacturing facilities and commercial activities, disruptions in supply chain activities and CAPEX cuts were some challenges of COVID 19. As a result, companies’ budgets for smart manufacturing are expected to decrease in 2020.

Scope of the report

• The report extensively covers the growth drivers and challenges of the Smart Manufacturing market to understand the trends globally
• Understand the changing market dynamics due to COVID-19, and industrial impact
• Understand the structure of manufacturing market by identifying its various sub segments on the basis on enabling technologies, and end user segments
• Analysis of the competitive landscape encompassing key players, and identify their strategic focus to help benchmark competitive performances
• To understand types of enabling technologies dominating the market and understand highly growing solutions in the coming years

Factors driving the smart manufacturing market include growing adoption of Industry 4.0, rising emphasis on industrial automation in manufacturing processes, growing government support for industrial automation, emphasis on regulatory compliances, decreasing complexities in supply chains, and surging demand for software and automated systems.

The global smart manufacturing market is segmented based on enabling technologies, components, end use verticals, and by region In terms of enabling technologies, the market is segmented into IIoT, Artificial Intelligence (AI), 3D Printing, Industrial machine vision, Collaborative robot, Machine condition monitoring, Others (Automated guided vehicles, AR&VR, Digital Twin) and Blockchain

• IIoT technology in smart manufacturing dominated the market in 2019 with around 24% share in the global market. With various applications using IIoT to improve manufacturing and process industries, it is also projected to be among the fastest growing segments.
• IIoT devices & technologies comprise of sensors, RFID, industrial robotics, distributed control systems, condition monitoring, smart meters, electronic shelf labels, cameras, smart beacons, interface boards, yield monitors, guidance and steering, GPS/GNSS, flow and application control devices, and networking technology.

*ROW – Middle East, Africa and South America

Asia Pacific is projected to be the fastest growing regions by 2025

• The smart manufacturing market in Asia Pacific is expected to grow fastest from 2020 to 2025. The economy in the region is growing quickly with increased spending on performance improvement, security, and stability in manufacturing processes
• The region currently is witnessing a surge in the deployment of smart manufacturing technologies. China, being one of the top manufacturing countries, has been adopting enabling technologies to increase operational efficiency and production in the country
• Due to increasing maintenance costs in manufacturing, and energy & utilities; industries have been genuinely considering adopting advanced technologies such as predictive maintenance to optimize maintenance processes and reduce operational costs

End User Vertical

• In terms of industry vertical, the market is segmented into Automotive, Aerospace & Defense, Oil & Gas F&B, Pharma, Medical Devices, Semiconductors, and Others (Energy and Power, Packaging, etc.)
• The adoption of smart manufacturing is expected to grow with the increasing penetration of the industrial IoT and Artificial intelligences among the developing and developed countries.

Competitive Landscape

• Smart manufacturing market is a highly competitive consisting of several major players. However, few of the major players currently dominate the market
• Many of the key players are expanding their customer base across countries through strategic initiatives, like mergers and acquisitions, partnerships, and product innovations

The key market players include Emerson (US), Honeywell (US), Rockwell (US), ABB (Switzerland), Schneider (France), General Electric (US), Fanuc (Japan), Siemens (Germany), Mitsubishi Electric (Japan), Robert Bosch, Stratasys (Israeli), Yokogawa Electric (Japan).

1. Introduction
   1. Objectives of the Study & Summary
   2. Market Scope
   3. Research Methodology
2. Executive Summary
3. Industry Overview
   1. Impact of COVID on Manufacturing Industry
   2. Impact of COVID-19 on Smart Manufacturing
   3. Global Manufacturing Spending Outlook
   4. Impact of Covid on Manufacturing Spending 2020
   5. Global Smart Manufacturing Market
   6. Industry Growth Drivers & Challenges
4. Market & Competitive Landscape
   1. Ecosystem – Value Chain Analysis
   2. Market Composition
   3. Recent Market Developments
5. Smart Manufacturing Market Assessment (USD Billion), 2019-2025
   1. Market Assessment by Enabling Technology
      1. Overview of Industrial IoT
      2. Overview of Artificial Intelligence
      3. Overview of Collaborative Robot
      4. Overview of Blockchain
      5. Overview of 3D Printing
      6. Overview of Machine Condition Monitoring
      7. Overview of Industrial Vision Machine
      8. Overview of Others (Automated guided vehicles, AR&VR, Digital Twin)
   2. Market Assessment by End Use Vertical
   3. Market Assessment by Region
6. Supplier Profiles
   1. ABB Ltd
   2. Emerson Electric
   3. Fanuc Corporation
   4. Honeywell International Inc.
   5. Mitsubishi Electric
   6. Robert Bosch
   7. Rockwell Automation Inc.
   8. Schneider Electric
   9. Siemens AG
   10. Stratasys Ltd
   11. Yokogawa Electric
   12. General Electric
7. Appendix