The Global Smart Manufacturing Platform Market is projected to reach USD 29.15 billion by 2028, growing at a CAGR of 22.3% during the forecast period. A smart manufacturing platform makes use of computer integrated manufacturing with high levels of adaptability. Smart manufacturing enables to make rapid changes in design, unlike conventional processes. It employs the use of digital information technology & allows flexible training of the workforce. This can be used in the case of Smart Factory which has interoperable systems, smart cybersecurity, highly accurate automation systems, and networked sensors.
Smart Manufacturing Platform Market
Process industries are the principal end-users of smart manufacturing platform. Oil & gas, chemical, food & beverages, and pharmaceutical are some of the process industries. Electrical systems such as SCADA (Supervisory Control and Data Acquisition Systems) make extensive use of smart manufacturing platform. Smart manufacturing platforms provide the data needed to optimize utilization, improve quality and performance, reduce waste and maximize profit. The data can be fetched by various electronic devices like PC's, Laptops, mobile phones, and grid servers. The device manufacturing sub-segment recorded the most revenue among all other segments with regards to smart manufacturing platform. An increase in industrial IoT solutions necessitates the use of a number of IoT devices in industries or plants. As the amount of linked appliances continues to increase to provide more information, it is also anticipated that the general operating efficiency will increase in tandem. To monitor and maintain the health, connectivity, and safety of IoT systems, effective device management is crucial.
The Asia Pacific region is witnessing the highest amount of growth in the smart manufacturing platform market, with a similar trend projected to continue during the forecast period. The growth of electronics, automotive & construction industries facilitates the growth of the smart manufacturing platform market in this region. The North American & European regions are also showing positive growth in the smart manufacturing platform market owing to the widespread use of automation systems across all major process industries. The Middle East is still an emerging player in the smart manufacturing platform market.
Key Factors Impacting the Growth of Smart Manufacturing Platform Market:
- Increased use in process industries owing to high efficiency, low costs & less dependence on manpower
- Increasing use of IOT based systems
- Changing population job choices with a reduction in the desirability of menial jobs
Key Developments in the Smart Manufacturing Platform Market:
- In June 2018, PTC (US) and Rockwell Automation, Inc. (US) announced a definitive agreement for a strategic partnership to accelerate the growth of both companies
- In July 2018, Siemens (Germany) and Alibaba Cloud (China) entered into a partnership to foster the industrial Internet of Things (IIoT) in China
- In July 2018, GE (US) and Microsoft (US) entered into their largest partnership to date, accelerating industrial IoT adoption for customers
- In December 2018, Fujitsu (Japan) announced a strategic collaboration with Amazon Web Services (US) enabling its customers to move their IT estates to the market-leading AWS Cloud
- In April 2018, Microsoft (US) and C3 IoT (US) entered into an allied partnership to introduce new technology developments that accelerate enterprise AI and IoT application development
What Does This Report Provide?
This report provides a detailed understanding of the global smart manufacturing platform market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with a potential impact on the smart manufacturing platform market during the forecast period and an in-depth analysis of the leading companies operating in the smart manufacturing platform market.
- Device & Connectivity Management
- Asset & Condition Management
By End-Use Industry :
- By Country (US, Canada, Mexico)
- By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
- By Country (Russia, Turkey, Rest of Eastern Europe)
- By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
- By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
- By Region (South America, Africa)
Companies Covered: Major Companies profiled in the report which are key players in the global smart manufacturing platform market include Microsoft Corporation, IBM Corporation, PTC Inc., SAP SE, Hitachi, Ltd., Amazon.com, Inc., Siemens AG, Schneider Electric SE, ABB Group, Emerson Electric Co., Fujitsu Ltd., Accenture PLC, Robert Bosch GmbH, Oracle Corporation, Cisco Systems, Inc., Rockwell Automation, Inc., Atos SE, C3 IoT, Telit Communications PLC, Software AG, Seebo Interactive Ltd., QiO Technologies, Altizon Systems, Losant, Litmus Automation, and Flutura Decision Sciences, and Analytics.
Years Considered In The Study
CAGR % (2019-2028)
Reasons to Buy This Report:
- Market size estimation of the global smart manufacturing platform market on a regional and global basis.
- The unique research design for market size estimation and forecast.
- Profiling of major companies operating in the smart manufacturing platform market with key developments.
- Broad scope to cover all the possible segments helping every stakeholder in the smart manufacturing platform market.
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