The global smart manufacturing market is growing at a significant CAGR of around 12.8% during the forecast period (2020-2026). The market is driven by the rising acceptance of automation in the manufacturing processes, backed by the increasing complexities in supply chain in the industries. In addition, increasing adoption of AI, IoT, industry 4.0, is offering growth opportunity to the smart manufacturing market. The market players are investing a huge amount in a wide range of innovative technologies such as robotic automation, autonomous vehicles, assistance technology, and quality control and predictive analysis. For instance, Siemen’s robotic prototype automatically reads and follows Computer-Aided Design (CAD) instructions to build the products without programming and is used in shop floor work.

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A significant rise in big data has contributed to the adoption of big data analytics in manufacturing. With the growing digitalization across the globe, big data is on a continuous rise. Big data is quickly becoming a significant element of the fourth generation of ERP technology. According to the World Economic Forum, the connected world is producing data at a pace that is unprecedented in human history. Manufacturers expect big data analytics to have a huge impact on company’s performance. To remain competitive, manufacturers are embracing big data analytics, which is driving significant growth to the market.

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The global smart manufacturing market is classified on the basis of geography,which includes North America, Europe, Asia-Pacific, and Rest of the World. North America holds a significant share in the global smart manufacturing market. The US plays the critical role in geographic contribution of North America in global smart manufacturing market,attributed to the increasing application of automation in the automotive and pharmaceutical industry. The region has well-developed ICT infrastructure and has witnessed huge adoption of a large number of connected devices. The presence of key market players in the region, such as IBM Corp. and Emerson Electric Co., further gives a boost to the growth of the market in the region. In addition, the government support is also contributing to the market growth. For instance, in February 2019, the US president signed an executive order for the American AI initiative. The federal government will play a crucial role to facilitate AI R&D and develop and deploy AI-associated technologies.

Global Smart Manufacturing Market – Segmentation
by Component
Hardware
Software & Services

by Technology
Programmable Logic Controller (PLC)
Supervisory Controller and Data Acquisition (SCADA)
Machine Vision
Distributed Control System (DCS)
Product Lifecycle Management (PLM)
Others (3D Printing)

by End-Use Industry
Healthcare
Automotive
Aerospace & Defense
Oil & Gas
Food & Beverages
Others (Chemical and Metals and Mining)

Global Smart Manufacturing Market – Segmentation by Region 
North America 
United States
Canada
Europe
Germany
United Kingdom
France
Spain
Italy
Rest of Europe
Asia-Pacific 
China
Japan
India
Rest of Asia-Pacific
Rest of the World
Company Profiles
ABB Ltd.
Cisco Systems, Inc.
DXC Technology Co.
Emerson Electric Co.
Fanuc Corp.
Fujitsu Ltd.
General Electric Co.
Honeywell International, Inc.
IBM Corp.
Intel Corp.
Larsen & Toubro Infotech Ltd.
Mitsubishi Electric Corp.
Oracle Corp.
Robert Bosch GmbH
Rockwell Automation, Inc.
SAP SE
Schneider Electric SE
Siemens AG
Wipro Ltd.
Yokogawa Electric Corp.

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