automation segment occupied the largest market share (49%) globally, in 2017, followed by the
Industrial Internet of Things (IIoT) (33%). A concerted effort by the industrial sectors and technology
firms have resulted in innovative solutions to cater to IIoT. Smart factories have also shown steady
growth, brought about by 3D printing and distributed manufacturing control systems.
End users segment insights, The highest adoption of smart manufacturing is expected in the
aerospace sector, which will expand at a CAGR of 25% during the forecasted period. This is fuelled by
the increased production of advanced aircraft, such as the Boeing 787 and Airbus A350. Increased
use of robots in industrial control mechanisms will drive the automotive and industrial equipment
end users segment, at CAGRs of 15.6% and 11.2% respectively, during the 2018-2023 period. The
chemicals and materials, food and agriculture, and healthcare sectors are also some of the promising
areas for the implementation of smart manufacturing technologies.
Regional insights,North America is leading the innovation in the smart manufacturing market, and
occupied approximately 27% of the global market in 2017. Massive investments in smart
manufacturing technologies, tax subsidies for manufacturers, and innovations in robotics have
fuelled the growth of the smart manufacturing market in the region. Asia-Pacific, experiencing high
industrialization, occupied a 25% share in 2017. The Latin America and the Middle East and Africa
markets though, still at nascent stages, are experiencing decent growth
Some of the major players that operate in the Global Smart Manufacturing Market are
1. KUKA
2. ABB Ltd
3. Cisco Systems, Inc.
4. IBM Security
5. The Raytheon Company
6. Stratasys, Ltd and More……
Smart Manufacturing Questions Answered in this Report:
1. What will the Smart Manufacturing Market size be in 2023?
2. What are the KUKA,ABB, Cisco, IBM, Stratasys factors driving the Global Smart Manufacturing
Market?
3. What are the challenges to market growth?
4. Who are the KUKA,ABB, Cisco, IBM, Stratasys players in the Global Smart Manufacturing Market?
5. What are the market opportunities and threats faced by the Smart Manufacturing players?
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