Press Release

Smart Manufacturing Market 2019 Significant Growth Rate by Industry Size, Share, Market Dynamics, Development Status of Key Players Forecast to 2024

Smart

The “Smart Manufacturing Market” 2019 report provides market size (value and volume), market share, growth rate by types, applications, and combines both qualitative and quantitative methods to make micro and macro forecasts in different regions or countries. Smart Manufacturing Market report also aims to provide useful and comprehensive insights into current market trends and future growth scenarios. Smart Manufacturing market report contains information like SWOT analysis, business highlights, strength, weakness, threats and opportunities of industry.

Top Manufacturers of Smart Manufacturing Market Are:

  • General Electric Co.
  • Honeywell International Inc.
  • Texas Instruments Incorporated
  • Mitsubishi Electric Corporation
  • Robert Bosch GmbH
  • Emerson Electric Company
  • Fanuc Corp.
  • Rockwell Automation Inc.
  • Schneider Electric SE
  • Siemens Corporation
  • Texas Instruments
  • Yokogawa Electric Corporation

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    Market Overview:

  • The smart manufacturing market is expected to register a CAGR of over 9.8% during the forecast period, 2019 – 2024. Industrial automation is expected to grow as battery-operated RF is more extensively adopted, which are sensors that have recently been made available in the market. An example of such a device is a wireless switch that has a ten-year battery lifespan from Digi-Key Electronics. The Internet of Things is driving change in industrial automation. In Germany, the Industrial Internet of Things initiative is taking hold as many new suppliers are entering the market. Moreover, big data and the computing platforms that aggregate and report data together form another area of growth.
  • Electronics maker e-magazine estimates that 30% of all new robotic deployments are expected to be smart, collaborative robots that operate three times faster than today’s robots, and are also likely to be safe for working around humans. Collaborative robots had a positive effect on production. MIT researchers found that cobot-human teams were about 85% more productive than either alone at BMW. In December 2017, KUKA and SAP announced that they will work together around Industrial 4.0 and Industrial Internet of Things (IIoT) and collaborate in the areas of manufacturing, mechanical engineering, and the automotive sector to promote the flexibility and automation of production processes.
  • The impact of robotics is not just in the space of cobots, but also in other areas of IIoT. The estimate for the global robotics industry is expected to exceed USD 151 billion by 2020, driving automation, pushing the demand, and making the industry more ready for smart manufacturing adoption and implementation.
  • A connected and centralized control system includes some electronic components that are essential for signaling and controlling of the automation systems. Some translate the data from the industrial control systems into human-readable visual representations of the systems.
  • Through these systems, the operator can see schematics of the systems, turn pumps and switches of machineries on or off, raise or lower temperatures, start air flow or stop it, etc. The software assisting these technologies are usually deployed on Windows-based machines, communicating with programmable logic controllers (PLC) and other industrial controllers. Industrial control systems (ICS) are integrated hardware and software, specially designed to monitor and control the operation of industrial machinery and associated devices in working environments, including those that are designated as critical infrastructure.

    Scope of the Report:

  • The smart manufacturing leadership coalition’s (SMLC) definition states, Smart manufacturing is the ability to solve existing and future problems via an open infrastructure that allows solutions to be implemented at the speed of business while creating advantaged value. The term smart encompasses enterprises that create and use data and information throughout the product life cycle with the goal of creating flexible manufacturing processes that respond rapidly to changes in demand, at low cost to the firm, without damage to the environment. The concept necessitates a life-cycle view, where products are designed for efficient production and recyclability.
  • Smart manufacturing utilizes big?data?analytics to refine complicated processes and manage supply?chains. Big data analytics allows an enterprise to use smart manufacturing to shift from reactionary practices to predictive ones, a change that targets improved efficiency of the process and performance of the product.

    Smart Manufacturing Market Report Answers the Following Questions:

    • What will the market size and the growth rate be in 2024?
    • What are the key factors driving the global Smart Manufacturing market?
    • What are the key market trends impacting the growth of the global Smart Manufacturing market?
    • What are the challenges to market growth?
    • Who are the key vendors in the global Smart Manufacturing market?
    • What are the market opportunities and threats faced by the vendors in the global Smart Manufacturing market?
    • Trending factors influencing the market shares of the relevant regions.
    • What are the key outcomes of the five forces analysis of the global Smart Manufacturing market?

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    Key Market Trends:

    Aerospace and Defence Expected to Register Significant Growth

    According to a survey conducted by Capgemini, as of March 2017, 62% of aerospace and defense companies had a smart manufacturing initiative. The survey indicated the dominance of the aerospace and defense sector over the automotive, energy, and utility industries.

    The aerospace and defense manufacturers need to organize and manage the expensive assets and operations that involve complex processes. The manufacturers often use various systems to manage these processes, but the real-time visibility of the operations is very low. The lack of real-time visibility makes the optimizing processes and the need to reduce costs serious challenges for the aerospace and defense manufacturers.

    Every phase in the assembly process provides an opportunity to add value or reduce risk. Smart factory identifies the assets and connects this information, accurately, with data from the existing plant systems and devices. Hence, this real-time data helps in recognizing any flaw in the aerospace assembly operation. Smart factory enhances the quality control procedures and provides various insights to improve aerospace production operation.

    United States to Witness Significant Growth

    The United States is on the verge of the fourth industrial revolution, where data is being used on a large scale for production while integrating the data with a wide variety of manufacturing systems throughout the supply chain.

    The United States is also one of the largest automotive markets in the world and is home to over 13 major auto manufacturers. Automotive manufacturing has been one of the largest revenue generators for the country in the manufacturing sector. The formation of the “Advanced Manufacturing Partnership (AMP)” is an initiative undertaken to make the industry, universities, and the federal government invest in emerging technologies.

    This has aided the country to substantially gain a competitive edge in the global economy. The National Network for Manufacturing Innovation (NNMI) consists of developing regional hubs, which will be involved in developing and adopting cutting-edge manufacturing technologies for making innovative products, to be implemented in the manufacturing sector. The development of the next-generation, energy-efficient, high-power electronic chips and devices (by making wide-bandgap semiconductor technologies, which are expected to be cost-competitive with current silicon-based power electronics during the forecast period) is expected to aid in fostering the growth of the market.

    Market Dynamics: –

    • Drivers: (Developing regions and growing markets)
    • Limitations: (Regional, Key Player facing Issues, Future Barriers for growth)
    • Opportunities: (Regional, Growth Rate, Competitive, Consumption)

    The report provides key statistics on the market status of the Smart Manufacturing Market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the Smart Manufacturing .

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    Report Objectives:

    • Analyzing the size of the Smart Manufacturing market on the basis of value and volume.
    • Accurately calculating the market segments, consumption, and other dynamic factors of different sections of the global Smart Manufacturing market.
    • Determining the key dynamics of the Smart Manufacturing market.
    • Highlighting significant trends of the Smart Manufacturing market in terms of manufacture, revenue, and sales.
    • Deeply summarizing top players of the Smart Manufacturing market and showing how they compete in the industry.
    • Studying industry processes and costs, product pricing, and various trends related to them.
    • Displaying the performance of different regions and countries in the global Smart Manufacturing market.

    Detailed TOC of Smart Manufacturing Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Introduction to Market Drivers and Restraints
    4.3 Market Drivers
    4.3.1 Increasing Demand for Automation to Achieve Efficiency and Quality
    4.3.2 Need for Compliance and Government Support for Digitization
    4.3.3 Proliferation of Internet of Things
    4.4 Market Restraints
    4.4.1 Concerns Regarding Data Security
    4.5 Value Chain Analysis
    4.6 Industry Attractiveness Porter’s Five Forces Analysis
    4.6.1 Threat of New Entrants
    4.6.2 Bargaining Power of Buyers/Consumers
    4.6.3 Bargaining Power of Suppliers
    4.6.4 Threat of Substitute Products
    4.6.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 By Technology
    5.1.1 Distributed Control System
    5.1.2 Enterprise Resource and Planning
    5.1.3 Smart Manufacturing
    5.1.4 Manufacturing Execution System
    5.1.5 Programmable Logic Controller
    5.1.6 Supervisory Controller and Data Acquisition
    5.1.7 Other Technologies
    5.2 By Component
    5.2.1 Communication Segment
    5.2.2 Control Device
    5.2.3 Machine Vision Systems
    5.2.4 Robotics
    5.2.5 Sensor
    5.2.6 Other Components
    5.3 By End-user Industry
    5.3.1 Aerospace and Defense
    5.3.2 Automotive
    5.3.3 Chemical and Petrochemical
    5.3.4 Food and Beverage
    5.3.5 Mining
    5.3.6 Oil and Gas
    5.3.7 Pharmaceutical
    5.3.8 Semiconductor
    5.3.9 Other End-user Industries
    5.4 Geography
    5.4.1 North America
    5.4.1.1 United States
    5.4.1.2 Canada
    5.4.2 Europe
    5.4.2.1 Germany
    5.4.2.2 United Kingdom
    5.4.2.3 Rest of Europe
    5.4.3 Asia-Pacific
    5.4.3.1 China
    5.4.3.2 Japan
    5.4.3.3 India
    5.4.3.4 Rest of Asia-Pacific
    5.4.4 Latin America
    5.4.4.1 Brazil
    5.4.4.2 Argentina
    5.4.4.3 Rest of Latin America
    5.4.5 Middle East & Africa

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 General Electric Co.
    6.1.2 Honeywell International Inc.
    6.1.3 Texas Instruments Incorporated
    6.1.4 Mitsubishi Electric Corporation
    6.1.5 Robert Bosch GmbH
    6.1.6 Emerson Electric Company
    6.1.7 Fanuc Corp.
    6.1.8 Rockwell Automation Inc.
    6.1.9 Schneider Electric SE
    6.1.10 Siemens Corporation
    6.1.11 Texas Instruments
    6.1.12 Yokogawa Electric Corporation

    7 INVESTMENT ANALYSIS

    8 MARKET OPPORTUNITIES AND FUTURE TRENDS

     

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    Name: Ajay More

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    Alfredo Epps is a finance expert heading the petroleum column. He joined the group last year as an associate writer. But his thorough research skills and ability to seamlessly putting numerical data into words helped him get a senior position. Apart from a column head, Alfredo is a dancer and a violinist.

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