Smart Manufacturing Market Growth Outlook, Key Vendors, Future Scenario Forecast 2027


Posted May 18, 2022 by avinashgogawale14

The Smart Manufacturing Market was valued at USD 88.7 billion in 2021 and is projected to reach USD 228.2 billion by 2027; it is expected to grow at a CAGR of 18.5% from 2022 to 2027.
 
The Smart Manufacturing Market was valued at USD 88.7 billion in 2021 and is projected to reach USD 228.2 billion by 2027; it is expected to grow at a CAGR of 18.5% from 2022 to 2027. In terms of volume of industrial robots, the industrial robots market registered a shipment of 351 thousand units in 2020 and is expected to grow at a CAGR of 16.1% to reach 817 thousand units by 2026. The major drivers of the Smart Manufacturing Market include the growing adoption of Industry 4.0, rising emphasis on industrial automation in manufacturing processes, increasing government involvement in supporting industrial automation, growing emphasis on regulatory compliances, increasing complexities in the supply chain, and surging demand for software systems that reduce time and cost. The Smart Manufacturing Market has been segmented by information technology, enabling technology, industry, and region.

Major companies offering Smart Manufacturing Technologies include ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Rockwell Automation (US), Honeywell International Inc. (US), Emerson Electric Co. (US), IBM (US), and General Electric (US). Many major companies focus on implementing organic growth strategies, such as product launches, and inorganic strategies, such as partnership and expansions, to increase their revenue.

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Top 5 Players in Smart Manufacturing Market:

Schneider Electric

Schneider Electric is a European multinational corporation specializing in energy management and automation solutions. The company caters to the residential and commercial buildings and industry segments. Schneider Electric operates through the Energy Management (medium voltage, low voltage, and secure power) and Smart manufacturing segments and operates in four principal markets: non-residential and residential buildings, utilities and infrastructure, industry and machine manufacturers, and data centers and networks. Schneider provides an OASyS dynamic network of applications (DNA) based on real-time SCADA solutions. OASyS DNA offers real-time data related to field activities through enterprise networks. The company serves automotive, oil & gas, food & beverages, mining and minerals, and network & data centers industries. The company has many subsidiaries across the world; the major ones include Schneider (US), Scimedmedizentechnik (Germany), Schneider (Europe) GmbH (Switzerland), Schneider Belgium NV (Belgium), and Schneider Electric (India).

Siemens

Siemens is a leading conglomerate pioneer in electrical engineering. The company is well known for establishing major electrical infrastructure, trains and railways electrification, smart manufacturing, motors and drives, and healthcare diagnostics machines. Siemens operates through four reportable segments, namely, Digital Industries, Smart Infrastructure, Mobility, and Siemens Healthineers. Siemens provides a complete range of automation products and components—from field devices such as industrial control equipment, sensors and process analysis equipment, to plant-level software such as plant operations management and plant performance analytics software solutions. The company has a wide geographic presence, mainly across regions such as the Americas, Europe, Asia, Australia, CIS, Africa, and the Middle East. It is listed on the Frankfurt Stock Exchange as FWB: SIE.

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Emerson Electric Co.

Emerson Electric Co. is a manufacturer of electric motors and fans. The company was founded as The Emerson Electric Manufacturing Company in St. Louis, Missouri, US. Emerson is primarily engaged in the manufacturing and development of process control systems, valves, and analytical instruments. It delivers products and services to industrial, commercial, and consumer markets. The company operates through two business segments, namely, Automation Solutions and Commercial & Residential Solutions. The company offers the Plantweb digital ecosystem which enables measurable performance improvement in the areas of production, reliability, safety, and energy management by empowering personnel with new insights and actionable information. The company is listed on the New York Stock Exchange as NYSE: EMR. The company has geographic presence in the US, Canada, Asia, Europe, the Middle East/Africa, and Latin America.

Honeywell International, Inc.

Honeywell International Inc. offers manufacturing products, solutions, and services. It operates through 4 segments: Aerospace, Honeywell Building Technologies, Performance Materials & Technologies, and Safety & Productivity Solutions. Honeywell offers smart manufacturing and control solutions through its Honeywell Process Solutions (HPS) business unit. This unit provides services for oil & gas, refining, power generation, chemicals, pulp and paper, metals, minerals, and mining industries. Honeywell UOP, a Honeywell company, formerly known as UOP LLC or Universal Oil Products, provides software services and technologies to the refining, petrochemicals, and oil & gas industries. Honeywell UOP and HPS together provide fully integrated solutions to customers to improve the safety of manufacturing plants. Honeywell have global presence in North America, Europe, Middle East, Asia Pacific, Africa and South America.

Rockwell Automation Inc

Rockwell Automation is one of the largest companies offering power, control, and information solutions for industrial automation. It operates through two business segments: Architecture & Software and Control Products & Solutions. The Architecture & Software segment of the company offers hardware, software, and communication components. The products and services offered through this segment can control industrial processes and handle enterprise information. The company offers industrial sensors under the brand name Allen-Bradley. The sensors and devices offerings of the company consists of presence-sensing devices, limit switches, and condition-sensing devices. Industrial automation sensors come under condition sensing devices. The company also provides comprehensive MES solutions in the industrial automation market. Rockwell Automation Inc. serves customers across more than 80 countries. The company garners 55% of its sales from the US, while it also has footprints in other regions globally. Other countries where the company has presence include China, Canada, Mexico, Italy, the UK, Germany, and Brazil.

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Last Updated May 18, 2022