APAC Smart Manufacturing Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

APAC Smart Manufacturing Industry Overview

The Asia-Pacific Smart Manufacturing Market is quite fragmented, as there are numerous international companies such as ABB Ltd., Honeywell International Inc., Siemens AG, Schneider Electric, and Robert Bosch offering various solutions related to control systems, robotics, machine vision systems, and analytics to enhance the productivity of manufacturing processes across the end-user verticals. The companies in the market are undergoing various partnerships and product innovations to increase their market share.

In March 2022, Honeywell and Oriental Energy Company Ltd. reported that a sustainable aviation fuel (SAF) production facility would be built in Maoming, Guangdong Province, in China, with an annual output capacity of 1 million tons. The new building will help meet the growing demand for SAF, make it easier to reduce greenhouse gas emissions in the production of aviation fuel through the use of new technologies, and help China reach its goal of being carbon neutral by 2060.

Siemens and NVIDIA announced in June 2022 that they would change their partnership to make the industrial metaverse possible and increase the use of AI-driven digital twin technology, which will help take industrial automation to a new level. This partnership also lets them connect Siemens Xcelerator, an open digital business platform, and NVIDIA Omniverse, a platform for 3D design and collaboration. This will create an industrial metaverse with physics-based digital models from Siemens and real-time AI from NVIDIA, which will help organizations make decisions faster and with more confidence.