How big is the Global Smart Manufacturing Market?

The Global Smart Manufacturing Market size is expected to reach USD 141.39 billion in 2024 and grow at a CAGR of 14.58% to reach USD 279.23 billion by 2029. Read More

What is the current Global Smart Manufacturing Market size?

In 2024, the Global Smart Manufacturing Market size is expected to reach USD 141.39 billion. Read More

Who are the key players in Global Smart Manufacturing Market?

ABB Ltd., Emerson Electric Company, Fanuc Corporation, General Electric Company and Honeywell International Inc. are the major companies operating in the Global Smart Manufacturing Market. Read More

Which is the fastest growing region in Global Smart Manufacturing Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Global Smart Manufacturing Market?

In 2024, the North America accounts for the largest market share in Global Smart Manufacturing Market. Read More

What years does this Global Smart Manufacturing Market cover, and what was the market size in 2023?

In 2023, the Global Smart Manufacturing Market size was estimated at USD 120.78 billion. The report covers the Global Smart Manufacturing Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Smart Manufacturing Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Smart Manufacturing Market - Size, Report & Industry Trends

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

The Report Covers Global Smart Manufacturing Market Statistics & Analysis. The Market is Segmented by Technology (Programmable Logic Controller (PLC), Supervisory Controller and Data Acquisition (SCADA), Enterprise Resource and Planning (ERP), Distributed Control System (DCS), Human Machine Interface (HMI), Product Lifecycle Management (PLM), Manufacturing Execution System (MES)), Component (Machine Vision System, Control Devices, Robotics, Communication Segment, Sensor), End-User Industry (Automotive, Semiconductors, Oil and Gas, Chemical and Petrochemical, Pharmaceutical, Aerospace and Defense, Food and Beverage, Metals and Mining), and Geography(North America, Europe, Asia-Pacific, Middle East and Africa and Latin America). The Report Offers the Market Size in Value Terms in USD for all the Above Mentioned Segments.

Smart Manufacturing Industry Overview

The smart manufacturing market is highly competitive and consists of several major players. The major players with star shares in the market focus on expanding their customer base across foreign countries. The companies leverage strategic collaborative initiatives to increase their market share and profitability. The companies operating in the market are also acquiring start-ups working on autonomous delivery robot technologies to strengthen their product capabilities.

In May 2023, Mitsubishi Electric Corporation announced to make a strategic investment in Clearpath Robotics to support the development of manufacturing automation. Clearpath Robotics specializes in developing and selling autonomous mobile robots (AMR). Through this investment, the company will strengthen its support for complete factory optimization and automation by utilizing AMR systems.

In March 2023, Honeywell International, Inc. announced introducing Honeywell Universal Robotics Controller (HURC) to control disparate robotics and automation systems and facilitate the seamless exchange of data and communications. The company will demo robotic and automation solutions at ProMat 2023 in Chicago.