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Market Overview
Important data on the current and anticipated revenues of key international industry participants, as well as the goods they provide as part of the Industry 4.0: Smart Manufacturing Market landscape, will also be included in our in-depth analysis. The report provides an easy-to-understand breakdown of competitive frameworks like Porter’s Five Forces analysis, SWOT analysis, and PESTLE analysis to provide a deeper understanding of the numerous aspects that support the research findings.
The Smart Manufacturing Market is expected to expand at a compound annual growth rate (CAGR) of 15.75% during the 2018-2023 period.
Key Companies Covered in the Industry 4.0: Smart Manufacturing Market Research are KUKA, ABB Ltd, Cisco Systems, Inc., IBM Security, The Raytheon Company, Stratasys, Ltd., The Emerson Electric Co., Alpine Data Labs, SAP SE, Maersk and other key market players.
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Need for data-driven decision making, intense cost competition, and streamlining of manufacturing processes for higher productivity are the key driving forces of this market.
Application segment insights:
Advancements in digital technologies such as machine learning, machine vision, and motion control, have led to the higher adoption of industrial automation in several sectors, with greater prominence in the automotive sector. The industrial 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 ofsmart manufacturingis 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.
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
By Geography
North America garnered a substantial market share in the Industry 4.0: Smart Manufacturing Market, due to growing demand for Industry 4.0: Smart Manufacturing Market products, and rising disposable income, followed by Latin America, Europe, and the Middle East & Africa respectively.
Presently, the Asia Pacific region conquers the Industry 4.0: Smart Manufacturing Market.
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List of Factors Covered in the Report are:
Major Strategic Developments:The report abides by quality and quantity. It covers the major strategic market developments, including R&D, M&A, agreements, new products launch, collaborations, partnerships, joint ventures, and geographical expansion, accompanied by a list of the prominent industry players thriving in the market on a national and international level.
Key Market Features:
Major subjects like revenue, capacity, price, rate, production rate, gross production, capacity utilization, consumption, cost, CAGR, import/export, supply/demand, market share, and gross margin are all assessed in the research and mentioned in the study. It also documents a thorough analysis of the most important market factors and their most recent developments, combined with the pertinent market segments and sub-segments.
List of Highlights & Approach
The report is made using a variety of efficient analytical methodologies that offers readers an in-depth research and evaluation on the leading market players and comprehensive insight on what place they are holding within the industry. Analytical techniques, such as Porter’s five forces analysis, feasibility studies, SWOT analysis, and ROI analyses, are put to use to examine the development of the major market players.
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