Dublin, Oct. 17, 2018 (GLOBE NEWSWIRE) -- The "Smart Manufacturing Market by Enabling Technology (Condition Monitoring, Artificial Intelligence, IIoT, Digital Twin, Industrial 3D Printing), Information Technology (WMS, MES, PAM, HMI), Industry, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The smart manufacturing market is expected to be worth USD 170.78 billion by 2018 and USD 299.19 billion by 2023, growing at a CAGR of 11.9% from 2018 to 2023.
Major factors driving the growth of the smart manufacturing market include Industry 4.0, increasing use of industrial automation in manufacturing, government investments supporting industrial automation, rising emphasis on regulatory compliances, increased complexities in the supply chain, and increasing demand for software systems that reduce time and cost.
However, threats related to cybersecurity, complexities in implementing smart manufacturing systems, lack of awareness about benefits of adopting information and enabling technologies, and lack of skilled workforce pose challenges to the growth of the market.
Market for collaborative robots is expected to grow at the highest CAGR amongst enabling technologies from 2018 to 2023
The collaborative robots market is expected to grow at the highest CAGR from 2018 to 2023. Collaborative robots are used to perform autonomous or semiautonomous tasks for a variety of applications such as assembly, pick and place, handling, packaging and palletizing, quality testing, machine tending, gluing and welding, lab analysis, painting and polishing, screw driving, and injection molding. Assembly plays a vital role in manufacturing and automation.
Collaborative robots have a broad scope in assembly operations as they can grasp the basics of working easily. Collaborative robots can reduce the time of an assembly through their repeatability, accuracy, speed, reach, and material handling capacity. Collaborative robots offer the benefit of greater precision over other types of robots.
Market for enterprise manufacturing intelligence is expected to grow at the highest CAGR amongst information technologies from 2018 to 2023
In the process industry, manufacturers' aim for consistency, efficiency, and quality of process inputs to achieve the highest yield. EMI software assists these manufacturers to optimize their manufacturing processes in real-time and help drive greater yields and ensure product quality consistently. Individual or separate production units often characterize discrete industries, wherein produce is in low volume with very high complexity or in high volume with low complexity.
With continuous changes in materials, technologies, and markets, these manufacturing plants need to be highly efficient, productive, and flexible. The implementation of EMI in these sectors ensures optimal supply-chain management through the integration of production processes. It automates production processes and helps reduce manufacturing costs.
APAC to hold the largest share of the global smart manufacturing market during the forecast period
APAC is expected to hold the largest share of the smart manufacturing market from 2018 to 2023. Rapid industrialization in APAC has boosted the manufacturing sector in APAC. APAC countries have a presence of a large number of small- and mid-sized enterprises (SMEs), which employ more than 70% of the total population in the countries.
The need for huge investments for the successful implementation of industrial control systems security projects restricts SMEs from adopting a strong security practice within their organizations. However, factors such as the increasing complexity of businesses, unregulated nature of the Internet, and growth in the adoption of BYOD are expected to encourage SMEs to adopt industrial control system solutions extensively.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Growth Opportunities In Smart Manufacturing Market
4.2 Smart Manufacturing Market, By Enabling Technology
4.3 Smart Manufacturing Market, By Process Industry
4.4 Smart Manufacturing Market, By Discrete Industry
4.5 Smart Manufacturing Market In Apac, By Information Technology And Country
4.6 Smart Manufacturing Market, By Geography
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Industry 4.0
5.2.1.2 Increasing Use Of Industrial Automation In Manufacturing
5.2.1.3 Increased Government Involvement In Supporting Industrial Automation
5.2.1.4 Rising Emphasis On Regulatory Compliances
5.2.1.5 Increased Complexities In Supply Chains
5.2.1.6 Increasing Demand For Software Systems That Reduces Time And Cost
5.2.2 Restraints
5.2.2.1 High Investment And Cost Involved In Implementation
5.2.2.2 Lack Of Standardization Among Equipment Manufacturers And In Connectivity Protocols
5.2.2.3 Constant Need For Upgradation Of Software
5.2.2.4 Low Adoption Of Technologies Owing To Technical Issues
5.2.3 Opportunities
5.2.3.1 Rising Adoption Of IoT And Cloud Platforms
5.2.3.2 Integration Of Different Solutions To Provide Improved Performance
5.2.3.3 Industrial Growth In Emerging Economies
5.2.4 Challenges
5.2.4.1 Threats Related To Cybersecurity
5.2.4.2 Complexity In Implementation Of Smart Manufacturing Technology Systems
5.2.4.3 Lack Of Awareness About Benefits Of Adopting Information And Enabling Technologies
5.2.4.4 Lack Of Skilled Workforce
6 Smart Manufacturing Market, By Information Technology
6.1 Introduction
6.2 Human Machine Interface
6.2.1 By Offering
6.2.1.1 Software
6.2.1.2 Hardware
6.2.2 By Configuration Type
6.3 Enterprise Manufacturing Intelligence
6.3.1 By Offering
6.3.2 By Deployment Type
6.4 Plant Asset Management
6.4.1 By Offering
6.4.2 By Deployment
6.4.3 By Asset Type
6.5 Manufacturing Execution System
6.5.1 By Deployment Type
6.5.2 By Offering
6.6 Industrial Communications
6.6.1 By Offering
6.6.1.1 Component
6.6.1.2 Software
6.6.1.3 Services
6.6.2 Communications Protocol
6.7 Warehouse Management System
6.7.1 By Offering
6.7.2 By Implementation Type
6.7.3 By Tier Type
7 Smart Manufacturing Market, By Enabling Technology
7.1 Introduction
7.2 Industrial 3d Printing
7.2.1 By Offering
7.2.1.1 Printers
7.2.1.2 Materials
7.2.1.3 Software
7.2.1.4 Services
7.2.2 By Application
7.2.3 By Process
7.2.4 By Technology
7.3 Collaborative Robots
7.3.1 By Payload Capacity
7.3.2 By Application
7.4 Iiot
7.4.1 By Technology
7.4.2 By Software
7.5 AI In Manufacturing
7.5.1 By Offering
7.5.1.1 Hardware
7.5.1.2 Software
7.5.2 By Technology
7.5.3 By Application
7.6 Machine Condition Monitoring
7.6.1 By Monitoring Technique
7.6.2 By Offering
7.6.2.1 Hardware
7.6.2.2 Software
7.6.3 By Deployment Type
7.7 Industrial Machine Vision
7.7.1 By Component
7.7.1.1 Hardware
7.7.1.2 Software
7.7.2 By Product
7.7.3 By Application
7.8 Industrial Cybersecurity
7.8.1 By Type
7.8.2 By Product
7.8.3 By Solution And Service
7.9 Digital Twin
7.10 Automated Guided Vehicle
7.10.1 By Type
7.10.2 By Navigation Technology
7.10.3 By Application
7.10.4 By Battery Type
7.11 Blockchain In Manufacturing
7.11.1 By Application
7.12 Ar And Vr In Manufacturing
7.12.1 By Technology
7.12.1.1 Augmented Reality Technology
7.12.1.2 Virtual Reality Technology
7.12.2 By Offering
7.12.2.1 Hardware
7.12.2.2 Software
7.12.3 By Device Type
8 Smart Manufacturing Market, By Industry
8.1 Introduction
8.2 Process Industry
8.2.1 Oil & Gas
8.2.2 Food & Beverages
8.2.3 Pharmaceuticals
8.2.4 Chemicals
8.2.5 Energy & Power
8.2.6 Metals & Mining
8.2.7 Pulp & Paper
8.2.8 Others
8.3 Discrete Industry
8.3.1 Automotive
8.3.2 Aerospace & Defense
8.3.3 Semiconductor & Electronics
8.3.4 Medical Devices
8.3.5 Machine Manufacturing
8.3.6 Others
9 Geographic Analysis
10 Competitive Landscape
10.1 Overview
10.2 Market Ranking Analysis: Smart Manufacturing Market
10.3 Competitive Situation & Trends
10.3.1 Agreements, Mergers, Joint Ventures, And Partnerships
10.3.2 Product Launches & Developments
10.3.3 Expansions
10.3.4 Acquisitions
11 Company Profiles
- 3D Systems
- ABB
- Cisco
- Cognex
- Daifuku
- Emerson
- GE
- Honeywell
- IBM
- Intel
- JBT
- Keyence
- Nvidia
- Oracle
- PTC
- Rockwell
- Samsung
- SAP
- Schneider
- Siemens
- Sony
- Stratatys
- Universal Robots
- Yokogawa
For more information about this report visit https://www.researchandmarkets.com/research/r77f3n/smart?w=12
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