Skip to main content

Global Smart Manufacturing Market: Asia Pacific to Dominate Uptake, Observes TMR

Smart Manufacturing Market: Snapshot
Smart manufacturing technologies use the best of operating technologies (OT) and information technology (IT). The developers of smart manufacturing technologies have integrated both the processes to create an intelligent optimization and assembling of physical, business, and digital methods for ironing out the creases in the value chain of manufacturing. These processes also utilize human ingenuity with information technology to create manufacturing intelligence for achieving optimum results. Adoption of these technologies has completely transformed ways of manufacturing, selling products, and shipping.
The research report indicates that the global smart manufacturing market is expected to be worth US$548.14 bn by the end of 2024, rising up from US$159.05 bn in 2015. During the forecast period of 2016 to 2024, the global market is anticipated to surge at a CAGR of 13.2%. The mammoth amount of manufacturing activities in the past few years has made it incredibly difficult for multinational organizations to effectively manage their value chain. Therefore, companies are outsourcing their manufacturing operations to third parties, who offer smart manufacturing services, which, in turn, has boosted the overall market.
Furthermore, regional expansion is a key strategy for many organizations. In order to achieve this, MNCs have invested in distribution centers at strategic locations around the world. These centers need effective smart manufacturing services, thus fueling the demand generated for smart manufacturing. The market is also thriving due to the application of innovative digitization in developing smart manufacturing technologies such as the programmable logic controller, supervisory controller, and data acquisition.
Global Market Picks Up Momentum as End Users Incline toward Enterprise Resource Planning
On the basis of technology, the global smart manufacturing market is segmented into manufacturing execution system (MES), supervisory controller and data acquisition (SCADA), programmable logic controller (PLC), enterprise resource planning (ERP), distributed control system (DCS), machine vision, and human machine interface (HMI). Of these, the enterprise resource planning is the popularly used smart manufacturing technology across the globe. The prolific economic development of several countries across the globe and easy social integration of this technology have boosted its adoption rate in the past few years. The booming defense and aerospace sector is also anticipated to take up enterprise planning solutions for upgrading its manufacturing processes, thereby lending a magnificent impetus to the technology segment.
This 129-page report gives readers a comprehensive overview of Smart Manufacturing Market. Browse to unlock the hidden opportunities in this market@
Stress on Manufacturing Activities in Asia Pacific Fuels Region’s Growth
In terms of regions, the global smart manufacturing market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Among all the regions, Asia Pacific held a lion’s share of 39% in the overall market in terms of revenue in 2015. North America closely followed this lead in the same year. The research indicates, that North America and Asia Pacific will continue to hold a dominating stance in the overall market as both these regions will offer lucrative opportunities to the smart manufacturing players. The increasing stress by governments of developing economies to focus on manufacturing activities is anticipated to build a strong case for the growth of smart manufacturing market in Asia Pacific.
The regions are poised to witness a steady uptake of smart manufacturing in the automotive industry and in the production of consumer electronics, which are anticipated to stir the demand for these technologies in the near future.
The leading players operating in the global smart manufacturing market are Honeywell International, Inc., Siemens AG, Johnson Controls, Inc., ABB Ltd., Emerson Electric Company, General Electric Company, Rockwell Automation, Schneider Electric, Fanuc Corp., Atos SE.

Comments

Post a Comment

Popular posts from this blog

Wi-Fi Chipset Market Poised for an Explosive Growth in the Near Future

Wi-Fi is a technology based on the IEEE 802.11 standard which connects two or more devices using wireless communication within a limited area such as office building, school, home, or computer laboratory. Usage of Wi-Fi has increased significantly in residential and commercial places since the last several years due to the ease of its installation and operation. Currently, a number of devices including video-game consoles, digital cameras, digital audio players, digital printers, smart TVs, tablets, phones, and personal computers are available with built-in Wi-Fi technology. These devices can connect to the internet with the help of wireless access point or wireless LAN (Local Area Network) and can provide control and monitoring of a system from a remote location. Wi-Fi chipsets usually operate in 2.4 gigahertz UHF (Ultra High Frequency) band and 5.8 gigahertz SHF (Super high frequency) band. Wi-Fi Alliance, comprising more than 375 organizations worldwide, establishes and enforces W...
Post a Comment
Read more

Keyless Entry System Market: Industry Outlook, Growth Prospects and Key Opportunities

Keyless entry system is technology that provides physical access to an individual inside any premises or automotive without the use of a mechanical key for performing the locking and unlocking operation. Keyless entry system provides an enhanced convenience and security to the users. In case of a keyless entry system, the users get secure and authorized access to an automotive or premise with the use of various external devices or gesture such as a keyless fob or a smart card, or by the use of their own voice, fingerprints or facial recognition among others. Owing to rapidly increasing adoption of smart technologies across various application sectors, keyless entry systems is increasingly installed among users especially in the transportation sector, government sector, banking financial services and insurance (BFSI) sectors and hospitality industry among others. The global Keyless Entry System market is anticipated to experience a robust growth during the forecast period from 2017 to...
Post a Comment
Read more

Automotive Leaf Spring Suspension Market - Business Strategies and Recent Development

Key priorities of automotive manufacturers include increasing operational performance, improving drivability, and ensuring the safe transport of cargo and passengers. Increasing acceptance of hybrid and electric vehicles and integration of smart and connected technologies have prompted manufacturers to focus on improving the power and drivetrain systems such as clutch, transmission, propeller shaft, axle, and leaf springs. Leaf springs are located between the wheels and the body of the vehicle. When the wheel passes over a bump, it rises and deflects the spring; thereby, storing the energy in the spring. On releasing, due to the elasticity of the spring, it rebounds thereby expanding the stored energy. Increase in demand for automobiles globally, is driving the leaf spring market. The leaf springs are primarily used in light, medium, and heavy-duty commercial vehicles such as pick-up trucks and vans. Some passenger car manufacturers rely on use of leaf spring technology for bet...
Post a Comment
Read more