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Smart Manufacturing Market Forecast: $228.2 Billion Industry by 2027

The Smart Manufacturing Market is Expected Reach USD 228.2 billion by 2027 from USD 88.7 billion in 2021, at a CAGR of 18.5%.

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Smart Manufacturing Market Forecast: $228.2 Billion Industry by 2027

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  1. MarketsandMarkets Presents The Global Smart Manufacturing Market was valued at USD 88.7 billion in 2021 and is projected to reach USD 228.2 billion by 2027; it is expected to grow at a CAGR of 18.5% from 2022 to 2027. The major drivers of the Smart Manufacturing Market include the growing adoption of Industry 4.0, rising emphasis on industrial automation in manufacturing processes, increasing government involvement in supporting industrial automation, growing emphasis on regulatory compliances, increasing complexities in the supply chain, and surging demand for software systems that reduce time and cost.

  2. MarketsandMarkets Presents Market for digital twins expected to grow at the fastest rate during the forecast period The Smart Manufacturing Market by enabling technologies for digital twins is expected to grow at a CAGR of 68.9% from 2022 to 2027, reaching USD 43.6 billion by 2027, from USD 2.1 billion in 2021. Digital twins are being increasingly used as a means of connecting information about a physical product and its behavior in the real world with a 3D digital representation, which is commonly employed during engineering and other areas of business. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1054 48439

  3. MarketsandMarkets Presents Automotive Industry to hold largest share of Smart Manufacturing Market in 2027 The Automotive Industry dominates the Smart Manufacturing Market with the highest market share and is expected to grow at the rate of 29.1% during the forecast period owing to changing consumer preferences and the inefficiency of traditional processes. Changing consumer preferences, technological advancements, and the introduction of regulations associated with the automotive industry are responsible for the high complexity of automobile products. Automobiles are extremely complex and technologically sophisticated products. Speak To Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=105 448439

  4. MarketsandMarkets Presents Smart Manufacturing Market in APAC to grow at the highest CAGR The major factors driving the growth of the Smart Manufacturing Market in APAC are the rising demand for smart tools due to increasing automation in industries; growing adoption of technologies such as Industry 4.0, smart factory, IoT, and IIoT; and increasing need to optimize productivity and reduce operational and maintenance costs. Government support in various APAC countries to drive industrialization is one of the important factors that will boost the demand for smart manufacturing in the coming years. Various initiatives have been taken by the governments in the region.

  5. MarketsandMarkets Presents Key Players Major Companies offering Smart Manufacturing Technologies include ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Rockwell Automation (US), Honeywell International Inc. (US), Emerson Electric Co. (US), IBM (US), and General Electric (US). Browse For More Details - https://www.marketsandmarkets.com/Market-Reports/smart- manufacturing-market-105448439.html

  6. MarketsandMarkets Presents About MarketsandMarkets™ MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

  7. MarketsandMarkets Presents Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: sales@marketsandmarkets.com Visit Our Website: https://www.marketsandmarkets.com Content Source: https://www.marketsandmarkets.com/PressReleases/smart- manufacturing.asp

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