Smart Manufacturing Platform Market Size, Share, Growth 2026

 

The Smart Manufacturing Platform Market is expected to reach USD 14,200 million by 2026 and is estimated to grow at a CAGR of 18% over the forecast period (2019-2026).

The factors driving growth of the Smart Manufacturing Platform Market includes growing focus by companies on reducing manufacturing costs, Government initiatives to promote industrial automation, increasing popularity of intelligent machines, rapid digitalization and rise in the number of small- and medium-sized businesses around the world. Industrial automation systems eliminate human intervention, helps companies to minimizes labor costs, enhances productivity in the manufacturing process, optimizes resources, reduces downtime and inaccuracies and these systems record valuable information to identify pattern, are some of features accelerating the market growth. Moreover, growing adoption of Industry 4.0 and smart manufacturing technologies, rising demand for streamlined and automated data to enhance productivity, and increasing use of interconnected sensors and instruments in the manufacturing sector, are some of the additional factors supplementing the Smart Manufacturing Platform Market size. In addition, the increasing investments by leading players on research and development, strategic partnerships between key companies and rising disposable incomes are further propelling the Smart Manufacturing Platform Market share.

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However, growth of the Smart Manufacturing Platform Market is hindered due to insufficient availability of skilled workforce.

The leading players operating in the market are ABB Group, Robert Bosch GmbH, Emerson Electric Co., Microsoft Corporation, IBM Corporation, PTC, Inc., Fujitsu Ltd., General Electric Company, Rockwell Automation, Inc., SAP SE, and Hitachi Ltd., among others.

Based on Type, the Device Management segment is predicted to grow at a significant CAGR during the forecast period

Device management systems helps in monitoring and tracking devices along with growing demand for connected devices, are some of the factors pushing growth of the segment.

Based on Application, the Performance Optimization segment is projected to expand at a remarkable CAGR over the forecast period

Increasing application of smart manufacturing platform solutions in Oil & Gas, Automotive and Consumer electronics, are propelling segment’s growth.

Based on Region, the Asia-Pacific region is anticipated to hold the highest market share during the forecast period

Increasing number of start-ups and mid-sized companies, rapid digitalization, Government policies promoting industrial automation, improvements in the living standards, rising per capita incomes and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.

Key Developments

  • In Apr 2019, Microsoft Corporation in partnership with BMW group inaugurated the open manufacturing platform to transform digital production efficiency across the industry, which will enable faster and more cost-effective advancement in the manufacturing sector.
  • In Dec 2018, Fujitsu partnered with Amazon Web Service, this partnership will allow Fujitsu’s customers to move their IT estates to the AWS Cloud, to enhance business processes and speed up innovation.

Market Segmentation

Segmentation by Type

  • Device Management
  • Connectivity Management
  • Application Enablement Platform

Segmentation by Application

  • Performance Optimization
  • Asset and Condition Monitoring
  • Others

Segmentation by Industry

  • Process Industry
    • Oil & Gas
    • Power & Energy
    • Chemicals
    • Pharmaceuticals
    • Food & Beverages
    • Metals and Mining
    • Other
  • Discrete Industry
    • Automotive
    • Electronics and Semiconductor
    • Industrial Manufacturing
    • Medical Devices
    • Aerospace and Defense
    • Others

Segmentation by Deployment Type

  • Cloud
  • On-Premises

Segmentation by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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