The study methodologies used to examine the Smart Manufacturing market for the forecast period, 2020 - 2027 further classifies the industry by type, geography, end-use and end-user to add more precision and bring to light factors responsible for augmenting business development.

Vancouver, BC -- (SBWire) -- 03/01/2021 --The global Smart Manufacturing Market will be worth USD 484.97 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the increasing adoption of digital technologies across all major industries, including food & beverage, petrochemicals, automotive, aerospace & defense, and energy & power. The rising need to eliminate human & machine errors, enhanced asset efficiency and production quality has increased the adoption of digitized supply chain management solutions.

Industry experts conducting the study further estimate the potential of the Smart Manufacturing industry. Such information is important for firms looking to launch an innovative service or product on the market. Industry experts have measured the total volume of the given market. Researchers have calculated the industry in terms of sales by the competitors and end-user – customers. Data on the entire size of the Smart Manufacturing market for a particular product or a service for the forecast period, 2020 to 2027 covered in the report makes it valuable. This information reveals the upper limit of the Smart Manufacturing industry for a specific product or service.

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The research provides answers to the following key questions:
What is the estimated market size and growth rate of the Smart Manufacturing market for the forecast period, 2020 - 2027?
What are prominent factors driving the progress of the Smart Manufacturing industry across different regions?
Who are major vendors dominating the Smart Manufacturing market and what have been their winning strategies to stay competitive?
Which market trends are expected to influence the development of the Smart Manufacturing industry worldwide?
What are challenges that are expected to act as a roadblock for Smart Manufacturing industry for the period, 2020 - 2027?
What are the opportunities working in favor of the Smart Manufacturing industry?

This report on the global Smart Manufacturing Market equips the reader with all essential tools to decipher their standing in the industry based on the growth of revenue or sales. It provides a comprehensive evaluation of the global Smart Manufacturing market from various perspectives to deliver a detailed, informative, and precise analysis of regional growth, competition, and market segmentation, among other factors. Moreover, it also gives an accurate account of the significant breakthroughs and developments that influence the global Smart Manufacturing market. It also focuses on both the global as well as the regional expansion of the Smart Manufacturing industry to give an overall analysis.

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Key Highlights From The Report
In May 2019, ABB and the Vietnamese Ministry of Science and Technology (MoST) exchanged a Letter of Intent (LOI) in Stockholm, Sweden. The LOI was exchanged to accelerate the realization of smart manufacturing in Vietnam.
The Manufacturing Execution System segment held the largest market share of 28.7% in 2019. Increasing utilization of the advanced and cost-effective technologies, such as the cloud-based Manufacturing Execution System, in the manufacturing process by the small and medium-sized enterprises (SMEs) is expected to drive the segment's growth.
Industrial Robotics is forecasted to grow with the fastest CAGR of 13.6% over the forecast period. Implementation of artificial intelligence and the increasing investments for automation across all major industries in the developing countries is driving the growth of the segment.
The automotive industry segment held the largest market share of Smart Manufacturing in 2019. Increasing implementation of advanced technologies such as Industrial 3D printing in order to reduce the overall manufacturing cost is expected to drive the growth of the market.
The Asia Pacific region is expected to be the fastest-growing region over the forecast period due to the rising investments of the manufacturing companies on the implementation of advanced technologies in the manufacturing process to increase operational efficiency and production.
Key participants include IBM, ABB, General Electric, Siemens, Rockwell Automation, Honeywell International, Schneider Electric, Mitsubishi Electric, Emerson Electric, and Cisco, among others.

Information Technology Outlook (Revenue, USD Billion; 2017-2027)
Manufacturing Execution System
Human-Machine Interface
Warehouse Management System
Plant Asset Management
Industrial Communication
Enterprise Manufacturing Intelligence
Product lifecycle Management
Others

Enabling Technology Outlook (Revenue, USD Billion; 2017-2027)
Industrial Robotics
Machine Vision
Industrial 3D printing
Industrial Internet of Things (IIoT)
Artificial Intelligence (AI) in manufacturing
Blockchain in manufacturing
Augmented Reality and Virtual Reality in manufacturing
Others

Industry Outlook (Revenue, USD Billion; 2017-2027)
Energy & Power
Aerospace & Defense
Pharmaceuticals
Automotive
Food & Beverage
Semiconductor & electronics
Oil & Gas
Chemicals
Others

Regional Outlook (Revenue, USD Billion; 2017-2027)
North America
Europe
Asia Pacific
Latin America
MEA

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Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Smart Manufacturing Market Segmentation & Impact Analysis
Chapter 5. Smart Manufacturing Market By Product Insights & Trends, Revenue (USD Million), Volume (Kilo Tons)
Chapter 6. Smart Manufacturing Market By Surgery Insights & Trends Revenue (USD Million), Volume (Kilo Tons)
Chapter 7. Smart Manufacturing Market By End User Insights & Trends Revenue (USD Million), Volume (Kilo Tons)
Chapter 8. Smart Manufacturing Market Regional Outlook
Continued…