Zion Market Research

Global Smart Manufacturing Market Set to Cross USD 479.01 Billion in 2023

Global Smart Manufacturing Market Set To Cross USD 479.01 billion in 2023


Sarasota, FL -- (SBWIRE) -- 01/15/2019 -- With the presence of a large pool of participants, the Global smart manufacturing market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Siemens AG, ABB Ltd., Emerson Electric Company, Schneider Electric, General Electric Company, Honeywell International Inc., and Mitsubishi Electric are some of the key vendors of smart manufacturing across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the smart manufacturing market study.

Request Free Sample Report of Smart Manufacturing Market Report @ https://goo.gl/63PF93

In the key event that can create undulation across smart manufacturing sector, in September 2018, Zhejiang Aishida Electric Company Limited invested over USD 147 million on smart manufacturing facilities including industrial robots. Reportedly, the firm is projected to set up smart manufacturing unit featuring robots in Taizhou in Zhejiang Province along with "intelligent valley" in Shanghai.

As estimated in this report, the global smart manufacturing market stood at US$ 152.3 billion in 2017. Witnessing a tremendous rise during the period from 2018 to 2023, the revenue in this smart manufacturing market is expected to reach US$ 479.01 billion by the end of the forecast period. The main components available in this smart manufacturing market are hardware, software, and services.

Immense Need For Cost Reduction & Raising Production To Fuel Growth

"Mounting need for reducing costs, enhancing product quality, and large-scale production of goods & services is projected to impel the growth of smart manufacturing market in the years ahead," says the author of this study. Apart from this, massive investments witnessed in the manufacturing sector along with the requirement for modernizing control systems will further spur the expansion of smart manufacturing market in the ensuing years. In addition to this, the rapid acceptance of smart manufacturing systems by various small & mid-sized firms across the manufacturing sector will further stretch the growth graph of smart manufacturing market towards the positive direction.

High initial costs incurred during the deployment of smart manufacturing systems, however, are likely to restrict the surge of smart manufacturing market in the forthcoming years.

Download Free PDF Report Brochure @ https://goo.gl/Gfwte9

Massive Use Of Smart Manufacturing Technologies To Aid APAC's Dominance

Regionally, Asia Pacific has been leading the worldwide smart manufacturing market and is anticipated to continue on the dominant position in the years to come, states the smart manufacturing market study. Massive investments for expansion of manufacturing sector along with supportive government legislations are the main factor behind the dominance of the Asia Pacific smart manufacturing market. Huge presence of manufacturing firms across countries such as China, Japan, South Korea, Taiwan, and India adopting smart manufacturing technologies is another significant factor that is supporting the growth of this regional smart manufacturing market.

The global smart manufacturing market is segmented as follows:

By Technology

Machine Vision
By Application

Gastrointestinal Surgeries
Urology/Gynecology Surgeries
ENT Surgeries
Cardiovascular Surgeries
Neuro/Spinal Surgeries
Laparoscopy Surgeries
Arthroscopy Surgeries
By Region

North America
The U.S.
Asia Pacific
Latin America
The Middle East and Africa

Inquire more about this report @ https://goo.gl/u9sVvs

About Zion Market Research
Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client's needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.