Smart Manufacturing Platform Market Trends – Growing Adoption of Advanced Digital Technologies in Manufacturing Industries
VANCOUVER, BC, CANADA, April 12, 2022 /EINPresswire.com/ — The global smart manufacturing platform market is expected to reach a market size of USD 29.64 billion in 2028 and record a strong double-digit CAGR over the forecast period, according to the latest analysis from Emergen Research. This steady growth can be attributed to the increasing need for real-time production monitoring and the growing need to increase resource efficiency in a manufacturing network through dynamic sharing of manufacturing services, which is driving the adoption of cloud manufacturing platforms.
Industries are increasingly adopting smart manufacturing platforms to create smart manufacturing networks with higher productivity to improve resource efficiency and utilization rates. The cloud-enabled intelligent manufacturing platform helps identify manufacturing inefficiencies and bottlenecks and streamlines manufacturing processes. The intelligent manufacturing platform provides real-time data collection and monitoring, which helps improve the productivity of production systems.
The report studies historical data of Smart Manufacturing Platform market and offers valuable insights into key segments and sub-segments, revenue generation, demand and supply scenario, trends and other vital aspects . The report offers an accurate forecast estimate of the Smart Manufacturing Platform industry based on recent research and technological advancements. It also offers valuable data to help investors formulate strategic business investment plans and capitalize on the emerging growth prospects in the Smart Manufacturing Platform market.
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Key Players/Manufacturers profiled in the report are:
Microsoft, IBM, PTC Inc., SAP SE, Hitachi, ABB, Amazon, Bosch, Emerson and Fujitsu Ltd.
Some highlights of the report
In June 2020, Microsoft announced the acquisition of CyberX to accelerate and secure customer IoT deployments. With the help of CyberX, customers can manage and improve the security postures of existing IoT devices. CyberX should help customers see a digital map of thousands of devices in a factory, which would safely enable smart manufacturing in production facilities and the supply chain.
The performance optimization segment accounted for the largest market share of 49.8% in 2019. The adoption of performance optimization applications and smart manufacturing platforms has increased in industries such as energy and electricity, automotive, oil and gas, electronics and semiconductors, which generates revenue. significant growth in the performance optimization segment.
Revenue from process industries segment is expected to grow at a rapid CAGR of 21.9% during the forecast period. The growing need to reduce operational expenses and improve productivity is driving the adoption of Industry 4.0 in process industries. It is also driving the deployment of smart manufacturing platforms in process industries.
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Emergen Research has segmented the global smart manufacturing platform market based on application, industries, type, and region:
Application Outlook (Revenue, USD Billion; 2021-2028)
Asset and Condition Monitoring
Industry Outlook (Revenue, USD Billion; 2021-2028)
Discrete (medical devices, electronics and semiconductor, automotive, industrial manufacturing, aerospace and defense)
Process (Chemicals, Food & Beverage, Oil & Gas, Metals & Mining, Power & Energy, Pharmaceuticals)
Type Outlook (Revenue, USD Billion; 2021-2028)
North America (USA, Canada)
Europe (UK, Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, Rest of MEA)
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The report offers insightful insights into market dynamics of the Smart Manufacturing Platform Market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Smart Manufacturing Platform market, competitive landscape, factors affecting it and to predict the growth of the market. ‘industry. It also offers the impact of various market factors along with the effects of regulatory framework on the growth of the Smart Manufacturing Platform market.
Key benefits of the report:
Complete analysis of the competitive scenario and its changing dynamics
Analytical data with detailed SWOT analysis and Porter’s five forces analysis
8-year in-depth analysis of the global smart manufacturing platform market
Critical assessment of key market segments
Comprehensive analysis of drivers, constraints, trends and opportunities
Detailed regional analysis and comprehensive company profiling
In-depth assessment of current and emerging market trends
The subject matter experts conducting the study offer an in-depth understanding of how prominent leaders have successfully navigated potential buyers and the competitive dynamics influencing their brand positioning in the industry. The Smart Manufacturing Platform Market Analysis provides everything a business owner needs to succeed.
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About Emergen Research
Emergen Research is a market research and consulting firm that provides syndicated research reports, custom research reports, and consulting services. Our solutions are uniquely focused on your goal of locating, targeting and analyzing changes in consumer behavior across demographics, across industries, and helping customers make smarter business decisions. We offer market intelligence research ensuring relevant and factual research across multiple sectors including health, touchpoints, chemicals, types and energy. We are constantly updating our search offerings to ensure that our clients are aware of the latest trends existing in the market. Emergen Research has a strong base of experienced analysts from a variety of areas of expertise. Our industry experience and ability to develop a workable solution to any research problem gives our clients the ability to secure an edge over their respective competitors.