Smart Manufacturing Platform Market

GMI Research analysis indicates that the Smart Manufacturing Platform Market size was estimated at USD 7.3 billion in 2022 and is slated to register a double digit CAGR of 18.0% over the forecast period, and is projected to reach USD 27.5 billion in 2030

Smart Manufacturing Platform Market Overview

Smart manufacturing is a technology-powered approach which uses internet-connected machinery and utilize computer-integrated manufacturing. Smart manufacturing Platform is a technology-based method that involves an internet-enabled device to monitor the production process and performance. The idea of a smart manufacturing platform is to link smart manufacturing or Industry 4.0 to the Industrial Internet of Things (IIoT) and to automate manufacturing operations and then use data analytics in enhancing the manufacturing process and performance.

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Major Smart Manufacturing Platform Market Drivers

The major factors that are driving the growth of the smart manufacturing platform market are increasing adoption of industrial automation in manufacturing industry, support from governments for industrial automation, and the growing demand for streamlined and automated data to improve productivity and decrease operational costs. The increasing adoption of industry 4.0 and smart factory along with increasing government investment of different countries on industrial automation are propelling the growth of the market. There has been an Increased integration of Industrial Internet of Things (IIoT) with Industry 4.0 and smart manufacturing to gather, analyze the data, and then use that data to retrieve valuable insights to enhance the productivity, performance and efficiency. However, frequently software upgradation and lack of skilled IoT workforce are restraining the growth of the smart manufacturing market.

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Based on the type, the device management segment is expected to grow at significant rate during the forecast period. The increasing adoption of industrial automation increases the implementation of IoT devices across the industry. With the growing number of connected devices, it becomes crucial to monitor, track, and manage devices, which increases the demand for the device management platform market. In addition, the device management platform helps in maintaining the health of devices, connectivity, IoT device security, and remotely troubleshoot the issue. Device management platform assist helps to manufacture enterprises in tracking, managing, and securing devices effectively.

Based on the application, the performance optimization segment is expected to grow significant growth rate in the smart manufacturing platform market during the forecast period. Smart manufacturing platforms are widely used in various industries such as automotive, energy & power, electronics, and oil & gas for performance optimization. The platform used for performance optimization application enables real-time analytics for all processes, improves machine utilization, enhances performance, and minimize machine downtime to take timely action and minimize safety incidents with real-time operational insights of key industries, which increases plant efficiency.

Based on Industry, the process industry segment is expected to grow at higher rate over the forecast period.  Process industry segments include oil & gas, food & beverages, metal & mining, energy & power, and pharmaceuticals. Major industries require monitoring of the process remotely all the time. The rising in the automation across various industries and increasing demand for optimizing quality & performance, maximize profit margin, and reduce industrial waste are fuelling the growth of the segment.

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Regional – Segment Analysis

Based on the region, the Asia-pacific region is expected to grow at the fastest rate during the forecast period. Increased adoption of automation technologies in various industries such as automotive, electronics & semiconductors, power & energy, and others sector, are increasing the demand for smart manufacturing platforms in this region. Countries such as China, Japan, India, and South Korea are taking the various initiative to promote the implementation of IIoT for their respective industries are further fuelling the market growth in this region.

Top Market Players

Various notable players in the Smart Manufacturing Platform market include Microsoft Corporation, IBM Corporation, PTC, Inc., SAP SE, Hitachi Ltd., ABB Group, Robert Bosch GmbH, Emerson Electric Co., Fujitsu Ltd., General Electric Company, Rockwell Automation, Inc., among others.,

Key Developments:

• • In Apr 2019, Microsoft Corporation and BMW group together launched the open manufacturing platform to transform digital production efficiency across the industry. The aim is to enable faster and more cost-effective advancement in the manufacturing sector.
  • In Dec 2018, Fujitsu collaborated with Amazon Web Service, which allows its customers to move their IT estates to the AWS Cloud to enhance business processes and speed up innovation.

Segments covered in the Report:

The Global Smart Manufacturing Platform market has been segmented based on the type, application, industry, and region. Based on the type market is categorized into device management, connectivity management, and application enablement platform. Based on application, the market is further segmented into performance optimization, asset and condition monitoring, and others. Based on industry, the market is further segmented into Process Industry and Discrete Industry. The process industry is further segmented into Oil & Gas, Power & Energy, Chemicals, Pharmaceuticals, Food & Beverages, Metals and Mining, and Other. The discrete industry is further segmented into Automotive, Electronics and Semiconductor, Industrial Manufacturing, Medical Devices, Aerospace and Defense, and Others. Based on the deployment type, the market is segmented into the cloud and on-premises.

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Market Segmentation

Global Smart Manufacturing Platform Market by Type

• • Device Management
  • Connectivity Management
  • Application Enablement Platform

Global Smart Manufacturing Platform Market by Application

• • Performance Optimization
  • Asset and Condition Monitoring
  • Others

Global Smart Manufacturing Platform Market 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

Global Smart Manufacturing Platform Market by Deployment Type

• • Cloud
  • On-Premises

Global Smart Manufacturing Platform Market by Region

• • North America Smart Manufacturing Platform Market  (Option 1: As a part of the free 25% customization)

• • • By Type
    • By Application
    • By Industry
    • By Deployment Type
    • US All-Up Smart Manufacturing Platform Market
    • Canada All-Up Smart Manufacturing Platform Market

• • Europe Smart Manufacturing Platform Market  (Option 2: As a part of the free 25% customization)

• • • By Type
    • By Application
    • By Industry
    • By Deployment Type
    • Spain All-Up Smart Manufacturing Platform Market
    • Netherlands All-Up Smart Manufacturing Platform Market
    • Germany All-Up Smart Manufacturing Platform Market
    • UK All-Up Smart Manufacturing Platform Market
    • France All-Up Smart Manufacturing Platform Market
    • Rest of Europe All-Up Smart Manufacturing Platform Market

• • Asia-Pacific Smart Manufacturing Platform Market (Option 3: As a part of the free 25% customization)

• • • By Type
    • By Application
    • By Industry
    • By Deployment Type
    • China All-Up Smart Manufacturing Platform Market
    • India All-Up Smart Manufacturing Platform Market
    • Japan All-Up Smart Manufacturing Platform Market
    • Malaysia All-Up Smart Manufacturing Platform Market
    • Australia All-Up Smart Manufacturing Platform Market
    • Rest of APAC All-Up Smart Manufacturing Platform Market

• • ROW Smart Manufacturing Platform Market  (Option 4: As a part of the free 25% customization)

• • • By Type
    • By Application
    • By Industry
    • By Deployment Type
    • Brazil All-Up Smart Manufacturing Platform Market
    • Argentina All-Up Smart Manufacturing Platform Market
    • South Africa All-Up Smart Manufacturing Platform Market
    • Saudi Arabia All-Up Smart Manufacturing Platform Market
    • Rest of world (remaining countries of the LAMEA region) All-Up Smart Manufacturing Platform Market

Global Smart Manufacturing Platform Market Players (Option 5: As a part of the free 25% customization – Profiles of 5 Additional Companies of your Choice)

• • Microsoft Corporation
  • IBM Corporation
  • PTC, Inc.
  • SAP SE
  • Hitachi Ltd.
  • ABB Group
  • Robert Bosch GmbH
  • Emerson Electric Co.
  • Fujitsu Ltd.
  • General Electric Company
  • Rockwell Automation, Inc.