The North America Smart Manufacturing Market would witness market growth of 11.5% CAGR during the forecast period (2023-2029).
Smart manufacturing makes use of computer-integrated manufacturing, highly adaptable and quick modifications to designs, digital information technology, as well as more adaptable technical staff training. Occasionally, additional objectives include quick adjustments in production levels in response to demand, supply chain optimization, effective production, and recyclability. Interoperable systems, intelligent automation, multiscale dynamic modeling and simulation, and networked sensors are all features of the smart manufacturing concept.
Big data processing, industrial connectivity, advanced robotics, and other technologies are some of the foundational elements of the smart manufacturing movement. Intelligent machines, another name for advanced industrial robots, may interact directly with manufacturing systems and operate autonomously. For co-assembly jobs, they can collaborate with people in some situations of advanced manufacturing. These machines can solve issues and reach judgments without human intervention by analyzing sensory data and differentiating between various product configurations.
The backbone of the American economy and national security is manufacturing. From biopharmaceuticals to aerospace and beyond, it is essential to practically every area of the American economy. New technologies and innovations empower next-generation offerings, support the ability to solve climate catastrophe, and assist the creation of high-quality, new, and higher-paying employment, all contributing to the economy's ability to grow continually. Manufacturing advancements also support these goals. 11% of the US economy's gross domestic product is accounted for by one of the main economic sectors: manufacturing.
The requirement for compliance as well as government backing for digitization, the expansion of the Internet of Things, and the rising demand for automation to attain efficiency and quality are some of the key factors influencing the market growth.
The US market dominated the North America Smart Manufacturing Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $118,973.6 million by 2029. The Canada market is registering a CAGR of 14% during (2023 - 2029). Additionally, The Mexico market would experience a CAGR of 13% during (2023 - 2029).
Based on Application, the market is segmented into Product Lifecycle Management, Machine Execution System, Programmable Logic Controller (PLC), Supervisory Control and Data Acquisition (SCADA), Machine Vision & Machine Condition Monitoring, Human-Machine Interface (HMI), Discrete Control Systems, 3D Printing, Plant Asset Management, Enterprise Resource Planning and Others. Based on Component, the market is segmented into Hardware, Software and Services. Based on Industry, the market is segmented into Automotive, Chemical & Petrochemical, Electrical & Electronics, Food & Agriculture, Healthcare, Industrial Equipment, Aerospace & Defense and Oil & Gas, & Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Smart Manufacturing Market is Projected to reach USD 576.3 Billion by 2029, at a CAGR of 12.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Ltd, Siemens AG, General Electric Company, Rockwell Automation, Inc., Schneider Electric SE, Honeywell International, Inc., Emerson Electric Co., FANUC Corporation, IBM Corporation, and Stratasys, Ltd.
Scope of the Study
Market Segments Covered in the Report:
By Application
- Product Lifecycle Management
- Machine Execution System
- Programmable Logic Controller (PLC)
- Supervisory Control and Data Acquisition (SCADA)
- Machine Vision & Machine Condition Monitoring
- Human-Machine Interface (HMI)
- Discrete Control Systems
- 3D Printing
- Plant Asset Management
- Enterprise Resource Planning
- Others
By Component
- Hardware
- Software
- Services
By Industry
- Automotive
- Chemical & Petrochemical
- Electrical & Electronics
- Food & Agriculture
- Healthcare
- Industrial Equipment
- Aerospace & Defense
- Oil & Gas, & Others
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- ABB Ltd
- Siemens AG
- General Electric Company
- Rockwell Automation, Inc.
- Schneider Electric SE
- Honeywell International, Inc.
- Emerson Electric Co.
- FANUC Corporation
- IBM Corporation
- Stratasys, Ltd.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Smart Manufacturing Market, by Application
1.4.2 North America Smart Manufacturing Market, by Component
1.4.3 North America Smart Manufacturing Market, by Industry
1.4.4 North America Smart Manufacturing Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition & Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.2.4 Geographical Expansions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2019-2023)
3.3.2 Key Strategic Move: (Partnerships, Collaborations and Agreements : 2019, Apr – 2022, Nov) Leading Players
Chapter 4. North America Smart Manufacturing Market by Application
4.1 North America Product Lifecycle Management Market by Country
4.2 North America Machine Execution System Market by Country
4.3 North America Programmable Logic Controller (PLC) Market by Country
4.4 North America Supervisory Control and Data Acquisition (SCADA) Market by Country
4.5 North America Machine Vision & Machine Condition Monitoring Market by Country
4.6 North America Human-Machine Interface (HMI) Market by Country
4.7 North America Discrete Control Systems Market by Country
4.8 North America 3D Printing Market by Country
4.9 North America Plant Asset Management Market by Country
4.1 North America Enterprise Resource Planning Market by Country
4.11 North America Others Market by Country
Chapter 5. North America Smart Manufacturing Market by Component
5.1 North America Hardware Market by Country
5.2 North America Software Market by Country
5.3 North America Services Market by Country
Chapter 6. North America Smart Manufacturing Market by Industry
6.1 North America Automotive Market by Country
6.2 North America Chemical & Petrochemical Market by Country
6.3 North America Electrical & Electronics Market by Country
6.4 North America Food & Agriculture Market by Country
6.5 North America Healthcare Market by Country
6.6 North America Industrial Equipment Market by Country
6.7 North America Aerospace & Defense Market by Country
6.8 North America Oil & Gas, & Others Market by Country
Chapter 7. North America Smart Manufacturing Market by Country
7.1 US Smart Manufacturing Market
7.1.1 US Smart Manufacturing Market by Application
7.1.2 US Smart Manufacturing Market by Component
7.1.3 US Smart Manufacturing Market by Industry
7.2 Canada Smart Manufacturing Market
7.2.1 Canada Smart Manufacturing Market by Application
7.2.2 Canada Smart Manufacturing Market by Component
7.2.3 Canada Smart Manufacturing Market by Industry
7.3 Mexico Smart Manufacturing Market
7.3.1 Mexico Smart Manufacturing Market by Application
7.3.2 Mexico Smart Manufacturing Market by Component
7.3.3 Mexico Smart Manufacturing Market by Industry
7.4 Rest of North America Smart Manufacturing Market
7.4.1 Rest of North America Smart Manufacturing Market by Application
7.4.2 Rest of North America Smart Manufacturing Market by Component
7.4.3 Rest of North America Smart Manufacturing Market by Industry
Chapter 8. Company Profiles
8.1 Honeywell International, Inc.
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expenses
8.1.5 Recent strategies and developments:
8.1.5.1 Partnerships, Collaborations, and Agreements:
8.1.5.2 Product Launches and Product Expansions:
8.1.5.3 Acquisition and Mergers:
8.1.6 SWOT Analysis
8.2 Rockwell Automation, Inc.
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expenses
8.2.5 Recent strategies and developments:
8.2.5.1 Acquisition and Mergers:
8.2.6 SWOT Analysis
8.3 ABB Ltd
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expense
8.3.5 Recent strategies and developments:
8.3.5.1 Partnerships, Collaborations, and Agreements:
8.3.5.2 Geographical Expansions:
8.3.6 SWOT Analysis
8.4 Siemens AG
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Research & Development Expense
8.4.5 Recent strategies and developments:
8.4.5.1 Partnerships, Collaborations, and Agreements:
8.4.6 SWOT Analysis
8.5 General Electric Company
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 Research & Development Expense
8.5.5 SWOT Analysis
8.6 Schneider Electric SE
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental and Regional Analysis
8.6.4 Research & Development Expense
8.6.5 Recent strategies and developments:
8.6.5.1 Partnerships, Collaborations, and Agreements:
8.6.5.2 Geographical Expansions:
8.6.6 SWOT Analysis
8.7 IBM Corporation
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Regional & Segmental Analysis
8.7.4 Research & Development Expenses
8.7.5 SWOT Analysis
8.8 Emerson Electric Co.
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Segmental and Regional Analysis
8.8.4 Research & Development Expense
8.8.5 Recent strategies and developments:
8.8.5.1 Acquisition and Mergers:
8.9 FANUC Corporation
8.9.1 Company Overview
8.9.2 Financial Analysis
8.9.3 Regional Analysis
8.9.4 Research & Development Expense
8.9.5 Recent strategies and developments:
8.9.5.1 Partnerships, Collaborations, and Agreements:
8.10. Stratasys, Ltd.
8.10.1 Company Overview
8.10.2 Financial Analysis
8.10.3 Regional Analysis
8.10.4 Research & Development Expenses
TABLE 1 North America Smart Manufacturing Market, 2019 - 2022, USD Million
TABLE 2 North America Smart Manufacturing Market, 2023 - 2029, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Smart Manufacturing Market
TABLE 4 Product Launches And Product Expansions– Smart Manufacturing Market
TABLE 5 Acquisition and Mergers– Smart Manufacturing Market
TABLE 6 geographical expansions – Smart Manufacturing Market
TABLE 7 North America Smart Manufacturing Market by Application, 2019 - 2022, USD Million
TABLE 8 North America Smart Manufacturing Market by Application, 2023 - 2029, USD Million
TABLE 9 North America Product Lifecycle Management Market by Country, 2019 - 2022, USD Million
TABLE 10 North America Product Lifecycle Management Market by Country, 2023 - 2029, USD Million
TABLE 11 North America Machine Execution System Market by Country, 2019 - 2022, USD Million
TABLE 12 North America Machine Execution System Market by Country, 2023 - 2029, USD Million
TABLE 13 North America Programmable Logic Controller (PLC) Market by Country, 2019 - 2022, USD Million
TABLE 14 North America Programmable Logic Controller (PLC) Market by Country, 2023 - 2029, USD Million
TABLE 15 North America Supervisory Control and Data Acquisition (SCADA) Market by Country, 2019 - 2022, USD Million
TABLE 16 North America Supervisory Control and Data Acquisition (SCADA) Market by Country, 2023 - 2029, USD Million
TABLE 17 North America Machine Vision & Machine Condition Monitoring Market by Country, 2019 - 2022, USD Million
TABLE 18 North America Machine Vision & Machine Condition Monitoring Market by Country, 2023 - 2029, USD Million
TABLE 19 North America Human-Machine Interface (HMI) Market by Country, 2019 - 2022, USD Million
TABLE 20 North America Human-Machine Interface (HMI) Market by Country, 2023 - 2029, USD Million
TABLE 21 North America Discrete Control Systems Market by Country, 2019 - 2022, USD Million
TABLE 22 North America Discrete Control Systems Market by Country, 2023 - 2029, USD Million
TABLE 23 North America 3D Printing Market by Country, 2019 - 2022, USD Million
TABLE 24 North America 3D Printing Market by Country, 2023 - 2029, USD Million
TABLE 25 North America Plant Asset Management Market by Country, 2019 - 2022, USD Million
TABLE 26 North America Plant Asset Management Market by Country, 2023 - 2029, USD Million
TABLE 27 North America Enterprise Resource Planning Market by Country, 2019 - 2022, USD Million
TABLE 28 North America Enterprise Resource Planning Market by Country, 2023 - 2029, USD Million
TABLE 29 North America Others Market by Country, 2019 - 2022, USD Million
TABLE 30 North America Others Market by Country, 2023 - 2029, USD Million
TABLE 31 North America Smart Manufacturing Market by Component, 2019 - 2022, USD Million
TABLE 32 North America Smart Manufacturing Market by Component, 2023 - 2029, USD Million
TABLE 33 North America Hardware Market by Country, 2019 - 2022, USD Million
TABLE 34 North America Hardware Market by Country, 2023 - 2029, USD Million
TABLE 35 North America Software Market by Country, 2019 - 2022, USD Million
TABLE 36 North America Software Market by Country, 2023 - 2029, USD Million
TABLE 37 North America Services Market by Country, 2019 - 2022, USD Million
TABLE 38 North America Services Market by Country, 2023 - 2029, USD Million
TABLE 39 North America Smart Manufacturing Market by Industry, 2019 - 2022, USD Million
TABLE 40 North America Smart Manufacturing Market by Industry, 2023 - 2029, USD Million
TABLE 41 North America Automotive Market by Country, 2019 - 2022, USD Million
TABLE 42 North America Automotive Market by Country, 2023 - 2029, USD Million
TABLE 43 North America Chemical & Petrochemical Market by Country, 2019 - 2022, USD Million
TABLE 44 North America Chemical & Petrochemical Market by Country, 2023 - 2029, USD Million
TABLE 45 North America Electrical & Electronics Market by Country, 2019 - 2022, USD Million
TABLE 46 North America Electrical & Electronics Market by Country, 2023 - 2029, USD Million
TABLE 47 North America Food & Agriculture Market by Country, 2019 - 2022, USD Million
TABLE 48 North America Food & Agriculture Market by Country, 2023 - 2029, USD Million
TABLE 49 North America Healthcare Market by Country, 2019 - 2022, USD Million
TABLE 50 North America Healthcare Market by Country, 2023 - 2029, USD Million
TABLE 51 North America Industrial Equipment Market by Country, 2019 - 2022, USD Million
TABLE 52 North America Industrial Equipment Market by Country, 2023 - 2029, USD Million
TABLE 53 North America Aerospace & Defense Market by Country, 2019 - 2022, USD Million
TABLE 54 North America Aerospace & Defense Market by Country, 2023 - 2029, USD Million
TABLE 55 North America Oil & Gas, & Others Market by Country, 2019 - 2022, USD Million
TABLE 56 North America Oil & Gas, & Others Market by Country, 2023 - 2029, USD Million
TABLE 57 North America Smart Manufacturing Market by Country, 2019 - 2022, USD Million
TABLE 58 North America Smart Manufacturing Market by Country, 2023 - 2029, USD Million
TABLE 59 US Smart Manufacturing Market, 2019 - 2022, USD Million
TABLE 60 US Smart Manufacturing Market, 2023 - 2029, USD Million
TABLE 61 US Smart Manufacturing Market by Application, 2019 - 2022, USD Million
TABLE 62 US Smart Manufacturing Market by Application, 2023 - 2029, USD Million
TABLE 63 US Smart Manufacturing Market by Component, 2019 - 2022, USD Million
TABLE 64 US Smart Manufacturing Market by Component, 2023 - 2029, USD Million
TABLE 65 US Smart Manufacturing Market by Industry, 2019 - 2022, USD Million
TABLE 66 US Smart Manufacturing Market by Industry, 2023 - 2029, USD Million
TABLE 67 Canada Smart Manufacturing Market, 2019 - 2022, USD Million
TABLE 68 Canada Smart Manufacturing Market, 2023 - 2029, USD Million
TABLE 69 Canada Smart Manufacturing Market by Application, 2019 - 2022, USD Million
TABLE 70 Canada Smart Manufacturing Market by Application, 2023 - 2029, USD Million
TABLE 71 Canada Smart Manufacturing Market by Component, 2019 - 2022, USD Million
TABLE 72 Canada Smart Manufacturing Market by Component, 2023 - 2029, USD Million
TABLE 73 Canada Smart Manufacturing Market by Industry, 2019 - 2022, USD Million
TABLE 74 Canada Smart Manufacturing Market by Industry, 2023 - 2029, USD Million
TABLE 75 Mexico Smart Manufacturing Market, 2019 - 2022, USD Million
TABLE 76 Mexico Smart Manufacturing Market, 2023 - 2029, USD Million
TABLE 77 Mexico Smart Manufacturing Market by Application, 2019 - 2022, USD Million
TABLE 78 Mexico Smart Manufacturing Market by Application, 2023 - 2029, USD Million
TABLE 79 Mexico Smart Manufacturing Market by Component, 2019 - 2022, USD Million
TABLE 80 Mexico Smart Manufacturing Market by Component, 2023 - 2029, USD Million
TABLE 81 Mexico Smart Manufacturing Market by Industry, 2019 - 2022, USD Million
TABLE 82 Mexico Smart Manufacturing Market by Industry, 2023 - 2029, USD Million
TABLE 83 Rest of North America Smart Manufacturing Market, 2019 - 2022, USD Million
TABLE 84 Rest of North America Smart Manufacturing Market, 2023 - 2029, USD Million
TABLE 85 Rest of North America Smart Manufacturing Market by Application, 2019 - 2022, USD Million
TABLE 86 Rest of North America Smart Manufacturing Market by Application, 2023 - 2029, USD Million
TABLE 87 Rest of North America Smart Manufacturing Market by Component, 2019 - 2022, USD Million
TABLE 88 Rest of North America Smart Manufacturing Market by Component, 2023 - 2029, USD Million
TABLE 89 Rest of North America Smart Manufacturing Market by Industry, 2019 - 2022, USD Million
TABLE 90 Rest of North America Smart Manufacturing Market by Industry, 2023 - 2029, USD Million
TABLE 91 Key Information – Honeywell International, Inc.
TABLE 92 Key information – Rockwell Automation, Inc.
TABLE 93 Key Information – ABB ltd
TABLE 94 Key Information – Siemens AG
TABLE 95 KEY INFORMATION – General Electric Company
TABLE 96 Key information – Schneider Electric SE
TABLE 97 Key information – IBM Corporation
TABLE 98 Key Information – Emerson Electric Co.
TABLE 99 key information – FANUC Corporation
TABLE 100 key Information – Stratasys, Ltd.
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2019-2023)
FIG 4 Key Strategic Move: (Partnerships, Collaborations and Agreements : 2019, Apr – 2022, Nov) Leading Players
FIG 5 North America Smart Manufacturing Market Share by Application, 2022
FIG 6 North America Smart Manufacturing Market Share by Application, 2029
FIG 7 North America Smart Manufacturing Market by Application, 2019 - 2029, USD Million
FIG 8 North America Smart Manufacturing Market Share by Component, 2022
FIG 9 North America Smart Manufacturing Market Share by Component, 2029
FIG 10 North America Smart Manufacturing Market by Component, 2019 - 2029, USD Million
FIG 11 North America Smart Manufacturing Market Share by Industry, 2022
FIG 12 North America Smart Manufacturing Market Share by Industry, 2029
FIG 13 North America Smart Manufacturing Market by Industry, 2019 - 2029, USD Million
FIG 14 North America Smart Manufacturing Market Share by Country, 2022
FIG 15 North America Smart Manufacturing Market Share by Country, 2029
FIG 16 North America Smart Manufacturing Market by Country, 2019 - 2029, USD Million
FIG 17 Recent strategies and developments: Honeywell International, Inc.
FIG 18 Swot analysis: Honeywell international, inc.
FIG 19 SWOT Analysis: Rockwell Automation, Inc.
FIG 20 SWOT Analysis: ABB Group
FIG 21 Swot analysis: Siemens AG
FIG 22 Swot analysis: General electric (GE) Co.
FIG 23 Swot analysis: Schneider Electric
FIG 24 Swot analysis: IBM Corporation